Loui Aylward’s Post

Since Sapphire transitioned to employee ownership in 2021, the firm has experienced significant benefits from our Employee Ownership Trust (#EOT). Their employees now receive 74% of the company’s #profits, which has boosted morale, improved retention, and aligned interests for long-term success. In his first op-ed for Accountancy Age, Mark Connor discusses how EOTs offer powerful advantages, including better succession planning and increased employee engagement, they aren’t for everyone. Firms need to consider the #costs, #restructuring requirements, and the need for strong financial health. #EmployeeOwnership #Accounting #EOT #BusinessStrategy #Leadership 👉 https://lnkd.in/e_Pu6nbP

Employee ownership can be a great way to exit your business over time, while keeping the goals and culture intact. It is also a great way to strengthen a business as employees feeling ownership and having actual ownership is different. It's an interesting path for accountants and bookkeepers to consider, especially since many workers expect equity compensation as they rise to the rank of partner, why not give everyone more ownership? #accountingandaccountants #employeeownership #mergersandacquisitions

Employee ownership can be a great way to exit your business over time, while keeping the goals and culture intact. It is also a great way to strengthen a business as employees feeling ownership and having actual ownership is different. It's an interesting path for accountants and bookkeepers to consider, especially since many workers expect equity compensation as they rise to the rank of partner, why not give everyone more ownership? #accountingandaccountants #employeeownership #mergersandacquisitions

In the quest for corporate success, retaining top talent is not just a strategic advantage—it's a financial necessity. This is especially true in finance, where the costs of turnover can jeopardize the growth and scalability of a company. A recent report from the Pennsylvania Institute of Certified Public Accountants (PICPA) sheds light on talent retention strategies that transcend the accounting sector, offering valuable insights for any company looking to preserve its most valuable asset—its people. Dive into the findings and explore how holistic employee engagement can dramatically impact retention rates. #thedealershipcfo #TalentRetention #FinanceLeadership #Accounting #CPA #EmployeeEngagement #WorkLifeBalance #CorporateGrowth #HumanResources #PICPA #ProfessionalDevelopment #BusinessStrategy

In the past few decades accounting firms have been working to incorporate work-life balance programs as a way to curb their high turnover rate. Unfortunately this hasn't done much to help, and turnover rates are still increasing. The author of this article found "that conflict surrounding work-life balance practices, and perceptions of unfair treatment with regard to their application within a CPA firm, were directly correlated to employee turnover intentions." What do you do to bring down turnover rates at your company? Let's talk about it. Read more here: https://lnkd.in/enRMt3Bd #AccountingLife #WorkLifeBalance #EmployeeRetention #CPACommunity #BusinessStrategy #CompanyCulture #ProfessionalDevelopment #LeadershipMatters #CareerGrowth #WorkplaceWellness

Forbes Finance Council members explore practical ways to inspire CPAs to take ownership of their careers and how business leaders can adapt their models to support this shift. Fostering a culture of growth, innovation, and entrepreneurship can improve employee satisfaction and client outcomes.

It's still amazing for me to think back on a most improbable career that began with one small team in an engineering firm, which was hired in bulk by a then-Big Six firm, which is now down to the Big Four. Happy to see my alma mater ranks at the top for what, to me, are important metrics. From the article: "Though the smallest of the Big 4 firms, KPMG is known to have the best work-life balance amongst its employees. The company places an emphasis on employee engagement and has the lowest churn rate of the Big 4."

When Randy Crabtree, Hank Berkowitz, and I decided to dig into employee satisfaction in the #accounting profession, we realized we had certain ideas on why they change firms or just feel burnt out. What we found was eye-opening, to say the least, and we plan to continue to dig into the issue of why professionals are leaving, where they go, and if they are satisfied with where they are. For now, see what staff are saying about where and how they work:

Does performance management create engagement or frustration for employees? Accounting Today shared insightful tips for designing a performance and compensation strategy for partners. https://lnkd.in/guwuyrAD But why should these approaches be limited to only partners? Let's level up. ⬆️ Let's apply these strategies for ALL roles to create an engaging talent management process that's engaging and motivating. 🛣️ Performance management should align with your firm's strategy for growth. Strike a balance between rewarding current performance and how roles are creating long-term value for the firm. 🔑 Transparency is key to success. All roles, not just partners, need to understand their performance objectives and how goals align to firm strategy. 📊 Don't just reward short-term metrics like billable hours, realization, new business originated, and total hours. Recognize and reward the long-term value that skills bring to the firm, including people development, growth and development, innovation, technical expertise, and client relationship management. 💡Bias undermines performance clarity and perceptions of fairness. Kick it out with data - use both comprehensive, quantitative data and regular feedback from a broad and diverse group. 🔄 Foster a feedback culture by creating continuous feedback loops - giving and receiving feedback to inspire performance excellence and illuminate pathways for growth. 🗣️Changes can feel daunting, especially if they affect performance expectations or compensation. If metrics or goals shift, communicate in advance and gather input to ensure changes are understood and embraced. Are you ready to future-proof your firm? Start with creating better performance management processes for all roles, leveling up performance and growth. ⬆️ Let's start a conversation.👇 How does your firm approach performance management? Share your thoughts, experiences, and insights in the comments below. If you're ready to elevate performance management at your firm, follow me for more. Let's #LevelUp together.✨ #PublicAccounting #CPAFirm #PerformanceManagement #TalentManagement #Compensation #Strategy #Leadership #Coaching #Feedback #ContinuousImprovement #QuantumWorkplace

The four-day week has begun to gain traction in recent years with small and large businesses alike both claiming it increases productivity and makes for a happier workforce.    But Adaptive Accountancy founder and Director, Brad Walker, has opted for an even more progressive approach which he says has dramatically benefited his business and employees. https://lnkd.in/eAg8T5A6   #SME #BusinessLeadership #HelptoGrow