surprise: hard work and knowledge aren’t number 1. neither are skills or knowledge.
by rick telberg
above all else, the essential ingredient for career success as a cpa is not what you might think.
it’s not knowledge or ability; although you can’t be a cpa without either. it’s not hard work or integrity. but you won’t go far without them. in one word: it’s about “clients.” read more →
hint: it’s not about how smart they are or hard they work.
by rick telberg
how do you spot the hidden rock stars on your staff?
and what do up-and-coming tax, accounting and finance professionals need to know to get ahead in today’s profession?
these aren’t idle questions. many firms and individuals are struggling with these issues right now. but don’t take it from me. just listen to the decision-makers from a dozen firms i met with in a milwaukee hotel recently. the mission: learn how to deal with a looming new staff shortage. some took away solid action plans. “our firm,” said one, “is trying to develop our rock stars and this showed me we need to be doing more.” another said, “excellent! it gave us the details and the ‘how-to.’”
interestingly, the milwaukee group’s conclusions and recommendations closely parallel our related research findings. so we can be fairly certain that we’ve obtained some of the profession’s favorite strategies.
you could probably adapt one of our methods for your firm. in milwaukee, we divided the group into two teams, the green team and the blue team. after some preliminary coaching, each team hammered out a list of the top five talent indicators – the clues in an employee’s behaviors and attitudes that demonstrate the highest likelihood of the best roi for a firm’s time, energy, and money in training, coaching and mentoring. then the group filled several flip chart pages with their lists and hashed them out with each other. after identifying the key indicators, we moved on to identifying the best strategies for recruiting, grooming and retaining top talent.
by far, the top predictive indicator across all firms is the trait, “they are always trying to improve.” it comes in a few flavors or variations. for instance, the green team at the milwaukee strategy meeting favored a passion for “continuous learning.” the blue team preferred, “they do ‘extra credit’ – things that the partners wouldn’t normally expect from someone at their level.” but they add up to the same thing.
learn what it takes to attract the best talent and merger partners.
by robert fligel, cpa
rf resources llc
for many in the cpa business, organic growth is going to be very slow for the next several years. so, cpa firms seeking growth are:
but how do you position your firm to be desirable to merger partners or new talent?
step 1: start showing how much you care.
by krista remer and jennifer wilson
convergencecoaching
so, what does it really take to retain clients?
here are a few ideas that could help you focus on what really matters most to your clients:
maybe the 150-person firm in bellevue, wash., has found a winning formula.
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clark nuber is consistently ranked among one of washington’s best places to work and the firm has an 88 percent retention rate. tracy l. white, sphr, senior director of human resources, shares insights into what it takes to build a dedicated staff:
if it’s so simple, why are clients so surprised when it happens?
editor’s note: in the weekly research update (join here), we report initial results from a new nationwide survey of client attitudes. and it’s not necessarily a pretty picture. clients are clearly becoming more demanding, with higher expectations for service and value. and yet, too many cpa firms have yet to respond to the challenge. but then, that’s good for those that do. what’s your best client satisfaction tip? tell us here; we may quote you. — rick telberg
meanwhile, here are a few of the best client stories we’ve heard so far…
fight for the client, and win!
enrolled agent thomas blair has built a thriving practice and solid reputation as a taxpayer’s advocate in irs cases.
here are a few of blair’s stories, in his own words:
what’s your best advice for winning the battle for new clients?
by august aquila
aquila global advisors
today’s economic environment poses unique problems for cpa firms that want to bring in new clients. there is no single solution to growth in the present situation. firms must look at multiple ways to bring in more business.
the three main strategies that firms must embrace, which are not mutually exclusive, are:
1. growth through acquisition/merger
2. improve client retention
3. bring in new clients
rule 1: deliver a consistent message.
cpa and consultant steve erickson offers 10 tips to help firms in hiring and retention:
but they bill for it too.
the best firms, according to inside public accounting, start paying more from the first day and from the bottom up. for instance, ipa’s best of the best pay new graduates about $55,000, compared to $50,000 at their competitors — a 10% advantage that generally carries through every job level. read more →
marc rosenberg, author of the rosenberg map survey, says too many cpa firms fail to heed their own advice to clients: they don’t run their firms like a business.
“give them reasons to stay, not reasons to look elsewhere.”
pressure is building as economy recovers and staffers eye new jobs. cpa firms should begin bracing for new “compensation pressure,” according to the latest issue of accounting office management & administration report. “the extent of the pressure at small to … continued