2023 Tax Hiring Outlook

This report analyzes survey responses from top tax leaders in corporate tax departments across the U.S. Key takeaways include:

• Hiring Plans: 65% of respondents plan to hire 1-5 employees in 2023, with 77% saying they would not put hiring on hold even in a recession.
• Recruitment Methods: There's a decline in traditional recruitment methods, with 11% uncertain about how they'll recruit for open roles.
• Market Outlook: 82% expect continued salary and title inflation. Confidence in compensation being at market standards has dropped 21% since 2022.
• Work Structure: Hybrid work models remain dominant, with fully remote and fully in-office options declining.
• Tax Technology: 81% of tax departments don't have a dedicated tax technology leader, with half of those lacking anyone holding primary responsibility for tax technology.

The report highlights a generally optimistic outlook on hiring despite economic uncertainties. However, it also notes potential challenges in recruitment methods, compensation, and retention, especially regarding remote work opportunities. The lack of dedicated tax technology leadership is highlighted as a concern given the increasing importance of technology in tax functions.

The report suggests tax leaders should use this data to educate HR and financial leadership on the resources needed for retention, development, and critical new hires in the current market environment.