The good news: 10,700 accountants hired. The bad: profit pressure. The U.S. tax, accounting, and bookkeeping industry added a seasonally adjusted 10,700 jobs in March, the ninth straight month of year-over-year expansion, according to CPA Trendlines sources. Women and non-exempt employees are making up the bulk of the workers returning to the industry, but not, it seems, to CPA firms, where caution seems to be continuing. At the same time, CPA Trendlines finds renewed pressure on fees and pricing while utilization rates and salaries continue to increase. – Rick Telberg CPA Trendlines Research In this report: Overall hiring trends Women employment CPA firm hiring Overall trends in pricing and billing rates CPA firm pricing trends Tax prep pricing Pricing for [...]
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At Microsoft, they worry about motivation, says Bruce W. Marcus, author of Professional Services Marketing 3.0. When everybody who holds any kind of a responsible job is making more money than any of them ever dreamed they would, and when they’re in an industry that would pay anything to hire them away, how do you motivate people? How do you get them to stay, and to produce at the high levels demanded by Microsoft and other high tech companies? Two ways. In this report: Five mistakes firms make. Four strategies that can’t miss.
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In this report, Sandi Smith, CPA and creator of Accountant’s Accelerator, directs practitioners to an online psychology test from a top university and shows how to put it to work for yourself. She describes a process for identifying personal characteristics that can aid in building a practice.
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Lessons from the best-managed firms. By Marc Rosenberg Author of “CPA Firm Management and Governance: The Managing Partner’s Guide to Running a CPA Firm Like a Business.” Baby boomer partners are rapidly approaching retirement age, resulting in a dramatic increase in new managing partners at firms. In fact, CPA Trendlines estimates that up to 25% of multi-owner firms are operating under managing partners who are relatively new to the job, with tenures under three years. And over the next five years, one-third of multi-owner firms will undergo a change in ownership and/or control.
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Rebound in confidence after two quarters of decline. Next Question: What’s your best career advice? Join the survey; get the answers. A leading measure of overall confidence among U.S. finance and accounting workers, rose 5.4 points to 55.8 in 4Q 2012 — ending a two-quarter decline, according to new data reported by CPA Trendlines. The new survey finds growing confidence in job availability and in workers’ personal employment situations, despite continued tepid sentiment in the strength of the economy.
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But many CPA firms appear to be missing out on the recovery. by Rick Telberg CPA Trendlines Research The nation’s tax and accounting industry appears to have re-started expansion with new hiring in January, after a two-month pause at the end of 2012 in November and December, according to CPA Trendlines research. But the gains appear to be concentrated in non-CPA-owned offices. Analysts are attributing the 2012 year-end economic stall to two major storms which slowed economic activity: One, Hurricane Sandy, and, the other, Congress, which has been gridlocked under a bubble of hot air. CPA Trendlines PRO members: Get the instant download full report (PDF, 20 pages), here.
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15 strategies for a first-time supervisor’s success. Here at CPA Trendlines, Ed Mendlowitz answers some of the toughest questions practitioners can throw at him. He’s the right one to ask. After more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, WithumSmith+Brown, where he remains a senior partner and consultant to professional services clients – he has the answers. We’re happy to have him at CPA Trendlines. Send your questions for Ed here, or chime in with Comments below. More from Ed Mendlowitz, The Practice Doctor Q&A: Why No One Listens to You | Fun Reads for Busy Season | When NOT to Offer a Free Initial [...]
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“Knowledge Gap” method uses a client-centric approach. Ed Mendlowitz answers some of the toughest questions practitioners can throw at him. He’s the right one to ask. After more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, WithumSmith+Brown, where he remains a senior partner and consultant to professional services clients – he has the answers. More for CPA Trendlines PRO Members: What Do You Think You’re Doing? | Can You Teach Judgment? | Clients’ Calls At Home | What You Need to Know before Expanding into Business Valuation | Asking an Attorney for a Referral Fee | Are Partner Retreats Really Worth the Cost? | Audit [...]
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Attract and retain the best and the brightest. by Jean Caragher Capstone Marketing Daniel Burrus, considered one of the world’s leading technology forecasters and business strategists and author of six books including “Flash Foresight: How to See the Invisible and Do the Impossible,” was the opening speaker at the 2012 CCH User Conference held this week in my new hometown of San Diego. Complete conference coverage: Cloud & Mobile Technologies Drive Change in Tax and Accounting | How Apple Is Changing Your Business | 10 Ideas to Keep Your Firm Moving Forward | Given the rapidly changing world in which we work, Burrus challenged us to look into the future to determine those hard trends (those that will happen whether [...]
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Survey of college professors provides clues for successful recruiting. Internships and social networks speak loudest when new college accounting graduates weigh their first jobs offers, according to a new Public Accounting Report survey obtained by CPA Trendlines. The study ranks the relative importance of factors to students when choosing a job offer, including: Access to latest technology Compensation and benefits Desirable location or geographic base Long-term career opportunities Technical reputation The firm’s long-term business outlook The firm’s quality of life in terms of an employee-friendly environment Whether the offer is from a Big Four firm Workplace diversity And the survey reveals the companies and CPA firms soon-to-be graduates are hoping to join: A company in private industry Any Big Four [...]
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Business demand drives hiring, new competition for talent. Special to CPA Trendlines Fueled by new demand from business clients, CPA firms of all sizes are looking to expand audit and tax practices and pursue new new market segments, according to a fresh report on the accountant jobs market. (PRO members: Get the full report, courtesy CPA Trendlines.)
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Best August ever. by Rick Telberg The U.S. accounting and bookkeeping sector of the economy added 3,500 new jobs in August bringing the full-time workforce in the industry to 955,000, a new all-time record high for the month, according to preliminary new data obtained by CPA Trendlines. RELATED INSTANT DOWNLOAD – 2013 Salary Guide JOIN THE SURVEY, GET THE RESULTS – The CPA Careers and Hiring Outlook: Job Satisfaction and Retention Benchmarks JOIN THE SURVEY, GET THE RESULTS – Top Talent Strategies: How to Identify and Develop Professionals for Management and Leadership Responsibilities In addition, the CPA Trendlines analysis shows:
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The Convergence of Three Aspects of CPA Firm Management
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Marks 16 months annualized expansion. But CPA firms are a different story. Accounting and bookkeeping services, All employees in thousands, thru July 2012 The accounting and bookkeeping industry, which includes CPA firms and payroll agencies, added a statistically meaningless 500 jobs in July, according to new data sourced by CPA Trendlines. July ended with 953,200 FTE’s, up from June’s 952,700. But it’s in the year-over-year gains where the trend is more clear. And the story at CPA firms is much different.
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One of the key ways to improve client and workplace relationships is by showing appreciation. “Too often” Leo Buscaglia, the author, once said, “we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around.” We can extend appreciation anywhere and everywhere — at home, at work, at school, and wherever you want to acknowledge those who make your life brighter. Here are a few ideas that might work for accounting firms:
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