talent & career development

dustin verity: keep an open mind and constantly learn

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tech allows small to mid-size firms to provide better cas.

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transformation talks
with bill penczak
center for accounting transformation

center for accounting transformation
center for accounting transformation

dustin verity admits to being cautious. he also admits to being a technophile.

in the latest episode of transformation talks, the cpa explained being conflicted between his obsession with playing with the latest technology and finding the right fit for his firm.

more: secret to success? a growth and abundance mindset | o.d. lanier: stepping into advisory | from tax to transformation | early adopters gain an edge in audit | why the future is in risk advisory | four strategies for a future ready firm
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“i’ve always been interested in technology and, and you know, efficiencies,” verity said, always wanting to know how his firm could produce more and work more efficiently. “that means less hours that we have to spend in the office ourselves.”  read more →

it shouldn’t take so long to make partner

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group of four young professionalsbonus: a 15-point checklist for the path.

by marc rosenberg
how to bring in new partners

not too long ago, accounting today published a very interesting piece of research titled “the long path to partner.” the polling question: how many years does it take to make partner at your firm?

more: 16 steps to creating a partnership path | nine ways to measure staff performance on the path to partner | five people to keep out of partnership
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the results:

  • less than 5 years: 9%
  • 5-7 years: 12%
  • 8-9 years: 12%
  • 10-13 years: 30%
  • more than 13 years: 17%
  • don’t know: 20%

why does it take so long?

read more →

what makes an excellent tax return reviewer

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bonuses: a 10-question test (and answer key), plus 18 other issues you might want to test.

by ed mendlowitz
how to review tax returns: the field-tested update

firms have to decide who will do the tax return review, and how qualifed they are for this. ideally, trained tax department personnel are the primary reviewers. however, the bunching and compression of work often shifts some of the review to higher level, non-tax personnel such as audit managers and partners who might not have the comprehensive training, background, knowledge and experience to handle everything that comes up during the tax preparation process.

more: ‘quick and dirty’ tax review | when returns should be submitted for review | tax follow-up worksheets can mean more revenue | stop tax return review shortcuts | routine is key to reviewing tax returns | seven types of tax return reviews
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additionally, in many firms, almost everyone on the staff will prepare some returns to ease the almost insurmountable burden on the tax department. that lack of trained preparers, though, places an added burden on the reviewers, making it important for them to be more aware and alert when they perform the review.
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why time tracking still matters

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if your team dismisses timesheets as old school, you may want to rethink that strategy.

by frank stitely
the relentless cpa

pen ready to fill in blank timesheet

because capacity is the denominator in the lean six sigma equation, and employee productivity is a big factor in capacity, employee productivity becomes a big factor in determining turnaround time.

more: business owners face one of three exits | don’t let clients dictate tax workflow | make fewer mistakes, increase revenue and capacity | how small firms can win the talent wars | easy ways to avoid ‘done but’ tax returns | six ways to create a millennial-friendly firm | do you know your turnaround time?
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first, let’s dismiss all the consultants who tell us time tracking and productivity metrics don’t matter. for the most part, these consultants have never managed or owned cpa firms. rarely have they worked in firms for any length of time. they have never known the struggles of meeting payroll the first pay period in february, when employee hours are up but the tax season money is not rolling in yet.

here’s an example that shows why time tracking and productivity metrics matter:
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how do you value your most important asset?

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yes, your employees.

by steven e. sacks
the new fundamentals

skills, abilities and experience are the elements recruiters use to assess candidates who come before them. but what is interesting is despite a skill set playing  a dominant role in the value that an employee brings to the organization, it may not be recognized as such. this is not a new concept. i came across research conducted in 1918 by harvard university, the carnegie foundation and stanford research center.

more steve sacks: how to build a winning proposal | six ways to fix your firm agreement | the great resignation or a reshuffling? | listen to learn | build the framework to a solution with five answers | try for success, not a win
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the study discovered that almost 95% of job success comes from having well-developed soft skills (better referred to as life skills ) and people skills, while  only 5% of job success comes from technical skills and knowledge — hard skills.

