Jason On Firms Podcast 407 How I’D Run My Accounting Firm on Production Pay
Jan 24, 2025
Discover the world of production pay in accounting firms and its pros and cons. Learn how implementing this system can enhance communication, task delegation, and career development. Explore the challenges of nurturing talent while balancing investment and independence. Delve into innovative staffing solutions, like utilizing offshore talent from the Philippines, and exciting practice management enhancements aimed at boosting client engagement. Uncover strategies for a smooth transition to production pay and the importance of community support in this process.
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Blending Production Pay with Pod Setups
- Blend production pay with pod setups by defining roles and responsibilities for each hierarchy level.
- Allocate production percentages accordingly within the pod, ensuring clear expectations for each role.
Balancing Speed and Quality with Production Pay
- Production pay can incentivize speed over quality, negatively impacting client relationships.
- Implement quality control and client feedback loops to mitigate this risk.
Conflicting Mindsets: Owners vs. Employees
- Firm owners are drawn to production pay due to their entrepreneurial mindset.
- However, employees value stability, making communication and transparency crucial.