One of the most common challenges accounting firms face is high staff turnover. With an accounting shortage in Australia and New Zealand, and even fewer people being trained, losing a team member can have a detrimental impact on your business.
For a team to be invested in the firm, they need to be inspired by the leader. While outsourcing enables you to offer higher-value work, it doesn’t end there.
In this article, we have rounded up our top tips for retaining staff and improving your leadership skills.
Three tips for strong leadership
1. Good annual work plan
A well-structured work plan is an essential part of any accounting firm. Ensuring that there’s a good annual work plan in place significantly reduces stress in the workplace, especially at the end of the financial year. It also enhances communication among team members and promotes collaboration. Clear timelines foster client trust and help you to stay on track.
2. Clear vision
Along with an annual work plan, a good leader will need to provide a clear vision for the practice. Knowing the what, why, and how will provide clarity for your team and give them clear goals to work towards.
A workplace that follows its visions and values, encourages the team to adopt the same ethos. Visions can also be used to inspire and motivate team members to progress and move forward. To get the team invested in your vision, ask them for feedback and listen to what they have to say.
3. Invest in training
Good leadership doesn’t happen overnight. To become a successful leader, you’ll need to put the work in. The best leaders in accounting are those who aren’t afraid to seek help from others. With such a big workload, it’s almost impossible to improve your managerial skills alone. At Tipu Resourcing, we offer 1:1 coaching to improve your leadership and implement the necessary processes to grow your firm and engage your team.
Wrap up
If you’re struggling with staff turnovers and retention, it’s time to take some action. By investing in leadership training and outsourcing low-value work to offshore accountants, you’ll have the time and resources to focus on your in-house team. You’ll also have more time to train and upskill your staff so that they can take on more fulfilling work.
By seeking expert advice and improving your leadership skills, you’ll have the ability to discover your firm’s true potential.
