Challenge: attracting and retaining talent
It was apparent from interviews conducted for the report that doing business remotely during the pandemic worked well. In fact, such was the demand for accountants, some firms struggled to get through all the work they had.
Attracting talent – as well as retaining talent – is key to continued growth. This means offering not just a competitive salary but an attractive culture in which to work.
The solutions: Focus on the positive employee experience
• Training opportunities, well-being programmes, hybrid working and incentives can put firms in a better position to attract and retain talented people.
• Ensure people feel happy, safe and encouraged; a stable, motivated workforce is more productive.
• As the great return to the workplace continues, think about how and where staff want to work, while still offering exceptional service to their clients, and try to remain flexible.
• Encourage people to enjoy shared experiences, wherever they are working, so they feel they’re part of the business.
The solutions: Focus on the positive employee experience
• Training opportunities, well-being programmes, hybrid working and incentives can put firms in a better position to attract and retain talented people.
• Ensure people feel happy, safe and encouraged; a stable, motivated workforce is more productive.
• As the great return to the workplace continues, think about how and where staff want to work, while still offering exceptional service to their clients, and try to remain flexible.
• Encourage people to enjoy shared experiences, wherever they are working, so they feel they’re part of the business.
The challenge: boosting productivity
Pre-pandemic, most firms were reluctant to allow staff to work remotely because they felt it would lead to a reduction in productivity. Yet our report found productivity has increased since 2019, while noting how important it is that fee earners have the right amount of administrative support for this to continue.
The solutions: improved systems and processes
• Performance is much more likely to improve with investments in well-being and training, which make fee earners more productive.
• Look at retaining administrative staff to avoid a drop in productivity from fee earners.
• Manage the time – our report found one partner at a regional firm no longer has to spend 50-plus hours a week travelling to meet clients, which wouldn’t have been recorded as chargeable time. This has made more time available that can be charged.
• Keep Zooming – another partner interviewed for our report calculated that he could now have 10 client meetings over Zoom in a day, which would never have been possible when the emphasis was on face-to-face meetings.
Download the full report
Accountancy Report 2022 (PDF, 8.91 MB)
