Tackling Trends in Accounting and The Workforce Shortage
Podcast: Tackling Trends in Accounting and The Workforce Shortage
[00:01 – 10:47] How COVID-19 Impacted the Workforce Over the Years
- The ups and downs of COVID-19 may have been unpredictable, but clients surely have stronger 2021s compared to 2020s.
- Moving forward, people can have better years but the rising inflation cost and work shortage stir up fear and uncertainties.
- Learning remote work is essential especially in the current status moving forward.
- With how the world is changing in the last two years, the impact on the workforce is notably negative on a larger scale. However, because of the inflation, business owners need to be wary about the wage increase.
[10:48 – 22:21] A Myriad of Aspects to Consider in the Aims of GDP and Business Growth
- In the lens of CPA firms, both small and big businesses are in for a challenge of workforce shortage.
- To sustain the GDP growth, American policies must ease their immigration policies.
- It is difficult to invest right now, given the current state of the government and its debt.
- In the last 18 months, we’ve seen IPO performances go up at least a turn almost overnight. It is a combination of two things – the quality of the businesses that are now potentially hitting the market and a big run-up in the stock market.
[22:22 – 34:03] Essentials in Decision-Making and Systems Curation Processes
- The family must be on the table when making big decisions as these can also change their lives.
- A great practice to incorporate is to allow two or three years of making sure that there is a buttoned-down decision-making matrix within your company and that the systems and processes are well-documented.
- When it comes to earnouts, the advice is to make sellers comfortable about not earning another dollar to refrain from being emotional.
[34:04 – 36:50] Closing Segment
- Check out Aprio and Aprio Advisory Podcast to see actionable and insightful information about what’s happening within the marketplace.
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