Federal agencies got on a roll last week by announcing three new regulations that will change how businesses deal with protecting proprietary information, handling overtime and the classifying of exempt and non-exempt employees, and the use of broadband services. Gene Marks shares some thoughts on each of these pocketbook issues and how businesses might approach prior to the rules going into effect.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Jennifer Cryder, CEO of the Pennsylvania Institute of CPAs (PICPA), spells out some of the challenges facing CPAs and their firms, largely around hot having clients understand the value of a CPA’s advisory role and sometimes a CPA not grasping the idea that they are advisers. The accounting profession, like almost all industry sectors, faces issues with recruiting and retaining talent. Cryder’s conversation with Gene Marks on Paychex THRIVE, a Business Podcast, sheds some light on how her state association is addressing issues of modernization through AI, professional development, and rethinking the business model firms have used for decades.

Topics Include:

00:00:00: Episode Preview

00:00:54: Introduction of Jennifer Cryder

00:02:12: Challenges facing CPA profession

00:03:24: Examples of challenges, including talent acquisition

00:04:43: Future of CPA firms and the advisory role

00:10:11: What’s happened to the small, local firms?

00:13:26: The value a CPA can offer

00:16:35: Recruiting challenges in the CPA profession

00:19:18: Initiatives For Retaining Good Talent

00:23:09: Metrics and job evaluation

00:27:18: Advice on collaboration with CPAs

00:30:57: Wrap-up and thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Quickly evolving technology such as artificial intelligence coupled with changing labor dynamics have altered the workplace. Labor economist and MIT professor David Autor delve into these two critical areas in his conversation with Gene Marks on Paychex THRIVE, a Business Podcast, to help the audience understand the shifting trends impacting businesses. They also discuss strategies around integrating AI-driven insights with human expertise.

Topics Include: 00:00: Episode Preview

00:01:01: Introduction of David Autor

00:01:40: Autor’s background

00:03:32: Discussion on industry dynamics

00:03:51: Impacts of AI on labor markets

00:08:33: AI and decision making in various industries

00:09:37: AI and skills re-evaluation

00:11:19: Skills needed for future with AI

00:15:19: AI's current potential

00:17:16: Long-term impact on labor markets

00:18:17: Discussion on potential disruptions of future technology

00:23:16: Discussion on minimum wage debate

00:29:45: Current state of workforce after pandemic

00:33:24: Wrap-up and thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.