As one generation ages out, a new one reshapes the future of the profession. See the complete 2014 Roundtable By Jennifer Wilson Convergence Coaching Analysis Without a doubt, succession issues permeate all aspects of the firms we’re encountering. These include identifying and developing successors — especially rainmakers and practice leaders, ensuring that the buy/sell makes sense and can be sustained over time, determining retirement timing and issues, establishing and executing transition plans, communicating plans, recruiting new talent to backfill positions and exploring new ways to govern the firm to give more voice to those who will be taking over. Succession implications are far-reaching and can be consuming.
By Ed Mendlowitz “Tax Season Opportunity Guide“ QUESTION: I got a new client because of one of my employees. Do I have to give her anything? RESPONSE: Wrong attitude! You should want to give her something. You should be happy that a staff person was able to bring in business. Many firms offer referral fees, bonuses or commissions. I suggest paying 10% of collections for five years, as long as the employee continues to work for you.
Four quick fixes and a magic bullet. By August Aquila The fact of the situation is that too much time is wasted in meetings that don’t accomplish anything. We meet, we talk and we leave. No one takes minutes, there is no follow-up and we are all glad that another meeting is over. Don’t get me wrong; I am not a meeting basher. A meeting can be an effective way to make sure you are on course to achieve firm and departmental objectives and use your “bully pulpit power” as the managing partner.
More on The New War for Talent By Marc Rosenberg The Rosenberg Survey Professional staff turnover has jumped by much as 50% in one year, averaging now almost 18%. These results were across all firm size ranges. This data is hot off the presses of the Rosenberg MAP Survey. What happened? A return to the “old normal.”
Firms are hiring, and many staffers are thinking about a job change. Get more details, join the survey. By Rick Telberg CPA Trendlines Now five years since the banking crash that forced record layoffs at tax and accounting firms, new survey results from CPA Trendlines Research show intensifying competition for talent, with more than 42% of accountants reporting that their firms are hiring and about half of all staffers ready to make a move. “There’s a labor shortage out there,” according to Chris Hatcher, a partner at Louisville, Ky., Baldwin CPAs. “Finding good talent is hard.” Hatcher says Baldwin CPAs is looking for professionals with ambition, which he defines as an “owners mentality.” In this report, CPA Trendlines Research: – […]
By Sandi Smith Leyva, CPA Accountant’s Accelerator When you need to expand your team, the good news is there are many options available today: Full time vs. part-time Your location or theirs Contract or employee Permanent or temporary Project-specific or recurring And many more options Thousands of people are looking for work, and thousands more are looking for small tasks that they can do on the side. To find the perfect person for you, here’s a list of sites that help match you to the perfect person for your task, project or job.
Going beyond outsourcing and virtual workers. By Sandi Smith, CPA Accountant’s Accelerator The days are long gone when the only way to build your business was by hiring full-time employees. Now there are so many more choices. Many employees are interested in part-time work. Some prefer to work virtually, which frees a company up from being limited to local talent. And then there’s crowdsourcing, a whole new way to tap into talented labor on a project-by-project basis. Crowdsourcing is a special way to outsource a task. With outsourcing, you know exactly who will be doing the task. With crowdsourcing, you don’t; people just show up and contribute. Wikipedia calls it “distributed problem-solving.”