Issue #21 - Crazy (tax) busy season hours
It's almost that time of the year plus a strong word against toxic productivity
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Small change, big difference
It’s almost that time of the year.
Not the one with the kids jingle belling. And everyone telling you, "Be of good cheer!"
But the one where working 80-hour weeks, gulping at least 20 cups of coffee a day, and having little to no time for extracurricular activities will become the norm.
It’s not your fault. It’s the very messy books, the team member that quit last minute, clients that send information when they feel like it, and the stress of it all.
But is there anything you can do to work “almost” regular work hours during tax season? Like Dawn Brolin who coaches softball all year round including during tax season or Logan Graf that utterly refuses the hustle culture.
In his session at #WorkflowCon, titled “How to Avoid Crazy Busy Season Hours and have a good quality of life year round”, Logan shared the strategies he uses to not work as much during tax season. He talked about his client nuking process, using technology, enforcing boundaries, and making some major mindset shifts.
When you don’t work as much during busy season, you can apply the same principles all year round to have a good quality of life.
-Logan Graf
Catch the recap here.
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Bookkeepers Business Incubator
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A Case Against Toxic Productivity
"I’ll sleep when I’m dead." This once-commonly repeated line, often used to justify late nights finishing deadlines or pushing through exhaustion to answer one more email, is a sentiment many workers can relate to. For some, skipping meals or sacrificing personal time to "get ahead" became a badge of honor, an indication of commitment. But this mindset, though it may have seemed harmless or even admirable at the time, can come with serious consequences.
The 2024 Mercer Global Talent Trend Report, based on insights from over 12,000 global participants, highlights the growing risks of burnout. According to the report, 82% of the workforce is at risk, with excessive workload, fatigue, and financial stress named as key contributing factors.
This pattern is a clear example of toxic productivity — an unhealthy obsession with being constantly productive, often to the detriment of mental and physical health, relationships, and overall well-being. Toxic productivity isn’t just unsustainable; it's dangerous.
Read the full article to understand the roots of toxic productivity and the role of leadership in breaking the cycle.
Culled from Jennifer Moss’s article for HBR.
Year-End Hiring Strategies for 2024: Navigating the Senior Talent Gap in Accounting
As accounting firms look ahead to 2025, they are facing a significant challenge: a widening talent gap fueled by the retirement of experienced CPAs and other professionals. The industry has long struggled with talent shortages, but the situation has become more urgent as an estimated 75% of CPAs reached retirement age by 2020, coupled with a decline in the number of accounting graduates entering the profession. These factors have only intensified the talent challenges the industry is experiencing.
Recognizing the severity of the talent shortfall, the accounting sector has begun to refocus efforts on addressing these issues. While this renewed emphasis on strategic recruitment is a step in the right direction, solutions to attract new talent will take time. Refilling talent pipelines is a long-term effort, and meaningful results may not materialize for several years.
Read the full article to uncover retention and hiring strategies you can adopt in 2025.
Culled from Amy Gallagher’s article for CPA Practice Advisor
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10 Smart Ways To Use AI Accounting Software in Your Firm
The accounting industry is in a challenging position. Between 2020 and 2022, a staggering 300,000 accountants left the field, as reported by the Wall Street Journal. On top of that, there is a decline in accounting graduates. Simply put, the demand for skilled accountants far exceeds the supply, and firms are feeling the repercussions.
How can firms adapt to this challenging landscape and continue to serve clients effectively? AI accounting software offers a compelling solution. By automating manual, repetitive tasks, reducing errors, and crunching data fast, AI can handle essential yet tedious work.
AI is no longer optional or a nice-to-have; it’s a necessity for accounting or bookkeeping firms who want to scale and remain competitive.
Here are ten smart and efficient ways to incorporate AI into your processes.
Five Ways to Make Annual Planning and Budgeting More Effective
At many companies, the annual planning and budgeting process often becomes an exercise in artificial precision. CFOs and finance teams dedicate weeks—sometimes months—creating a detailed budget for the year ahead. The numbers appear reassuringly specific, but they often begin to unravel at the first sign of disruption.
In the past, planning was more straightforward. A decade ago, when the business environment was more predictable, CFOs could look at last year’s figures, add a modest percentage, and call it a day. Today, however, the landscape is far more volatile. Rapid advances in technology, shifting customer behavior, geopolitical tensions, and supply chain disruptions can all quickly derail even the most carefully crafted budgets. As a result, annual forecasts are often less useful to business leaders than they should be.
So, how can companies improve their approach? Drawing from our experience working with CFOs and finance teams across industries and global markets, we recommend focusing on five key actions to make the budgeting process more adaptive and effective.
Culled from Alexander Roos and Michael Demyttenaere’s article for BCG.
Happy Holidays, Friends 💚,
See you in 2025!
