How to Improve Productivity in a CPA Firm
Source: The Marcus Letter
In this white paper, Bruce Marcus sets forth, among other things, “the variables that can be controlled by a firm to increase productivity.” Here are some highlights:
- Technology—Accounting firms don’t know the breadth of technology applications, don’t place enough faith in technology, and underestimate the technical capabilities of staff.
- Staff—Firms should place more value on staff skills. Instead they tend to value staff in terms of their potential to become partners.
- Recruiting—It can’t be done as it used to be. New methods for recruiting and retention should be implemented. (See the following article: A List of Recruiting Ideas for CPA Firms.) Make this a link to the article see below
- Motivation—Professionals today are motivated by understanding the firm’s strategy and their roles in it. Team participation is key. Good internal communications are essential.
- Training—Firms will flounder if they don’t train their people in technical, marketing, and communications skills.
- Recognition—People must be recognized and rewarded for their contributions to meeting the firm’s goals.
From The Marcus Letter, Bruce W. Marcus and Bay Street Group LLC, Productivity, a Primer for the Competitive Firm, 2007, www.marcusletter.com.
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