Tuesday, April 23rd, 2019

What Being on Salary Really Means

“When an actor comes to me and wants to discuss his character, I say, ‘it’s in the script.’ If he says, ‘But what’s my motivation?” I say, your salary.” – Alfred Hitchcock

According to the U.S. Department of Labor, when an employee is paid on a “salary basis,” this means essentially that she receives regular pay on a regular basis, and that this amount doesn’t fluctuate in regard to the quality or quantity of work actually performed.

Salaried positions often have a higher perceived status and job titles that seem more professional. Being salaried is viewed as having to work extra hours for no additional pay, but if you work less than 40 hours per week, you still get paid your salary. Salary allows for some degree of flexibility and stability.

How does this apply inside your accounting firm? You would think that salaried people would not be monitored as closely as hourly employees. However, as one client said to me recently, “We put them on salary but we treat them like hourly.” What are the benefits of being salaried at your firm?

I have observed that flexible scheduled and part-time people seem to receive more perks and are treated more equitably than full-time, salaried people.

  • "I came into the game when I broke into the major leagues, the minimum salary was seven thousand dollars, and I'd have to go home in the wintertime and get a job."
  • Nolan Ryan

Monday, April 22nd, 2019

Time to Participate in the Rosenberg Survey

Busy season is history and now it is time, once again, to participate in the annual Rosenberg MAP Survey. The information you receive is a valuable tool in helping you manage your firm successfully. Here’s more information:

The 2019 Rosenberg Survey is well underway and so far, we’ve received a great response.
Do you know which key statistics drive profitability? Do you know how your firm is performing relative to like-sized firms in similar markets? Participate in the 2019 Rosenberg Survey to find out!
For over two decades, The Rosenberg Survey has proven to be the benchmarking standard for mainstream accounting firms across the US and Canada. The Rosenberg Survey provides highly relevant and in-depth analyses and serves as a guide to help your firm make strategic decisions.
See how valuable The Rosenberg Survey is for yourself! The deadline to complete the survey is Monday, July 15th.

 

  • "Most firms are still stuck managing the compliance services at the expense of the advisory work."
  • Jeff Pawlow

Thursday, April 18th, 2019

Exceptional Service

“Every contact we have with a customer influences whether or not they’ll come back. We have to be great every time or we’ll lose them.” – Kevin Stirtz

Want to attract new clients? Then make your current clients say, “Wow!” Providing exceptional service is your best marketing activity.

This is from Tom Peters:

There’s a big Bain study I quote: 8% of customers think the service they RECEIVE is “exceptional.” 80% of companies think the service they GIVE is “exceptional.” I call it “the 8-80 chasm.”

If you want your clients to say, “Wow!” you have to do something unique, out of the ordinary. Enlist the help of all your people. What do they think you could do to achieve Wow?

Read more about your clients saying WOW.

  • "Assumptions are the termites of relationships."
  • Henry Winkler

Wednesday, April 17th, 2019

Team or Not?

For years, I have talked about CPA firm “teams”. I usually use “team member” rather than staff. I have contended that if you talk consistently about a team, maybe you will actually become one.

I recently read the following quotation by Simon Sinek:

“A team is not a group of people who work together. A team is a group of people who trust each other.” – Simon Sinek

It made me think about it in a completely different way. I believe a lot needs to be done to develop a strong level of trust within many accounting firms. I have observed that staff do not trust partners and vice versa.

Firm leaders, continue to work on trust within your firm. The best way to start is by setting a good example. Revisit The Four Agreements.

  • "Love all, trust a few, do wrong to none."
  • William Shakespeare

Tuesday, April 16th, 2019

Don’t Waste The Rest of The Year

“If you really want to do something, you’ll find a way. If you don’t, you’ll find an excuse.” – Jim Rohn

Be sure to take a few days to recover from tax season. Then get busy! Don’t make excuses the rest of the year.

April 16th – We can’t tackle revising our performance feedback system, we have to have some downtime for a while after April 15th.

May 1 – We can’t work on the new orientation/onboarding project now because everyone is taking some vacation since tax season is over.

June 1 – We can’t tackle revising our performance feedback system, it’s time to do them and we’ll have to wait until this year’s process is over.

July 1 – We can’t right now… too many people on vacation.

August 15th – We can’t do an upward partner feedback survey, it’s time to focus on the September 15th due date.

September 17th – We can’t possibly work on that organizational alignment project, we have to focus on the October due date.

October 15th – We’ll work on our succession plan after the partner retreat.

November 1 – Let’s see what we can get done in November!

