most firms have a high retention rate per client. that means their clients stay clients of the firm for a long period of time. somehow the accounting profession has got most of their clients bluffed that it is hard to change accountants. it’s actually not.
partners will argue that clients remain with the firm because of the great relationship they have with their clients. i beg to differ. how can you have a great relationship with someone when you see them once or twice per year? read more →
we used to think the primary driver of staff productivity and retention was job satisfaction. but more important is employee engagement where staff think: “i get to go to work today,” instead of, “i have to go to work today.”
while satisfaction is important, an engaged employee is more productive, produces higher-quality work and is less likely to leave your firm. equally important, engaged staff create engaged clients. these clients spend more money with you by purchasing more services your firm has to offer. read more →
people fly and drive cars instead of using horses and carts. technology has replaced calculators, slide rules and how books are written. food is purchased at grocery stores instead of grown on the farm. read more →
in a survey we conducted of over 300 cpas, over one-third of respondents indicated that healthy effective communication at their accounting firm only happened “sometimes” or “rarely or never.”
with many facets to overall communication between team members and from leadership to the organization, it’s hard to pick the next thing to try and improve the status of communication at your firm. one to try if you haven’t? the stay interview. read more →
question: i have a small practice and have a staff person with me eight years (who had nine years of experience before coming to me) and i want to offer him some profit-sharing percentage.
question: i know you advocate hiring out of school, but that seems to present a danger when they leave after we have invested so much training them. what can be done to retain them longer, if that is possible?
question: i have a longtime employee who asked me for a 33 percent salary increase, or she said she would have to explore options. how do you suggest i handle this?
additional information: she works five hour days every day and is paid by the hour. she gives me no added time during tax season. she also gets paid for an extra six days – which is for half of the firm’s allowed holidays – and for eight days for combined sick, vacation and personal days, and i pay her for half of her required cpe time (payment for 20 hours) and all the registration costs.
for henry & horne, keeping up with technology and finding and retaining good workers are primary concerns. while the phoenix-area cpa firm can only wait and watch while others develop new technologies for accountants and their clients, it’s proactively confronting its personnel concerns.
“for many cpa firms, recruitment, retention, and succession is the critical issue, but progressive, forward-thinking firms should see this as a true opportunity,” says chuck goodmiller, co-managing partner with chuck inderieden. read more →
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8 best practices.
focus on retention should turn into referrals.
plus 3 steps each on leveraging and retaining talent.
4 reasons staff are the #1 key to firm success.
want to boost retention? this is how.
regardless of your hire, there will be training involved.
