A complex recruitment market is leading accountancy firms to offer bumper salaries in a desperate bid to reel in talent. But could focusing on employer brand reputation be a more sustainable solution?
New research from Midnight shows that employer reputation is now a decisive factor in both retention and attraction in the sector.
In fact, 22% of accountancy professionals, more than a fifth, say they have turned down a job offer due to concerns about a firm’s reputation.
TL;DR
- 20% of accountants have decided not to apply for a role due to a firm’s reputation as an employer
- 22% in accountancy have turned down a job offer due to a firm’s reputation
- 22% in accountancy have left a role altogether due to employer reputation
How does poor reputation impact recruitment and retention?
We’ve always known that people care about an employer’s reputation but now there is evidence the trend is growing.
- 90% of employees in accountancy say it is important that a firm reflects their personal values.
That’s higher than the national average of 82% and suggests firms are being judged not only on remuneration but on their culture, how they treat people, on inclusion and sustainability.
When they don’t deliver, even big buck salaries may not be enough to attract or retain top talent.
- 20% of accountants have decided not to apply for a role due to a firm’s reputation as an employer
- 22% in accountancy have left a role altogether due to employer reputation
Flo Powell, Joint Managing Director at Midnight, summed it up by saying: “These results confirm that reputation is business critical in the accountancy sector – it is directly shaping who applies, who accepts and who walks away.
“Firms are losing talent before they even reach interview stage. If candidates cannot clearly see what a firm stands for, they will simply move on to one that communicates it better.”
How does a strong employer brand reputation support recruitment?
There’s hope for firms that get their employer brand reputation and culture right.
Midnight’s report also showed that firms with strong reputations are seeing clear benefits in attracting and retaining talent:
- 28% have recommended an employer based on reputation
- 24% have applied for a role as a result
- 23% have accepted a job offer
Flo said: “In a market where firms are already competing hard for talent, losing candidates before they even reach interview stage is a risk many cannot afford. Get it right, though, and our research shows a very positive picture.”
What does the future of employer brand reputation look like in accountancy?
More than four in five (83%) accountancy professionals say employer reputation will play an even greater role in their career decisions in future, significantly above the UK average.
The research also highlights a disconnect between how firms present themselves and how they are perceived.
In discussions, University of Sussex students reported that it is often difficult to understand what an employer does, let alone assess its culture or reputation, based on its website and social channels.
As our partner Mo Kanjilal from Edge of Difference explained, there is far more to retention than meets the eye, especially for the next generation.
She said: “What we’re finding is that younger employees actually want to stay with an employer for longer, they don’t want to keep leaving and not staying long enough to make an impact.
“The idea of staying loyal because you like the company you work for, what it stands for and what it does for society is growing in importance.”
How does recruitment complexity make reputation even more important for accountancy firms?
Midnight’s data is backed up by findings from the recent 2026 Salary Guide by Robert Half which reported that hiring demand across accounting remains high but securing a top finance professional is becoming increasingly complex.
Skills shortages, compounded by increased competition for talent, mean that 67% of finance and accounting managers are willing to offer higher salaries due to a scarcity of qualified talent.
But is remuneration always the answer? And even when it is, does it deliver strong retention when culture is poor?
Robert Half’s report also noted, for instance, a growing focus from employees on flexible working arrangement and upskilling opportunities, saying that these aspects are now ‘critical for attracting and retaining skilled finance talent’
That in itself is a challenge at a time when many firms are working hard to get their people back into the office.
PwC UK, for instance, recently agreed terms on a new 350,000sq ft office in Canary Wharf, seeking a base that offered collaboration, innovation and growth.
Reputation is going to be crucial if employees are considering whether their dream employer is offering the flexibility they crave.
What does an accountancy firm with a great reputation look like?
Accountancy behemoths such as Deloitte, PwC, EY and KMPG dominate the list of ‘best accountancy firms in the UK’ but there’s a mid-size firm on their tail when it comes to the best places to work.
The annual Great Place to Work UK list focuses on culture and workplace experience as well as size and success. PKF Francis Clark sat sixth in the 2026 table for the UK’s Best Large Workplaces category, the top ranked accountancy firm.
Employees talked about a strong sense of belonging and the firm’s supportive culture and it’s the fourth time the firm has made the list, rising up the rankings each time.
Amy Taylor, chief people officer, said: “We’re continually listening to feedback and creating opportunities for our people to develop and thrive. I’m proud of our teams for creating a supportive environment where everyone feels they can belong, be themselves and achieve their career ambitions.”
Tellingly, the firm also features in specialist lists compiled by Great Place to Work, including the UK’s Best Workplaces for Women and Wellbeing and Development.
It reflects a growing focus on firms with a purpose.
Our partner Mo Kanjilal, Founder and Director, Edge of Difference said:“People want to work somewhere where they algin with the purpose or vision of a business. They want to feel included, no matter who they are and to feel like they will be listened to.
“If you’re trying to recruit and people don’t see that, they aren’t going to apply. Equally, if people you employ don’t see those things happening, many will not see a future for themselves in the same company.
“That’s a real thing, it happens. Businesses out there are struggling to recruit and retain if they don’t have an inclusive workplace.”
Wrap-up: what it all means
Getting their reputation right and then telling the world about it is crucial for accountancy firms at a time when prospective employees are highly focused on the values and culture of the employers they research.
All the evidence is that this is a trend which isn’t going away.
- If your story and purpose isn’t clear, people won’t believe in it
- If potential employees cannot find proof your culture is for real, they won’t join or stay.
- If your leadership doesn’t visibly reflect the culture you preach, people won’t trust your brand.
Find out if your employer brand is helping or hurting your hiring:
Take our 2-minute scorecard: https://scorecard.midnight.co.uk/reputationgap
Or get in touch to see how we help accountancy firms build their reputations with future talent in mind.
Read our full research report here:
