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20 August 2015 • www.CPAPracticeAdvisor.com FEATURE 1. Show your appreciation to your employees for a job well done. 2. T h i n k about how you c a n do things beter next year. Address both items now and your frm will be beter prepared to meet the challenges of the nex t busy season. You'll not only have an action plan, but also a motivated team to help you carry it out successfully. Following are some tips for tack ling these t wo essential post-busy season to-dos. Praise and more pay: a winning combination A sincere thank-you is a meaningful way to acknowledge your team members for t heir good work . No doubt, you've already offered thanks and praise to your staf. Perhaps you even acknowl- edged some or all of your employees in a more high-profle way — for example, by trumpeting their success in a frm- wide meeting. But how do your workers want to be recognized? Tink fnancial compensa- tion. According to 60 percent of CPAs surveyed for Te People Puzzle: Building and Retaining a Talented Accounting and Fina nc e Te a m f rom t he A mer ic a n Institute of CPAs and Robert Half, a salary increase is the preferred way to be acknowledged. (A promotion was a distant second, at 25 percent.) Raises for deserving employees can also have a lasting, positive impact on your f irm's retention ef for ts. Chief financial officers and workers inter- viewed for a Robert Half survey agreed inadequate salary and benefts is the number-one reason good employees quit their jobs. In today's highly com- petitive hiring market, skilled profes- sionals know they have options and are not likely to continue working for an employer t hat i s not prov id i ng a n appropriate level of compensation. If pay increases for your team mem- bers are simply not in the cards due to budget constraints, consider the bonus t r ac k i n s t e a d . K e e p i n m i nd t h at replacing a productive worker costs much more than a bonus ack nowl- edging that person's contribution to the frm's success. The gift of time — and fun Paid time of or extra vacation days — and making it possible for staf to take that time when they want to — can also be powerf ul perks. The end of busy season is an especially good time to underscore to your employees that the firm takes their well-being seriously. Show them how much by instituting scheduling and telecommuting options they can take advantage of year-round to beter maintain work-life balance. T his gest ure can have a positive impact on retention, too: In Te People Puzzle, accounting and fnance profes- sionals cited "fexible work hours" as one of the top three non-monetar y con- tributors to job satisfaction. (And for CPAs at small businesses, it was #1.) Arranging a fun activity or outing, like going to a baseball game together or having a picnic, is another way to show your appreciation for the eforts you r employees made du r i ng busy season. Your whole team can let off some steam and get to know each other better outside of the office. A nd you — Te Boss — have the opportunity to interact w ith your staff in a rela xed atmosphere and celebrate their recent accomplishments, all while enhancing your team-building eforts. Tese recognition eforts can give your workers reason to be proud of what they achieved during busy season. And as the stress of the past several months fades, they also will soon recall why they love their jobs — especially if you help them remember. Ask for staff input on how to improve Now, to the second item on your post- busy season to-do list: Tink about how you can do things beter next year. Not s u r e w h e r e t o s t a r t ? A s k y o u r employees. Tey will know frsthand what worked and what didn't these past several months and likely have valuable suggestions for improvement. Tere are a va r iet y of opt ions you ca n tap to obtain their feedback. One-on-one and group meetings represent an opportu- nity to hold in-depth discussions on issues and suggestions raised by staf members. If you have the resources, consider conducting an employee survey. Many times, people feel more comfortable offering feedback, particularly if it's negative, via an anonymous survey. Te results can provide you valuable insights into how your team members are feeling and ways you can improve your opera- tions. In every communications channel you use, make clear that you want to hear individuals' concerns and recom- mendations. W hat you learn can help you determine, for example, whether you had adequate resources in place this year, and if you should consider seting aside budget for interim sup- port or other hiring next year. Before you know it, Q1 2016 will be here. Cross of these two fnal to-dos for 2015 if you want to be fully prepared to meet the challenges of the next busy season. A Post-Busy Season HR Checklist for Accounting & Tax Firms By Paul McDonald A s your firm emerges from yet another busy season, the last things you want to revisit and mull over are all the long hours and hard work you and your team put in to reach the fnish line. But before you ofcially move on from this intense work period, there are still two important things to do: Paul McDonald is senior executive director with Robert Half, the world's frst and largest specialized stafng frm. Over the course of his 30-year career with the company, he has spoken extensively on employment and management issues based on his work with thousands of companies and job seekers.