Firm of the Future

Diversity and inclusion in finance aren’t new concepts. It’s long been a top priority for leaders in our profession, and in this year of uncertainty, we need new ideas and diversity of thought to re-imagine the path forward. The tragic events of 2020 have revealed the disparities that were hidden in plain sight — workplaces included. These events have challenged us to recognize that a checklist approach to diversity is not enough to achieve meaningful change.

Hartford Business Journal's 2021 Book of Lists includes an economic forecast section containing outlooks for the year ahead from various economists and industry experts. Here’s a look at what they had to say.

When the coronavirus pandemic started shutting down offices in mid-March, Chicago-based Top Five firm RSM US was quick to transition to remote working — while also planning other ways to more broadly support its people through the pandemic. The firm began rolling out employee benefits in a range of areas, explained Katie Lamkin, RSM’s chief human resources officer. “We summarize it as caring for colleagues in a changing world,” she said. “The benefits focus on several categories. We looked at it through the lens of the employee life cycle — things to do in the short term because of COVID, quick decisions; and long term — keeping people safe and giving them the best possible experience, helping them continue to focus on the future.”

The U.S. Department of Labor issued a final rule Wednesday to clarify the standard for determining whether a worker should be considered an employee or an independent contractor. The rule is one of many contentious regulations that the Trump administration has been rushing to finalize in its waning days and is likely to have an impact on labor relations, pay scales and benefits for workers. It also has an impact on the taxes they pay and whether taxes need to be withheld from their paychecks or simply reported on a Form 1099 and sent to them before Jan. 31. More companies in recent decades have been classifying their workers as independent contractors as opposed to full-time employees to save on salaries and benefits, and that trend has only accelerated in recent years with the growth of the gig economy.

Regulators in several countries approved vaccines, and immunisation against the coronavirus started in December. The vaccines have shown to be highly effective in clinical trials, but the pandemic is not expected to subside for several months. To plan for pandemic uncertainty and risks in 2021, speakers at the Controllers Council roundtable suggested to...

Thanks to COVID-19, in-person meetings are a thing of the past, at least for a while. The same goes for chatting with coworkers in the break room. This lack of personal contact creates difficulty for new employees, who are looking to make connections and find their footing. In his first article for AccountingWEB, Joe Cihak discusses a few ways to more effectively onboard new people and help new hires feel more comfortable.