coronavirus

how covid changes succession planning

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overhead view of people solving a large jigsaw puzzlelarger firms want to drive scale; smaller firms want more distribution and leverage.

by ira rosenbloom

even as the pandemic rips through the world with horrific tragedy, it is also spawning some new ideas, some critical imperatives, and some unforeseen opportunities, especially in the area of cpa firm succession.

more: top 10 steps to maximizing profitability
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we are witnessing a heightened interest in firms committing sincerely to mergers and other practice combinations, and there is now a shifting business culture that aligns better with internal practice succession than we have seen in a long while.

these shifts in succession potential are largely a function of technology, quality of life, client needs (and demands), and resources.

let’s break it down:

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five global cpa leaders: four survival strategies

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sometimes it takes a catastrophe to spur fundamental change, and that’s what we’re seeing today.

//www.g005e.com/2020/08/05/5-firm-leaders-on-how-covid-19-is-changing-their-thinking/
new imperatives, from the u.s. to spain, australia, and back: mcconnell, fay, tomasi, and majchrzak.

by bill penczak

the combination of the summer doldrums and the covid shutdown has provided some firm leaders pause to get in touch with their right-brainedness.

more marketing in the covid era: 5 things your firm should do differently this summer | do you have the guts to beat the covid crisis? | how to inoculate your firm against covid competition | ‘found money’ delights clients | don’t buy a rolodex, buy a process | the three r’s for beating the corona crisis | 6 reasons why your marketing sucks |

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these are difficult times for the economy and the industry, and while some firms hope to return to the good old days, covid and other societal changes may cause a long-overdue sea change in the accounting industry, which has been doing the same thing the same way for more than 100 years.

sometimes it takes a catastrophe to spur fundamental change, and that’s what we’re seeing today.

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the 14 trends crushing today’s accountants

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business hand holding hot chart in crystal ballplus: nine fatal flaws in the accounting firm business model.

by marc rosenberg
the role of the managing partner

one purpose of strategic planning is to address trends taking place in the profession to ensure that the firm isn’t caught flat-footed when major changes or opportunities present themselves.

more: 13 traits of the best managing partners | top issues for millennial managing partners | the managing partner’s secret weapon | how a good managing partner impacts profitability | how a great managing partner impacts firm growth | compensation is no way to manage partners
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believe it or not, most of these trends have not changed much over the past decade or so. and the global pandemic only served to disrupt the status quo and accelerate long-standing trends.
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16 questions to set your practice goals

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businessman pole vaulting toward his goalplus three guidelines for setting financial targets.

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

the accounting business was changing even before the onset of the covid-19 crisis.

more: 6 steps to maximize referrals | it’s all about your wealthy clients | conviction + process + expertise = your next $5 million | a high-net-worth practice in four steps | don’t ignore life insurance | adultery and other messy situations | how to attract the super-rich
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three of the factors that are possibly impinging on your ability to be as successful as you want include:

    • significantly increased competition: from more accountants to other professionals encroaching on some of the expertise accountants provide, there is greater competition for the better clients.

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four ways to beat the staffing shortage, with pasha malik

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kill the billable hour, embrace remote work, stay flexible, get social, says pasha malik of thyor.

^ click to play

>  get the podcast version and follow 卡塔尔世界杯常规比赛时间 here

with richard rothstein

more on the staffing crisis:  the digital toolset for hiring at a small accounting firm  |  learning how to hire amid covid  | how covid rewrites the rules for recruiting | steven braunstein: new covid strategies for staff recruiting and retention | irs has recruiting problems, too | 12 signs it’s time to outsource | how aging boomers impact the accounting profession | why remote workers need retreats | 44 key attributes for assessing staffers | coaching the right way | 20 best practices for staff training and retention | the art and science of hiring: three essentials for the covid age | uncover potential in 10 interview questions | why your firm needs to attract more millenials | why small firms can win the talent wars | the one big reason your hiring sucks | five ways to improve operating margin during covid | getting and keeping the best people | be a talent magnet | who’ll quit next? | why you must constantly push work down |

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

twitter and linkedin are the go-to resources for finding new talent at the mclean, va.-based thyor group of companies, founder and ceo pasha malik tells richard rothstein for 卡塔尔世界杯常规比赛时间.

