the April 2024 | Volume 37 | No. 4
of the greater rockford business community
CHILD CARE ACCESS AND EDUCATION IMPROVEMENT
ROLE OF HIGHER EDUCATION IN MITIGATING THE SKILLS GAP
KRISTIAN WANLAND
DEEPSHIKHA SHUKLA
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2023 ROCKFORD AREA ARTS AWARDS
Where have all the cowboys, er, accountants gone?
The Rockford Area Arts Awards, hosted by the Rockford Area Arts Council, celebrate creative individuals and advocacy organizations who have contributed to the enrichment of the Rockford region. Congratulations to the 2023 honorees:
Adding up the deficit of financial talent
By Caitlin Pusateri, Greater Rockford Chamber of Commerce “Looking to hire an accountant for your organization? Good luck.” These opening lines of a May 2023 SHRM article entitled “The CPA Shortage” captured the state of the industry pretty well. While many industries are facing talent shortages, the accounting world seems particularly hard hit. Historically a well-paying career choice for students up for the challenge, accounting seems to be suffering a greater talent shortage than other industries. Manufacturing has long been concerned about its talent pipeline due to outdated industry stigmas combined with the prioritization of college degrees over vocational training. But the desk
of an accountant has never been called dark, dangerous or dirty, and the career most certainly requires a college degree and/or certifications – a pathway well supported, albeit expensive. But, according to a December 2022 Wall Street Journal article, more than 300,000 U.S accountants and auditors left their jobs between 2019 and 2021. This exodus of accountants impacts more than just the industry. The hurt is being felt by small- and mediumsized businesses as well as public sector organizations. The accounting shortage is more than what may meet the eye—it poses a critical challenge for businesses
as it impacts financial reporting, compliance, tax preparation and strategic financial planning.
Understanding the shortage So, yippy-yi, yippy-yay, where exactly have all the accountants gone? The shortage is attributed to a variety of factors, including changing demographics, evolving business needs and shifts in the educational landscape.
Demographic shifts The accounting profession is facing demographic challenges, with a significant portion of the workforce (continued on page 10)
Updated website & increased benefits coming soon! New website to launch in April
THE VOICE IS PUBLISHED BY
Join the Chamber on Social Media
The Voice is online at rockfordchamber.com
The Greater Rockford Chamber of Commerce is currently transitioning our database – an exciting behind-the-scenes endeavor that will soon be experienced by our membership! While many more details will be sent to members as we move through the implementation phase of our database transition, you can expect a dynamic website and member-portal experience with robust information suitable for the business community, economic development resources, and a more user-friendly interface. The new website and data transition supports our move from a “fair-share” investment structure to a “tiered dues” model. Our transition to this investment model better meets the needs of the business community, inviting investment that reflects the goals of an organization with high-levels of value and one-stop
transactions. Members will be able to easily bundle their Chamber engagement from investment to advertising, sponsorship to events with package pricing available. Members can expect price points that are similar to their current investment levels with additional benefits included. We are excited to offer a website that utilizes technology our previous system did not. From being able to update your own attendee names in events after registration to being able to see a clear “checklist” of available benefits, the membership experience will be enhanced by the newly revamped website and database experience. These are small examples of big changes that we are excited about. Stay tuned! You can find it all at rockfordchamber.com.
• Arts Educator of the Year – New Genres Art Space • Distinguished Artist of the Year – Nancie King Mertz • Excellence in Service to the Arts Award – Individual - Jennifer Kuroda • Excellence in Service to the Arts Award – Organization/Company – Maze Books • Innovation in the Arts Award – Rock & Roll Institute • Literary Excellence – Kimberla Lawson Roby • Performing Artist of the Year – Caitlyn Baylor & Meghan Baylor • Placemaking + Spacemaking – Domingos En El Parque • Production of the Year – Soar Awards • Visual Artist of the Year – Molly Carter • Young Arts Ambassador – Dice White • Lifetime Achievement – Jeff Hendry This year, the Arts Council featured Rockford Mass Transit as its partner.
LEADERSHIP TRAINING FOR WOMEN Registration is now open for the YWCA Northwestern Illinois Women’s Entrepreneur Leadership Academy. The free four-course program, supported in part by US Bank, provides women the tools needed to elevate their business. Participants will develop their executive presence, goals and communication skills through instructor-led interactive activities, role-playing and real-life applications. “We are proud to launch this new program to provide women business owners further opportunities for professional development,” said Kris Machajewski, YWCA Northwestern Illinois president and CEO. Courses will be held each Tuesday, April 30 – May 21, 5:30 to 7:30 p.m. at YWCA Northwestern Illinois, 4990 E. State St, Rockford. Space is limited, and registration closes on April 15. Interested participants can fill out a registration form online at ywcanwil.org/economicempowerment/ywca-nwilwomens-entrepreneurleadership-academy/ or by emailing Lisa Bock at Lisa.Bock@ ywcanwil.org.