Practice Management

Practice Management

The real reasons employees leave, and how to keep the best

by Jim WelchWhy do people leave teams and organizations? The number one reason people leave jobs is because they fail to connect with their bosses as leaders and as people. People are rarely honest about why they leave a company. Too many associates that depart follow Jimmy Conway's advice (played by Robert DeNiro) in the 1990 hit movie "Goodfellas," who told Henry Hill (played by Ray Liotta), "Never rat on your friends and keep your mouth shut." There is no upside incentive for the employee to be open and honest. Think about it!
Practice Management

Staffing costs on the rise for U.S. private businesses

Among private businesses in the United States, 48 percent are paying significantly more in staff costs than a year ago, according to the Grant Thornton International Business Report (IBR). While this number is noteworthy, it is lower when compared to private companies across the globe, 63 percent of which are paying significantly more for staffing costs as compared to a year ago. In India, for example, 85 percent of employers report seeing a rise in labor costs. With a number of U.S.
A&A

Surviving the final push to April 15

Attention CPAs in Chicago, New York and Houston: Your cities rank No. 1, 2 and 3, respectively, on the list of Top 10 Tax Procrastinating Cities in America.And if last year is any indication, next week should be brutal. Intuit, which makes TurboTax products, based its list on the number of federal tax returns electronically filed last year between April 14 and April 17. First, there are the clients. You know the type.
A&A

Is your language blocking your success?

By Dr. Pam Brill - "I'm burned out," "I've lost my drive," "I'm not interested," - these are words and images that sales pros have used to describe their falling motivation that accompanied their failing numbers. A sales pro in financial services, Chris had lost the passion and the spark that fueled him for making chilly cold calls and energy for the heated sprint to close the deal. With numbers down and still falling, Chris blamed the competition, the internal competitors, including the other sales pros in his division and the new kids on the block.
A&A

Seven ways to avoid becoming a bad boss

By Bruce L. Katcher, Ph.D. President, Discovery Surveys, Inc.Most employees experience a bad boss at least once in their career. Many feel they have never really had a good boss. Insensitivity, failure to communicate, and a lack of fairness are the hallmarks of poor supervision.Why is it that good supervisors are hard to find?Supervising is Not Easy Handling the complex issues of motivating employees and solving job and people-related problems is very difficult. Few are capable of handling these responsibilities well.
Practice

Managing the sales negotiation process

By, Michael SchatzkiHow many times have you heard:
Practice Management

Giving your business clients things they need

By Brian Hamilton, CEO, ProfitCentsWhen you go out to dinner, you are usually hungry. When you buy water, you are thirsty. When you buy a winter jacket, you want to stay warm. In these individual cases, the value exchange between buyer and seller is clear and there is a definite need and solution set. In accounting, it’s less certain that we are giving clients what they need. Sometimes, we don’t know what they need, which is born of the fact that we either don’t ask them or they don’t tell us.
Practice

CPAs can make sure nonprofit leaders are leading

Many CPAs are active in their communities. Many of those happen to volunteer their precious time to nonprofit organizations. You may be a CPA in a top position, or you may be a loyal foot soldier for a cause. Either way, evaluating the not-for-profit organization's leaders - or adopting key leadership traits - could be critical to the success of the organization in which you believe and invest so much time.The leadership capacity of a nonprofit or exempt organization is extremely important.
Practice Management

Keeping a lid on compliance costs

by Bob Mahan CFO, of Ajilon Finance The positive aspects of the raft of new accounting and financial reporting regulations are numerous. In a recent Deloitte survey, companies report they have a far better understanding of their chief risks and associated control mechanisms than just a few years ago. In addition, companies say internal controls are now far stronger, with the likelihood of material misstatements moving forward greatly reduced.
Practice Management

