Page 24 - BusinessWest May 15, 2023
P. 24

 Partners Kristi Reale and Jim Krupienski, seen here in MBK’s Founders Room, say the firm has priorities for the future, but especially the need to develop the next generation of leadership.
MBK
from IT conversions to client services and client development.
Staffing is certainly a common agen- da item, and there are layers to this issue, said those we spoke with, add- ing that these include everything from attracting and retaining talent to creat- ing policies for remote work.
“A major issue with all businesses, and especially accounting firms, over the past few years has been staffing — staff costs, recruiting staff, and main- taining staff have all been significant concerns within this industry,” said D’Agostino, adding that there are some issues unique to the accounting sector, such as the compression of work dur- ing tax season and a reluctance on the part of many younger workers to “want to work the kinds of hours the previous generations have.”
“So we need to adapt to that,” he said, adding quickly that this is one of the many reasons why firms need to embrace technology — especially the technology that can handle some of the more mundane accounting tasks and thus enable professionals in the indus- try to focus more on consulting and advising clients.
“A lot of the bigger firms are embrac- ing artificial intelligence,” said Reale. “We’re not there yet, but we should look at it and determine if there is anything that AI can help us with.”
Elaborating, she said that, while there is concern in some sectors about AI and its potential for eliminating jobs by doing work that humans can do (see related story on page 32), forward-look- ing accounting firms need to focus on its potential to create efficiencies and free up professionals to serve clients in different ways.
“AI is not going to be able to have meaningful discussions with a cli-
ent and help grow its business,” she explained, adding that, increasingly, clients are looking for such consulting services — everything from contracts to mergers and acquisitions — from their accounting firm.
To provide these services effectively, firms need a pipeline of talent, said
the partners we spoke with, adding that maintaining such a pipeline has become more difficult in recent years, and for a number of reasons, some of them amplified by the pandemic.
Indeed, Krupienski noted that, years ago, local and regional firms might have had a leg up when it came to the graduates of local colleges and their accounting programs, but now, those same individuals are fielding offers from firms on the other side of the country offering remote work opportu- nities at wages higher than those tradi- tionally offered in Western Mass.
And that’s one of many challenges this firm and others in the region face as they try to recruit and maintain tal-
MBKContinued on page 26 >> BusinessWest
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ultimately more productive — people are tired and less effective at the end of the second day of a retreat, they noted — and follow-up and accountability are more manageable. Meanwhile, change is coming at such a constant and pro- found rate that more frequent strategy meetings with shorter agendas are cer- tainly necessary.
“We’re maintaining the momentum and holding ourselves more account- able,” said Krupienski, adding that items for discussion include everything from staffing to succession planning;
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     24 MAY 15, 2023
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