what keeps you awake at night? find out what other cpas have to say. take the survey; join the discussion.
by rick telberg
at large
this news may seem like coal in your christmas stocking: the holidays are bringing few glad tidings in some of the profession’s biggest challenges.
according to a new aicpa survey, the most critical concern for the majority of firms with multiple professionals remains: finding qualified staff.
whether it is a firm with only a handful of professionals or a few dozen, finding qualified staff (at all levels) is the chief concern that keeps firms awake at night, according to the 2007 aicpa private company practice section’s (pcps) top management of an accounting practice issues survey.
the conclusion is far from shocking. staffing concerns have plagued the industry for some time. in fact, the results are in line with a bay street group/卡塔尔世界杯常规比赛时间 study, which found that more than half (55 percent, to be precise) of firms are understaffed. the findings of the top map issues survey further underscore the staffing crisis facing the profession.
looking to more accurately mirror the concerns of firms of various sizes, the pcps did not issue, for the first time, one overall top map issues list. instead, pcps released five separate top map issues lists that reflect the views of cpas who are sole practitioners and those in firms with two to five professionals, six to 10 professionals, 11 to 20 professionals and firms with 21 or more professionals.
the idea behind the new survey structure is that cpas can use the lists to benchmark their own experiences against those of other professionals in firms similar to their own, says jim metzler, aicpa vice president of small firm interests.
although finding qualified staff was listed as the no. 1 concern for firms with multiple professionals, sole practitioners listed tax complexity and concerns about standards and technology as their top concern. work/life balance also was an important consideration for sole practitioners.
it also was discovered that retention—a separate issue—grows more important as the firm size increases. for example, retention is the no. 5 issue for firms with two to five professionals, but moves up to the third slot for firms with six to 20 professionals, and it’s listed as the second issue for firms with 21 or more professionals. for the first time this year, the survey lists retention as a separate issue from hiring to get a better understanding of the challenges recruiting and retention pose for firms.
in addition, the survey says that keeping up with new regulations and standards is the no. 2 issue for all firms with up to 20 professionals. succession planning is a major concern for all firms with six or more professionals, and developing new partners is an issue for firms with 11 or more professionals. the leading issues facing practices with 21 or more professionals involve all human capital concerns.
however, marketing/practice growth and client retention—two challenges that appeared on the 2005 pcps top maps issue list—did not appear on any of the 2007 lists.
how cpas succeed: get the best ideas. take the survey; join the discussion.
copyright © 2007 bay street group llc. all rights reserved. used by permission.
