Keep your best people with 'stay interviews'

Thinking about how to build a strong team? This week we’re sharing the playbook on how to conduct “stay interviews,” plus team building activities that don’t involve going to the bar. We’re also talking about how to make the most of your existing client relationships, from incorporating multiple checkpoints throughout the year, preconditioning tips before an upsell and using authenticity to build brand equity. 

But first, the big news everyone is talking about: TaxDome has switched its pricing model to charge firms based on the number of clients rather than your team headcount. 

Don’t go: Instead of waiting to conduct exit interviews, schedule “stay interviews” to find out what’s bugging your team before it’s too late

Bonding time: Swap happy hour for team building activities that don’t center around alcohol, such as hosting a well-being hour, book club or group volunteer time

Staying connected: Clients want to hear from you more frequently, whether it’s by email, phone or text

Warm your list: Upselling your existing client list is great for growing advisory, but preconditioning first can help set the stage

Reach for it: The ideal tech stack for accountants includes connected systems, intelligence and trustworthy recommendations

Sponsored by Canopy

How to survive past busy season

Picking a new system isn't the hard part—getting your team to actually use it when tax season hits is. When firms try to fix disconnected tools, people often slide right back into old habits, scattered spreadsheets and buried inbox threads.

In this free guide, Whitney Kisner shares a battle-tested rollout framework built from leading implementations across real accounting offices. You’ll learn how to:

The accounting industry is experiencing massive shifts, largely due to private equity funding and AI disruption. Rick Dennen, founder and CEO of Oak Street Funding, shares three growth strategies for firms of all sizes. The first is to manage client capacity and shift away from low-fee, high-volume accounts. Next, upscaling pricing is a must, especially if you haven’t raised rates in years. Finally, equity partners should have low billable hours so they can focus on business development. 

Why this matters: Moving your firm alongside industry trends helps ensure growth and profitability even in an evolving landscape. Small changes like adjusting pricing and work distribution can make a big difference. (CPA Practice Advisor)

Shalen Patel, CPA, founder and CEO of J&S Accounting Solutions, recently appeared on Canopy’s Practice Success Podcast to talk about growing his firm with no ad spend. The secret to building a referral-based business? Niching down to the health and wellness sector while sharing his personal fitness journey with prospects. 

Patel said that the biggest part of building brand equity is focusing on the accounting services you have the most experience with. At one point, his referrals grew so much that his firm was accepting clients outside of the original niche. After performing a client list audit, Patel refocused on health entrepreneurs and product-facing founders because that’s where he felt most comfortable in delivering value and building authentic relationships. 

Why this matters: Patel feels that taxes and money are sensitive topics, and they’re even harder for clients if they don’t get along with their CPA. Being honest about your experience and even your personal background can help create professional connections that last. (Practice Success Podcast)

Finance and accounting leaders who say it’s harder to find skilled professionals today than it was a year ago. (Robert Half)

As important as it is to create AI workflows to improve productivity, some tax and accounting firms may be neglecting an equally important skill set: how to evaluate AI outputs. Thomson Reuters recommends a four-step checklist of habits that should be part of every firm’s professional development plan: treat AI work as a draft mode; check for omissions; analyze the logic of AI conclusions; and create a documentation process for human review. 

Why this matters: AI is certainly changing productivity in the accounting industry, but training your team to be critical thinkers can help remove bottlenecks and create long-term success of these technologies. (Thomson Reuters)

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The Net Gains is written and curated by Lauren Ward and edited by Bianca Prieto.