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Session at the Boomer Tech Conference with Sandra Wiley and a group of emerging leaders to work on what they think the "firm of the future" will look like. This includes our research over the past three years with our New Young Professionals Network (NYPN), MACPA and AICPA Leadership Academies, and most recently a poll from the AICPA EDGE Conference for young professionals and emerging leaders. In-depth perspective came from two facilitated session with graduates of the MACPA Leadership Academy - one in 2011 where they produced a whitepaper titled, "what got you here, won't get you there" (See slide hare documents) and a second session facilitated using ThinkTank collaboration system. Combined these produce a bright picture of what these young leaders hope the future firms and organziations will look like. This presentation is set in the context of the major trends in the market, we call the "Shift Change" and includes the CPA Vision for the Future from our work with the AICPA Horizons 2025 Project. Also included is our conceptual career framework we call the Bounce. The Bounce covers the career trajectory of professionals as they move from technical proficiency to managing people and projects and ultimately organizations. The bounce speaks to the change in direction from technical mastery to acquiring competencies to lead others and leading organizations. It is about velocity and trajectory as you shift direction to the need for more “success skills” as you move up n your career. The Bounce includes the latest research on competencies from the AICPA through the CPA Horizons 2025 Project and the CGMA Competency framework. Research provided by our Business Learning Institute, the learning and innovation center for the Maryland Association of CPAs. see our website www.blionline.org
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The CPA Firm of the Future���What Emerging Leaders are
Saying Thriving in the Shift Change
Tom Hood, CPA, CITP, CGMA CEO
Maryland Association of CPAs Business Learning Institute
@tomhood
If there is a conversation about the future of the profession, you're bound to hear Hood's name mentioned as one of the people leading the way. – Accounting Today
Tom Hood, CPA, CITP, CGMA
! Named the Second Most Influential in Accounting
by Accounting Today Magazine 2013 ! Top 150 Influencer by Linked-In ! Top 25 Influencers in Learning & HR by HR
Examiner ! Top 25 Public Accounting Thought Leaders by
CPA Practice Adviser ! Working on Learning Management with AICPA/
CPA2Biz, Cloud Curriculum, Performance Management /XBRL, Leadership & Generations
CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org
http://www.linkedin.com/in/tomhood/
The Shift Change
The Shift Change 1. Leadership!2. Learning!3. Technology!4. Generations!5. Workplace!
The challenge & opportunity is to make the shift from the first curve to the second curve at the right time and with the
right strategy
Leadership
CPAs are trusted advisors who, combining insight with integrity deliver value by:
T
Communica)ng the total picture with clarity and objec=vity Transla)ng complex informa=on into cri=cal knowledge
An)cipa)ng and crea=ng opportuni=es Turning insights into ac)on to transform vision into reality
Top Seven Issues - 2014 1. Not enough time 2. Reactive vs Proactive 3. Talent development and retention 4. Keeping up 5. Growth 6. Doing more with less 7. Information overload http://cpa.tc/54s
Top Seven Issues - 2012 1. Information overload (including accounting and tax
complexity) 2. Work / life balance 3. Generational issues and communications (including upper
management not sharing knowledge with the younger generation)
4. Developing networking skills 5. Keeping up with technology -- especially the cloud 6. Finding career guidance 7. Understanding social media benefits
CPA Success blog post http://cpa.tc/1ef
Top Seven Issues - 2008 1. Bridging the "gap" between college and the "real world." 2. Under-developed skill sets (see more below). 3. Work-life balance. 4. Limited networking opportunities. 5. Intimidation from bosses (partners and CFOs). 6. CPA exam (time, support, information). 7. Lack of a voice within the profession.
CPA Success blog post http://cpa.tc/2w2
Eleven Things Emerging Leaders Want Your to Know 1. More collaborative meetings. Fewer closed door "management" meetings. 2. Be more transparent about the decisions that affect the members of the firm. People want to feel valued, and
when you don't tell them what is going on, it is hard for them to buy in. 3. Stop squelching initiative of those below partner level. If people are willing to take on stretch assignments,
encourage that. 4. Have more people take the strengths-finder test to make sure people are on effective teams. Reallocate people
based on strengths as needed. 5. I would require everyone to have a piece of their schedule to be allocated to the unknown, so that although
you're being reactionary, you're expecting that there are items you can't control or anticipate. 6. More acceptance that even though it takes time, ultimately it will save time (team work and brainstorming). 7. Realize that billable hour is NOT the be-all, end-all metric of actual health of organization. What are other metrics
of a healthy organization? 8. Instead of your staff lining up at our door to solve their problems, imagine if we create a sustainable leadership
culture in which everyone is engaged to accelerate the great vision and mission we have. Imagine a room in which introverts and extroverts create an innovative, multicultural plan to help us reach our goals. We need to be realistic in new work that's brought on, from both realistic budget hours with expectations of first-year growing pains as well as resources available to service work. The attitude should not be to bring on all clients without regard for resources. Does that mean a client or potential client rating scale? Yes, both of the client and our own internal resources.
9. After spending money and time sending people to training, encourage feedback and expect changes as a result of the investment. Embrace that.
10. Take a financial risk on leadership. Watch it pay dividends in the future. http://cpa.tc/54r
Source: ThinkTank session with MACPA Leadership Academy
Four Themes from MACPA Leadership Academy
1. Communication 2. Collaboration 3. Anticipation 4. Talent Development
What do we need to do about it? Imagine if we create a sustainable leadership culture in which
everyone is engaged to accelerate the great vision and mission we have. Imagine a room in which introverts and extroverts create an innovative, multicultural plan to help
us reach our goals.
The Next Gen CPA Leaders… 1. are proactive, flexible, adaptive and collaborative by nature;
2. have regained the trust of their clients and the public at large;
3. have successfully bridged the profession’s “leadership gap” by focusing on succession planning, personal growth, and generational cooperation;
4. have created the profession’s premier global industry standards and best practices;
5. have redefined the profession through work / life integration, collaboration, and a team-first approach; and
6. have earned a reputation as technological innovators.
How? 1. Professional unity 2. Work / life integration 3. The evolving nature of leadership and new leadership models
4. Proactive, goal-focused planning
5. Networked collaboration 6. Embracing and adopting new technologies
From: To: Hierarchy Network Transactions Relationships Efficient Effective Well managed Well led Command & Control Connect &
Collaborate Push Pull Good Great
CPAs are trusted advisors who, combining insight with integrity deliver value by:
T
Communica)ng the total picture with clarity and objec=vity Transla)ng complex informa=on into cri=cal knowledge
An)cipa)ng and crea=ng opportuni=es Turning insights into ac)on to transform vision into reality
Your clients want the “new you” “I need you, but I don't need the old you. I need a new you who understands the transformation I’m going through as your customer. If you don’t, you're out of touch.” - Dan Burrus futurist
http://cpa.tc/1pt
www.blionline.org
www.blionline.org
Technical Skills
CGMA Follows the Bounce!
www.blionline.org
The Bounce
R.E.M. Michael Stipe
It’s the End of
the World as We Know
It
Tom Hood, CPA.CITP CEO
Maryland Associa)on of CPAs Business Learning Ins)tute
(443) 632-‐2301 E-‐mail [email protected]
Web hNp://www.macpa.org hNp://www.blionline.org
‘Blog hNp://www.cpasuccess.com
