Monday, January 31st, 2022

Be Generous

“You cannot do a kindness too soon because you never know how soon it will be too late.” —Ralph Waldo Emerson

Sometimes I am puzzled by CPA firms. I know, you are probably laughing out loud right now! After so many years working with CPA firms, you would think I would have a complete understanding of what makes CPA leaders tick. I guess it could be described this way: I know how they think and what they think but sometimes it amazes me WHY they think the way they do.

The talent wars are here to stay. Your firm becomes who you hire and who you retain. These people help form your culture and your brand in your marketplace.

I frequently hear CPA firm administrators and HR directors talk about their various personnel policies. PTO is often a topic. What I often observe is that many firms are somewhat frugal with their PTO. Here is where I ask WHY?

Maybe to justify, I need to give you real-life experience. At the CPA firm where I worked for so many years, fourteen years ago when I left we were offering starting salaries that are very much in line with what I am hearing TODAY – 2022!

When it comes to PTO, progressive firms are generous – 2 weeks PTO to new college grads the day they walk in the door. An example from one firm regarding PTO: All accounting staff with 0-2 years of service received 15 days. Staff with 3-5 years received 20 days and all staff with 6+ years received 25 days. Several firms I know are offering unlimited PTO.

I am still hearing that new hires, in many firms, become eligible for  PTO (or vacation) after one year of service and maybe 10 years before they get 3 weeks and never for 5 weeks.

Why are firms being generous, why are they keeping in tune with market trends and attempting to hire the best talent?

There is a very simple answer and one you should heed: Your competition is doing it!

  • "A vacation is what you take when you can no longer take what you've been taking."
  • Earl Wilson

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