How to communicate your value. By Sean Stein Smith, CPA, CMA, CGMA A Fresh Pair of Eyes Communication is, of course, the key to any successful business or organization. Without effectively communicating the value proposition that the business is offering, the business will not be in business for very long.
QUESTION: What do you think is the key to a successful tax season? RESPONSE: There are many things needed for a successful tax season, but training and supervision are at the top of the list. This is being written in the heat of the tax season crunch and I don’t know many people who will change their procedures at this stage, but the truly successful practitioners will adapt and make changes as soon as a change is indicated. It’s called OJT – on-the-job training. It works. Ed Mendlowitz is the creator of The 30:30 Training Method
By Ed Mendlowitz 101 Questions and Answers QUESTION: I assigned four projects to a manager who reassigned them to a Staff 2 person and I gave a date when they were needed that was three weeks away. When I asked about the progress after two weeks, I was told that nothing was near completion. Now there is a super rush with much stress. How could this situation have been avoided? RESPONSE: First off – you are to blame. You did not work with the manager to see how she would assign the work and to whom.
The U.S. tax, accounting and bookkeeping industries are turning out to be one of the brightest spots in the nation’s economy, adding jobs faster than all but a handful of sectors, according to CPA Trendlines sources. Here CPA Trendlines reports on: Current hiring trends in each of the bookkeeping, tax, payroll and CPA segments of the industry. Average hourly wages for key segments. Typical hours worked per week. And trends concerning women in the accounting workforce.
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.”