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Your Ultimate Guide to Group CPE

For any accounting firm, it has become imperative to ensure that its CPAs keep abreast of the latest industry standards and guidelines. Failure to do this is synonymous with not being able to stay relevant in the ever-evolving world of accounting, which ultimately leads to a negative reputation and lost opportunities to generate revenue.

As an accounting firm owner, you’re certainly aware of the fact that pursuing CPE is equally important to staying current with the latest industry rules and regulations and complying with the CPE requirements of the state board of accountancy.

If you want to make sure that all CPAs in your firm stay CPE compliant without experiencing a large financial burden, it’s best to opt for group CPE. With the help of online group CPE, not only can you enable your team members to deliver top-notch services but you can also maintain a moderate CPE budget.

However, as the concept of group CPE is new to many accounting firm owners, it’s best to get a detailed comprehension of this method to make the most out of your investment. To help you out, we’ve created this page that answers all your questions related to getting CPE for your firm efficiently.

Let’s start with the basics.

What Is Group CPE?

Simply put, group CPE stands for the method that lets you buy CPE for your group at discounted rates. When you purchase online CPE for a group, CPE sponsors generally offer considerable discounts.

However, it’s vital to understand that while group CPE helps you develop a comprehensive CPE strategy for your firm, its effectiveness considerably depends on how well you can execute it. If you look for group CPE programs online, you get a wide variety of related results.

Here, the key to success is choosing programs that not only offer group CPE credits for accountants but also help your team members gain the knowledge and skills necessary to reach your firm’s goals.

If you’re wondering how you can develop an effective CPE strategy with the help of online group CPE, just continue reading as we’ll discuss this in detail in another section.

Why Should You Choose Online Group CPE?

Opting for group CPE for your firm comes with several crucial benefits, especially in terms of providing your employees with a rewarding learning experience. Here, our experts have jotted down two key benefits of group self-study CPE for CPAs.

  • It helps build a perfect environment for mutual learning

No matter how you look at it, pursuing CPE continuously throughout the CPE reporting period isn’t an easy task. A lot of CPAs find it very difficult to stick to a regular study schedule. By choosing group CPE for CPAs, you can help your employees get rid of this issue altogether.

Group Continuing Professional Education allows all the learners to share their experiences and approaches with each other. Not only does this help them gain new perspectives but it also helps them stay motivated by interacting with other learners. As a result, they become able to put more effort into the learning process.

  • It prepares them for real-life situations

Irrespective of the specific option you choose for group CPE, it generally leads to group discussions at some stage in the learning process. The exchange of ideas and thoughts with each other helps learners get a solid comprehension of how the new skills and knowledge can be applied to real-life situations.

Apart from getting prepared for practical situations, they gain confidence to use the newly learned concepts in a variety of contexts. This, in turn, helps them carry out new or complex responsibilities efficiently.

CPE For Your Firm: The Way It Benefits You

Needless to say, when it comes to online group Continuing Professional Education, the investment generally turns out to be a substantial one. For many accounting firm owners, the cost of wholesale CPE deters them from choosing group CPE.

If you too belong to this group, just read this section carefully and you’ll understand that the benefits of company CPE far outweigh the cost of bulk CPE.

  • It helps your firm stay current with the changes in the industry

Considering the rapid advancements in the field of accounting, it has become more important than ever to ensure that your firm doesn’t fall behind. Fortunately, with group CPE programs online, it’s possible to make sure that your firm’s work reflects present best practices in the industry.

Not only does online group CPE help your team members stay ahead of the competition but it also helps your firm remain adaptable to frequent changes in the field. Equipped with the latest knowledge and skills, your employees can excel in their present roles and prepare themselves for taking on new responsibilities.

  • It helps you retain your employees

Today’s employees have a new mindset. They’re sacrificing time with family members and friends, putting in long hours, and they want to know whether you provide them with professional development opportunities. Nothing can make them feel more valued than opportunities to elevate their knowledge and learn new skills.

By purchasing CPE for your firm, you can easily go beyond conventional compensation plans and incentives. Opportunities for professional development greatly increase loyalty and job satisfaction, which essentially leads to a positive employee experience and high employee retention.

  • It helps you attract new talents easily

It’s a fact that no CPA wants to join a company with a high employee turnover rate. When you buy CPE for your group and give the team members incredible opportunities to elevate their professional competence, it greatly helps lower your employee turnover rate.

This helps establish your firm’s employee-centric approach, which in turn, encourages the top talents in the field to join it.

