outlook & analysis

when staffing falls short, clients get culled

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man in suit exiting office building

revenues are taking a hit.

by 卡塔尔世界杯常规比赛时间 research

who ever thought it would come to this – accounting firms reducing their clientele?

it seems to be increasingly common, and the reasons are clear. it isn’t a desire to reduce revenues. it’s a desire to keep up with the workload without burning out.

more: how accounting firms are dealing with retirement | next five years are critical for accounting firms | staffing turnover’s down, but why? | what’s your firm worth? private equity wants to know | the new pipeline: outsourcing and offshoring | is this the last year of accounting’s golden age?
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with fewer professionals entering the profession, and more of them leaving, more than half of practices are culling their less profitable or more problematic clients.

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how accounting firms are dealing with retirement

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older businessman sitting at desk smiling as wall clock indicates 5 minutes to retirement

burnout is driving some increases.

by 卡塔尔世界杯常规比赛时间 research

retirement’s great! long awaited, well deserved.

more: next five years are critical for accounting firms | staffing turnover’s down, but why? | what’s your firm worth? private equity wants to know | the new pipeline: outsourcing and offshoring | is this the last year of accounting’s golden age?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

but it’s not so great if you’re not the one retiring. at accounting firms, retirement often means trouble.

  • there may be no one to replace the retiree.
  • there may not be a succession plan in place.

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next five years are critical for accounting firms

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how deeply are you investing in your future? how are you treating the “three levels” of partners?

by allan koltin
the rosenberg national survey of cpa firm statistics

the next 12 months will start with a handful of firms breaking out of the pack and substantially raising starting salaries for new accountants in a way never seen before (see e&y’s recent announcement on staff salaries). the domino effect will play out here because if you raise first-year salaries to second-year compensation levels, your second-year staff will need to be paid like third-year staff, and this move will go all the way up to senior managers and principals.

editor’s note: every year, the rosenberg national survey of cpa firm statistics asks the profession’s top consultants two sets of questions:

    • how do you think the next 12 months will unfold? trends? predictions? other thoughts?
    • how would you assess the last 12 months? trends? observations? struggles?

more: staffing turnover’s down, but why? | what’s your firm worth? private equity wants to know | the new pipeline: outsourcing and offshoring | is this the last year of accounting’s golden age?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

the firms that are “uber” profitable will have an easier time funding this change than their peers. however, if you want to win the important war for talent (i mean attract, keep and grow future stars!), you will now need to pay up for them in a way we never envisioned (simple supply and demand economics in play).
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staff turnover’s down, but why?

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the aftermath of the great resignation leaves many questions.

by 卡塔尔世界杯常规比赛时间 research
rosenberg national survey of cpa firm statistics

as the pandemic wound down, there was a pretty big shakeup at cpa firms. almost a fifth of employees left their firm. some moved on to similar positions. some got canned. and some ditched the whole profession in a search for satisfaction elsewhere.

more: what’s your firm worth? private equity wants to know | the new pipeline: outsourcing and offshoring | is this the last year of accounting’s golden age?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

charles hylan – managing director of the growth partnership, which conducts the rosenberg national survey of cpa firm statistics – hazards a guess, based on his experience with cpa firms, that “a large number are leaving the profession altogether.” among all firms surveyed, i.e., firms with over $2 million in billings, “a whopping 75 percent of staff turnover is voluntary.”

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