Pub. 1 2019 Issue 3

M A Y / J U N E 2 0 1 9 18 nebraska cpas We’re nearing summer and, unfortunately, it’s very possible some of your team may not be with you by August. As hard as you try, some CPAs will simply decide to make this the year they move on to greener pastures. They may get lured out of public accounting or move up the ladder into a new firm. What we do know is that CPAs will be moving in the coming months. In my estimation, there are a couple of key contributors to this reality: • According to the Bureau of Labor Statistics, the accounting job outlook is projected to grow faster than the average rate of growth for all occupations, 10 percent for accountants and auditors compared to 7 percent for all occupations, from 2016-2026. 1 Now, consider that, according to the Accounting Institute for Success, the amount of licensed CPAs only grew at about 3 percent from 2006-2016. This growth delta has created an amazing amount of current demand for CPAs and a general crush of interest in those who have high potential. In short, it’s a good time to be a CPA. • Gallup research shows that while employee engagement is on the rise, roughly two-thirds of all workers in the U.S. are some level of “disengaged.” 2 Any amount of disengagement can result in active job seeking. Even your “engaged” workforce is prone to passive search for the ideal opportunity. So how do we unpack this and turn it into actionable advice for you? Here are five things you can start doing more of today to create a more sustainable talent management strategy: 1. Hire an intern and give them an important role. Win themwhen they are still in school andmake them feel valuable. If you are going to hire an intern, give thema role that is well thought out and part of the strategic mission of the organization. Use this in your interview process and compete for the brightest high potentials in the market. 2. Have more regular one on ones, performance reviews, and transparent communication. One very common refrain from candidates leaving their CPA firm, or any other role in professional accounting, is a feeling of disconnect from the owner, partners, or supervisor. Hiring managers tend to sell opportunities in the interview as being heavy on opportunity and growth, but then light on follow through with the plan. There is no generational bias around transparent communication on BY NATE ELGERT , AUREUS GROUP RETAIN YOUR TOP PEOPLE IN 2019 1 Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Hand- book, Accountants and Auditors, https://www.bls.gov/ooh/business-and-financial/ accountants-and-auditors.htm (visited May 9, 2019). 2 Harter, Jim. “Employee Engagement on the Rise in the U.S.” August 26, 2018. Gallup News at https://news.gallup.com/poll/241649/employee-engagement-rise. aspx (visited May 9, 2019). For more information, contact Nate Elgert at Aureus Group at (402) 891-6900 ext. 1307 or nelgert@aureus- group.com . Aureus Group is a leading provider of staff- ing and recruitment solutions, specializing in finance & accounting, information technology & systems, executive search, and healthcare leadership. Elgert has been with Aureus Group since 2006 and is currently the sales manager of the finance & accounting division. any level. We all crave to know where we stand and what kind of value we bring. Your best people want and need coaching to reach their potential and this is impossible with the only material coaching conversation happening just once per year. Plan regular one on ones and let them set the agenda of those meetings. You will be inspired by what happens from these encounters. 3. Leverage the potential of technology. In a perfect world, you would easily implement all new and “hot” software programs, with no hiccups in the process, to make your business run better. Reality teaches us that every conversion, upgrade, and implementation can be like a mystery novel. That being said, it is best to keep your fingertips on the cutting edge and be knowledgeable of what is changing in the industry. Difference makers crave growth and tie much of that desire to technological advancement. We encourage our clients to be futuristic with regard to technology and their businesses in general. 4. Rely on all generations in the workforce. The Baby Boomers have bailed out more than a few accounting firms in the past decade by diving back into public accounting or simplyworking longer than previously planned. They have provided sage experience, a time-tested work ethic, and critical diversity of thought to firms that are planning growth and succession. The lure of the four- to six-year experiencedCPA is real, and understandable, but balance in your workforce is evenmore critical andmeaningful. Nothing is as important as talent inanorganization, andkeeping your best will enhance the opportunity to accomplish all of your goals.We hope these suggestions will helpmake 2019 a fruitful year for you and your company. t