Are intergenerational issues within your firm stressing you out? You're not alone. That's why we launched Accounting Tomorrow, a new Web site that deals with the changing dynamics of a multi-generational workplace.With fresh blog posts every day and a new story every week, www.accountingtomorrow.com is already generating commentary and feedback from its readers.
For example, Bill McGovern, a CPA from New Jersey, had a question regarding a column CPA firm management guru Rita Keller wrote called, "Got talent? Are they prepared for the future?" In her piece, Keller talks about how important it is for firm leaders to take a very hard look at their current team - from entry-level to senior managers and even at newer partners - and ask: Are they adequately equipped to market, sell and provide the kind of relationship-building environment to acquire and keep new clients (and new staff)?
McGovern asked: If a firm already has as much work as it can handle and has difficulty finding competent staff, isn't it irresponsible to be looking for even more work?
As editors of the site, Alexandra DeFelice and I thought we'd chime in, hoping others would jump in on the conversation, as well (if you've got a thought, by the way, it's not too late to comment).
DeFelice said that firms need to work smarter, not harder. They should sit down and evaluate what types of work - and which types of clients - earn them the most money and/or cost them the least amount of headaches. Put these ideas in writing and stick to them. Then, it's possible to "fire" those less-profitable clients who call all the time with problems that need to be addressed ASAP, and replace them with new clients.
I offered up a different opinion: Firms do have a responsibility to do things correctly and need to look internally on a regular basis to make sure that all their processes are like well-oiled machines. If they aren't, they should go back and re-assess the areas that creak. If there are staffing issues, such as not having enough staff to do work, then certainly the gap between business development and lack of qualified staff needs to be looked at. Why is it that the people doing the rainmaking aren't helping to find competent employees to actually do the work?
We've got more to say, but you'll have to go to the site for our complete responses.
Among the other things that you'll find while there are:
* Some useful tips from consultant Scott Ginsberg, who recommends wearing your name tag even after an event is over to increase your approachability and draw more people (and business).
* A look at how text messaging can serve communications - or not.
* How financial planners should start building relationships with the children of their Baby Boomer clients with the intent of managing their money.
* And the fact that 70 is the new 65, according to a new survey released by the American Institute of CPAs, which looks at how more Baby Boomers are postponing retirement because of the current economic conditions.
There's a lot happening at Accounting Tomorrow, and there's even more to come. Got ideas or want to contribute? Contact us by e-mail at