December 1 – We’ll have to put a halt on that workflow project because we are so busy in December with tax planning.

January 1 – We’ll have to wait until after April 15th.

Sound familiar?

  • "Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy."
  • Dale Carnegie

Monday, April 15th, 2019

What Are The Minimum Hours You Expect Staff To Work?

“Better three hours too soon than a minute too late.” – William Shakespeare

The number of hours you expect your team members to work, throughout the year, is something that should be clearly communicated. Some firms expect significantly increased hours during February, March and half of April and also during the Fall busy season. More and more firms are adopting a four-day workweek during the summer months.

Kimberly Hawkins of Thomas, Head & Greisen (Anchorage AK), allowed me to share how their “Seasonal Schedule” works. I think it is rather creative and very reasonable compared to most CPA firms.

At the bottom of this page is more information from Kim about how they handle holidays, PTO days, etc.

We have what we call a seasonal schedule. Our work weeks range from 50 hours during tax season, to 32 hours during the summer and late fall. During our 32 hour work weeks, staff schedule a day off, which is typically a Monday or a Friday. This is our schedule for this year:

Seasonal Schedule 2018-2019-Minimum hours we would like someone to work due to the seasonal nature of our business:

Wk # Begin Date End Date Std Hrs
1        10/1/2018 10/6/2018           50
2        10/7/2018 10/13/2018         50
3        10/14/2018 10/20/2018       40
4        10/21/2018 10/27/2018       32
5        10/28/2018 11/3/2018         32
6        11/4/2018 11/10/2018         32
7        11/11/2018 11/17/2018       32
8        11/18/2018 11/24/2018       32
9        11/25/2018 12/1/2018         32
10       12/2/2018 12/8/2018          32
11       12/9/2018 12/15/2018        32
12       12/16/2018 12/22/2018      32
13       12/23/2018 12/29/2018      32
14       12/30/2018 1/5/2019          32
15       1/6/2019 1/12/2019            40
16       1/13/2019 1/19/2019          40
17       1/20/2019 1/26/2019          40
18       1/27/2019 2/2/2019            45
19       2/3/2019 2/9/2019              45
20       2/10/2019 2/16/2019          50
21       2/17/2019 2/23/2019          50
22       2/24/2019 3/2/2019            50
23       3/3/2019 3/9/2019              50
24       3/10/2019 3/16/2019          50
25       3/17/2019 3/23/2019          50
26       3/24/2019 3/30/2019          50
27       3/31/2019 4/6/2019            50
28       4/7/2019 4/13/2019            50
29       4/14/2019 4/20/2019          40
30       4/21/2019 4/27/2019          40
31        4/28/2019 5/4/2019           40
32       5/5/2019 5/11/2019            40
33       5/12/2019 5/18/2019          40
34       5/19/2019 5/25/2019          40
35       5/26/2019 6/1/2019            40
36       6/2/2019 6/8/2019              32
37       6/9/2019 6/15/2019            32
38       6/16/2019 6/22/2019          32
39       6/23/2019 6/29/2019          32
40       6/30/2019 7/6/2019            32
41       7/7/2019 7/13/2019            32
42       7/14/2019 7/20/2019          32
43       7/21/2019 7/27/2019          32
44       7/28/2019 8/3/2019            32
45       8/4/2019 8/10/2019            32
46       8/11/2019 8/17/2019          40
47       8/18/2019 8/24/2019          45
48       8/25/2019 8/31/2019          50
49       9/1/2019 9/7/2019              50
50       9/8/2019 9/14/2019            50
51       9/15/2019 9/21/2019          40
52       9/22/2019 9/28/2019          45
53       9/29/2019 9/30/2019            8
Year End Total                             2080

If a holiday is on a Monday and that is the day staff take their Seasonal Day, they can choose another day in the same week (Sunday – Saturday).  Staff can only have one Seasonal Day in a week.  I’ve also attached our Seasonal Variance Schedule.  If staff work on different projects, for example, 990’s, they may choose to take their Seasonal Days in different weeks, with approval.  Our staff takes PTO by days, so if they are on vacation during a 32- hour week, they only have to release 32 hours of PTO.  Once staff has selected their day off we add them to our vacation calendar and also to ProStaff.  ProStaff pushes an appointment to our Outlook calendars, blocking off our Seasonal Days.  We add this to the vacation calendar so we can easily see at a glance everyone out of the office that day.  Our staff also update their status in PM showing they are taking a Seasonal Day.

