Pandemic Ushers in “Great Resignation,” Here’s How Not to Lose Talent to Burnout
CPAs are at high risk for burnout. Now’s the time to leverage automation and outsourcing to help your team achieve growth and work-life balance, while still focusing on profitability.
The repercussions from COVID-19 continue to mount, with the latest trend being what many are calling the Great Resignation.
In a report for Voices of America, Deana Mitchell reported nearly 4 million people quit their jobs in April, which, according to the U.S. Department of Labor, is the highest one-month quit rate in the past 20 years. Causes include workers wanting to continue working from home and re-evaluating life priorities, as well as the most reported reason: burnout.
According to LovetoKnow.com, HR expert Mary Gormandy said public accounting is one of the top 10 professions most at risk for burnout. She wrote, “Professionals in the field juggle heavy client loads and are often required to deal with frequent business travel along with crazy tax season schedules and quarterly filing deadlines throughout the year, factors that lead to prolonged periods of stress and exhaustion.”
One way to stave off employee burnout and increase work-life balance is for teams to automate and outsource common tasks and procedures. To aid firms in understanding this better-balance approach, an accounting expert recognized by CPA Practice Advisor, Accounting Today and CPA Technology Advisor will deliver professional advice on utilizing technology to improve firm profitability and help teams achieve work-life balance.
Donny Shimamoto, CPA, CITP, CGMA, founder and managing director of IntrapriseTechKnowlogies LLC, will present Leveraging Automation & Outsourcing to Improve Firm Profitability ($25, 1 CPE) to help firms and accounting professionals identify automation technologies that help firms increase their efficiency and identify what can be outsourced as well as what shouldn’t be outsourced, while still increasing profitability. The results of which include accounting teams being less likely to experience burnout from routine tasks when they can focus on personal and professional growth.
Additionally, Bill Penczak, CPA, founder and chief insight officer with MICA Ventures, will present Profitability through Accountability: Plugging the Leaky Bucket ($50, 2 CPE) to help firms identify common issues and benchmark data related to firm profitability, as well as show how firms can use evolving strategies, such as outsourcing, resource sharing and value billing, to improve margin contribution.
Both programs are sponsored by Accsurant, which provides scalable workforce solutions for accounting firms, and will offer attendees a chance to learn how some firms are bucking the busy-season trends to achieve growth and maximize profits.
The Center for Accounting Transformation provides professionals with a framework for utilizing innovations that are ready for adoption, the training and resources necessary to apply the innovations, and an opportunity to engage the talent and community needed to further the pursuit of innovative accounting practices that drive responsible and mindful business performance.