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The New York Times Takes the Big 4’s Work-Life Balance Bait

Late(r) on Friday, the New York Times published an article championing the accounting firms for their commitment to providing a flexible work arrangements for its employees. The article, as you would expect from the Times, provides numerous examples of how the policies of the Big 4 and other major accounting firms make life extra-peachy for their employees.

The article leads off with none other than a firm who has been in desperate need for good press:

As the peak season for the nation’s accounting firms begins, David Leeds’s team at Ernst & Young is once again bracing for two months of 60-hour weeks auditajor bank in Atlanta.

In years past, those grueling weeks often fueled nasty marital spats about missed dinners and children’s tantrums over forgotten basketball games.

Not any more. At Ernst & Young, as at the nation’s other major accounting firms, workplace flexibility has been built into the culture — even during crunch time. [our emphasis]

Every Monday morning, the 15 people on Mr. Leeds’s team meet and lay out the personal commitments that might interfere with work — basketball games, teacher conferences, Pilates classes, weddings. They arrange to cover for each other, helping make the busy season tolerable for everyone. Despite the auditing team’s six-day weeks, one Auburn University graduate, for example, is taking next Monday and Tuesday off to see the school’s football team play in the national championship bowl in Arizona. And Mr. Leeds plans to escape to New Orleans for three days to see his daughter run a marathon.

“We face very tight deadlines from our clients, but at the same time we try to make sure that team members have the flexibility they need,” said Mr. Leeds, a partner at the firm.

Parent-teacher conferences! Pilates! The Bowl Championship Series! From the sounds of it, you’d think being the an E&Y partner on a banking client was like whistling dixie (in Atlanta anyway). We’ll give this Atlanta team the benefit of the doubt (unless someone wants to email us with a different story) but the Times gives you the impression that the gambit of the industry is sympathetic to your family time and college gridiron road trip ambitions. Even during busy season. More untrue, this could not be.

We could go on with anecdotes about a senior manager’s spouse being in the hospital or the lack of flexibility given to a single dad OR not allowing someone to scoot out an hour early to see their girlfriend because she’s in from out of town but that really isn’t necessary. Examples such as those are simply provide you with a the spectrum of firms being at their absolute worst. What about the lion share of employees at these firms? Chances are, if you walked over to 5 Times Square and pulled aside the first person you saw with a E&Y backpack, they’d tell you that they are preparing to be sleep deprived for the next three months and if you told them they would get a dozen days off in that time frame, they’d be thrilled. Furthermore, if you were ask them if their partner had weekly meetings to ensure that everyone’s extracurricular activities were being respected, they’d look at you like you had three heads.

We won’t dismiss the firms’ efforts entirely because as we said, the Times cited several examples of employees who have taken advantage of the flexible schedules but the article is full of the rhetoric candidates and employees hear regularly when it comes to work-life balance. The best example being one of the last quotes from E&Y partner Brooke Sikes, who is out of Dallas:

“The firm very much rewards you for your performance,” she said. “It’s not about punching a clock. It’s not about face time.”

Not really much needs to be said. Reactions to this statement and any other thoughts on the current work-life efforts by your firm are welcome at this time.

Flex Time Flourishes in Accounting Industry [NYT]

CPAs: Start Your Stimulus Engines

Apparently this video is from last year but whatevs. Since the new year is creeping up fast, it serves as a friendly reminder that all the tax jockeys out there carry some heavy responsibility, stimulating the economy year after year.

Okay, let’s forget about the refunds for two. What’s really worth noting is all the CPAs out there scarfing bagels and guzzling coffee from January until March/mid-April because their time is far to valuable to bother going to the grocery store to buy a piece of fruit. Then think about all the late night take-out. The profession is single-handedly keeping bagel shops, pizza joints and various Asian restaurants in business year after year.

Then Joe Kristan makes the following point:

Never mind that the refunds are a result of overwithholding, or anti-stimulus, the rest of the year. Actually, in a way, it underlines how all “stimulus” spending really works: it takes our money all year, and we’re supposed to feel stimulated when they give a little of it back.

So in reality, the only stimulus is CPAs giving a boost to various segments of the restaurant industry. It’s not ideal but it’s an annual boost they can rely upon, nonetheless.

[via Tax Update Blog via Tax Lawyer’s Blog]