staffing & recruiting

whole person retention: when it’s not just the money

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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
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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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disruptors: nicole davis & jw davis show how to create your own pipeline

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change your business model, change your life.

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the disruptors
with liz farr

what would an accounting firm look like if you had never worked in public accounting? because nicole davis, cpa, and jw davis, a registered investment advisor, didn’t follow the traditional path to firm ownership. they reimagined what a firm could look like, starting from a blank canvas instead of the regimented, structured, paint-by-numbers design of traditional accounting firms.

more podcasts and videos: dawn brolin: grow your firm by shrinking it |jason blumer & julie shipp: move leaders out of client service | james graham: drop the billable hour and you’ll bill more | karen reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusion | bill penczak: stop forcing smart people to do stupid work | sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow |

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nicole is the founder and principal of butler-davis tax & accounting in the atlanta area, while jw is the ceo.

like many disruptor-led firms, jw explains that ”one of the really big things we focus on was work-life balance.” nicole adds, “if your culture is one of stress and long hours, then you really need to rethink your business model.”

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seven enticements to keep talent on board

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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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more big firms shut their doors to new college grads

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some 88.7% of top firms rate problem-solving skills among the most important criteria in hiring new college grads. technical skills rank fifth, at 67%. (nace)

firms that overhired in the covid-19 boom are now trimming their ranks.

by 卡塔尔世界杯常规比赛时间 research

despite widespread concerns in the profession about a talent shortage, the largest accounting firms in a new survey are cutting back on their hiring of new college accounting graduates by 16.1 percent this year.

more in staffing & recruiting: employee retention is easier than attraction | payroll leads job gains in tax & accounting sector |  disruptors: talent crisis? what talent crisis? |  letting staff go after tax season? bad idea |  firms culling clients as staffing woes persist | compensation’s up, but up enough to retain staff?

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reflecting broader economic uncertainties and budgetary constraints, half of all the biggest firms surveyed are gearing down for a recession, marking a sharp turnaround from the hiring spree sparked by a global pandemic that forced industries across the globe into transformational change, often staffed and driven by the biggest accounting and consulting firms.

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employee retention is easier than attraction

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four people seated around table

five conclusions from a new report.

by 卡塔尔世界杯常规比赛时间 research

the accounting talent pipeline problem isn’t going away. it isn’t even improving.

but it isn’t hopeless.

more: 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 | accountants bullish locally, bearish nationally | top performers lead in leverage, culling, outsourcing | auditing standards ‘yellow book’ updated | firms culling clients as staffing woes persist | revenue up at 59% of accounting firms … and more good news | 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.

 

a recent report from the pennsylvania institute of cpas points out that, though the problem is big and the obstacles many, cpa firms can, with enough effort, hold on to the talent they’ve got.

and retaining talent is a lot less expensive than trying to attract it.
read more →

payroll leads job gains in tax & accounting sector

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overall accounting profession employment

 

everyone is earning more this month, and most downs are slight.

by beth bellor
卡塔尔世界杯常规比赛时间 research

the tax and accounting profession is not a bad place for job seekers, it seems. a new analysis by 卡塔尔世界杯常规比赛时间 shows a lot of up notes, including some in the double digits.

more on jobs: let interns fix the staffing shortage? | accountants bullish locally, bearish nationally | accounting hiring hits another high | compensation’s up, but up enough to retain staff? | staff wages hit record high | despite staffing crunch, firms freeze pay raises | tax & accounting firms grow for 9th straight month | tax & accounting profession grows, but wages don’t
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

new highs are coming in:

  • the accounting profession overall
  • staff earnings
  • payroll staff
  • payroll staff earnings
  • women overall and in cpa firms

read more →

disruptors: talent crisis? what talent crisis?

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disruptors wiley, deshayes, satterley, etienne, penczak and vanover offer their takes on staffing in the accounting profession.

by amy welch

in a post-pandemic gig economy, the rest of the world laments the staffing crisis. however, while the solutions may not be easy, they seem to be pretty simple.  

follow the disruptors here

more thought leaders: james graham: drop the billable hour and you’ll bill more | karen reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusion | bill penczak: stop forcing smart people to do stupid work | sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow | jody padar: build a practice that works for you, not vice-versa | ira rosenbloom: with m&a, nobody wants a fixer-upper | peter margaritis: the power skills every accountant needs | joe montgomery: find the sweet spot of the right clients, right services and right prices | marie green: your bad apples are ruining you | megan genest tarnow: hire for curiosity rather than compliance | clayton oates: one way to keep clients for life |

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

in the 卡塔尔世界杯常规比赛时间 disruptors one-on-one interview series with liz farr, some of the profession’s most innovative thinkers suggest solutions ranging from re-examining your firm’s culture to tapping into two-year colleges for new talent. here, several weigh in on what they see as the potential answers to one of the most troubling issues in the accounting profession.