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how to embrace the blended future of work

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convergence coaching research suggests eight steps to take.

by 卡塔尔世界杯常规比赛时间 research

the covid-19 pandemic has been many things for many people.

for the wise, it’s been an education.

more: the future is blended: combining remote and office work
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or, to put it another way, the mother of invention.

cpa firms have been quick to invent. what the wise have realized is that the inventions aren’t temporary measures destined to disappear when no longer needed. many are here to stay, and the accounting industry will be better off with them.
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staffing: the digital toolset for local firms

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manny cosme explains how and when to leverage ziprecruiter, indeed, and social media.

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with richard rothstein

accounting firms need to use every tool available to maintain a fresh supply of top-notch talent, according to manny cosme, president of cfo services group, in this 卡塔尔世界杯常规比赛时间 interview with richard rothstein.

more on the staffing crisis:  “the new normal” will never be normal again  |  learning how to hire amid covid  | how covid rewrites the rules for recruiting | steven braunstein: new covid strategies for staff recruiting and retention | irs has recruiting problems, too | 12 signs it’s time to outsource | how aging boomers impact the accounting profession | why remote workers need retreats | 44 key attributes for assessing staffers | coaching the right way | 20 best practices for staff training and retention | the art and science of hiring: three essentials for the covid age | uncover potential in 10 interview questions | why your firm needs to attract more millenials | why small firms can win the talent wars | the one big reason your hiring sucks | five ways to improve operating margin during covid | getting and keeping the best people | be a talent magnet | who’ll quit next? | why you must constantly push work down |

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

cosme makes some great points about working for a small nimble firm like cfo services group and the challenges of retaining great talent in the face of competition from bigger firms for high-quality talent. read more →

remote work is here to stay

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pie chart
the next normal arrives: fully 81% of accounting firms see an increase in remote work even as they re-open their offices. (convergence consulting)

as accounting firms re-open, they’re competing for talent on work-from-home plans and reaping windfalls with smaller offices.

by 卡塔尔世界杯常规比赛时间

no doubt about it, a capacity to work remotely has saved the tax and accounting business.

the question now is: what will tomorrow’s tax and accounting offices look like, post-pandemic?

more:  learning how to hire amid covid | survey: cpa firms reject staff vaccine mandates   |  covid-19 changed what we watch and how  |  why remote workers need retreats   | steven braunstein: new covid strategies for staff recruiting and retention   |  josh fisher: battling for staffers  |  “the new normal” will never be normal again   |  how and when to leverage ziprecruiter, indeed, and social media  |  how covid rewrites the rules for recruiting  |  staffing shortage? look at your business model

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in fact, the increase in remote work is likely to continue and expand in the future. read more →

nine smooth moves to build client satisfaction

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which do you need to work on?

by bill penczak

client relationships have never been more vulnerable, as other firms, reeling from the covid crisis, will be knocking on your clients’ door with promises of better service, more services, and lower rates.

more: re-thinking today’s firm with five global leaders | 5 things your firm should do differently this summer | do you have the guts to beat the covid crisis? | how to inoculate your firm against covid competition | ‘found money’ delights clients | the three r’s for beating the corona crisis
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

now, more than ever, tax and accounting firms should examine how they can constantly improve the service and relevance to their clients, for today and into the new normal.

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survey: cpa firms reject staff vaccine mandates

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post-pandemic: staffing tops lists of concerns, remote work here to stay. 

some 37% of cpas say their firms and companies will be making remote work options a permanent fixture. (via vscpa)

by 卡塔尔世界杯常规比赛时间
via the vscpa

the future of the tax, accounting, and finance workplace will include more remote working and hybrid options in the wake of the pandemic — and some office footprints will shrink, according to a new survey of cpas. but vaccinations won’t be required in many offices.

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