december2021 - 27

FEATURE
but you don't want that. You need
to build an environment that is collaborative
and supports other staff. "
According to Rick Telberg, CEO
of CPA Trendlines Research, the
high turnover rates and staffing
challenges may not be a negative.
" Forty percent of firms are not taking
on new work, but 60 percent say
they are in expansion mode - even if
they can't find the people. But firms
with the highest potential turnover
are the best firms, innovating,
ahead on technology, hitting their
numbers. The people in play are at
the best firms, and yes, the best
people are in play. It's some of the
not best who are sticking around.
Maybe firms should force a little
turnover with clients and staff. "
EDUCATION
Directly related to staffing was the
career-readiness of recent university
graduates joining the workforce.
Many on the panel noted that
newly-graduated accountants have
theory-based education but little
practical skillsets.
" It's important to remember the
difference between training and education, "
noted Johnston. " Education
is long-haul, training is short-term.
Training is reactionary, education
is proactive. People are trying to do
everything in reactionary mode, and
while automation will help, it won't
solve the issues firms are facing. "
" What I've found in teaching at
San Jose State are several disconnects, "
said Annette Nellen, CPA, a
professor and director of the MST
program at San Jose State University.
" Half of our students are working
professionals, and their whole life
is connected to tech these days.
But the employment model still has
19th century elements. Students feel
overworked. It may be time for a new
social contract in the accounting field. "
Shimamoto, who was involved in
the AICPA's CPA Evolution Initiative,
suggested changes need to be made
in the curriculum, but equally so,
firms need to let staff work when
and how they are most productive.
Luthi agreed, saying the development
of education is moving in that
direction. " In three to five years from
now the market will be challenged.
Firms can't own every aspect of new
worker life. "
Luoma noted her firm is " reskilling
everyone that comes in, because
our firm has specific ways of doing
things. We are not a traditional firm
and are constantly evaluating how
to do things better. Which is why
we connect with local colleges - to
teach them what we're looking for.
Modern accounting is not just plugging
numbers into boxes - there is
creativity needed. "
MOVING FORWARD
How are firms working toward
solving these near and long-term
challenges? In addition to more generous
compensation, more attentive
staff management, and proactive
client management, many of the
participants had specific advice.
Gail Perry asked the group,
" What things are new because of
COVID-19 and how can firms take
advantage of these trends? Staffing,
models, type of staff? How can
firms change how we deal with
remote employees and clients? "
Nayo Carter-Gray, an EA and
founder of 1st Step Accounting,
noted that it may be necessary to
retrain clients. " We need to tell
clients that there are few financial
emergencies. Rarely do they need
an instant response. Firms should
try to operate like Apple or other
large, successful companies, " she
said. " You don't tell them how you
want to do business with them, they
tell you. Firms need to tell their clients
the same thing. Set boundaries
and rules of engagement. "
Diane Yetter agreed. " Clients
need to better adapt to remote
processes, " she said. COVID-19 has
DECEMBER 2021 ■ www.CPAPracticeAdvisor.com
27
made some adapt better, but old
school industries were not as able. "
Yetter is the president and founder
of YETTER Tax, a sales tax consulting
and tax technology firm.
But overall, firms need to be
completely on board with either
fully remote staff or at least a hybrid
model that enables staff to choose.
While many workers are
attracted to remote work, Nicole
Davis, CEO of Butler-David Tax &
Accounting, says some of her best
staff would prefer an office setting.
" Some staff say they can't work from
home. Some people aren't amenable
to it, " because of workspace issues,
distractions or other factors like
lower accessibility to business class
internet at home.
Carter-Gray agreed. " Some
people don't like work from home
- they need to separate the two
with a different environment. " She
says that some firms are providing
remote workers with a stipend
to use for occasional office space
rental, such as WeWork spaces to
supplement their ability to get the
job done. " ■
http://www.CPAPracticeAdvisor.com
december2021

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