The accounting industry continues to face a competitive hiring market and a perception of less than desirable culture when it comes to work life balance. Fewer students graduate every year with accounting degrees and even fewer are taking the CPA exam. So how are firms going to fair in the future with constant increased competition for staff? When pay and benefits isn’t enough to attract talent, managers have to turn to company culture to make the difference for their firm’s future.
But how do you maintain the tight knit feel of a small firm that genuinely values each person’s contributions as you continue to scale and grow?
Create Clear Vision and Values
Establish a compelling vision that goes beyond profits. Focus on how your firm makes a difference for clients and the community. When everyone understands and believes in the mission, decision-making becomes faster and more aligned at all levels.
Empower Through Ownership
Consider implementing broad-based equity programs or profit-sharing that gives all team members a stake in the firm's success. When bonuses are tied to overall firm performance rather than individual metrics, it encourages collaboration over internal competition. Even junior staff should have paths to partnership or ownership.
Maintain Speed and Flexibility
Size shouldn't dictate speed. Make decisions quickly with available information rather than seeking perfect data. Be willing to pivot when new information emerges. Push decision-making authority down to lower levels when possible, empowering teams to act independently within established guidelines.
Foster Personal Connections
As firms grow, maintaining personal connections becomes challenging but crucial. Leaders should keep their calendars flexible enough for impromptu conversations and regular one-on-ones with staff at all levels. Host social events that bring together different departments and hierarchy levels.
Embrace Innovation and Feedback
Create open forums where anyone can propose improvements to processes or services. Make product/service review meetings accessible to all staff members and encourage real-time feedback. Use technology to maintain open communication channels between leadership and staff.
Develop Team Understanding
Implement personality assessments to help team members understand each other's work styles. Provide training on giving effective feedback and managing healthy conflict. Focus on building a diverse, multigenerational team that brings different perspectives to problem-solving.
Results of Strong Culture
Companies that maintain startup agility while scaling typically see sustained growth, higher employee satisfaction, and better client retention. They're also better positioned to adapt to industry changes and market disruptions.
For accounting firms specifically, this approach can help address the challenging hiring market by creating an environment where professionals feel valued, heard, and invested in the firm's success. It transforms the traditional hierarchical structure into a more collaborative, engaging workplace that attracts and retains top talent.
Remember: Culture isn't about perks or office amenities—it's about creating an environment where people feel ownership over their work and connection to their colleagues and the firm's mission.
Christine Gervais is a licensed CPA, using her skills to help businesses grow and achieve their fullest potential. Christine has a Master’s degree in accounting from Southern New Hampshire University in addition to holding her CPA license for over a decade. Notably, Christine is a nationally recognized speaker providing education to other CPAs on how to best serve clients as well as instruction on a wide variety of topics for business owners on how to maximize success. Christine prides herself on the value she can bring to clients with her extensive tax knowledge and provides strategic, forward-thinking financial strategies to help clients grow. When not behind her desk, you can find Christine spending quality time with her daughter and stepson or tending to the family’s excessively loved farm animals.
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