Tax season is here. For many Americans, it’s a time for stress (and a time for joy – at least for those that expect big returns!). For you, it’s just another day at the office. Managing a productive and profitable tax firm is no small feat, as success in this industry takes more than number-crunching skills. If you’re looking for ways to make your team more productive and improve output, consider implementing some of these strategies into your daily processes.
Get Rid of the Unnecessary Paperwork
It’s 2019 – get rid of the paper clutter. If you’ve not yet made the move to paperless workflow, it’s high time. This simple move can help you reduce paper-based administrative tasks, and will save you more time than you thought possible. Reduce desk clutter, clear up valuable storage space, and make sure your clients’ sensitive information is secured using the latest encryption technology.
Create Credibility within Your Industry with a Blog
Do you have a website? If not, step one: create a website today! Once you’ve got your site up and running, consider the benefits of maintaining a high-quality blog. Write posts yourself or hire a ghostwriter (provide an outline of the points you want to hit and they can flesh it out with their writing prowess). Your blog can serve to position you as a thought leader and reputable tax service provider.
Additionally, you can use your blog to field questions from customers. Create pages that answer the most common questions you receive from prospective and current clients, and waste less time fielding phone calls.
Take Advantage of the Latest Technology
Technology is changing the landscape of virtually industry, and the tax field is no exception. Streamline your accounting processes with the latest tax tools and tax planning software. Embracing the latest gadgets and programs can help you stay competitive with local tax firms, and improve productivity within your internal team.
Social media software can help you enhance communication between team members. Programs like Slack can allow for group chats, file sharing, and more, and this improved connectivity can make a significant difference in work flow – especially if you employ remote workers.
Assemble the Right Team
A company is only as successful as its weakest team member. If you don’t have a team of dedicated, intelligent, capable employees, you won’t succeed. Unfortunately, hiring the right employees can be an arduous, exhausting process. Take the time to sit down and refine your hiring process.
- How do you advertise the job?
Look at the way you’re advertising open positions; do you place job listings on the major players like Indeed? Do you give thorough job descriptions that provide an accurate snapshot of the role?
- How do you interview?
If you’re basing your hiring decisions on solo interviews and gut instinct, take a hard look at your interviewing process. Make sure you’re asking the right questions and getting feedback from the rest of your team member – after all, you’ll want new hires to be cultural fits that mesh well with the rest of the team.
- Are you screening your employees?
You’d be surprised at how many job applicants lie on resumes. In order to verify that a candidate is the right fit for your position, make sure you’re screening them thoroughly. Use a reptuable service that sticks to FCRA compliance regulations and gives you the information you need to make a confident hiring decision.
- Are you paying well enough?
Whether you’re hiring interns from a local college or an experienced CPA with decades of experience, you must remain competitive with pay. Investing in the right team will lead to profits in the long run.
Conclusion
Improving productivity in your tax firm is a matter of following the steps above and making them work for your needs. Start slowly and implement a few of these – prepare for output and profits to rise accordingly.
