Loyalty Tax: Accounting’s Lose-Lose Incentive System | Big 4 Transparency
Employees lose stability and firms lose money. So why do we do it?
Big 4 Transparency
By Dominic Piscopo, CPA
For CPA Trendlines
PAY & COMPENSATION
Use Smart Compensation to Drive Partner Performance
Five management objectives to address.
By Domenick J. Esposito
8 Steps to Great
“Show me your compensation plan and I’ll show you your strategy.” – Dom Esposito
As you strive to become a mid-market sustainable brand, your firm needs to become a performance-driven organization if you want to take advantage of future opportunities and drive growth and profitability. An effective performance management and compensation plan (PMCP) is critical to making your firm’s strategic plan a reality.
MORE by Domenick J. Esposito
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The basic premise is that compensation rewards first look to:
- how successful the entire firm is,
Michelle River: The Hidden Data Behind CPA Firm Burnout and Profit Pressure | Gear Up for Growth
How savvy CPAs are unlocking powerful insights buried in their practice management systems. Plus: Download the slide deck.
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Gear Up for Growth
With Jean Caragher
For CPA Trendlines
“What surprised me most isn’t what the data says,” says Michelle Golden River, CEO of Fore LLC, in a new episode of Gear Up for Growth, powered by CPA Trendlines. “It’s that almost every CPA already has it, and it rarely makes it into leadership conversations.”
Download Michelle River’s slide deck here
MORE Jean Caragher here | Get her best-selling handbook, The 90-Day Marketing Plan for CPA Firms, here MORE Gear Up for Growth | MORE CPA Trendlines Streaming Network here
River tells host Jean Caragher, president of Capstone Marketing, that firms are overlooking powerful insights buried in their own practice management data.
River challenges CPA firm leaders to rethink long-held assumptions about growth and sustainability. “There is no reason we should be taking a high volume of low spenders when it’s killing us. It’s ruining our sustainability chances,” she says
River leaves three top takeaways for CPA firms:
Seven Things Your Compensation Model Must Accomplish
Take a hard look at your partners.
By Domenick J. Esposito
8 Steps to Great
Let’s take a deep dive into both a firm’s partner mix and its compensation model.
MORE by Domenick J. Esposito
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In a “Good to Great” research study on high-performing organizations performed by Jim Collins, it was concluded that the method of compensation, as a causal factor for high and sustained performance, is largely irrelevant. The study concluded that whatever system is in use, it simply must be rational and equitably managed and that high sustained performance is largely the result of doing many things well.
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Accounting Enrollment Surges as Profession Rebuilds Its Talent Pipeline
56,000 new accounting majors since 2023.
By CPA Trendlines Research
Accounting programs at U.S. colleges and universities are seeing a resurgence after years of decline, providing fresh evidence that the profession’s talent shortage may be easing.
MORE The Fastest-Growing Jobs in Accounting Are Not Accounting Jobs | Crowdsourced Salary Data Sparks Accounting Change | Retention Isn’t About Perks or Paychecks Anymore | Why CPAs Quit Public Accounting | Students Who Get Ahead Don’t Wait for Graduation | The Staffing Problem Nobody Talks About | New CPA Licensure Pathway Opens Doors to Talent | | Gen Z Surges into Accounting for All the Reasons Your Mother Told You
MORE in Pay & Comp | Staffing & Recruiting
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New data from the National Student Clearinghouse and the AICPA show that accounting is now outperforming most other business disciplines in attracting undergraduate students.
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