Is Success Compatible with Quality of Life?

Source: CPA Practice Management Forum

CPAs are earning more than they ever imagined, but they are also working harder. There is too much work and too few people. Productivity has been increased by Blackberries, e-mail, and other technologies, but these tools are creating a 24/7 work schedule. Here are some ways to alleviate the conflict between success and quality of life:

• Relieve stress by sharing responsibilities through team structures. Don’t deceive yourself by thinking it’s easier to do the work yourself than to teach someone else to do it.
• Make sure people are working in the right roles, making best use of their skills. This promotes passion for the work and increases career satisfaction.
• Keep people informed. When they know the facts, they’re more likely to do the job right the first time.
• Don’t wait for scheduled performance evaluations to give feedback. Instant feedback helps top performers feel appreciated and allows everyone to make immediate corrections.
• Develop women’s programs that provide mentoring, networks, and special training as a development and retention initiative.
• Accounting firms are involved in operations that don’t require accountants—marketing, technology, human resources, finance, and more. Use non accountant experts wherever possible so accountants can stick to accounting.
• One person shouldn’t try to retain all aspects of client control. Gradual delegation of this responsibility facilitates ultimate transition of the client, creates a higher level of client satisfaction, and promotes quality of life for firm members.
• Make sure time isn’t wasted on the wrong clients. Develop a structured client acceptance plan, and stick to it.
• Budget your time to limit your work to that which is most rewarding.
• Understand your limitations so you don’t waste time trying to exceed them.

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From CPA Practice Management Forum, CCH Incorporated, 800-449-8114, January 2007, p. 15.