{"id":11120,"date":"2024-01-08T10:19:05","date_gmt":"2024-01-08T10:19:05","guid":{"rendered":"https:\/\/www.accountex.co.uk\/insight\/?p=11120"},"modified":"2024-01-09T10:38:32","modified_gmt":"2024-01-09T10:38:32","slug":"keep-your-employees-happy","status":"publish","type":"post","link":"https:\/\/www.accountex.co.uk\/insight\/2024\/01\/08\/keep-your-employees-happy\/","title":{"rendered":"Keep your employees happy"},"content":{"rendered":"<p>Owning an accounting firm isn\u2019t just about the bottom line \u2014 it\u2019s also about people. Keeping your employees happy is always a priority for firm owners, but it\u2019s even more critical now as the world faces an unprecedented accountant shortage. In fact,\u00a0<a href=\"https:\/\/www.intuitiveaccountant.com\/in-the-news\/people-and-business\/what-accounting-firms-are-struggling-with-today\/\">more than 90%<\/a>\u00a0of accounting and audit firms say hiring and retaining skilled personnel is at the top of their priorities list.<\/p>\n<h2>Your operations determine your retention rate<\/h2>\n<p>Rising client expectations and ever-changing regulations have created a\u00a0<a href=\"https:\/\/tax.thomsonreuters.com\/blog\/managing-strained-accounting-firm-capabilities\/\">severe strain<\/a>\u00a0on accounting firms. Combine that with the talent shortage and your employees face a bigger risk of burnout than ever before. Overworking your team is a surefire way to increase staff churn and, in turn, put an even bigger burden on the employees who remain. More than\u00a0<a href=\"https:\/\/www.caseware.com\/wp-content\/uploads\/2023\/06\/2023-State-of-Accounting-Firms-Trends-Report.pdf\">one-third<\/a>\u00a0of accounting firms say retaining talent is \u201cextremely challenging,\u201d which is why adding as much efficiency as possible is so crucial.<\/p>\n<h2>Put yourself in Gen Z\u2019s shoes<\/h2>\n<p>Even though more than 40% of small accounting firm partners are\u00a0<a href=\"https:\/\/www.thomsonreuters.com\/en-us\/posts\/tax-and-accounting\/rosenberg-survey-talent-technology-accounting-challenges\/\">over the age of 60<\/a>, that hasn\u2019t stopped them from envisioning what it takes to keep Gen Z employees happy. If you haven\u2019t put yourself in their shoes, it\u2019s time to start. After all, by 2025, Gen Z will account for\u00a0<a href=\"https:\/\/www.weforum.org\/agenda\/2022\/05\/gen-z-don-t-want-to-work-for-you-here-s-how-to-change-their-mind\/\">one-third of the workforce<\/a>, and they are the first generation to come into the workforce as digital natives \u2014 so creating a technology-driven culture is a must. In addition to the time and cost-savings we\u2019ve talked about, this type of culture will give you a competitive edge in hiring and retention.<\/p>\n<p>Fewer young professionals are entering the accounting world, but an overwhelming majority of the industry (<a href=\"https:\/\/quickbooks.intuit.com\/r\/small-business-data\/accountant-tech-survey-2023\/\">85% of accountants<\/a>) believe technology can help turn this around by making way for more engaging work. That\u2019s a critical insight because younger professionals simply won\u2019t do what their elders did. The days of spending 40 years or so at one firm, with 10 of those first years doing boring grunt work in hopes of moving up the ladder, are over. On the contrary, Gen Z is notorious for\u00a0<a href=\"https:\/\/www.forbes.com\/sites\/ashleystahl\/2022\/12\/13\/3-reasons-why-gen-z-is-job-hopping\/?sh=3993ea987170\">job hopping<\/a>.<\/p>\n<h2>It\u2019s not just Gen Z, though<\/h2>\n<p>More than half of accountants say they are not confident they\u2019ll remain at their current firm through the next year \u2014 and a majority of those are considering\u00a0<a href=\"https:\/\/www.intuitiveaccountant.com\/in-the-news\/people-and-business\/majority-of-accountants-may-leave-their-organization-in-the-\/#:~:text=Highlighting%20the%20impact%20of%20the,in%20the%20industry%20at%20all.\">leaving the industry altogether<\/a>. While you\u2019ve likely heard plenty about the Great Resignation and Quiet Quitting, there\u2019s another term to be aware of:\u00a0<a href=\"https:\/\/www.intuitiveaccountant.com\/in-the-news\/people-and-business\/the-great-recalibration\/\">the Great Recalibration<\/a>. Accountants of all ages are actively rethinking how much time and energy their job should require. Their measuring stick? A combination of work-life balance, burnout, and their ability to take on a stronger role at the company. As a result, they\u2019re recalibrating their way out of their current situation in droves.