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three types of skills you need to become a partner

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senior businessman mentoring two younger workerswhat is your firm doing to help staff develop these?

by marc rosenberg
how to bring in new partners

the old-school way of developing staff into partners was very simple:

  • staff are bountiful. those with the right stuff move up; we’ll move the others out and hire a new crop to replace them.
  • it’s up to the staff to pull themselves up by their own bootstraps and make their mark. nobody showed us how to make partner. nobody held our hands.

more: six ways new partners differ from managers | sixteen duties of a partner | seventeen basic expectations of partners | the four essentials for every new partner | five people to keep out of partnership | nine ways to woo a prospective partner | tell potential partners what it takes
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  • it’s up to the staff to tell us that they want to be partners. unless and until they show us this ambition, we won’t talk to them about becoming a partner.
  • bringing in business can’t be taught. you’re either born with it or you’re not.
  • and while we are on the subject of business development, we all know from experience that marketing must be done nights and weekends. clients are too busy during the day. and we need the days to get our billable hours in. so a partner must commit to working long hours, including nights and weekends, and be willing to sacrifice his or her personal life for the firm.

not much of a clear or easy path in those days, was there?
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why partners need written goals

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businessman pole vaulting toward his goalthree questions to answer about each one.

by august j. aquila
what makes a great partnership

“if you aim at nothing, you will hit it every time.” – zig ziegler

if we achieve what we measure, then it is true that we become what we think about most of the time. philip e. humbert, ph.d. wrote, “the human brain is a goal-seeking, problem- solving machine, and the things we think about, focus on, and worry about inevitably shape our destiny.”

more: seven keys to becoming an equity partner | how to create firm accountability | eight criteria for partnership | how to achieve partner unity | five questions to ask your partners about accountability | how you can get partners to change | the seven building blocks of a great partnership
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brian tracy says the four main excuses people make as to why they don’t have written goals are:
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randy crabtree: follow these 3 rules to keep employees happy

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randy crabtree: allow your employees freedom in two critical areas to win talent wars.

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the disruptors
with liz farr for 卡塔尔世界杯常规比赛时间

randy crabtree talks to a lot of other accountants and admits that he “steals ideas from everybody else.” imitation, after all, is the sincerest form of flattery.

more: erik solbakken: yes, you can work less and make more | donny shimamoto: future firm growth requires a mindshift | jennifer wilson: empower young workers to build the firm everyone loves | mike whitmire: re-think your hiring and training practices | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson

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one topic he’s been talking about a lot lately is the issue of mental health in the profession, which he feels is largely self-induced. although he’s been asked to talk about mental health without mentioning burnout–don’t be a downer–crabtree says it’s impossible. “i’m like, i’m sorry, but i can’t do that. it doesn’t go away if i don’t talk about it,” he said.  

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leadership must focus on talent, talent, talent

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red rocket rising above white hot air balloonsacquisition vs. recruitment.

by anthony zecca
leading from the edge

in my recently published book, “leading from the edge – creating a standout, high-performing organization,” i focus on the leadership accounting firms need to succeed in a future driven by seismic disruptors.

more: teamwork drives firm success | the two sides of the culture coin | four accountability steps for firm success | how to build a standout team | five keys to becoming a high-performing firm | assessing your firm | the 4 traits of great cpa leaders
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leadership has a responsibility and impact on creating the standout, high-performing talent necessary to drive the firm’s long-term strategy. we all understand and believe that at the end of each day, the firm’s greatest asset walks out the door (or in today’s world, disconnects). the quality of a firm’s talent directly relates to the success and performance of the firm.
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how small firms can win the talent wars

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three young people working in an officegetting creative can bring in better talent and better clients.

by frank stitely
the relentless cpa

one afternoon, the partner group of our outsourced accounting practice met for a state of the practice meeting conducted by our director of outsourced accounting. our prior director left and we were looking for someone when one of our newbies asked if he could be considered.

more: easy ways to avoid ‘done but’ tax returns | six ways to create a millennial-friendly firm | do you know your turnaround time? | why hiring out of school works | leadership growth is a two-way street | quiet quitting: are employers culturally aware? | how to guide students into accounting | three strategies to keep emerging leaders engaged
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the 25-year-old had one year of experience, and we were chasing a controller-type person. the whole outsourced practice was in shambles. revenue was nil and any clients we had were unsatisfied.
read more →