Trust: A Diminishing Commodity? Is It Still Relevant in Today's World?

Cory Sheer, Author of “Closing the Trust Gap”, shares his insights on the alarming decline of trust across all aspects of society, from personal relationships to corporate entities and government institutions. He argues that the collective trauma of the COVID-19 pandemic, coupled with the disruptive forces of emerging technologies and economic challenges, has created a fertile ground for distrust to thrive.

Cory emphasizes the crucial role of trust as the bedrock of successful organizations and relationships. He provides a comprehensive framework for understanding trust, highlighting its three key components: competency, problem-solving, and care for others. By addressing these elements, leaders and individuals can cultivate an environment of trust and foster a culture of accountability, focus, and shared commitments.

Key Takeaways:

• Trust is the firm belief in the truth of something, and when different versions of truth coexist, trust erodes. [00:01:20]
• The three building blocks of trust are competency, problem-solving (identifying the right problems), and care for others (empathy, active listening). [00:07:40]
• Active listening, demonstrating genuine care for others, is the most effective way to build trust, without any financial cost. [00:10:20]
• Setting shared commitments and ground rules is crucial for creating a safe space for open and authentic conversations. [00:16:00]
• In a hybrid work environment, clarity, focus, and effective communication are even more critical for maintaining trust. [00:19:30]

Quotes:

"If you have somebody in the organization, especially if they're the leader of the organization, where they're highly competent, they're a fierce problem solver, but they don't have at all any care for others, what people feel is a lack of trust." [00:09:30]

"Trust is, by nature, it is relational. It is something that we have to have human-to-human contact in order for trust to be cultivated and strengthened." [00:18:50]

You can watch this episode and more on our YouTube Channel: https://youtu.be/JgpsQlZ8W3o

Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers

Thanks to our sponsors:

ACCOUNTINGFLY. Accountingfly connects employers with top U.S.-based accounting talent through a variety of services including dedicated searches, Always-On Recruiting, and freelance placements for seasonal or temporary needs. They specialize in remote accounting recruitment, recognizing early on the significant advantages that remote work offers to employers, job-seekers, and their own operations. They pride themselves on their track record of matching the right candidates with the right opportunities and building a robust team of industry experts. Additionally, their partnership with Going Concern—an esteemed source for accounting news and insights—further enhances their ability to stay on the cutting edge of remote recruiting by tapping into a natural pipeline of job seekers.

If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

The Accounting World is Bracing for a Talent Exodus - Are You Prepared?

A groundbreaking global study reveals a profession in turmoil, with widespread dissatisfaction threatening to drain the talent pool. In this hard-hitting solo episode, host Rob Brown unpacks the uncomfortable truths unearthed by the ACCA's (Association of Chartered Certified Accountants) on global talent trends in the accounting profession. The study, based on data from nearly 10,000 accounting and finance professionals across 157 countries, reveals that many accountants are dissatisfied and unsettled in their roles.

Rob delves into the reasons behind this dissatisfaction, including concerns over pay levels, work-life balance, and the impact of technology and AI on jobs.

The episode also highlights the growing desire for remote and hybrid work arrangements, with only 9% of employees at Big Four firms preferring to work in the office full-time.

Rob emphasizes the importance of adapting to these changing workforce preferences to attract and retain top talent.

Key Takeaways:

• Only 57% of respondents work full-time in the office, while 8% are fully remote. (00:02:00)
• 75% of respondents said they go to the office because their employer requires it. (00:03:50)
• 34% of respondents at small firms and 38% at Big Four/mid-tier firms are unhappy with pay levels. (00:07:10)
• Inflation impacting salaries is the biggest work-related fear for 40-44% of respondents across firm sizes. (00:10:00)
• 46% of Big Four employees fear for their mental health. (00:10:20)

Quotes:

"Compensation is a big thing. Remote working is a big thing. The talent pipeline, people are leeching out of accounting once they're in it, and people are not coming into it in the first place." (00:16:20)

"It should be the governing bodies, but even the accounting leaders, the influencers all have a responsibility, we might say, to shape the profession and be an ambassador for the profession." (00:15:50)

You can watch this episode and more on our YouTube Channel: https://youtu.be/5rB_ATw-vOU

Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers

Thanks to our sponsors:

ACCOUNTINGFLY. Accountingfly connects employers with top U.S.-based accounting talent through a variety of services including dedicated searches, Always-On Recruiting, and freelance placements for seasonal or temporary needs. They specialize in remote accounting recruitment, recognizing early on the significant advantages that remote work offers to employers, job-seekers, and their own operations. They pride themselves on their track record of matching the right candidates with the right opportunities and building a robust team of industry experts. Additionally, their partnership with Going Concern—an esteemed source for accounting news and insights—further enhances their ability to stay on the cutting edge of remote recruiting by tapping into a natural pipeline of job seekers.

If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

Welcome to the Accounting Talent Podcast, dropping every Thursday to accounting professionals, finance specialists, software vendors, tech providers and influencers in the accountancy, CPA and bookkeeping space. To participate in our international virtual speed networking events for the accounting community, go to https://accountinginfluencers.com/events and book your place at the next gathering. Great to build your personal brand and make valuable industry connections.

In this episode of the Accounting Talent Podcast, Rob Brown and Jeff Phillips discuss the importance of effective onboarding practices for new hires in remote or hybrid accounting firms. They emphasize that a strong onboarding process is crucial for reducing employee turnover, increasing engagement, and ensuring long-term success for both the employee and the firm.

The hosts share their insights and strategies for creating a welcoming and seamless onboarding experience, from setting clear expectations to fostering social connections within the team.

Jeff Phillips also shares a personal story that highlights the impact of a poor onboarding experience and how it can lead to disengagement and premature resignation.

The episode provides a comprehensive checklist for accounting firms to implement a successful onboarding system, including assigning buddies or mentors, conducting regular check-ins, and ensuring new hires have clarity on their roles and the necessary resources to succeed.

5 Key Takeaways:

• The main reasons why knowledge workers leave a new employer within the first 100 days are lack of clarity about their job, not having the necessary resources to succeed, and feeling socially disconnected from the team. [00:06:30]
• Firms should consider starting new hires on Fridays rather than Mondays to create a more relaxed and enjoyable onboarding experience. [00:09:45]
• The first meeting with a new hire should focus on the company's vision, how the employee's role fits into that vision, and setting expectations for feedback and communication. [00:11:30]
• Assign a buddy or mentor to the new hire to serve as a guide, confidant, and problem-solver during the first year. [00:17:45]
• Conduct 30-day check-ins with new hires to ensure they have clarity on their job and have the necessary resources to succeed. [00:20:45]

Quotes:

1. "We need to have a system and a philosophy about making sure people get that social interaction that they need, especially if your hire is remote." [00:19:45]
2. "The turnover causes cascading issues inside the firm. A strong start reduces turnover." [00:26:30]

You can watch this episode and more on our YouTube Channel: https://youtu.be/38eDsO0u8B8

Onboarding Checklist from Jeff

Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers

Thanks to our sponsors:

ACCOUNTINGFLY. Accountingfly connects employers with top U.S.-based accounting talent through a variety of services including dedicated searches, Always-On Recruiting, and freelance placements for seasonal or temporary needs. They specialize in remote accounting recruitment, recognizing early on the significant advantages that remote work offers to employers, job-seekers, and their