Mandatory partner retirement and succession planning is a hot issue

Source: INSIDE Public Accounting (IPA) As firms struggle with the balance of retaining quality employees, tapping into the talent of the partner group, and ensuring that opportunities are available for younger staff to move up in the ranks, the question of partner retirement - when, how and whether it should be mandatory - becomes increasingly important. The concept of mandatory partner retirement can be a touchy subject throughout the profession.
Practice

Growing the ranks of female leaders

Source: INSIDE Public Accounting (IPA) Women are rushing into public accounting, but too few are making it to the top levels of leadership. While more than half of the college graduates in accounting and new employees in CPA positions are female, the proportion of women partners and senior executives is between 11% and 19%, according to the AICPA's Work/Life and Women's Initiatives Executive Committee.Retaining experienced talent is a given for all firms these days, so a strong business case can be made for firms to develop more women leaders.
Practice Management

Multitasking not all it's cracked up to be

Recent scientific studies reveal the hidden costs of multitasking, key findings as technology increasingly tempts people to do more than one thing (and increasingly, more than one complicated thing) at a time.
Practice

Go home! 10 tips for keeping the workplace healthy during flu season

With a persistent new strain of flu affecting workers nationwide, employers may need to be more assertive to help keep the workplace healthy at the height of flu season, according to CCH, a leading provider of human resources and employment law information and services and a part of Wolters Kluwer Law & Business.Based on a CCH Survey, about half of employers (54 percent) send workers back home if they show up for work sick.
Practice Management

Political talk at work is a potential minefield

While discussions at work about the presidential election may seem inevitable, human resources experts warn supervisors that discussing political preferences can kill the bottom line.A survey last year by Harris Interactive showed that about one-fourth of all employees say their top managers make it clear to their subordinates which political candidates they prefer.
Practice Management

New strategy for building online communities

By Lynn Sheehan Building online communities for stakeholders including employees, staff, customers, and partners to increase communication, collaboration, and learning is a crucial strategic program to attract and retain the next generation of employees. Generally, it takes a catalyst to push stakeholders to interact online—especially the over-30 crowd.
Practice Management

Far from remote: The risks of mobile working

As many as 81 percent of hiring managers have policies in place that allow employees to work remotely, according to a study performed by Yoh, a talent and outsourcing services provider. And the results of a study released by study released by Cisco and Insight Express, an independent surveyor, which polled 1,000 remote workers in 10 countries, found that teleworkers frequently hijack neighbors' wireless networks, share computers with non-employees, and open e-mail from unknown sources.
Practice

In the real world, debits don’t equal credits, by Ronald J. Baker

A lot of rules have been added since the Venetian monk Luca Pacioli published the first accounting textbook in 1494, introducing double-entry bookkeeping. Unfortunately, one could also make the argument that it was the last revolutionary idea to come from the accounting profession. The balance sheet dates from 1868; the income statement from before World War II. Generally Accepted Accounting Principles (GAAP) fits an industrial enterprise, not an intellectual one. Currently, GAAP measures the cost of everything, and knows the value of nothing.
Practice Management

Beware of the germs hiding on your desk!

Over the next few months most accountants will eat at their desks several times a week, or even as much as twice a day with little thought to the health hazards that may be hiding on the desk itself. Bacteria from earlier meals may have settled, and are just waiting to attack your hands or your lunch. If you left your briefcase on the floor during a train commute, or if another worker just left some papers on your desk, more germs could have been transferred to your desk.
Practice Management

Survey says... Using survey results to improve your business

Can you name the top two key factors to an accounting firm's success? If you said Employee Satisfaction and Client Satisfaction, then you are exactly right.
Practice Management

Useful Resources for Business Development: Part 5: Hiring an Ad Agency

Are your Firm brochures a little stale? Does the Web site still look and read exactly as it did this time last year? Has the leadership team grown, service offering list changed, or client base expanded into a new niche? If you answered "yes" to any of these questions, it is time to engage the help of an advertising agency to update your marketing and advertising campaigns. How do you find the agency that is right for your firm? If you have more than three partners, establish a marketing committee to spearhead the agency search process.

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