compensation

how do you value your most important asset?

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yes, your employees.

by steven e. sacks
the new fundamentals

skills, abilities and experience are the elements recruiters use to assess candidates who come before them. but what is interesting is despite a skill set playing a dominant role in the value that an employee brings to the organization, it may not be recognized as such. this is not a new concept. i came across research conducted in 1918 by harvard university, the carnegie foundation and stanford research center.

more steve sacks:how to build a winning proposal|six ways to fix your firm agreement|the great resignation or a reshuffling?|listen to learn|build the framework to a solution with five answers|try for success, not a win
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

the study discovered that almost 95% of job success comes from having well-developed soft skills (better referred to aslifeskills ) and people skills, while only 5% of job success comes from technical skills and knowledge — hard skills.

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top trends ’23: look who’s making money now

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partners’ percentages surge substantially.

by 卡塔尔世界杯常规比赛时间 research
the rosenberg map study

financially, it’s been a good year for accountants – especially at the partner level.

more:outlook 2023: compensation gets creative|what new leaders want in ownership|getting partners to accept a new pricing philosophy|survey results: partners rejoice on surging fee growth|headcounts grow 5%; pay rates surge at 7% pace|fourteen rules for lateral partner hires

goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

revenues are up. the income per partner (ipp) is up. profitability is up. firms that qualify as “elite” are more elite than ever. and, yes, size matters.

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comp: what new partners don’t know

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businessman sitting on scales with stack of coins in other traybest practices: top firms use these seven systems for allocating income.

by marc rosenberg
the rosenberg practice management library

it would take a book much longer than this post to properly explain the finer points of partner compensation, especially how each of the major compensation systems works.

(oh, did i forget? we wrote such a book,cpa firm partner compensation: the art and science.)

more:making partner: 15 steps to the buy-in|making partner: do the math|a crash course in the business of public accounting|making partner: what managers need to know|nine reasons people are promoted to partner
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as is the case with all of my lists, no one firm incorporatesallof these practices in its partner compensation policy.

but i have observedallof the practices below in one or more of the best firms i’ve worked with over 20 years.
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covid impact: 17,500 tax & accounting jobs lost

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tax and accounting headcount, year-to_year percentage change. july 2020
in the red:tax and accounting headcounts, year-to-year percentage change.

cutbacks fall hardest at payroll agencies.

by beth bellor

overall, the total number of employees in the tax and accounting sector is dropping again, but not nearly as dramatically as at payroll agencies.

more jobs & hiring trends:firms recall half of furloughed staffers|covid kills 67,600 jobs in tax and accounting|pre-covid-19, accounting profession hits new highs|headcounts dip by 3,500 in tax & accounting|tax & accounting headcounts hit record high|hiring growth rate shows signs of leveling off|what staffing shortage?|payroll agencies lead jobs growth in the tax & accounting industry|hiring trends flash warning signs of slowdown in tax & accounting|hiring surge powered by growth in payroll agencies|

goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

the payroll segment lost almost 15 percent of its jobs in the latest data collected by 卡塔尔世界杯常规比赛时间 research. in some consolation, though, those who are left are seeing record new earnings.

in this report, 卡塔尔世界杯常规比赛时间 highlights:

  • current and long-term hiring trends in each of the bookkeeping, payroll, tax and cpa segments of the industry (all data seasonally adjusted)
  • average hourly wages for key segments
  • typical hours worked per week
  • trends concerning women in the accounting workforce

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firms recall half of furloughed staffers

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total tax and accounting employees, in thousands, over the last 18 months. (卡塔尔世界杯常规比赛时间 research)

just in time to finish tax season.

by beth bellor

got whiplash? job sectors that saw figures plummet in last month’s report are seeing them climbing back, albeit not as quickly.

more:the mystery of 10 million missing tax returns|pro tax prep stalls to a crawl amid covid-extended season|planning for the coronavirus recession|the tax season 2020 dumpster fire| |covid kills 67,600 jobs in tax and accounting|pre-covid-19, accounting profession hits new highs

goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

the tax and accounting industry has quickly added back about half of the jobs lost in the covid-19 shutdown – just in time to finish the hyper-extended tax season, according to the latest 卡塔尔世界杯常规比赛时间 jobs report. but what happens next is anybody’s guess.

in this report, 卡塔尔世界杯常规比赛时间 analyzes:

  • current and long-term hiring trends in each of the bookkeeping, payroll, tax and cpa segments of the industry (all data seasonally adjusted)
  • average hourly wages for key segments
  • typical hours worked per week
  • trends concerning women in the accounting workforce

read more →

covid kills 67,600 jobs in tax and accounting

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two years of steady gains wiped out in one month

profession loses four years of job growth in the first month of the coronavirus recession, reversing years of steady gains.

by beth bellor

crushed by the covid-19 pandemic, the tax and accounting profession has fallen below 1 million employees for the first time in two years – way below, and that may be just the tip of the iceberg, according to 卡塔尔世界杯常规比赛时间 research.

more on jobs and hiring trends:planning for the coronavirus recession|pre-covid-19, accounting profession hits new highs|the fight for new tax clients|tax & accounting headcounts hit record high|hiring growth rate shows signs of leveling off|what staffing shortage?|payroll agencies lead jobs growth in the tax & accounting industry|
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

in this report, 卡塔尔世界杯常规比赛时间 highlights:

  • current and long-term hiring trends in each of the bookkeeping, payroll, tax and cpa segments of the industry (all data seasonally adjusted)
  • average hourly wages for key segments
  • typical hours worked per week
  • trends concerning women in the accounting workforce

the data comes with a big asterisk.

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pre-covid-19, accounting profession hits new highs

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we’ll be comparing apples to zebras for a while.

by beth bellor

what a difference a month makes. the accounting profession set several new records in the latest employment figures … but.

for our analysison the covid-19 impact on the profession, seeplanning for the coronavirus recession

that “but,” of course, is the global pandemic. the numbers almost seemed dated as soon as they were released, because we know many of those gains quickly melted away.
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headcounts dip by 3,500 in tax & accounting

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hourly earnings hit new high.

by beth bellor

cpa firms and payroll agencies are trimming their headcounts going into busy season 2020, according to new data obtained by 卡塔尔世界杯常规比赛时间 research

in this report, 卡塔尔世界杯常规比赛时间 highlights:

  • current hiring trends in each of the bookkeeping, payroll, tax and cpa segments of the industry (all data seasonally adjusted)
  • average hourly wages for key segments
  • typical hours worked per week
  • trends concerning women in the accounting workforce

read more →