Accounting Influencers Podcast | Human Capital & Talent in Accounting - Gary Shamis - Accounting Influencers Podcast

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Published on:

16th Mar 2023

Human Capital & Talent in Accounting – Gary Shamis

Welcome to the Accounting Influencers Podcast, going live every Monday to 150 countries and 30,000 accounting practitioners, fintech specialists and influencers in the accountancy, CPA and bookkeeping space.

In this Talent Special bonus, "Human Capital & Talent in Accounting", host Rob Brown speaks with guest Gary Shamis about the challenges accounting firms face in talent acquisition and retention. Shamis notes the 50% decrease in the pipeline of new CPAs over the last five years and believes that the value proposition in public accounting needs to be improved, creating a deep hole in the industry. He emphasises the importance of focusing on clients, people, and growth, staying up-to-date with the competition, and re-evaluating the value proposition to increase the bottom end of compensation and create a culture of growth.

The discussion also covers the impact of automation and robotics on the accounting industry. Shamis advises firms to have a contingency plan and appoint a tech-savvy employee to monitor industry developments. Attracting talented employees is a challenge, and the speaker suggests focusing marketing efforts on attracting staff rather than clients and changing partner bonuses to include incentives for bringing in talent. A strong brand is also essential for attracting both clients and employees.

You can also watch this on youtube here: https://youtu.be/RiPX4KXYH0c

Key Takeaways

➤ New CPA pipeline has decreased by 50% in the last five years, creating a deep hole in the industry.

➤ Value proposition in public accounting needs improvement to attract and retain talent.

➤ Focusing on clients, people, and growth is crucial for accounting firms to succeed.

➤ Staying up-to-date with competition and re-evaluating the value proposition is necessary.

➤ Automation and robotics are impacting the accounting industry, and firms need a contingency plan.

➤ Appointing a tech-savvy employee to monitor industry developments is crucial.

➤ Marketing efforts should focus on attracting staff rather than just clients.

➤ Partner bonuses should include incentives for bringing in talent.

➤ A strong brand is essential for attracting both clients and employees.

➤ Accounting firms must adapt to the changing landscape of the industry to succeed in talent acquisition and retention.

Guest Bio

Gary Shamis is an accomplished former managing partner of a top 40 US accounting firm that he sold to BDO in 2015. He is now the CEO of Winding River Consulting, which provides high-level strategy consulting to the Restaurant, CPA, and professional services industries. With numerous accolades in the accounting field, Gary was recognised as the EY Entrepreneur of the Year and is a Top Ten Managing Partner Elite by Accounting Today, where he was described as the “very model of the modern managing partner." Additionally, he was named Most Admired Peer by INSIDE Public Accounting and has been featured more than a dozen times on the Most Influential list by Accounting Today. Gary also co-authored How to Manage Your Accounting Practice: Taking Your Firm from Chaos to Consensus.

In addition to his successful accounting career, Gary has served within the American Institute of Certified Public Accountants ranks. You can connect with Gary through his LinkedIn profile or Winding River Consulting's website. He has also been featured in various interviews, including "Accounting Firm Leadership Priorities: Gary Shamis" and "Key Drivers of Change in Accounting with Gary Shamis."

You can connect with Gary here:

https://www.linkedin.com/in/gary-shamis-wrc

https://windingriverconsulting.com

Check out these other interviews with Gary:

"Accounting Firm Leadership Priorities: Gary Shamis"

https://bit.ly/3lyBIgW

"Key Drivers of Change in Accounting with Gary Shamis"

https://bit.ly/3xIhneq

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Accountex is Europe’s largest annual event for the accounting and finance profession. It attracts 8,000+ attendees and 250+ exhibitors. Attendees can get up to 16 CPD hours with 200+ free seminar sessions across 12 theatres.

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About the Podcast

Accounting Influencers Podcast
Host Rob Brown shows accounting professionals and leaders how to be more influential, grow their personal brand and be more authoritative, relevant and high profile in their roles..
The Accounting Influencers Podcast, hosted by Rob Brown, is a must-listen for accounting professionals looking to strengthen their leadership presence, stay informed on disruptive forces in accounting and build credibility within their firms. Geared toward firm leaders, managers, partners and influencers, the show covers key topics like career development, influence, personal branding and interpreting the evolving trends impacting the accounting world. Rob brings his expertise to each episode, offering insights and guidance on how to grow your personal brand and stay strategically important in a rapidly changing profession. Whether you're aiming to influence within your firm or expand your reputation outside of it, this international podcast offers practical advice and forward-thinking insights that will keep you informed and prepared for the future.
Accounting leadership
Executive presence for accountants
Building influence in accounting
Accounting industry trends
Personal branding for accountants
Accounting firm strategy
Accounting business models
Leadership in accounting firms
Talent management in accounting
Authority in accounting profession
Career development for accountants
Accounting firm growth strategies
Influencers in accounting
Accounting firm management
Disruptive forces in accounting
Accounting leadership strategies
Accounting career success
Accounting firm decision-makers
Accounting business trends
Building credibility in accounting

About your host

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Rob Brown

Rob Brown hosts the multiple accounting podcast and chair conferences, panels and events globally for the accounting and fintech profession. He is co-founder of Accounting Influencers Roundtable (AIR) which helps vendors, experts and influencers serve the accounting and finance world. He is a dynamic speaker and accomplished expert on trust, reputation, employer brand, talent, career development, succession, gen z/generations, employee advocacy and executive presence. Rob is author of the bestselling book Build Your Reputation (Wiley) and his TEDx talk ‘The Personal Brand of You’ has been viewed 400,000 times on YouTube. He is a stroke survivor, has epilepsy, is a committed Christian and has a black belt in kickboxing. He is based in Nottingham UK, home of Robin Hood, plays chess and backgammon, loves orange chocolate and is allergic to grapefruit.