TheFutureReadyCPAAICPAEDGEConference

ParticipantsReport&InsightsTomHood,CPA,CITP,CGMA

August5,2016

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AICPAFP&AConferenceTalentDevelopmentintheNewNormal

ParticipantsReport&InsightsTomHood,CPA,CITP,CGMA

July21,2017

Ourinsights…Oneopportunityistofocustraininganddevelopmentonthecriticalskillsparticipantsareidentifying,especiallyintheareaof‘strategicthinking’and‘anticipation(beingaware,predictiveandadaptiveoffuturetrendsandissues).Theseskillselevateandacceleratepeople’sabilitytoadapttomajorchangesinadditiontofindingcreativeandinnovativewaystoaddvaluetothebusiness.Ourresearchconsistentlyshowstheneedfor.Herearethreeareaswecanelevateandaccelerateyourtalentdevelopmentwithcriticalskillsthatwilladdressthesetopchallengesandskillneeds.

1. ConductaStrategicLeadershipandLearningDevelopmentSummitthatidentifiescriticalcompetenciesandcreatesacomprehensivecurriculumincludinge-learningforyourfirm.

2. LeadershipAcademyforyourmanagerstodevelopfacilitation,collaborationandskillstomobilizeteamsandprioritizeprojects.

3. CreateacultureofproactivebusinessadvisorsbyimplementingtheAnticipatoryOrganization:AccountingandFinanceEditionLearningSystemtobegindeveloping.

Youwillfindmoreinformationabouttheseinslides12-20inthisdocument.

Whatisyourbiggesttalentchallenge?Criticalthinking,skillsmix(8)LeadershipdevelopmentandInfluencingSkills(2)IntellectualCuriosity(2)Motivation(2)AbilitytohireandsalarybaseAbilitytothinkandnotjustpushoutdataAcquisitionBeingmixedwithaccountingcreatingasplitfocus.Benchstrength/successionplanningBudgetCommunicationCreativeproblemsolvingCulturalfit

DealingwithstressDemographicsEngagementFindingpersonswiththerightattitudeFindingqualifiedpeopleFocusForwardthinkingGettingpeopletobeproactiveaboutwhatinformationothersarelookingforHiringemployeescommittedtolong-termwiththecompanyInnovationLackofExperienceLackoftechnicalskills(i.e.Financialmodeling)Leadershipdevelopment

Whatgenerationareyou?

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Traditionalists Born 192545 Baby boomers Born 194664 Generation X Born 196580 Millennials Born 198197 Generation Z Born after 1997

Vote

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Whatgenerationdoyoubelongto?

Poll:Whatareyourtopchallenges?(pickthetopfive)

1.Beingproactivevsreactive2.Doingmorewithless3.Findingtherightpeople4.Keepingupwithtechnology

5.Engagingourpeople6.Talentretention7.GenerationalDifferences

Note:OveralltheseareconsistentwithourresearchacrosstheProfession.Findingandretainingtalenthassteadilyriseninthelast12monthsinourpollsacrosstheProfession.“Engagingourpeople”hasalsoincreasedsignificantlyinthepastyear.Generationaldifferencesarerisingonceagain.

Poll:Whatarethetopskillsforfinanceandaccountingprofessionals?(pickthetopfive)

1.Strategicandcriticalthinking2.Communication3.TechSavvyDataanalytics4.Technicalaccountingandfinanceskills

5.Innovation6.Anticipatingandservingevolvingneeds

7.InspirationandCollaboration

Top Skills Needed for Accounting and Finance Professionals

BLI Research in 2015 with over 1,500 responses from all segments of the CPA Profession identified these top skill needed to be successful in these rapidly changing times. This confirms and reinforces the research from the Conference Board, AICPA CPA Horizons 2025 report, Bersin, and Burrus Research..

75% covered by these Top 5

Skills

http://www.blionline.org

What is you insight from this session?Proactive culture in Accounting.How to get started on effectively developing and retaining talentAnticipatory CPANeed to proactively work on developmentDiffering strategies to improve on employee engagementEffectiveness of e-learning and nanoFocus on collaboration, technology, leadership & critical thinking skills developmentPeriodic collaboration instead of big classes in our internal programNeed to link expected business changes to employee learning nowWe need to hire & develop talent for future needsCollaborative learningGrowth (development) second most sought after, only behind compensationLearning to learn in a different wayCollaboration more valuable than experienceOthers are seeing the same issues.Importance on training employee's to retain themIdentifying talents needs and resources to get thereEffectiveness of nano-learningHow to get ready for exponential changesNeed to adapt to our workforceEmbrace the changes in our profession which is essential to future developmentKeeping in mind demographic changes in workplace

What is you insight from this session?Still learning with collaborationOptions in learningStrategic approach with change managementCritical thinking.Critical Thinking essentialDevelop learning plan for teamnew and potentially effective learning conceptsIdeas on how to bring in learning in new ways.generational gap will continue to increase issues in finding talentContinuous education is essential to employee engagementAdapt and prepare for the shiftFocus should be on continued learning for staffContinuous education to keep up with changeThe environment is changing.Replace ROI with the new formula.Direction of future accounting and financeneed offer development proactivelyEyes opening on education.Present in 1 hour segments per week in order to see resultsI need to rethink how my entire department works

#FutureReadyIs the capacity to be anticipatory (aware, predictive and adaptive) of emerging technology and trends in business, demographics, and the social environment impacting your organization and industry.

