Succession Planning Adding Up at Accounting Firm
Planning for the future of his company has never been so important to Anthony Fielding.
Fielding, the Senior Partner of Bluenose Accounting, launched his firm in Nova Scotia nearly two decades ago. Today, his team has grown to 15 employees in two locations, and Fielding is already thinking ahead about who might take over when he’s ready to retire.
“I need to know that we have professional and skilled people that can become responsible successors one day,” says Fielding.
“That’s why I was confident hiring Kayla Brown, a recent grad who possesses not only the research skills and logic required for the job, but a level of thoroughness and energy that puts her on track to be a firm Partner in about five years.”
Kayla graduated from Saint Mary’s University in 2018 with a degree in finance and accounting. “It was so gratifying to walk into full-time work as an accountant, right out of university,” she says.
“Originally, we hired Kayla part-time during a very busy tax season,” says Fielding. “But we quickly realized her potential and offered her full-time work when she graduated. The Graduate to Opportunity program made that possible for us.”
Graduate to Opportunity (GTO), lowers the cost of hiring a recent graduate for start-ups, small businesses of under 100 full-time employees, non-profits and social enterprises.
Employers receive 25% of a grad’s first year salary (35% if the grad is from a recognized diverse group) and 12.5% of a grad’s second year salary from the province.
“Kayla recently passed her Common Final Exam required to become a CPA, and the extra funding helps us cover the cost of her training,” says Fielding. “I encourage any small business owner to look into this program because you will truly save on overhead costs.”
And the employer isn’t the only one benefiting.
“Working for a smaller business allows me to use my skills in numerous areas that I likely wouldn’t get my hands on in a larger firm,” says Brown. “I am bringing new knowledge to the business and continuing to learn. It is so rewarding to be challenged and trusted like this.”
“In our industry accountants are in demand,” adds Fielding. “The edge to be able to pay a higher wage and retain an accountant is key and GTO helps make this possible.”
To date, more than 600 organizations, like Bluenose Accounting, have hired more than 1,000 recent graduates across Nova Scotia using GTO funding.
The process for a business to save money on a hire is quick and easy — applications are typically turned around within five business days. Learn more at here.
