expect a blended workforce that works anytime, from anywhere.
by jennifer wilson
one of the biggest shifts because of covid-19 includes the move to remote work during the lockdown and the ensuing “a-ha” the profession experienced when they realized their people could be productive when working remotely – and most were doing it without child care to boot!
more: covid brought us more and better client communication
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firms that investing in cloud technology, moving to paperless processes, putting a laptop in everyone’s hands, and supporting remote work in some form prior to the pandemic were in much better shape making the quick pivot to 100-percent remote.
another big “aha” was the realization that firms should have helped their clients move to paperless and be better prepared for remote work pre-pandemic.
2019 was a year when firms were mostly constrained by their inability to leverage their work because they didn’t have the right level of talent, technology and business processes in place. the lack of capacity kept growth plans somewhat contained. firm talent was stretched thin and approaching burnout.
knowing the disruption was on the horizon with the rise of next-gen talent, clients, and disintermediating technologies, firm leaders realized they needed to change and adopt progressive approaches such as remote work, outsourcing, offshoring, non-traditional staffing, rightsizing their client base, elevating the role of partner, investing in a more digital client experience and more. that didn’t mean they were doing those things, necessarily, but they knew they needed to. and some firms were taking giant steps forward. the phrase i used the most in coaching leaders and facilitating strategic planning in 2019? what got you here won’t get you there.
there are too many big shifts because of covid-19 to name in this space. it has truly been a transformative period. i’ve been telling firms that this is the best dress rehearsal for large-scale disruption possible. we must take advantage of the opportunities.
going forward, everyone will realize that more work can be done remotely, opening up borderless reach for recruiting and client marketing, too. i predict that firms will never be able to “go back to normal” with respect to their expectation of their people working in the office or from client offices. the new normal, which we call the next better, will be a blended workforce that works anytime, from anywhere.
we have yet to see the economic impacts of the pandemic, because of the propping up of businesses afforded by the ppp and other funding. as that funding runs out and the virus persists, we will see more business failures, especially in hospitality, restaurants, entertainment and other crowd-based activities. these business failures will lead to a loss of work for cpa firms, especially those that were heavily invested in the “losing” industry segments. we haven’t yet seen the global financial impact either, which has the potential to affect the u.s. economy in the next year or two. firms need to keep a close eye on these economic possibilities.
there are also growth opportunities for firms that identify “winning” industry segments to pursue, such as home building contractors, home supply, cleaning companies, health care and testing facilities, paper manufacturers, food supply and more. winning services include client accounting and advisory, where clients are in need of assistance navigating funding, cash flow management, financial performance, restructuring and developing their own next better plans. there has never been a better time to be a business advisor to clients and that won’t change, either.
there could be some interesting outcomes from the pandemic, such as the possibility of real reform in the tax filing deadline process to lessen or even eliminate compression. the move to the july 15 deadline was a great proof of concept.
another idea for pandemic impacts would be the shift in our approach to the health and safety of our people. firm leaders truly focused on getting their people to safety first, and now, as plans for reopening offices are being put in place, the health and well-being of the team members has been a priority. i have been proud of the customized approach firm leaders are taking, understanding each person’s circumstances and their comfort level and supporting them in making the right decision for themselves in when – even if – they will return to the office.
smart firm leaders won’t force people back, because those who are least comfortable can easily find a new position with a firm that will support their desire to work remotely. firm leaders are also having to take great care with their people in terms of mental health and stability. the pandemic has created enormous uncertainty and a natural anxiety over the risk of falling ill. when covid-19 hit the u.s. in mid-march and stretched the spring busy season to july 15, it took a toll on the already stretched-thin, burned-out talent pool. a quick return to fall busy season, and then a short six weeks after that ends, rolling into the spring 2021 busy season will put people at risk. firms have to provide a lot of support for the physical and mental well-being of their people and prepare them to manage this very extended production period.