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:
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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
How CFOs can keep restless accountants on staff
cfo.com
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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
A personal perspective on employee ownership for accountancy firms - Accountancy Age
https://www.accountancyage.com
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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
A personal perspective on employee ownership for accountancy firms - Accountancy Age
https://www.accountancyage.com
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Create a workplace where people want to stay. According to Tamera Loerzel, addressing bad behavior and fostering a positive environment is crucial for employee retention: https://ow.ly/kaJC50TpwQ2 INSIDE Public Accounting
Confronting Bad Behaviors By Managers And Partners Takes Courage, Clarity And A Firmwide Commitment - Inside Public Accounting
https://insidepublicaccounting.com
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Nurturing Your Employees for Optimal Performance In this guide, we’ll explore the importance of nurturing employees for success, highlighting strategies and best practices to foster a thriving workforce. Read more here, https://lnkd.in/gAp3mvRm Book your free consultation now! https://lnkd.in/gcK4YRF5 #employment #employeeexperience #accounting #finance #santamonica
Nurturing Your Employees for Optimal Performance - Santa Monica Accounting
https://santamonicaaccounting.net
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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
The Conflict Surrounding Work-Life Balance in Public Accounting Firms - The CPA Journal
https://www.cpajournal.com
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Great to read our MD, Mark Connor's thoughts on Sapphire's transition to Employee Ownership. I've seen the last few years through a slightly different lens to Mark so I'll share a few thoughts from an employee's perspective... As someone who has been with the company for nearly a decade now, I’ve seen the evolution of Sapphire first-hand. We've undergone numerous changes over the years (growth, MBO, strategic changes, relocations) but for me, the EO transition has been the most significant step forward. It's definitely been more than a structural change. Although I don't think it happened overnight, there has been a clear mindset shift in terms of how we think about our company. The sense of ownership (figuratively) is stronger than ever. It’s no longer just about doing your job (it never was for most if I'm honest) every decision is more meaningful because we all have a direct stake in the outcome. When the company succeeds, we succeed, and that’s a powerful motivator. From a day-to-day perspective, the atmosphere has changed. There’s more collaboration, more willingness to go the extra mile. We’ve seen improvements in virtually every aspect of the business—staff retention is up, engagement is higher, and staff turnover is lower meaning we've kept our best staff and can build even better working relationships both with each other and with clients. And there's no getting away from it - the financial incentive of working for an EO company may prove to be lifechanging for many of our staff. As an employee there really is no down side to working for an Employee Owned firm. It's the future and I'm very proud and excited to work for a firm that's leading the way. #employeeownership #EOT #staffengagement #sapphire
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
A personal perspective on employee ownership for accountancy firms - Accountancy Age
https://www.accountancyage.com
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Accounting employers: Are you ready to help your employees reduce stress, increase their productivity, and improve their well-being while incorporating more of what they truly want into their lives? Are you one of the almost 9 in 10 accountants suffering from high stress due to working longer hours and the skills shortage? It's time to get the help you need to create an integrated work-life balance for your staff. Implement the Under Pressure: Stress Management and Productivity program in your firm. Schedule your complimentary clarity session today to learn more about how this program is helping accountants and other high-stress professionals enjoy their careers again: https://lnkd.in/g8HkNN6j
Accountancy faces 'mental health emergency'
https://www.personneltoday.com
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