When is your practice not about its people? We ask the (rhetorical) question following a
recent deep-dive into the near-term plans and ambitions of accountancy practice leaders we know well.
Our September Managing Partner Forum, which we host monthly online, is a forum for
senior practice leaders to come together and discuss current challenges within their
businesses.
This time around we asked them about their post-summer plans – what ideas have been
percolating in recent weeks and months, and which ones have become a reality and focus
for the autumn and beyond.
The responses were varied. One participant had spent summertime integrating another practice into the fold, and now wanted to move forward and start benefiting from their synergies and efficiencies to drive growth. Another was looking at how AI could impact upon improving service delivery; in particular, to grow the client base.
Planning and people
Inevitably, there was a focus on recruitment and retention. One wanted to shed “the wrong
client and staff” and rebuild; another saw the retirement of partners as a catalyst to
restructure their teams. One practitioner said that their marketing efforts needed to more closely align with the firms expertise and re-target the markets it excels in.
We then turned to employee happiness. Most attendees said their people are “generally happy”. However, many raised issues, which included some “burying their head in the sand” about the future of their role, while another said they had “supposedly happy staff”, who then left the practice.
Ultimately, driving change in a practice cannot be separated from the impact this will have on team members. Buy-in is essential. Keeping up staff morale is also complicated in a time when there is much concern about the impact of technology upon business models and, therefore, job roles and security.
But, with firms operating in an environment where processes, job roles and resourcing are in
a state of flux, how will leaders drive change if their people aren’t invested in the firm’s direction?
Our next forum takes place on 15 October at 13.00, and we’re joined by Austin Rose’s Scott Lavery, who will take us through the current condition of accountancy’s recruitment market.
We’d love for you to join us – to find out more, please email Julia Whistler.