How to win the race for hiring the cream of the CA crop? Research commissioned by the South African Institute of Chartered Accountants (SAICA) revealed that in South Africa, there is a shortage of more than 5 000 chartered accountants. Given that more than 90% of the chief financial officers of the Top 200 companies on the Johannesburg Stock Exchange are CAs, and the key leadership roles they play, the question is – how do you win the race for hiring cream-of-the-crop CAs? As Matsobane Matlwa, Chief Executive Officer of SAICA says: “There is no doubt about the premium that South Africa‟s top companies place on the CA(SA) designation and the profound value that chartered accountants add to the success of leading local and international corporations.” What‟s more, complying with BEE requirements is an additional factor to take into consideration in your recruitment efforts for this crucial role within an organisation. As chartered accountants wrap up their training each year, this small pool of new candidates that become available can result in a recruitment feeding frenzy. To win the race in securing the very best CA talent, key considerations such as „best fit‟ may be neglected, which can be a costly exercise in management time and monetary terms, primarily in terms of lost opportunity, but also in terms of significant fees spent on headhunting. For many of South Africa‟s leading companies, a more prudent approach is to partner with one of the large accounting firms, such as Deloitte, where every year a few hundred newly qualified CAs is produced. Having worked with these CAs for more than three years while they completed their training contracts, firms such as Deloitte are in a unique position to best match candidates with a company‟s organisational culture, experience, and even BEE requirements. Before settling on the right CA candidate, there is also the option of a secondment to evaluate performance and fit for technical and softer skills, in the real environment, as a valuable indicator of the suitability of the candidate, prior to finalising an appointment. As an indication of the current spread of BEE candidates in the local chartered accounting profession, SAICA currently has 30 404 members, of which 1 602 are African black, 719 are Coloured and 2 600 are Indian. In other words, only 16% of SAICA‟s membership base of recognised, qualified chartered accounted in South Africa fit a BEE candidate profile. Roughly one third of SAICA‟s members are female. Deloitte trains the most African black chartered accountants in the country, and is well-placed to assist with the recruitment of black talent. The Deloitte brand is a magnet for top talent; with an extensive database and a network of experienced professionals across all demographics and industries. The early engagement of the best available CA talent is a recruitment strategy that makes sense, sourcing the potential leaders of your firm of tomorrow, from the trainees completing their three-year training contracts today. For further information, please contact: Anneke Andrews Letitia Koltzow Director Executive Lead Tel: +27(0)12 482 0473 Mobile: +27(0)82 553 2856 Email: [email protected] Tel: +27(0)12 482 0323 Mobile: +27(0)82 788 0808 Email: [email protected] Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. “Deloitte” is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, and tax services to selected clients. These firms are members of Deloitte Touche Tohmatsu Limited (DTTL), a UK private company limited by guarantee. Each member firm provides services in a particular geographic area and is subject to the laws and professional regulations of the particular country or countries in which it operates. DTTL does not itself provide services to clients. DTTL and each DTTL member firm are separate and distinct legal entities, which cannot obligate each other. DTTL and each DTTL member firm are liable only for their own acts or omissions and not those of each other. Each DTTL member firm is structured differently in accordance with national laws, regulations, customary practice, and other factors, and may secure the provision of professional services in its territory through subsidiaries, affiliates, and/or other entities. © 2010 Deloitte & Touche. All rights reserved. Member of Deloitte Touche Tohmatsu Limited Designed by BICS, Johannesburg