  • "If one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours."
  • Henry David Thoreau

Friday, April 12th, 2019

Managing Remote Employees

“A leader’s job is not to do the work for others, it’s to help others figure out how to do it themselves, to get things done, and to succeed beyond what they thought possible.” – Simon Sinek

It is finally becoming fairly commonplace in the world of public accounting. Firms are hiring more and more remote employees. Firms also seem to be struggling with exactly how to manage these somewhat invisible people.

First of all, don’t let them be invisible. There are just too many technology tools available today that can make a remote employee feel almost like one working inside your office.

Google, who employs nearly 100,000 workers spread over 150 cities in more than 50 countries (on five continents) did a study of more than 5,000 employees. They measured well-being, performance, and connectedness (and other things). They came up with recommendations on how to keep things consistent.

Here are three things they recommend for remote teams:

  1. Get to know your people
  2. Set clear boundaries
  3. Forge connections

Read this article via Inc. and learn more about these three things and how to make remote employees (and your firm) more successful.

  • ""We were happy to find no difference in the effectiveness, performance ratings, or promotions for individuals and teams whose work requires collaboration with colleagues around the world versus Googlers who spend most of their day to day working with colleagues in the same office," "
  • Veronica Gilrane, Manager of Google's People Innovation Lab

Thursday, April 11th, 2019

Get A New Job

“To find joy in work is to discover the fountain of youth.” – Pearl S. Buck

It has been a stressful, busy and maybe frustrating few months. In a few days, it will be over. You can recuperate for a week or so and then it will be on to new deadlines and responsibilities. Sometimes, we get burned out and our attitude slips downward.

I found this fascinating excerpt from Seth Godin’s book, Linchpin. I recommend it highly.

When I first read the following chapter, I immediately thought of the CPAs, firm administrators and the entire administrative team. It could apply to anyone working inside a CPA firm.  I have posted it before, several years ago, but I think this is a good time to read it again. See what you think:

Getting a New Job Without Leaving

One day, Binny Thomas stood up.

She stood up, spoke up, and started doing a new job.  She didn’t leave her organization, didn’t even get a new title or new responsibilities.  Instead, she started doing her old job in a new way.  Binny stopped going to meetings with the goal of finding deniability or problems to avoid. Instead, she started leaning in and seeking out projects where she could make a difference.

Suddenly, Binny was inspired. She was looking for opportunities instead of hiding from blame. She was putting herself on the line, pushing through the dip, and making things happen. The fascinating (and universal) truth is that the opportunities came after she was inspired – she wasn’t inspired by the opportunities.

Binny’s old job was just fine. She did it extremely well. She followed the map, followed instructions, did what she was told and got paid what she was worth.  Binny wasn’t in danger of losing her job, but she had already given up her soul. She had plateaued, this was the end. Then she changed her mind.

Six weeks later, she got a huge promotion and another, even better new job than the new job she had given herself. Binny is now running a worldwide program of motivated scholars. All it took was a choice. Binny didn’t ask for permission to do her job better; she merely decided to.

Are you looking to others to make your job better, more enjoyable?  Are you sometimes in denial? Are you doing an adequate job but feel like you have plateaued?  Read the last sentence of the chapter, above, again.

 

  • "Far and away the best prize that life has to offer is the chance to work hard at work worth doing."
  • Theodore Roosevelt

Wednesday, April 10th, 2019

Orientation and Onboarding

“People are not your most important asset. The right people are.” – Jim Collins

While the CPAs have been busy serving clients in tax season, I hope your practice manager or HR manager has used the time to make sure your firm’s hiring practices are in line with current trends. I believe that onboarding, in public accounting, can take up to a full year.

Here is a link to a blog I wrote in 2016 about how orientation and onboarding have changed in recent years.

Here is a link to a good article via Journal of Accountancy on the same topic.

Share this blog post with your HR professionals.

  • "If you think it's expensive to hire a professional, wait until you hire an amateur."
  • Red Adair

Tuesday, April 9th, 2019

Who Are You Traveling With?

“As soon as I saw you, I knew a grand adventure was about to happen.” – Winnie The Pooh

I read two quotes yesterday made me think about CPAs and CPA firms:

“In life, it’s not where you go..it’s who you travel with.” – Charles Schulz

“Sometimes the most ordinary things could be made extraordinary, simply by doing them with the right people.” – Elizabeth Green

During the past couple of months, you have been spending a lot of time with your team members, ALL the people who work in your firm or office.

How do these two quotes apply to you? Are you accomplishing extraordinary things?

Even tax season can be fun and meaningful when you are traveling through it with the right people.

  • "I have found out that there ain’t no surer way to find out whether you like people or hate them than to travel with them."
  • Mark Twain