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letting staff go after tax season? bad idea

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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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firms culling clients as staffing woes persist

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man in suit exiting office building

others tap outsourcing, training clerical staff as solutions.

by 卡塔尔世界杯常规比赛时间 research

early results from the 卡塔尔世界杯常规比赛时间 2024 busy season barometer: emerging issues, opportunities, and trends are showing a painfully persistent problem with staff shortages, though it seems the hardship may have improved a bit since last year.

more: revenue up at 59% of accounting firms … and more good news | compensation’s up, but up enough to retain staff? | are accountants charging too little? | chatgpt for the reluctant accountant | cpas needed to help small biz adopt ai | revenue growth is top priority for small firms | is the cpa business model the clog in the pipeline?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

this year, like last year, survey respondents are reporting staffing as the second most common concern. last year, it was reported by 47 percent, almost tied with the main concern: late or unprepared clients.

this year, uncooperative clients still rank first, at 50 percent, but staffing concerns have dropped to 37 percent.
read more →

compensation’s up, but up enough to retain staff?

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young woman seated at laptop counting money

people are leaving the profession. more money is one solution.

by 卡塔尔世界杯常规比赛时间 research

the aicpa’s 2023 national management of an accounting practice (map) survey came up with an odd statistic. kind of hard to believe until you get the context.

the finding: the median employee turnover rate across all cpa firms is … 0 percent.

yes, that’s a zero.

more: are accountants charging too little? | chatgpt for the reluctant accountant | survey shows challenges, priorities shifting | can big data spot financial fraud? | accountants torn over 2024 economy, offer advice | survey: are you offering the right services? | survey: 42% of accountants turn away work over staff shortages | talent gap widening: be very scared | cpa biz is booming, but for how long? | the 7 categories of cybersecurity solutions firms need
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

but wait. a median, as they say, is only half the story.

the bigger story – the broader context – is that more than half the responding practices had zero turnover, so the median fell at zero percent. but that goose egg doesn’t reflect the reality of firms at the other side of the spectrum.
read more →

tax & accounting profession keeps growing

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overall profession employment

 

more workers, with some making quite a bit more money.

by beth bellor
卡塔尔世界杯常规比赛时间 research

winter doldrums didn’t seem to affect the tax and accounting profession, which saw several sectors hit new hiring highs in february.

elsewhere in the nation, total nonfarm payroll employment increased by 275,000 in february, nudging the unemployment rate up to 3.9 percent. professional and business services saw little change for the month.

more: accounting hiring hits another high | staff wages hit record high | despite staffing crunch, firms freeze pay raises | tax & accounting firms grow for 9th straight month | tax & accounting profession grows, but wages don’t | tax and accounting pay advancing at 5.9% pace | accounting jobs up 4% for year
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

overall accounting profession employment at a record 1,163,600 was up 1,000 or 0.1 percent for the month and 29,600 or 2.6 percent for the year. employees averaged 35.9 hours per week, down 6 minutes or 0.3 percent for the month but up 6 minutes or 0.3 percent for the year. their earnings hit a new high of $41.41, up 21 cents or 0.5 percent for the month and 34 cents or 0.8 percent for the year.
read more →

accounting hiring hits another high

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overall employment in the accounting profession

 

tax prep is less than half the increase.

by beth bellor
卡塔尔世界杯常规比赛时间 research

is the accounting profession closing its staffing gap?

it sure seems that way, as employment hit an all-time high in january. women fared well, too, reaching record levels in the field overall and in payroll services.

more: staff wages hit record high | despite staffing crunch, firms freeze pay raises | tax & accounting firms grow for 9th straight month | tax & accounting profession grows, but wages don’t | tax and accounting pay advancing at 5.9% pace | accounting jobs up 4% for year
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

nationally, unemployment held at 3.7 percent as total nonfarm payroll employment increased 353,000, according to the latest data available to 卡塔尔世界杯常规比赛时间 research. of those new hires, 74,000 came in professional and business services, well above 2023’s monthly average of 14,000.
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accounting jobs back on the rise

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overall accounting profession employment

 

tax prep is an exception.

by beth bellor

the accounting profession has regained some ground in the most recent jobs data available to 卡塔尔世界杯常规比赛时间 research. there are 1,162,100 people employed in the field, up 4,400 or 0.4 percent for the month and 30,400 or 2.7 percent for the year. the figure is just 1,200 shy of the record set in july.

 

more: staff wages hit record high | despite staffing crunch, firms freeze pay raises | tax & accounting firms grow for 9th straight month | tax & accounting profession grows, but wages don’t | tax and accounting pay advancing at 5.9% pace | accounting jobs up 4% for year
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

nationally, overall employment – total nonfarm payroll – increased by 216,000 the same month, pegging unemployment at 3.7 percent. professional and business services added 13,000.

accountants are putting in 36.2 hours weekly – the highest mark since october 2022 – up half an hour or 1.4 percent for the month and 12 minutes or 0.6 percent for the year.
read more →