is your admin staff ready to support all your changes?
by jennifer wilson
rosenberg map survey
we like to say that we specialize in solving cpa firm problems and problems were way up in 2016!
more from the map survey: tech advances will lead to dichotomy | technology evolving faster than accounting firms | succession issues stalling some m&a | technology playing center stage in cpa profession
exclusively for pro members. log in here or 2022世界杯足球排名 today.
the #1 cause? succession, transition and the need to have the right next gen leaders in place to lead, grow the firm and fund retirements. in most firms, organic revenue growth was up but staffing – having the right people in the right roles in the right timing – wasn’t keeping up. more revenue, more clients and fewer resources led to a feeling of overwhelm in many firm leaders and talent.
every year, the authors of the rosenberg map survey ask the industry’s top consultants to share their observations of what they are seeing at cpa firms. specifically, they are asked the following questions:
- what kind of year was 2016? what were the major trends you observed? what were the issues you saw firms struggling with the most?
- 2017 is half over. based on your experiences this year, what are you seeing? what are the major trends? what are firms struggling with and what are they working on as the year progresses?
in 2016, we also saw a deepening divide between firms that are making the leap to a next gen culture, elevating young leaders and preparing for the very different future ahead, and those that
- simply don’t get it,
- are too complacent or
- are in denial and seem stuck in the “old way” of operating.
in those old-school firms, turnover was up as future leaders sought out a better firm and culture.
more of our friends are retiring and we’re seeing the face of firms change. gen x and millennial leaders are anxious to take over if they aren’t already in senior leadership positions. and they need to, so they can shift their firm’s culture, drive change and retain young talent. firms are beginning to learn about generation z.
technology is at the top of most firms’ strategy lists as they seek smart solutions to
- increase efficiency (with scan ahead/auto-populate technologies for tax),
- provide better insights (like data extraction tools and data analytics) and
- offer their clients a more customized, digital experience (with crm and social mining).
firm leaders are talking about services disintermediation and many are actively starting up advisory/consulting practices. overall, revenue growth still feels strong.
my view of the biggest struggle? having sufficient and adequate administrative resources to implement all of the change initiatives firms are firing up.