According to a new study, two-thirds of accounting firm leaders reported a drop in staff productivity during the coronavirus pandemic, but they’re still committed to allowing employees to work from home even after they reopen their offices. Accountants at firms of all sizes across the U.S., as well as leaders from a range of financial services and professional services companies,  were included in this survey. 

Major Findings of the Survey:

Just under a third of large accounting firms reported plans to downsize their office space in the aftermath of the pandemic. Over two-thirds of respondents felt “very positive” about their firm’s response to the pandemic. Regardless of firm size, two-thirds of leaders at practices reported that the greater number of employees working from home had led to a decrease in productivity. Overall, 82 percent of accounting firms were “very” or “somewhat” likely to allow employees to work remotely even after the pandemic, compared to 73 percent of businesses in the broader survey.

Note from Ferrone & Associates CPAs

Like many other firms across the country, Ferrone and Associates CPAs has also made the decision to permanently change our work environment to a hybrid in-person and remote situation.  Luckily, we were already prepared when the decision to work remotely was made.  We have continually been investing in new technology out of curiosity and in search of benefits for increased functionality and flexibility. Although the decrease in in-person communication has required some adjustments, we are proud of our preparedness and adaptability. 

As we enter a new era, we will now have a presence in an executive office suite.  Our contact information will remain the same, with the exception of our address which is now 3001 South 700 East, Suite 500, Salt Lake City, UT 84107.