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by Casper de Waal | May 2023
With all the hype regarding artificial intelligence doing the rounds in all and every article currently posted regarding the accounting industry, we feel that it is time to speak about skills development within the small to medium size accounting practice.
Yes, we definitely don’t deny the fact that change is coming within the industry in the next decade, but we feel strongly about the fact that Accountants will always play an integral part in any economy worldwide.
The difference would be the skill that the accountant and their staff complement can deliver to their clients and industry. So, what would be the benefits to skill upliftment in your practice? To name a few:
Improved productivity. Better skilled equals less time spent on tasks equals more tasks get done in the same time limit.
Enhanced reputation. With skilled personnel, you stand a much better chance to get a highly valued reputation in the market, which in turn delivers a much better and more profitable client pool.
Staff retention. Every single person wants to better themselves. This is usually true in all aspects of life and if you afford your staff to do this, they will definitely stay longer and be much happier!
How would you go about skills upliftment or development within your practice? Glad you asked. By having a definite plan towards training. We want to go as far as to say that it could be one of your mission statements for the next 5 years. Maybe not even could, but rather should be!
Through conversation with your personnel, to find out what are their goals and how they would like to achieve it and then supporting them on their journey.
Through envisioning the future of the industry and trying to identify niche markets that you and your firm can specialize in, making you the industry leaders in that specific area.
To finish off the conversation, accountants are going nowhere! Find your preferred spot in the market, upskill your practice to be the best in that area and enjoy the benefits.