How Can Remote Work Revolutionize the Accounting Industry? with Cory Gayman

“People are not black and white; they are nuanced, with different needs and communication styles. I really try to teach my managers and leaders that you have to learn how to communicate, not just say what you want and then move on. This is especially important in a remote environment.” -Cory Gayman 

The finer details of this episode:

• Challenges and benefits of remote work in the accounting industry
• Managing a hybrid setup
• Adapting services for virtual work
• Delegation and communication in remote work environments
• Focusing on outcomes rather than inputs
• Building trust in remote employees
• Impact of remote work on recruiting and retention
• Importance of flexibility and work-life balance

Episode resources:

• Summit Virtual CFO by Anders website: https://www.summitcpa.net/
• Email us with questions or if you’d like to be a guest on the show: youngcpasuccessshow@anderscpa.com
• We’re hiring! Check out our open positions: https://www.summitcpa.net/career-opportunities
• https://jcgcpafirm.com/

Time stamps:

Remote Work Challenges (00:00:24)

Discussion on the challenges and future implications of remote work, especially in rural areas.

Adapting Traditional Practices (00:01:02)

Converting and updating traditional CPA practices into virtual setups and the challenges encountered.

Transition to Virtual Processes (00:02:05)

The process of transitioning traditional practices to virtual processes, including the challenges faced and the need for education.

Employee Resistance to Change (00:04:23)

The mixed response of employees to change, particularly in terms of adapting to remote work and new systems.

Adapting Services for Virtual Work (00:06:12)

Tweaking accounting services to fit the virtual work environment, challenges faced, and the importance of educating clients.

Delegation and Team Growth (00:07:42)

The significance of delegation in a firm, the need for skill development, and the impact on team growth and efficiency.

Managing People and Communication (00:09:44)

The importance of managing people effectively, investing in people management skills, and the role of communication in remote work environments.

Trust and Communication in Remote Work (00:12:08)

The challenges and importance of trust and communication in remote work setups, including strategies for effective communication.

Balancing Remote Work Expectations (00:14:52)

Discussion on time budgets, trust, and the need to focus on project outcomes rather than monitoring employees' every move.

Remote Work Productivity and Trust (00:15:41)

Challenges related to trust, productivity, and the shift from traditional office-based work to remote work environments.

Maintaining Remote Work Culture (00:18:40)

The struggle of some CPA firms in implementing remote work culture and the potential loss of employees due to resistance to remote work.

The importance of remote relationships (00:18:57)

Emphasizing the benefits of remote relationships for clients and employees, promoting efficiency and convenience.

Leveraging remote culture for growth (00:20:06)

Discussing the use of remote culture to grow the workforce and retain employees, focusing on seasonal preparers and concerns about loyalty.

The value of human interaction (00:22:53)

Highlighting the importance of human interaction in a remote work environment, sharing personal experiences and the need for connections.

Promoting work-life balance (00:29:37)

Encouraging flexibility for working parents, promoting a family-first culture, and prioritizing work-life balance.

Transitioning to a stress-free environment (00:32:47)

Emphasizing the need for a project-driven approach over hours, promoting a 32-hour workweek, and reducing stress in the workplace.

The challenges of remote work (00:38:24)

Discussion on the potential negative impact of long working hours and the challenges faced by new CPAs.

Flexibility in work hours (00:40:09)

The importance of flexibility in work hours and the appeal it holds for young professionals and experienced CPAs.

Transitioning into retirement (00:42:52)

The challenges and adjustments faced by CPAs transitioning from high-stress work to retirement, and the value of part-time opportunities for retired professionals.

Reducing stress and extending careers (00:43:49)

The importance of reducing stress in the accounting industry to extend careers and provide a soft landing for retiring professionals.

Promoting work-life balance (00:45:59)

The value of promoting a healthier work-life balance and reducing the emphasis on the number of working hours as a measure of value.

Personal life and community involvement (00:47:15)

Insight into the personal life and community involvement of a CPA, including family activities, involvement in local government, and community engagement.

Firm's services and remote work opportunities (00:50:17)

Information on the firm's services, including remote work opportunities, and the expansion of services to include tax advisory and business coaching.