Practice Management

Practice

Some Hints For Client Retention

You've heard the saying, "For every $5 dollars spent earning a new client it only takes $1 dollar to retain one." But what does that mean? It means it's smarter to keep the clients you've got happy (and sell more services to them) than to continue acquiring new clients to replace the old clients walking out the door. So, why do clients leave? Fortunately, they usually don't leave due to lack of technical proficiency.
Practice Management

Recruiting in a Tight Labor Market - Work Smarter, Not Harder

Sure, you know the accounting labor market is tight, but everyone knows that, right? Right. But knowing this doesn't give you an advantage when many of your star candidates are talking with several of your competitors. Get a competitive edge by reviving your interviewing process.In this volatile labor market, it's not a matter of whom you want, but who wants you. How do you make your firm more attractive to new recruits? Surprisingly, it's very similar to the process you use to make your firm attractive to prospective clients. · Choose the right person or committee to interview.
Practice Management

A Perfect Match: Employees and Incentives

Want to reward your employees and beef up their loyalty to you, too? Then consider personalized incentives instead of cash bonuses this year. According to a recent survey published in Benefits & Compensation Solutions (Norwalk, Conn; 203/855-5525), 29 percent of employees are using their hard-earned bonuses to pay bills. Nineteen percent say they can't remember what their bonus dollars bought.This all-too-common money exchange robs both you and your employees.

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