to replenish the talent pipeline, go back to the classroom

woman lecturing on business

maybe we should front-load the coolest parts of our profession.

by 卡塔尔世界杯常规比赛时间 research

if you’re wondering why it’s so hard to find and hire qualified accounting professionals, think back to your college days … your first class in accounting, probably something like “principles of accounting.”

obviously you, a future accountant, passed the course, and apparently you found it interesting.

more: beware the work-life/workload doom spiral | why the dry pipeline? it’s about time | whole person retention: when it’s not just the money | seven enticements to keep talent on board | disruptors: talent crisis? what talent crisis? | seven steps to a stronger future | auditing standards ‘yellow book’ updated | compensation’s up, but up enough to retain staff? | cpas needed to help small biz adopt ai
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

but that puts you in a minority of students with an interest in business. according to a survey from the center for audit quality, 32 percent of students who chose not to major in accounting said lack of interest or passion was the main reason, and 70 percent said it was at least part of the reason.

no surprise, then, that only one in eight graduates in business areas major in accounting. and that’s down from one in seven in 2016.
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whole person retention: when it’s not just the money

bar chart

thirty-eight ways to retain personnel.

by 卡塔尔世界杯常规比赛时间 research

a survey conducted by the pennsylvania institute of cpas has come up with some disturbing data.

the survey report almost seems to spin bad news into good. when cpas in pennsylvania who have three to 10 years of experience were asked how strong is their desire to stay in public accounting, 56.7 percent rated their desire at five (out of seven) or higher.

more: global trends show many dissatisfied cpas | more big firms shut their doors to new college grads | seven enticements to keep talent on board | employee retention is easier than attraction | let interns fix the staffing shortage? | disruptors: talent crisis? what talent crisis? | 3 ways to raise the bar for your business | accountants’ advice: be careful, quick, creative … and lean | seven steps to a stronger future
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

is that good news or bad? if about half of cpas are reasonably happy with their jobs … what about the other half?
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seven enticements to keep talent on board

bar chart
more than 85% of those surveyed who have a high desire to stay in public accounting responded that their firm actively
supports their career development.

 

time is a concern, and so is performance.

by 卡塔尔世界杯常规比赛时间 research

the pipeline of incoming accounting professionals isn’t exactly gushing these days. to the contrary, it has slowed to an inadequate dribble.

the scarcity of qualified professionals makes talent retention more important than ever. it’s far easier and less costly to keep current people on board than to attract and onboard new people.

more: employee retention is easier than attraction | let interns fix the staffing shortage? | disruptors: talent crisis? what talent crisis? | seven steps to a stronger future | firms culling clients as staffing woes persist | compensation’s up, but up enough to retain staff?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

but what do they want? what keeps them happily at their current job?

well, for one thing, money.

but these days, that’s not enough.
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how a case of beer saved the u.s. financial system

great businesses are formed by trusting others … even if they need a 24-pack to get there.

by frank stitely
the relentless cpa

you’ve probably heard of the 1929 stock market crash, black monday, the dotcom bubble and the great recession. all of these combined pale in comparison to what almost happened back in 1986. save for a case of miller lite, our financial world, as we know it, would not exist.

more: even with value pricing, time tracking matters and here’s whyend tax season meetings with clients…seriouslyget clients to understand firm processes … or say goodbye | train now before it costs you down the road | keep clients from “balance due” shock | it’s ok to say no to clients (even the large ones) | you train your clients, whether you mean to or not | business owners face one of three exits
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

i landed this job not because of my fabulous accounting qualifications. i was a double major in economics/finance in college. i would have taken a job sniffing used toilet paper out of college with those academic credentials. i got the job solely from my relationship with paul karstetter, the second name in what eventually became stitely & karstetter, cpas.

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busy season is over, so it’s time for some resolutions

twelve things to do before you get busy again.

editor’s note: the end of every busy season means a new beginning for practitioners, which is why we thought this q-and-a was particularly timely.

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: do you have any suggestions for the new year?

more: hold staff accountable if you want them to listen to you | when selling a firm to staffers is tricky | courting a client? don’t give too much away for free | nine tips for a healthier tax season | fifteen strategies for first-time supervisors | measure knowledge gaps (then close them) | should you offer financial services? | ready to retire? selling your practice is no strategy | 20 things you need for a business valuation
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

answer: checklist of things to do in the new year:

  1. stop marking saly next to your new year’s resolutions. make one or two big-time life goals resolutions that you will do.
  2. check your personal insurance coverage. make sure you have adequate uninsured motorist, umbrella, workers compensation at your home and life insurance.

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letting staff go after tax season? bad idea

eight reasons they might be more valuable than you think.

by ed mendlowitz
tax season opportunity guide

question: i am planning on letting go of some staff after april 15 and will hire replacements at a higher level. any suggestions?

more on tax season: ten tax prep questions that people forget to ask | try this clean slate exercise | offer your tax clients other services | can your tax reviewers answer these 10 questions? | the top 12 mistakes in tax return preparation | six types of person: which are you? | answer these two questions first | help your tax clients, help yourself | what’s your value to your tax clients? | are you excited about tax season?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

response: 1) your implication is that you will hire replacements at a higher level.

i do not like that. i like hiring out of school and training internally. i’ve written about this many times and shared my ideas ad infinitum and will not repeat that here because you can search back to previous q&as (or read my 30:30 training method book).
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end tax season meetings with clients … seriously

clients who want to meet should be more than willing to pay for that meeting.

by frank stitely
the relentless cpa

what did dorothy and her friends fear in the wizard of oz? “lions and tigers and bears, oh my!” dorothy feared the wrong things if she was a partner in a cpa firm. we don’t see much wildlife in our offices during tax season unless you count fast-food delivery people and the occasional crazy client.

more: get clients to understand firm processes … or say goodbye | train now before it costs you down the road | keep clients from “balance due” shock | it’s ok to say no to clients (even the large ones) | you train your clients, whether you mean to or not | business owners face one of three exits | how small firms can win the talent wars | do you know your turnaround time?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

we should fear the events that destroy our priorities and drain hours from productive work. meetings and phone calls and emails, oh my! from a practice management standpoint, let’s look at why these communication methods are so destructive.

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