2020 shed new light on diversity.
by tamera loerzel
wow, we have learned so much from this pandemic. the toll of the illness, deaths and impact to our medical providers and so many more has been staggering; there are lasting lessons and change that can benefit us all.
more: advisory services: real commitment or just talk? | covid-19 shakes up m&a activity | we’re in the fast lane… can your partners keep up? | 2021: you’ll never see ‘normal’ again | survey: we adapted to remote work … now what? | survey: 2020’s disruptions are only the beginning | covid brought us more and better client communication
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obviously, one of the most significant changes firms made is the swift move to remote back in march. this move to remote can be a competitive advantage for firms that truly embrace it now and aren’t waiting (or hoping) to “go back” to how it was.
remote or blended environments in firms provide borderless reach for talent and client acquisition, which can help with firm growth and the capacity challenge we experienced in 2019 that i anticipate we’ll find ourselves in again in 2021.
firms are now identifying where they are not digital in their workflow and service delivery, too, and working to close those gaps so they can train, manage and collaborate with team members and serve clients (and develop business) in this new model. one aha many firms had is that they may have been ready to pivot to remote, but many of their clients were not. firms have to figure out how to help their clients with their technology strategy, too, along with many other advisory services clients need.
firms that are pivoting and ramping up their advisory focus – including how they package and price these services – and defining new delivery and leverage models will look totally different in 2021 than the traditional cpa firm of the past. right now is a perfect opportunity to step back and be more strategic, even amid this uncertainty, so they can identify where to invest and focus resources while continuing to react to changing client, talent and market needs.
while not covid-related specifically, i’d be remiss not to acknowledge that 2020 has also shed a new light on diversity and inclusion in firms with the civic unrest that has spread across our country because of the systemic racism and racial inequality in our society. some firms have taken immediate action by holding listening sessions, developing educational programs, creating task forces to understand how they can address inequality in their own firms, and making monetary contributions to organizations such as the national association for black accountants – but there is much more to do! firms should develop their own d&i strategy with input from all levels and disciplines that defines specific objectives and measurable results to which the leadership team is then accountable.
even with the many changes we continued to see in 2019 with the continued move toward advisory, focus on technology and the role of data analytics, ai and cybersecurity, and continued succession planning and m&a, i think the number one challenge firms grappled with was capacity. ending 2019, many accounting professionals were struggling with burnout because of gaps in staffing and the inability to fill holes in their team with recruiting efforts. many firms made great strides in their talent programs, investing in learning and development, leadership programs, coaching and mentoring, and other benefits for their team members.
2 responses to “you like being remote, but what about your clients?”
bill briscoe
what if your clients really want to be able to walk in and get their taxes done while they wait? all this article says is to force them to use technology? “firms have to figure out how to help their clients with their technology strategy, ”
someone has to serve the clients who refuse to use their own technology for tax services. will that be entirely on walmart and jackson hewitt?
lesley orr
thank you for this interesting post. the title attracted me to click the link and read it a few times: “you like being remote, but what about your clients?” i was approached last week by a local tax prep firm to work for them as a “contractor” in their offices. the owner seemed to believe that “bricks & mortar” was what his clients still preferred. i acknowledge being clueless. so, from your research, what about the clients?