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Letting Employees Wear Jeans Might Help Solve Your Talent Problem

Posted on by Caleb Newquist

Last year around this time, we were dawning on the era of denim in the accounting profession. It started with Baker Tilly, picked up steam with Crowe Horwath, faced some backlash and then finally hit the mainstream in the spring when PwC went all in. 

I'm sure there's a number of people out there that would rather set their framed CPA certificates on fire than allow anyone to wear jeans at the office, but there's something you denim-haters should know — it could help, at least in part, solve your talent problem.

A recent survey from CareerBuilder found that more than one in five workers are planning to change jobs in 2017. This number is even higher for workers aged 18 to 34, around 35%, plan to find a new job. That's precisely the age demo of employees that accounting firms are desperate to hang on to.

They're especially desperate because it's become extremely hard to fill the holes left behind by young CPAs who seek more money, a better quality life or looking for something that's NOT accounting.

So for those firms that are trying to stem the tide going out, the survey shared some insights on what would keep the respondents in a job:

When asked what extra perks would make them more willing to join or stay with a company, the most popular choices workers pointed to include:

  • Half-day Fridays: 40 percent
  • On-site fitness center: 27 percent
  • Being able to wear jeans: 23 percent
  • Daily catered lunches: 22 percent
  • My own office: 22 percent

Alright, since busy season is upon us, I doubt many firms would go for the half-day Fridays. An on-site fitness center might not be feasible for a lot firms and we’ve already established that free food only goes so far, especially during busy season. And since we even have to have this conversation, I'm sure giving everyone an office is out of the question. So maybe try the jeans, then?

[CareerBuilder via CGMA]

Image: iStock/Szepy

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Have You Considered Working For the FDIC?

We talk a lot about the Big 4 and even crappy IRS jobs but we here on Going Concern tend to avoid a very lucrative corner of accounting work: government.

Specifically, I’m talking about the FDIC. Peep this job post (and if you can decode its requirements, you’re probably hired) and tell me if it sounds like something you’d like to shoot for:

Financial Institution Specialists participate in the assessment of financial institutions to determine:

* safe and sound practices, violations of law and regulation
* the adequacy of internal controls and procedures
* the general character of management
* compliance with consumer protection, fair lending and civil rights laws and regulations, and the Community Reinvestment Act

To carry out these responsibilities, Financial Institution Specialists:

* review, monitor and provide analysis of information pertaining to resolutions, settlements, pro-forma preparation, information package preparation, and deposit insurance claims.
* write comments and analyses for inclusion in reports and meet with insured depository institution officials to discuss the findings of an examination and, if necessary, any corrective programs.

Think about it… you get to roll into a bank on a Friday with the rest of the FDIC task force, take over a bank and spend the rest of the night counting your loot. Sounds awesome!

If you are in Atlanta, Boston, New York, Chicago, Dallas/Memphis, Kansas City, San Francisco or Washington, DC, now’s your chance to get in on this hot bank failure action.

To qualify, you must be a federal level grade 7. Here’s all you have to do for that:

A college graduate with a Bachelor’s degree and without previous experience can expect to start in the GS 5 grade, unless they meet the criteria for Superior Academic Achievement or finished a year of graduate school, but did not receive a degree, in which case they will start at the GS-7 level. A college graduate with a Master’s typically starts in the GS-9 grade. More information about the amount of qualifying education for each pay grade and what constitutes Superior Academic Achievement can be found at: http://www.opm.gov/qualifications/SEC-II/s2-e5.asp.

Now the important part… the money. I know that’s all you pricks care about, and/or the only reason you don’t mow down a bunch of people on the freeway with an AK-47 on your way to your cube:

The top four steps of a pay grade are higher paying than the bottom steps of the next highest grade. For example, step 10 in GS-7 pays $44,176/year, step 1 in GS-8 pays $37,631/year.

You can follow the link for specific cost of living numbers based on the area.

