In today's highly competitive labor market, accounting firms face strong challenges in attracting and retaining top talent. As they search for new strategies to empower their leaders, a powerful tool emerges Emotional Intelligence (EI).

According to a recent survey by EY titled "Empathy in Business," most U.S. workers recognize the significant impact of empathetic leadership. An impressive 90 percent believe that empathetic leaders contribute to higher job satisfaction, while 79 percent agree that it reduces employee turnover.

Accounting firms realize the importance of understanding employees' Emotional Intelligence levels to drive predictable outcomes and provide effective training. It's all about helping managers and employees regulate their emotions to achieve organizational objectives efficiently and effectively.

Upskilling is a hot topic in human resources these days. It's gained attention because companies have realized the value of internal training after dealing with the Covid-19 pandemic. Plus, there are upcoming challenges like retaining talented employees, building a good employer brand, and managing teams with different generations.

When it comes to addressing these issues, internal training offers various tools. One of the important ones is upskilling. You might have heard about it, but it's not always clear what it means and its implications. In this episode, we'll break it down for you and explain why it's a viable option for training within your company. Implementing an upskilling strategy benefits both employees and the company. It's a win-win situation!

Cyber breaches targeting accounting firms have been on the rise. According to a 2022 report by the Association of Certified Fraud Examiners (ACFE), accounting firms experienced a 30% increase in cyberattacks compared to the previous year. As accounting firms handle sensitive financial data, it is crucial to prioritize cybersecurity and protect your organization from potential threats.

One of the most common vulnerabilities lies in poor password habits. By now, you would think people are well aware of the importance of password security but according to a 2019 Google poll, over 52% of users admit to reusing passwords and approximately 13% admit to using just one across all accounts.

In this episode, we will discuss common password mistakes, the root causes of data breaches, how to create a password policy, and other ways to increase security. 

Dress codes have long been a staple of the accounting profession, where formal attire has been seen as a sign of professionalism and credibility. 

However, times are changing, and more and more offices are embracing a more casual approach to workwear. In fact, according to a recent survey by Robert Half Finance & Accounting, 61 percent of CFOs reported their employees adhering to a somewhat casual dress code, which may include khakis, polo shirts, or sweaters. And for 13 percent of those surveyed jeans and T-shirts have become the norm.

So what's behind this shift in workplace attire? And is there really any point to dress codes at work?

As accountants, we know how important it is to be accurate and timely in our work. But we also know how challenging it can be to manage multiple tasks, clients, and deadlines in a fast-paced environment. That’s why it’s essential to have efficient workflows and processes that help us get things done smoothly and effectively.

But what exactly are workflows and processes? And how can we create them for our accounting firm? That’s what we’re going to explore in this episode.

Are you prepared to adapt and thrive in the face of uncertainty? The accounting industry is undergoing a massive transformation, driven by technological advancements, shifting client expectations, and increased competition. Accounting firms face new challenges and opportunities in this ever-evolving landscape. 

Let’s explore four game-changing ideas that can help accounting firms not only adapt but thrive in the coming years. These ideas may not be the most popular for our industry in particular, but they have the potential to revolutionize the way accounting firms operate and succeed. Embracing some of these strategies might help accounting firms stay ahead of the curve, stand out in a crowded market, and deliver exceptional value to their clients.

When we talk about offshoring we of course mean hiring team members from other countries to perform tasks or functions that would otherwise be done locally. Offshoring has become a popular strategy in accounting firms looking to cut costs and increase efficiency. But for our industry, offshoring is much more than that. It can be the game changer to access specialized skills and resources that may not be available locally.

However, offshoring also comes with some challenges that must be addressed to ensure success. So let’s discuss the best practices for hiring and managing offshore talent while we cover the dos and don'ts of offshoring, from selecting the right tasks and team members to providing incentives and support.

Accounting talent offshoring can be a game-changer for your business, but it requires careful planning and execution to be successful. Remember that building a successful offshore team takes time, effort, and ongoing investment, but the rewards can be significant. You can access a larger pool of talent, reduce operational expenses, and increase your competitive edge in the global market.

Are passwords inadvertently shared? Probably. Does that make it right or smart? No.

You might think that sharing passwords is not a big deal, especially if you trust your coworkers or your boss. But the truth is, sharing passwords can expose you and your organization to serious risks, such as data breaches, identity theft, fraud, and legal liability.

If you're an accountant, you know that the profession is constantly evolving, with new technologies, regulations, and global economic shifts shaping the way you work. As a result, the need for continuing professional education, or CPE, has never been more critical for our careers.

But what is CPE exactly? How can it benefit you and your accounting firm? And how can you find the best CPE opportunities for your needs?