In this episode, Rob Brown invites Gary Shamis to discuss the challenges and strategies for accounting firms to maintain independence in a landscape dominated by mergers, acquisitions and private equity. Learn the importance of partner alignment, succession planning, leadership and a recalibrated partner buyout process as essential elements for firms to thrive independently. Plus winning strategies such as building advisory practices, fostering a strong culture and executing effective change management to navigate the evolving accounting industry.

Takeaways

• Why it's impossible for an accounting firm to stay independent.
• Partner alignment is crucial for maintaining independence.
• Opportunistic greed can tempt firms to sell out.
• Firms need a succession plan to ensure continuity.
• Leadership development is essential for future success.
• Culture must be intentionally cultivated in firms.
• Firms should focus on creating value in client relationships.
• Growth is necessary to attract top talent.
• Change management is vital in a rapidly evolving industry.
• Firms need to think independently about their future.

You can check out the video version of this with visuals and graphics here on YouTube:

https://youtu.be/bD94-lOpiXQ

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The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

Thanks to our sponsors:

ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

https://www.linkedin.com/in/therobbrown

You can also check out all shows on the Accounting Influencers YouTube Channel:

https://bit.ly/AI-youtube

Rob Brown interviews John Wichmann and John Fenton on the evolving landscape of hybrid work in the accounting industry. They explore the importance of intentionality, accountability, and the overall employee experience in creating a successful hybrid work environment. The discussion highlights the challenges firms face in adapting to new work models, the necessity of structured opportunities for collaboration, and the need for flexibility in workplace culture. They also touch on the lessons that can be learned from other industries and make predictions about the future of hybrid work in accounting.

Key Takeaways

• Hybrid work doesn't have to be a broken model.
• Flexibility is crucial for attracting and retaining talent.
• The apprenticeship model is vital for professional growth.
• Communication challenges arise in hybrid work settings.
• Intentionality in hybrid work can enhance productivity.
• Employee engagement is key to a successful hybrid model.
• Diversity in the workplace benefits from hybrid work options.
• Economic factors influence the viability of hybrid work.
• Understanding employee preferences is essential for management.
• The future of work requires a balance between remote and in-office presence. It's not about the amount of time spent in the office.
• The office experience must justify the commute.
• Intentionality is key to successful hybrid work.
• Accountability fosters trust within teams.
• Trust issues can arise during downturns.
• Flexibility must be part of the firm's culture.
• Firms need to differentiate themselves in the talent market.
• Employee engagement is critical for retention.
• Learning from other industries can provide valuable insights.
• Intentionality will define the future of hybrid work.

Sound Bites

• "We want people to be at the water cooler."
• "Hybrid work adds a huge amount of value."
• "It's not about the amount of time."
• "How often has it been worth the commute?"
• "You want to have opportunities structured."
• "Accountability is critical."
• "Trust issues bubble up in down times."
• "You need to set your firm apart."
• "Intentionality is the future."

You can watch this whole episode on youtube with graphics and images here:

John Fenton is the founder of John J. Fenton Executive Coaching, where he empowers CPA firm leaders to achieve greater clarity and freedom. Previously a managing partner with BDO USA, John brings a wealth of experience to his coaching practice. He is the author of the best-selling book 5 Minute Mastery™ and an award-winning speaker on executive leadership excellence. A Certified Success Principles Trainer, John is also a current Vistage speaker and formerly served as a Vistage Coach. A double graduate of the University of Miami, John earned both his MBA and BBA degrees while showcasing his leadership skills as a member of the Miami Hurricanes Football team. Personally, he holds a black belt in the martial art of tai chi and has a profound perspective on success, shaped by his experience surviving a heart attack. https://www.linkedin.com/in/johnjfentonceocoach

John Wichmann is the Founder and CEO of Gather Sciences and the creator of Balanced Hybrid®, a platform that helps organizations develop sustainable hybrid work models. With expertise in data analytics, consulting, and executive leadership, John focuses on solutions that enhance productivity and employee development in the accounting profession.

Previously, John co-founded Maptician, a workplace management software company featured in Inc. Magazine for its innovative hybrid work solutions during the COVID-19 pandemic. A frequent speaker

In today's show, Rob Brown interviews Steve Cox to explore the current state of the accounting profession, highlighting both the challenges and opportunities it faces. Key themes include the impact of technology, staffing shortages, and changing client expectations. The discussion emphasizes the need for accountants to adapt to these changes, particularly in terms of technology adoption and mindset shifts. The speakers provide insights into how firms can navigate these challenges and leverage technology for growth and efficiency.

Key takeaways

• The accounting profession is at a crossroads with both opportunities and challenges.
• Client expectations have significantly increased post-COVID, demanding faster responses and more technology support.
• 42% of accounting firms are turning away work due to staffing shortages.
• There is a growing demand for accountants as trusted business advisors.
• Technology is reshaping compliance and service delivery in accounting.
• A mindset shift is necessary for accountants to embrace technology effectively.
• Firms need to balance technology adoption with the right mindset for success.
• The future of accounting will heavily rely on digital transformation and technology integration.
• Accountants must focus on building a sustainable talent pipeline to address shortages.
• Strategic use of technology can drive growth, productivity, and enhance exit strategies for firms.

Watch the show with graphics and slides on youtube here: https://youtu.be/B33jPdNqOEY

◣━━━━━━━━━━━━━━━━━━━━◢

The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

Thanks to our sponsors:

ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

https://www.linkedin.com/in/therobbrown

You can also check out all shows on the Accounting Influencers YouTube Channel:

https://bit.ly/AI-youtube