COVID-19

The 14 Trends Crushing Today’s Accountants

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Business hand holding hot chart in crystal ballPlus: Nine fatal flaws in the accounting firm business model.

By Marc Rosenberg
The Role of the Managing Partner

One purpose of strategic planning is to address trends taking place in the profession to ensure that the firm isn’t caught flat-footed when major changes or opportunities present themselves.

MORE: 13 Traits of the Best Managing Partners | Top Issues for Millennial Managing Partners | The Managing Partner’s Secret Weapon | How a Good Managing Partner Impacts Profitability | How a Great Managing Partner Impacts Firm Growth | Compensation Is No Way to Manage Partners
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Believe it or not, most of these trends have not changed much over the past decade or so. And the global pandemic only served to disrupt the status quo and accelerate long-standing trends.
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16 Questions to Set Your Practice Goals

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Businessman pole vaulting toward his goalPlus three guidelines for setting financial targets.

By Anthony Glomski and Russ Alan Prince
Your $5-Million High-Net-Worth Practice

The accounting business was changing even before the onset of the COVID-19 crisis.

MORE: 6 Steps to Maximize Referrals | It’s All About Your Wealthy Clients | Conviction + Process + Expertise = Your Next $5 Million | A High-Net-Worth Practice in Four Steps | Don’t Ignore Life Insurance | Adultery and Other Messy Situations | How to Attract the Super-Rich
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Three of the factors that are possibly impinging on your ability to be as successful as you want include:

    • Significantly increased competition: From more accountants to other professionals encroaching on some of the expertise accountants provide, there is greater competition for the better clients.

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Four Ways to Beat the Staffing Shortage, with Pasha Malik

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Kill the billable hour, embrace remote work, stay flexible, get social, says Pasha Malik of Thyor.

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>  Get the podcast version and follow CPA Trendlines here

With Richard Rothstein

MORE on THE STAFFING CRISIS:  The Digital Toolset for Hiring at a Small Accounting Firm  |  Learning How to Hire amid COVID  | How COVID Rewrites the Rules for Recruiting | Steven Braunstein: New COVID Strategies for Staff Recruiting and Retention | IRS Has Recruiting Problems, Too | 12 Signs It’s Time to Outsource | How Aging Boomers Impact the Accounting Profession | Why Remote Workers Need Retreats | 44 Key Attributes for Assessing Staffers | Coaching the Right Way | 20 Best Practices for Staff Training and Retention | The Art and Science of Hiring: Three Essentials for the COVID Age | Uncover Potential in 10 Interview Questions | Why Your Firm Needs to Attract More Millenials | Why Small Firms Can Win the Talent Wars | The One Big Reason Your Hiring Sucks | Five Ways to Improve Operating Margin during COVID | Getting and Keeping the Best People | Be a Talent Magnet | Who’ll Quit Next? | Why You Must Constantly Push Work Down |

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Twitter and Linkedin are the go-to resources for finding new talent at the McLean, Va.-based Thyor group of companies, founder and CEO Pasha Malik tells Richard Rothstein for CPA Trendlines.

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How to Embrace the Blended Future of Work

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Convergence Coaching research suggests eight steps to take.

By CPA Trendlines Research

The COVID-19 pandemic has been many things for many people.

For the wise, it’s been an education.

MORE: The Future is Blended: Combining Remote and Office Work
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Or, to put it another way, the mother of invention.

CPA firms have been quick to invent. What the wise have realized is that the inventions aren’t temporary measures destined to disappear when no longer needed. Many are here to stay, and the accounting industry will be better off with them.
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Staffing: The Digital Toolset for Local Firms

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Manny Cosme explains how and when to leverage ZipRecruiter, Indeed, and social media.

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With Richard Rothstein

Accounting firms need to use every tool available to maintain a fresh supply of top-notch talent, according to Manny Cosme, President of CFO Services Group, in this CPA Trendlines interview with Richard Rothstein.

MORE on THE STAFFING CRISIS:  “The New Normal” Will Never Be Normal Again  |  Learning How to Hire amid COVID  | How COVID Rewrites the Rules for Recruiting | Steven Braunstein: New COVID Strategies for Staff Recruiting and Retention | IRS Has Recruiting Problems, Too | 12 Signs It’s Time to Outsource | How Aging Boomers Impact the Accounting Profession | Why Remote Workers Need Retreats | 44 Key Attributes for Assessing Staffers | Coaching the Right Way | 20 Best Practices for Staff Training and Retention | The Art and Science of Hiring: Three Essentials for the COVID Age | Uncover Potential in 10 Interview Questions | Why Your Firm Needs to Attract More Millenials | Why Small Firms Can Win the Talent Wars | The One Big Reason Your Hiring Sucks | Five Ways to Improve Operating Margin during COVID | Getting and Keeping the Best People | Be a Talent Magnet | Who’ll Quit Next? | Why You Must Constantly Push Work Down |

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Cosme makes some great points about working for a small nimble firm like CFO Services Group and the challenges of retaining great talent in the face of competition from bigger firms for high-quality talent. READ MORE →

Remote Work Is Here to Stay

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pie chart
The Next Normal Arrives: Fully 81% of accounting firms see an increase in remote work even as they re-open their offices. (Convergence Consulting)

As accounting firms re-open, they’re competing for talent on work-from-home plans and reaping windfalls with smaller offices.

By CPA Trendlines

No doubt about it, a capacity to work remotely has saved the tax and accounting business.

The question now is: What will tomorrow’s tax and accounting offices look like, post-pandemic?

MORE:  Learning How to Hire amid COVID | SURVEY: CPA Firms Reject Staff Vaccine Mandates   |  COVID-19 Changed What We Watch and How  |  Why Remote Workers Need Retreats   | Steven Braunstein: New COVID Strategies for Staff Recruiting and Retention   |  Josh Fisher: Battling for Staffers  |  “The New Normal” Will Never Be Normal Again   |  How and When to Leverage ZipRecruiter, Indeed, and Social Media  |  How COVID Rewrites the Rules for Recruiting  |  Staffing Shortage? Look at Your Business Model

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In fact, the increase in remote work is likely to continue and expand in the future. READ MORE →