Source: CPA.COM Insight into the CPA of the Future Study 2014

92% of CPAs Not #futureready

Relevance?

AOAF recognized as 2016 Top learning Product“Everyone keeps telling accountants that they need to change their focus from the historic and the backward-looking, and to start being proactive and offering future-focused advice – but no one tells them how.

The beauty of the Anticipatory Organization program is that it actually gives you a set of tools to harness the hard trends that are shaping the future, and use them to create new value for your firm and your clients.”

- Daniel Hood, Editor-in-Chief, Accounting Today

• Anticipation• StrategicThinking• ExternalAwareness• Vision• ContinuousLearning• Innovation• Creativity• ProblemSolving• Prioritization

• BusinessAcumen• Decisiveness• Influencing/Persuading• EmotionalIntelligence• ConsensusBuilding• Collaboration• Inspiration• RiskManagement• Communication

www.blionline.org/ao

ANTICIPATIONStrategicThinkingExternalAwarenessVisionContinuousLearningInnovationCreativityProblemSolvingPrioritizationBusinessAcumenDecisivenessInfluencing/PersuadingEmotionalIntelligenceConsensusBuildingCollaborationInspirationRiskManagement

The competency of “anticipation” actually includes a number of competencies included in many of the top companies of today and the CPA Profession as well.

Across these models, you'll see a common theme of "strategic thinking," "innovation" and "leading change."

Many of these organizations build (and validate) fantastic competency models and know what they want people to do.

The beauty of the Anticipatory OrganizationTM model is that it offers a clear process that makes highly-abstract leadership competencies attainable and trainable.

If an organization wants to make "strategic thinking" or "innovation" a core competency, we can provide clear, trainable activities that can be targeted to a wide range of learners (from individual contributors to senior leadership).

We provide the bridge between the competency model and the desired observable behaviors.

Anticipation –The Critical Competency

28lessons– 4modules– 1hour/week

• Veryshortsingle-conceptvideos(miniTEDTalks)• Rapidapplicationexercises• Visualjobaidstoreinforcelearning

Anticipatory Organization - First Nano Learning for Accounting and Finance Professionals designed to learn more in less time

E-learning versus Traditional Learning

• $1 invested in e-learning = $30 increase in productivity

• 18% increase in employee engagement

• Reduces learning time 25 to 60 percent

• Increases retention of learning dramatically

• Keeps them productive and able to self-pace around busy schedules

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OurMBAExpressand8-HourMBAprogramwerefeaturedinanInc.Magazinecolumn.

http://blionline.org/featured/mbaexpress/

http://www.blionline.org

XCM has:• Global Presence with 350+

employees• 500+ Customers• 25,000+ Users• 35% of the Top 100 CPA Firms• More Than 2,000 Client

Accounting Businesses

XCM Solutions:• Focus on Tax, Accounting,

Finance & Operations Productivity

• For Businesses and Firms• Browser & Device Agnostic• Scalable Technology and

Resources

XCM’s Productivity Platform: • 1,000,000+ Processes Annually• Customers Report ~30%

Productivity Gains• Over 140,000 Tax Returns

Processed• Largest Tax Return was More Than

2,600 pages

Productivity Simply Enabledwith Offices in Boston, Bangalore & Chennai

Why Are We Overwhelmed and Disengaged? ASK A QUESTION – Rank your top 2

Visibility

Control

Accountability

Flexibility

• Idon’tknow…wherethingssit,ourprogress,whohasthework.• Idon’thaveenoughtime.

• Ihavetoomuchwork,Ican’tkeeptrackofitall.• Idon’tknowWhattodo.

• Idon’tknowHowtodoit.• I’mnotsureWho’sdoingit.

• Ihavechangingpriorities.• Ican’tchangethewaywedothings.

The XCM Productivity Enablement Platform is a solutionthat’s indispensable for Tax, Accounting and Finance Executives.

Visit XCM at: xcmcorporate.com or xcmsolutions.com

From Overwhelmed to Energized

• Organizes the Chaos

• Creates a single thread of the truth for

ownership

• Manages tasks, resources, and deadlines

• Centralizes information across systems,

functions, and tasks

• Absorbs existing technology, without

disrupting your culture

What does Productivity Enablement look like for you?Find out how this looks for you—contact:

Mike SabbatisMike.Sabbatis@xcmsolutions.com

Tom HoodTom@macpa.org