Blog posts are like buses sometimes, wait for a while and then two come along at the same time. This one is posted the same day as the GRF is killing the profession.
At the time of writing this I just connected with an Australian Accountant over LinkedIn, he kindly sent me some information about a report by the Law Society of Western Australia.
The report reveals that 21% of the state's lawyers are being bullied. The Equal Opportunities Committee added “billable hour targets diminishes qualities such as innovation and creativity and makes the number of hours billed the key assessment of a lawyer's success. Consequently lawyers are forced to work long hours, alienating them from their family and the community because the number of hours billed is the key assessment of a lawyer's success”.
The committee believes that billable targets are a "tool" for bullying and the issue of depression and psychological distress cannot be properly addressed unless action is taken on the billing model. The report found that 30% are bullied on a weekly basis and 85% say bullying happens verbally.
The report also found that some of those who were bullied went on to attempt suicide, were diagnosed with clinical depression, suffered anxiety attacks and hair loss, hated their jobs and wanted to quit.
Another issue that contributed to mental health problems for young lawyers was the "crippling" lack of control they had over their work. It is reported that some lawyers do not know when they will finish work on a daily basis or if they will have to work the weekend which meant lawyers were forced to miss social events.
I have said that time billing makes most accountants unconsciously unethical from the client’s perspective but what about from the employee's point of view? Could having chargeable hour targets make employers bullies?
It would be great to see a lawyer or an Accountant bring a court case on this. But, if you are a sole-trader with no employees you can make a change. Stop beating yourself up and change your business model. Start charging for results and access/use of your knowledge.
Towards the end of 2010 I had the idea of putting together what I call an “open report” with contributions from leading thinkers, advisers and consultants to the accounting profession.
The reason for doing this was because I believe the profession is fast approaching a tipping point. Accountants need to fundamentally change their approach to running and developing a practice or face major pressure over the coming years.
Rather than bang the drum alone I thought it would be interesting to see what others had to say. So, I called and emailed a few people I have come across over the years and asked them if they would contribute to a report called GRF is killing the profession.
I am please to say that everyone agreed so you can now download and read what nine leading consultants, advisers and thought leaders really think about the future of the profession.
If you are wondering what all the fuss is about have a look at this firm's value proposition; £59.50 a month for a Limited Company including free online bookkeeping software.
Are they serious? Well, in October 2010 they announced a second round of investment that valued them at £4M and they seem intent on growing their market share and scaling. Could you be their victim?
To download the report click here.