Rarely does a day go by in my accounting life when succession planning does not come up in conversation or in what I read. According to a recent PwC family business survey, over 25% of businesses expect to change hands in the next five years. Nearly half do not have a succession plan. If these statistics are representative of your client base, that smell coming from the firm’s oven isn’t a succulent pot roast, it’s the sweet smell of opportunity.
The CPA Consultants’ Alliance has issued a new white paper titled “CPA Firm Leadership: Communication Drives New Possibilities,” which covers this type of critical information and data that every CPA firm partner can use. Explore the findings of leadership perceptions within the public accounting profession, frequent reasons for not continuing in public accounting, and more. I recommend that you download it, which you can do by clicking on the photo at the bottom.
One sentence in this paper that really struck a chord with me was: “the overwhelming ‘cry’ we heard is for better communication from leadership and to be truly heard by them, as well.” That applies to every firm, every business, every leader and every employee, without question.
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