<\/p>\n<h2>The right technology can be a relationship-saver<\/h2>\n<p>We\u2019ve talked quite a bit about integrations between technology platforms, but what you also must consider is how your technology integrates with your employees. Solutions can\u2019t just focus on IT; they must also be readily adopted by your staff.<\/p>\n<p>When you\u2019re considering a tech solution, don\u2019t only look at features and functionality.<\/p>\n<p>You must also think about:<\/p>\n<p>How it will empower your employees to do their job better, faster, and with greater accuracy<\/p>\n<p>\u2022 How it will eliminate menial and redundant tasks<br \/>\n\u2022 How intuitive it is for them to use<br \/>\n\u2022 How it adds value to their daily work<\/p>\n<p>Check off everything on this list and you\u2019re on your way to creating a more fulfilling, less stressful work environment that people want to be a part of.<\/p>\n<p><strong>SuiteFiles will be exhibiting at Accountex London on 15-16 May 2024 at ExCel London.\u00a0<a href=\"https:\/\/www.accountex.co.uk\/post-reg\/\">Join the mailing list to be notified when free registration opens, here.<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Owning an accounting firm isn\u2019t just about the bottom line \u2014 it\u2019s also about people. Keeping your employees happy is always a priority for firm owners, but it\u2019s even more critical now as the world faces an unprecedented accountant shortage. In fact,\u00a0more than 90%\u00a0of accounting and audit firms say hiring and retaining skilled personnel is [&hellip;]<\/p>\n","protected":false},"author":8794,"featured_media":11121,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,441],"tags":[16,680,770,769,771,645],"class_list":{"0":"post-11120","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-people","8":"category-tech","9":"tag-accounting","10":"tag-employees","11":"tag-gen-z","12":"tag-industry","13":"tag-retention","14":"tag-workforce"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Keep your employees happy - Accounting Insight News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.accountex.co.uk\/insight\/2024\/01\/08\/keep-your-employees-happy\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Keep your employees happy - Accounting Insight News\" \/>\n<meta property=\"og:description\" content=\"Owning an accounting firm isn\u2019t just about the bottom line \u2014 it\u2019s also about people. Keeping your employees happy is always a priority for firm owners, but it\u2019s even more critical now as the world faces an unprecedented accountant shortage. In fact,\u00a0more than 90%\u00a0of accounting and audit firms say hiring and retaining skilled personnel is [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.accountex.co.uk\/insight\/2024\/01\/08\/keep-your-employees-happy\/\" \/>\n<meta property=\"og:site_name\" content=\"Accounting Insight News\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-08T10:19:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-09T10:38:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.accountex.co.uk\/insight\/wp-content\/uploads\/sites\/4\/2024\/01\/thisisengineering-raeng-TXxiFuQLBKQ-unsplash-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1708\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Accounting Insight News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Julian Gaylor, Suitefiles\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.accountex.co.uk\\\/insight\\\/2024\\\/01\\\/08\\\/keep-your-employees-happy\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.accountex.co.uk\\\/insight\\\/2024\\\/01\\\/08\\\/keep-your-employees-happy\\\/\"},\"author\":{\"name\":\"Accounting Insight News\",\"@id\":\"https:\\\/\\\/www.accountex.co.uk\\\/insight\\\/#\\\/schema\\\/person\\\/ed71155e3655d693542b8dc40fc3961a\"},\"headline\":\"Keep your employees happy\",\"datePublished\":\"2024-01-08T10:19:05+00:00\",\"dateModified\":\"2024-01-09T10:38:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.accountex.co.uk\\\/insight\\\/2024\\\/01\\\/08\\\/keep-your-employees-happy\\\/\"},\"wordCount\":627,\"image\":{\"@id\":\"https:\\\/\\\/www.accountex.co.uk\\\/insight\\\/2024\\\/01\\\/08\\\/keep-your-employees-happy\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.accountex.co.uk\\\/insight\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2024\\\/01\\\/thisisengineering-raeng-TXxiFuQLBKQ-unsplash-scaled.jpg\",\"keywords\":[\"Accounting\",\"employees\",\"gen Z\",\"industry\",\"retention\",\"workforce\"],\"articleSection\":[\"People\",\"Tech\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.accountex.co.uk\\\/insight\\\/2024\\\/01\\\/08\\\/keep-your-employees-happy\\\/\",\"url\":\"https:\\\/\\\/www.accountex.co.uk\\\/insight\\\/2024\\\/01\\\/08\\\/keep-your-employees-happy\\\/\",\"name\":\"Keep your employees happy - 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