Your employees are the heart and soul of your business. They keep your clients happy and they keep operations running. It’s important to make sure that you take care of them. Not only do happy employees make for happy clients, it’s expensive to hire and train. So, keeping your turnover low is extremely advantageous. Here are some great ways to invest in your employees so that they continue to grow and be successful at your firm.
Help them find their own niche
Becoming a specialist in one area of tax is a great way to zero in on specific clients and earn their trust. Think about it. If you have curly hair, you want to go to a hairdresser that specializes in curly hair. If you’re in the mood for pizza, you don’t want to go to a random restaurant that happens to have pizza on their menu, you want a place that makes pizza.
Did you know? 25% of employees would be more satisfied at work if they were given the opportunity to do what they do best.
If there’s an area of tax law that an employees seems to be particularly interested in, why not let them specialize in it by offering to pay for CE Courses online?
We’ve written about becoming a specialist before. Check out the blog post below.
Become Enrolled Agents
It’s not that hard to gain the knowledge and expertise to prepare taxes for the general public, just look at the national tax firms turn and burn employees each tax season. Being an Enrolled Agent is the highest credential there is in the tax industry, which hold a lot of weight! Wouldn’t you rather have tax preparers who can better serve clients, charge more for their services, and promote as experts? Invest in your employees by putting on the path to Enrolled Agent.
Spend time on initial training
The on-boarding and training process of a new employee is crucial to retention. Investing in your staff means investing time to train them properly. That goes beyond making sure they prepare taxes properly. It includes knowing the policies and procedures, ongoing and upcoming promotions and you customer service standards.
Did you know? 40% of employees who receive poor job training leave their positions within the first year.
Being a successful tax preparer involves networking and relationship building. Your tax preparers need to get out of the office during the slow season to network, build relationships, and have opportunities for professional development. Whether it’s the occasional Lunch & Learn offered by a local or national association or a seminar, you should make sure that your employees are developing their professional skills and increasing their network.
Finding fun ways to acknowledge their hard work
Finally, beyond continuing education and professional development you’ve got to learn to have fun. Celebrate successes, acknowledge hard work, and create a workplace that your staff is excited to come to each day. It doesn’t take much. Here at The Income Tax School we host holiday parties, have ice cream socials, and even have a “fun committee” for planning fun activities.
Turn over is expensive. The best practice is to hire good employees and then invest in their development.