Now, as far as I am aware, Big 4 new hires in the San Francisco area get offered $50 – $55,000… generally speaking. In comparison, this gig doesn’t look as good on the surface. But think about it… you’ll have work for life. And benefits that you might want when you’re 50 (I know, that’s a long way off).

If the government makes it to you turning 50, that is. Think about it.

Is It Time To Start Fresh at a New Accounting Firm?

Ed. note: Need career advice or a last minute sweet potato recipe? career advice brain trust? Email us at [email protected] and we’ll stuff you full of wisdom.

Hi GC,

After two years at a national mid-sized firm I’m seriously considering a lateral jump to either another mid-size or local firm. Through some bad luck and my own failure to balance work and my parental responsibilities (aka, put the spouse and kids completely on the backburner), I have gained a reputation among some of the higher-ups in my office for not being committed. While I believe this perception is unfair (I get all my work done on time and on budget), hat it is preventing my promotion to Senior. I don’t want to be in public accounting any longer than I have to, but would like to make the Senior level.

I’d like to stay with my current firm, but I’m concerned that I’m in too deep a hole now to climb out. Almost all the clients I was in line to inherit have been acquired, and I haven’t been picked up on as many engagements as I’ve lost. So even if I get good ratings on my jobs, I am pretty sure that my utilization figures are going to be ugly. A blank slate, full schedule, and even the chance at making Senior earlier are very appealing right now. But is a lateral jump worth the risk? Which is better (or worse) on a résumé: 2.5-3 years with one firm and not making Senior or 2 years with one firm as an associate and 1 year with a different firm as senior?

Please help!!

During my time in and around public accounting, I have found the promotion from Associate to Senior Associate to be a fairly automatic process. Come to work, do your work, make yourself available to go the extra mile (even if it’s not needed), don’t knock up the administrative assistant in the coat closet at the holiday party, and you’re handed the title (instead of a paycheck). Several top notch and newly minted seniors jump ship for private, further justifying the promotion of average Associates to Senior. For you not to be made Senior in the normal time period, I’m going to assume you screwed up somewhere.

From the leadership’s view, public accounting thrives on firm loyalty and employee trust. Whether it’s justified or not, you’ve been labeled as someone that management cannot trust. Somewhere along the line you must have done something to challenge these fundamental rules. The majority of partners and managers still to this day believe in the mantra that “I went through busy seasons of hell when I was young, so you can/should/deserve to, too.” Silly or not, it’s part of the code. So if I understand your statement above regarding family and work/life balance, you didn’t communicate fully with your managers/partners that you needed time with your young family. More likely is that you didn’t make your own “sacrifices” to make the work up: working from home in the evening after kids are in bed, bringing work home on weekends, etc. Maybe you did, maybe you didn’t; what matters is that you need to accept the fact that your clients are being ripped from your ownership – this does not happen unless you’re dropping the ball.

Clean Slate.

You’re up against a challenge by staying at your current firm. Considering your attitude toward your career is, “I don’t want to be in public accounting any longer than I have to” you should work on your résumé this weekend and apply to other firms. The time between now and January is a hot hiring period for CPA firms of all sizes, but be sure to focus on the smaller, regional firms. You’ll have better luck finding the work/life balance you require. That said, do not think that you’ll automatically be handed the title of Senior this fall. A firm will want to see how you do as a experienced associate (how you work with management, the quality of your work, etc.) before trusting you to lead their associates.

Trust. There’s that pesky word again. Taking a busy season to prove yourself at a new firm will be a better use of your time than if you stayed where you are to fight the gossip mongers and labels that are undoubtedly floating around your office. Accept the challenge of proving yourself at a new firm – for the sake of your career and the benefit of your family.

While you’re sitting around the house this weekend, work on the following:

• Updating your résumé
• Updating your LinkedIn account (describing the industries you work on, add a nice – but not Sears photo studio nice – headshot, etc.)
• Researching the CPA firms in your area
• Digging up a recruiter’s contact information

Good luck.