IN LAST 5 DAYS OF THE DECADE, MAKE A BIG POSITIVE CHANGE FOR YOUR ACCOUNTING FIRM FOR 2020
You are just left with 5 days of this decade. Do you plan to make the most of it? What’s that one decision that can make a big positive change for your accounting firm in the next decade?
It could be any of the following changes:
Investing more time in business development to gain more clients
Building a great team to service more incoming clients
Finding efficiency to increase profitability
Efficiency, team and time are the 3 most critical factors that determine a firm’s growth trajectory. And, all these 3 are interlinked. The most essential ingredient of this success mantra is staff. When you have experienced and reliable staff members in your team, they pave the way for improved efficiency which in return, reduces your workload and allows you to focus more on business development and client relations. Now let’s learn how CPAs, accounting and tax firms can achieve all three using the most significant asset that a firm could have, it’s “Human Capital”.
In this decade, staffing remained a top challenge for accounting firms which was reaffirmed every year by AICPA’s PCPS surveys. The current job seeker’s market caused CPAs and accounting firms to think twice before hiring staff for accounting positions. This happened due to the challenges they faced on various fronts like recruitment, retention and replacement.
Recruitment of accounting staff for CPAs, small, mid-size and large accounting firms is a major challenge as it consumes substantial amount of time in sorting through hundreds of resumes. Then, you have to spend hours in taking the interviews and tests of the candidates. After that, wait for them to join and spend even more time in training and onboarding the new recruit.
As a result, retention of the hired staff becomes even more important. Yet, as people keep changing jobs frequently, industry average is a mere 2.4 years. Sometimes after a couple of months, you find out that the relationship isn’t working out. Then, you don’t have any other option but to go through the same cycle of recruitment all over again.
To sum it up, hiring in-house/local staff in the accounting industry is a big challenge. It’s even more gruesome for small, mid-size and regional accounting firms. But, hiring offshore staff is as easy as it gets. How?
Recruiting offshore staff with Entigrity is a completely transparent and simple process. Instead of shortlisting from hundreds of resumes, we send you multiple pre-screened resumes as per your specific requirements. You interview and test the candidates and hire the one that fits the bill.
Retaining is even much easier with Entigrity offshore staffing. Unlike local staffing, the average tenure of Entigrity’s offshore staff is 5.4 years. Moreover, every staff member signs a 3 year contract with us. If you feel that the staff you hired, isn’t the right fit, we provide no-cost replacement.
In totality, you’re better off with Entigrity offshore staff as compared to standing alone in local staffing.
Before this decade draws to an end, explore how 500+ CPAs, accounting and tax firms have been working with Entigrity’s qualified, experienced and reliable offshore staff. You can hire staff full time/part-time, long-term/temporary/seasonal starting at $9/hour.
Going ahead with offshore staff helps you in achieving all the 3 aforementioned changes and can be a stepping stone in finding a high growth trajectory for your firm.
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Entigrity™ is the trusted offshore staffing partner of 500+ accountants, CPAs and tax firms across the US and Canada. Our flexible and transparent hiring model gives helps firms of all sizes to hire staff for accounting, bookkeeping, tax preparation or any other task for 75% less cost. As a firm 'run by accountants, for the accountants', Entigrity captures the hiring needs of accounting firms most precisely, providing staff that works directly under your control and management, still you are left with least to worry about compliance, payroll taxes, overheads or any other benefits.