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The Boomer Bulletin - 2013
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The Power of Culture

Posted By Sue Thiemann, Tuesday, March 12, 2013

Every organization has a culture, but not every organization capitalizes on its culture for the benefit of the firm and its employees.  A successful firm culture is the ultimate environment for maintaining the highest levels of team member satisfaction, customer service and loyalty, and firm profitability.  All of these elements differentiate and distinguish a firm from its competitors. Firm culture can be the competitive advantage a CPA firm has over other practices. However, some leaders view a positive work culture as a nicety rather than a necessity.  

What is the one thing that CPA firms and CEOs are most interested in – profitability!  If you think about it, a positive firm culture is one of the most powerful ways to improve profitability and keep your profits returning for years to come. Studies have shown that companies with strong cultures outperform their competitors by 7–12 times1.  Furthermore, competitors can duplicate services, pricing, technology and even quality, but they cannot duplicate culture. From a business point of view, culture is critical both from within the firm and outside the firm.

From an employee’s perspective, firm culture makes the difference in achieving personal satisfaction, health and productivity. Put simply, culture is how things get done. It is the day-to-day experience of how employees feel they can behave or act while at work, and how they are treated by co-workers and the management within the firm. A supportive, respectful and trustworthy culture, with open communication, can create a healthy environment and healthy people. It is a culture that inspires growth and success for everyone.

In our company, for example, our team expects certain behaviors, such as a positive attitude, exceptional customer care and innovation. The company core values as established by the team are:

  • Trusted relationships
  • Integrity
  • Innovation
  • Development and growth
  • Respect and teamwork
  • Accountability

As a team, we look forward to coming to work each day and feel like we are making a difference in people’s lives. We feel appreciated and are recognized for a job well done. Our culture supports these attitudes and desires. 

Our culture began with the founder and CEO, L. Gary Boomer and has been carried on and encouraged through the company Shareholders, Sandra Wiley and Jim Boomer. Recently Gary Boomer was inducted into the Accounting Hall of Fame at the 2013 CPA Practice Advisor Thought Leader Symposium.  A quote in the announcement stated, "One of Gary’s chief accomplishments, according to his son Jim, is that he set out to build something larger than himself. He’s really proud that he has created something beyond Gary Boomer,” Jim, also a CPA, said. "He set out to build a team that would grow and continue to help professional accounting firms, into the future."

Specifically what has Gary Boomer done to accomplish something that is larger than himself?

Here are quotes from the Boomer Consulting, Inc. team:

"Gary has created a culture of learning – both from the outside and from each other.” 

"He sees the unique abilities in others and encourages those talents.”

"He finds joy in seeing others on the team succeed.”

"Always leading and is always learning.”

"Not just concerned about his personal success but the success of everyone in the company.”

"Gary’s success can be traced back to the following: 

  • He treats everyone with respect.  
  • Gary wants everyone to be successful.  He shares all he knows so that others can benefit.
  • He is loyal."

"Everyone brings something unique to the table and it adds up to success.”

"I’ve always been impressed by Gary’s willingness to share information and seek consensus on company goals.  The result is buy-in and ownership – both are very effective for motivation.”

"I’m a fan of his interest in new ideas and technologies.”

"Gary continues to uncover the path others should take to be better than they are.  He’s patient, insightful and most of all, believes that the industry and the people inside it can grow and be better than they are.  This holds true to Boomer Consulting, Inc. as well, we are all encouraged to find not only a job, but the job for us.”

"Not just concerned about his personal success but the success of everyone in the company.”"He strives to enhance the capabilities, skills and aspirations of the Boomer Consulting, Inc. members and our clients.”

Do these comments give you any direction on how to improve your firm culture?

A successful firm culture is the ultimate environment for maintaining the highest levels of team member satisfaction, customer service and loyalty, and firm profitability.  Culture is critical both from within the firm and outside the firm. Firm culture makes the difference in achieving personal satisfaction, health and productivity.


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