- As the Founder and Managing Partner of Guru & Jana Chartered Accountants, I’ve seen the landscape of CA firms evolve significantly.
- While we’ve made great strides, there are still some key challenges that we face today, which new or growing firms might also encounter.
The Challenge of Attrition
One of the biggest hurdles is attrition.
People move on for various reasons—personal life changes, family obligations, or the pursuit of new opportunities. We can’t stop people from leaving, and nor should we try to. But we can provide a supportive environment and career path that encourages them to stay.
Respecting Different Perspectives
Another challenge is balancing different perspectives within the organization. We must respect each other’s sentiments and acknowledge the varying levels of experience and maturity across the team. This balance is essential to foster a healthy work culture.
Growth and Strategy
Our firm has grown from a smaller team to a more substantial one with around 180 chartered accountants, cost accountants, company secretaries, and other professionals.
To maintain this growth, we prioritize technology and streamline our processes so that we can handle transitions smoothly.
Motivating and Retaining Talent
People often come to our firm for training and then move on, and that’s okay. Our job is to provide them with a solid career path and the opportunity to learn. By focusing on those who want to stay with us, we’re able to build a core team that can lead the firm forward.
Possibility of Mergers
Merging with other firms is a potential avenue for expansion, but it’s important to approach mergers thoughtfully. The key is to ensure cultural alignment and shared values, rather than focusing solely on financial growth. Merging firms is about merging cultures, and that’s a delicate process.
Closing Thoughts
We’re proud of our journey so far and excited for the future. The profession is thriving in India, and we have the potential to make a significant impact. As we continue to grow, we’ll remain true to our values and focus on building meaningful relationships with our clients and team members.
By respecting people’s choices, providing them with opportunities for growth, and focusing on a shared vision, we can overcome the challenges and keep moving forward.
Video edited by: Lakshay Gupta and Thumbnail created by: Harmanjit Sahota
