CPA Australia recently released an article on Australia’s reduction in migration numbers, commenting the effects are likely to last for years to come. For Australian accounting firm owners, there are going to be 3 main impacts: Many Australian businesses are going to struggle with finding Australian based workers, with a likelihood of wages growth going to cut down margins in …
Australia lacks workers
In an interesting opinion article last week, businesses across Australia are battling labour shortages as the economy lifts out of the Covid slowdown. Many of the shortages are easily understandable with the lack of working tourists being unavailable with the cessation of international travel, along with restaurants closing a couple of days each week due to lack of staff partly …
Australian compliance: the flight to quality offshore
For the past decade Australian accountants have been hearing of digital transformation, automation, data scraping and a dozen other terms that were on one hand labour saving, and on the other hand job threatening. For some, it’s been about as interesting as watching paint dry. Even with Covid-19 forcing the shift to at-home work, the resulting innovation has not resulted …
Is WFH all it’s cracked up to be?
In 2020, Aussie startup Atlassian started allowing employees to work from home permanently, and Atlassian employees will no longer be required to return to the office when an easing of coronavirus restrictions allow them to do so. Fast forward to 2021, and Atlassian has recently announced staff only need to attend the office four times a year. It’s currently regarded …
Australians happier to import workers for some jobs
In an interesting news article recently the fed-up Federal Employment minister urged unemployed Australians to stop relying on their neighbours and go out and find a job. Perhaps the most important statement of the article was we have “we got to a point where we are happy for Australians to say ‘no, you don’t have to do those jobs, we’ll …
Can Australian accountants be consistent high performers?
I had dinner the other night with an accounting firm owner who was in his mid 60’s, still enjoying life, and handing over his firm to the next generation of accountants. At the same time, we were comparing the Big 4 accounting firms we’d worked in, and discussing accountants we’d known who had already passed away in their 60’s, so …
Why are successful accounting firm owners still working 70 hours per week?
The other day I was speaking with a 50 year old accountant who was just starting afresh in a new firm he had created, but had partnered up with a backer with cash. The accountant was commenting in his working some 70-80 hours each week as “sweat capital”. The middle age accountant is bringing the mentality from the last century, …
Australian accounting firms: recruiting new Gen Z talent and the laws of attraction
As we start to see the next generation enter the workforce, it’s time to revisit Australian accounting firms recruiting. Whilst many are still making comments about the Millennials (Gen Y) who were born from 1981 to 1996, it’s time to start considering recruiting strategies for the Zoomers (Generation Z) who were born from 1997 to 2012, of which the 1997 …
Corporate social responsibility: perhaps now more important than ever
For those reading news online in many of the various news applications or social media applications, it’s hard not to feel (at least for older readers) that the world isn’t doing so well. At the same time, it’s more important for business owners to engender a sense of community and a sense of belonging and giving. And yes, while we …
Australian accounting firm owners: the direct connection of charity to the community
In our last blog, we touched on the lifecycle of the Australian accounting business, with the end result of the lifecycle being the change of the entity to being an investment for the Accounting firm owner. It’s well researched that giving activates the reward centre in your brain, improves life satisfaction, and makes you feel happier. Health also improves through …
