Practice Management


No Surprises in 1999 MAP Poll

Finding, hiring and retaining quality staff topped the list of practice management concerns in a recent poll conducted by the AICPA management of an accounting practice (MAP) committee. It was the third year in a row that firm managers ranked staffing as their number one problem.

      1999 Top Five MAP Concerns

  1. Finding, hiring and retaining quality staff

  2. Marketing/practice growth

  3. Determining and meeting client expectations/providing quality services

  4. Capitalizing on consulting opportunities

  5. Keeping up with technology

Gary S. Shamis, MAP committee chairman and managing partner of Saltz, Shamis & Goldfarb Inc. in Solon, Ohio, said he was not surprised by the poll results. Staffing issues reflect the increasing client focus and value-added business strategies of CPA firms, he said.

Firms have to possess the top people, the latest resources and the marketing expertise to meet the challenges of the marketplace, he added.

We have competition within the profession, and we have competition with other financial service providers, said Leslie A. Murphy, partner in charge of litigation support and business valuation services at Plante & Moran, LLP, in Detroit, Michigan, and a member of the MAP committee.

The combination of competition and accelerated hiring needs creates pressure on firms that will only become more acute in the future, she said.

SPONSORED QUIZ

How well do you know small business?

There are over 30 million small businesses in the U.S., and many of them are optimistic in their outlook. Are you familiar with the obstacles and opportunities they are facing? Test your small business acumen with this quiz sponsored by Chase Ink®.

SPONSORED REPORT

In focus: Payroll

Providing payroll services that comply with ever-changing regulations and meet evolving employee and employer demands is no easy task. Paychex's Tom Hammond discusses common payroll considerations for CPA firms.