You're Not Going To Believe This...

Posted by TaxTalent 2 Years Ago | 0

A previously released report in 2019 shook the industry when it displayed that nearly two-thirds of the heads of corporate tax departments and an equally startling 52% of #2s (reporting to HoT) were projected to retire in the near future.

Fast forward two years – look at the bewildering numbers below.

• Due to the fact that there is a larger pool of older boomers, we expect these numbers to accelerate over the next few years as this generation gets older.
• Interestingly, we see the #2s retiring at a faster rate than the #1s. We did not foresee this trend as we expected #1s to exit the workforce sooner, as they are typically more financially sound. Ironically, the #1s don’t need the money, but they are still sticking around longer. 

Are you noticing this trend in your tax department? Reply below with your comments or experiences. 

Based on the industry need for good data, TaxTalent will release an updated report on this topic annually. As a TaxTalent member, you will receive updates on these demographic trends FIRST!

Are you curious about retiring baby boomers below the #1 and #2 levels? You’re not alone. We’ve had a number of inquiries for this data and we have the answers coming soon.