Ensuring the Retention of a Quality CPA for your Business

Finding and securing the right accountant to meet your business needs is no easy task. Last week, we took a look at guidelines to assist you when choosing the best Certified Public Accountant (CPA) for your company. Visit here to learn more. Once you’ve secured a good accountant, you won’t want to lose them and will want to be sure you know what will help keep them around for the long haul. It is important to do what is necessary to make this happen.

At the same time, you also want to ensure that your hired CPAs are performing their duties well. In a sense, there is a balance of equipping employees with what they need to be successful but also monitoring to make sure they are fulfilling their end of the obligation to do honest and professional work. This balance can happen by knowing what your employees need and responding to those needs while also knowing what to expect out of your CPAs and holding them accountable to these expectations. Beck and Company’s Certified Public Accountants and Business Advisors have vast experience in accounting practices along with a deep understanding of business processes to assist you in knowing accountant needs and expectations. We also offer quality accounting services to meet your business needs.

Tips for Fostering Retention

Some recent surveys within the field have concluded that employers find that employees with the highest potential and those who were the top performers were also the ones with the highest turnover. Employers are losing their best talent, and the employees state that their reasons for leaving are limited opportunities for career advancement and a lack of confidence in company leadership. There is certainly a disconnect between employers and employees that is leading to talent mobility instead of leading to employers seeking to understand and respond to what employees value. If you want to retain your CPA employees, you’ll need to do just that.

As an employer of CPAs, what can you do to improve retention, engagement, and employee career development?

  • Create a consumer-like experience for employees. Many employees feel they are not understood to the same degree they are expected to understand customers. Be sure to get to know what your employees need, and respond to those needs.
  • Equip employees with leadership development and career advancement opportunities. Don’t lose employees to companies that are meeting their needs better. Give them the opportunities they need, and be open to discussing opportunities for leadership and advancement within your own organization.

Ensuring Employees are Following Expected Professional and Ethical Practices

As an employer, you may not be an expert in the field of accounting. At the same time, your accountants are an important part of your business and have the power to make or break it in many ways. Not only are employees held to a certain standard of general conduct that must be followed, but accountants are also held to a certain standard of ethical and professional conduct specifically tailored to the work of accountants. As an employer, it is important for you to know about this code of conduct to be sure it is being followed and that your accountant is following practices that will help and not hinder your business. The American Institute of Certified Public Accountants (AICPA) has outlined these expectations through its Code of Professional Conduct. It includes such things as expected responsibilities to clients and colleagues, other responsibilities and public interest, general accounting principles, and a look at independence, integrity, and objectivity.

For more information about the Code of Professional Conduct and general assistance as an employer with helping accounting employees to be successful and to stick around, please contact us here at Beck and Company CPAs. Our vast experience can be an asset to ensuring success for all—both employees and employers.

 

Finding a Good Fit in an Accountant for your Business

Entrusting your company’s most valuable asset—your finances – to someone else is certainly not something to be taken lightly. High expectations are good! Whether you are a new business just starting out and looking for help with the financial side of things or you’ve finally come to the conclusion that you can’t do it all and need an expert to oversee the finances, you’ll want to make an informed decision about which Certified Public Accountant (CPA) is best suited for your company and what they have to offer. While we cannot choose an accountant for you, Beck and Company’s Certified Public Accountants and Business Advisors can give you additional insight and guidance when it comes to the search for someone who is best for your business. Here are our general recommendations:

  • Characteristics to Look for in a Potential Accountant

What, exactly, characterizes a good accountant? When looking for an accountant to manage the financial side of your organization, you’ll want to consider some important general CPA traits. These include finding someone with a basic understanding of your specific industry and a desire to always learn more about it. They must have a thorough understanding of the company’s big picture and a commitment to the overall business. You’ll need someone who is attentive to details, communicates well, is adept at using a computer, understands proper job costing, and is a person of follow through. To dive into these traits further, visit here.

In addition to these general characteristics, you’ll want to look for someone who has strong leadership or leadership potential. When someone is making decisions that impact the entire organization and relate to financial assets, they’ll need to be someone who considers the interest of all and is a team player. Finally, determine the specialized needs you have within the position and the reasons you will be hiring someone (tax prep, financial system overhaul, expert to answer questions and give guidance, etc.). This will make securing the right person easier and will make the interview process clear for both you as employers and for the potential employees themselves.

  • Securing the Right Person

Once you have a good idea of what you are looking for in the person you want to hire for the position, you will need to go through the process of securing just that. If you are unsure where to begin, start by asking around within your network to find out who others use for their accounting service needs. It is recommended that any accountants you consider have at least 60% of their businesses coming from businesses similar to yours in order to know the laws and systems well. As another starting point, Beck and Company CPAs also offer many client accounting services that you can explore.

  • Interview Tips

Next, you will need to schedule interviews and be prepared with questions that pertain directly to the specifics you are looking for. Be sure to include conversation about rates, their preferred accounting software program, and their hours of operation to confirm if the person is a good fit and if there is mutual compatibility. Also, find out if they are part of a corporation or work individually. Working with corporations could mean you’ll be getting answers from whoever answers the phone instead of always having direct access to one person with whom you’ve built a relationship and trust. Your preference will depend on the level of general help versus individualized attention you need.

Choosing the best accountant for your business has the power to transform your accounting processes and give you the guidance you need to remain successful. Beck and Company CPAs can offer more individualized guidance into the important process of deciding on the accountant that is suited to meet your business’ needs. Please contact us for more information.