STAFFING & RECRUITING

Payroll Services Rocket with U.S. Economy

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CPA firms expand by 6%. Tax prep takes losses.

line graph
^ Staff employment in payroll services

New highs in headcounts and hourly wages.

By Beth Bellor

There were bright spots in several sectors of the latest employment figures, but let’s get the ball rolling with the most gleaming: Payroll services, which set a couple of new highs on the way to positive year-over-year marks in every measure but hours.

And by “positive,” we mean the likes of 16 and 17 percent.

MORE on STAFFING: The Disruptors: Re-Inventing Accounting with Tyler Anderson | Stop Complaining and Start Innovating | Staff Retention for Remote Workers  |  Staffing Shortage Cripples Growth at 40% of Firms  |  Is It Time to Outsource?   |  The Six Essential KPIs for Managing Partners  |  Competing for Talent in a Private-Equity World  |  The Great Resignation: Five Reasons Accountants Are Quitting  |  A Tech Stipend for Employees? Why Not?  |  Five Ways to Get Staff to Own Their Work

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Payroll services overall hit a new high of 192,300 employees, up 1,500, or 0.8 percent for the month, and 28,800 or 17.6 percent for the year.

Those employees worked 35.8 hours, up 12 minutes or 0.6 percent for the month but down 2 hours 6 minutes or 5.5 percent for the year.

Their earnings set a record at $40.53, up 20 cents or 0.5 percent for the month and $5.18 or 14.7 percent for the year.

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Top Issues for 2022: Talent, Time, and Transformation

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Businessman pressing a "future" concept buttonPlanning today for still being in business 10 years from now.

Submitted by The Center for Accounting Transformation
improvetheworld.net

The Center for Accounting Transformation’s Public Accounting Advisory Board met last quarter to discuss some of the biggest issues facing the public accounting industry.

The strongest themes revealed during the meeting is that there simply aren’t enough accountants to handle the growing workloads; innovation and automation must be implemented faster to streamline processes and free up accountants to increase advisory services; and time, as the scarcest of resources, is the primary commodity for any professional, but is especially true for accountants.

During the discussion, board members considered causes and possible solutions, which firms can use to guide several strategic decisions in 2022. READ MORE →

The Disruptors: Re-Inventing Accounting with Tyler Anderson

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Watch the video or listen to the podcast.

Follow CPA Trendlines Podcasts on Apple here or grab the RSS feed here.

With Liz Farr

With accounting talent so scarce, tax and accounting firms may be surprised to find untapped talents within their current staff, according to Tyler Anderson, partner and director of A&A innovation at Accountability Plus.

MORE: The Disruptors: How to Scale with New Padgett COO Amanda Aguillard | Eat that Frog: Asking for a Prospect Meeting | Growing Revenue Through Client Service | Lease Accounting Is About to Get Very Real | Google Ads for New Tax Season Clients | Exclusive: Eisner CEO Charly Weinstein Explains the Private Equity Deal  | Flash Briefing: A “Call to Arms” after Private Equity Deal | Four Ways to Beat the Staffing Shortage, with Pasha Malik

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Key Take-Aways: READ MORE →

Making Partner: The Essential Metrics

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From mastering business-building skills to people-building skills.

By Marc Rosenberg

There are many ways to measure the performance of staff on the path to making partner.

MORE: Making Partner: What Managers Need to Know | The 17 Rules for Making Partner at a CPA Firm | Who Shouldn’t Be a Partner? | Nine Reasons People Are Promoted to Partner | How to Make Partner?
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As is my style, I will present far more measures than most firms actually use. But I doubt you’ll perceive any of the methods here as unimportant. They are not listed in any particular order of importance.

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