  • It makes it easier to train your people than ever before

With group CPE, you get access to multiple learning methods, from online group CPE webinars to group self-study CPE for CPAs. With the emergence of group CPE programs online, it has become easier than ever to train your team members irrespective of your physical location.

CPAs typically have hectic work schedules and hence, they look for flexible options to fulfill their CPE requirements and improve their professional competence. And when it comes to accessibility and flexibility, there’s nothing that can beat online group Continuing Professional Education.

  • It provides all your team members with practical takeaways simultaneously

Before the emergence of group CPE, it has always been difficult to ensure that all your team members progress at the same pace and acquire new skills within somewhat similar time frames. However, when you choose online CPE for a group, you can effortlessly monitor the progress of each team member.

Since CPE programs offered by leading sponsors typically provide practical takeaways, online group CPE makes it easy for your entire team to progress simultaneously. As a result, when it comes to handling major or complex assignments, all your team members can work in tandem with each other, ensuring the best possible services.

Getting The Most Out of CPE For Your Group

Many accounting firms fail to reap the benefits offered by group CPE mainly because of the absence of a comprehensive CPE strategy. With such a strategy in place, not only can you train and retain your team members effectively but you can also leverage your firm’s strength to gain a competitive edge.

In this section, we’ll discuss all the key factors that form an effective CPE strategy encompassing group CPE for CPAs.

  • Identify your firm’s future goals

When it comes to selecting CPE for your firm, you get multiple options as long as you join hands with a leading company CPE sponsor. The ability to take your pick from multiple options typically means you can buy a group CPE package that can meet most of your requirements if not all.

In the context of CPE, choosing the right courses is of paramount importance. If you want your team members to take useful courses, then it becomes extremely important to choose the ones that cover the skills you need to grow your firm.

Therefore, before anything else, you need to identify your firm’s future goals. They can include diversification of your services, just a couple of services that you primarily want to offer to your clients down the road, or any other thing that aligns with your firm’s strategy and vision.

  • Place equal importance on both your firm’s and employees’ preferences

Since individual accountants pursue CPE, you cannot overlook their needs and preferences. At the same time, however, it’s equally important to consider your firm’s long-term needs. You can easily make the most out of CPE for your firm by striking a balance between them.

When planning for CPE for your group, you should think about your firm’s present core competencies that it needs to maintain and the ones that need to be developed to outperform your competitors in the long run.

  • Involve your team members in the planning process

You may never be able to use the full potential of online group CPE unless you have the inputs of your team members. Therefore, be sure to involve all your team members, who are eligible for group CPE credits for accountants, when making the final decision regarding bulk CPE.

  • Incorporate your CPE strategy into your performance review process

This is among the highly effective methods to ensure that your team members get the benefits offered by group Continuing Professional Education. When your performance review process includes your CPE strategy, it helps your team members comprehend the value of successful and timely completion of CPE courses.

This move encourages all your employees to complete group CPE on time while helping you get a great return on investment.

Choosing The Best Sponsor for Online CPE For a Group

You’ve to invest a considerable amount of money to opt for CPE for your firm. So, it’s of utmost importance to join the best group CPE for CPAs sponsor to make sure that the programs provide your team members with value.

To decide on the right sponsor, you may want to consider the following things.

  • Join a provider with years of industry experience

It’s strongly advisable to join a wholesale CPE sponsor that has been in the industry for many years. Even if you need to pay slightly more to buy its online group CPE package, you should go with it. The reason is that new CPE sponsors sometimes fail to offer programs that match industry standards.

It may also be the case that many of its courses are authored by individuals who left the workforce years ago. In either situation, the programs offered through its online group Continuing Professional Education may not help your employees much in elevating their professional competence.

  • Partner with a sponsor that offers quality courses at reasonable prices

If you search for group CPE programs online, you can easily see that the costs of these programs vary widely depending on their sponsors. Some providers have really expensive group CPE programs while some offer them at reasonable price points.

Unless you want to have bells and whistles, it’s strongly advisable to select one from the latter group of sponsors. This will help you provide your team members with the professional development opportunities they need within a moderate budget.

  • Choose a provider with an extensive course library

As part of their CPE requirements, your employees must complete a variety of CPE courses throughout their CPE reporting periods. Therefore, if you partner with a provider that only offers a few courses as part of its group CPE for CPAs, you may not be able to give your employees the development opportunities they need.

On the contrary, when they get to pursue online group CPE from a provider that offers a variety of programs under these packages, it becomes easy for them to meet their specific needs efficiently.

Wrapping Up

Hopefully, this page has provided you with all the vital pieces of information about group CPE. If you want to know how the team at CPEThink.com can help you meet all your online group CPE needs, feel free to contact us.

 

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