“Maturity is a bitter disappointment for which no remedy exists unless laughter could be said to remedy anything.” – Kurt Vonnegut
I must admit, I was rather shocked when I read that there is a course to help Millennials become adults. What a concept! It’s happening in Portland, Maine.
A therapist, Rachel Weinstein, and a former public school teacher, Katie Brunelle, saw the need and put together a one-day session offering presentations on subjects like time management and budgeting.
They launched The Adulting School to teach millennials how to be functioning grown-ups by showing up on time and paying their credit-card bills, etc. They followed up by hosting happy hour sessions to tackle skills like cooking and networking.
Many of you might think this is actually funny. My first reaction was OMG!
However, I can see the real need for something like this for new college graduates as they enter the world of work, especially public accounting. The organizers put it like this, “You’re smart and capable – Your education just didn’t provide you with all the skills you need.”
I have written and spoken about the fact that adulthood has been “pushed back” by the millennials. Think about it. The Baby Boomers graduated from college, got married, bought a house, started a family in their twenties. The Millennials are doing all of these things in their thirties – a ten-year delay.
It is a big transition from college to work life and building a career. Be sure to offer your new college graduates assistance on making that transition. Be open and honest about your expectations and be sure they have someone to talk to about their new life (a coach or mentor). Time management could be just the beginning course.
Maybe your CPA firm needs an Adulting School. Maybe some significantly older people need an “adulting” course!
It’s September and I just received my copy of the 2016 issue of The Rosenberg Survey. It is the 18th Annual Edition. The Rosenberg Survey is one of the most popular and widely respected national MAP surveys for the CPA profession.
Comments and insights from many well-known CPA management consultants are included. Look for my comments on Page 21.
“When all think alike, then no one is thinking.” – Walter Lippman
It makes me SO happy when I hear about innovative things coming from people working at CPA firms.
While I often lament that we don’t see very much innovation and creativity within firms and that many firms are very happy with the status quo, there are some great firms out there leading the way for others.
The following is an announcement from CPA.com about the 2016 Innovative Practitioners’ awards.
CPA.com announced this week that Caitlin Lacher and Rachael Higginbotham, both representing Louisiana accounting and business advisory firm Postlethwaite & Netterville, have been named winners of the Innovative Practitioners 2016 Award. The annual award looks to recognize innovations in process, services or technology implementation in public accounting firms.
Lacher and Higginbotham both developed Pounce, a new business development tool, this previous summer. Pounce allows CPA firms to more easily manage and match staff resumes, industry experience, and other firm materials, allowing marketing and sales teams to quickly respond to new business opportunities.
Runner up:(One of my clients – Congratulations, Charles!)
Kathy Ryan of RoseRyan, Newark, Calif. Kathy helped develop her firm’s own in-house application, the RoseRyan Dream Team System, to automate time tracking, recruiting, revenue forecasting and more.
Dixie McCurley of Trusted CFO Solutions, Atlanta. Dixie helps lead CPA.com workshops on client accounting services in the cloud, but also walks the walk with her firm, developing customized accounting models for clients that deliver powerful data analytics for business decision-making.
For more on the 2016 Innovative Practitioners Award, head to CPA.com’s site here.
“Baseball is ninety percent mental and the other half is physical.” – Yogi Berra
Did you ever collect baseball cards? Topps baseball cards have been around since the late 1880s.
Who would think it, a CPA’s picture on a real baseball card?
I have blogged about my friend Robert Raiola many times. Why? Because he is unique among CPAs and exemplifies what being a CPA, famous for something, is all about.
Raiola is director of the sports and entertainment group at New York-based PKF O’Connor Davies. He appears on the 2016 Topps’ Allen & Ginter baseball card set, issued on August 13, which includes Major League Baseball players and other sports figures, such as radio host Mike Francesa and actor Kevin (“Field of Dreams”) Costner.
In the CPA profession, it used to be that many firms took “overtime” hours into consideration when establishing entry-level salaries often resulting in a higher beginning wage. However, many firms (mostly depending on geographic location) do not offer a salary of over $47,476 for beginners.
Even some long-time bookkeepers and other administrative professionals, currently on salary, do not meet the new threshold.
From a recent SHRM article: “It will be hard to accept and even implement,” said Robert Boonin, immediate past chair of the Wage and Hour Defense Institute, a network of wage and hour lawyers, and an attorney with Dykema in Detroit, Mich. “It’ll be a cultural change to many and perceived as a step back in career growth.”
You now need to be talking with your people, well before the deadline to comply – December 1, 2016.
Another excerpt from SHRM – very important in this world of expecting an instant response from your staff on weekends and after hours:
What about previously salaried workers who were used to responding managers’ e-mails or phone calls after hours?
“Managers can certainly continue to e-mail after hours and expect timely responses from newly nonexempt employees, [they] just need to be prepared to pay for the time,” Kilborn said. “Perhaps this is a chance for those managers to evaluate how badly they need that response from the employee if they know that they will be paying for it directly.”
Said Wise: “Regardless of what a supervisor may be used to … a manager may have to adjust expectations if response time would result in overtime, or an employer may have to consider financial ramifications if response time is critical and would require overtime.”
Read more here, on the SHRM site. Then get busy planning for this change and how it will impact your firm and your clients. They will look to your firm for guidance.
There is a lot of information on the web a about this new law – Google and read! The details seem to keep changing!
“A moment’s insight is sometimes worth a life’s experience.” – Oliver Wendell Holmes
I am working with the Ohio Society of CPAs on an upcoming program. It’s called the Business Excellence Symposium and is being held May 11th in Westlake, OH (Cleveland suburb).
I’m excited by the work OSCPA is undertaking to advance business across Ohio by helping CPAs and finance and accounting professionals be positioned to meet today’s business challenges head on to drive growth. The topic selection, and the expertise brought forth is really on-point for the greatest challenges facing our businesses, large or small.
Attend and gain strategies and insights from national leaders in the business and accounting community:
Create a culture that top talent can’t pass up – with tips from the leadership coach for The Ohio State University’s football program.
Maximize staff resources and harness the power of diversity.
Unlock growth strategies that leverage your specific skill sets as an accounting professional.
Develop practices to deliver better solutions to organizational challenges.
Learn about harnessing business growth potential via a panel discussion with me and Katie Tolin, CPA Growth Guides
All in all, it looks like it’s going to be a great event, you can see the details here. Also, if you can’t make the trip, note there is a live webcasted option.
This is a perfect symposium (and affordable) to send several of your millennial accountants.
If you decide to attend, you can use my personal invitation to get a 20% “friends of BES” discount. Simply send an email to email@example.com saying you learned about the Symposium from me and you would like to attend.
I am learning all the time. The tombstone will be my diploma.
All of us, in the business world, have been dealing with significant changes in the way we work. Accountants have been automating many of their tasks for years now. Remember the first “portable” computers we used in accounting firms? They weighed about 30 pounds but we still thought they were cool.
I am sure that, by now, you have been reading about the massive changes that are continuing to come our way. McKinsey & Co. estimates that 45% of all activities humans perform in the workplace can be done by software or machines.
McKinsey also estimates that somewhere between 85% and 100% of the labor, in 5 categories of jobs, can be done by machines rather than humans. Here are those 5 categories. Take note of #2.
Bookkeeping, accounting, auditing and billing clerks
Mechanics and automotive technicians
Construction equipment operators
Bakers and butchers
Maybe the talent shortage in the CPA profession will lead CPAs to more quickly move down the road to automation.