Reviewing Employee and Professional Service Compensation

Often accountants, CPAs, lawyers and other professional service organizations charge fees that were historically fair but are, today, beyond the norm. Without jeopardizing relationships, we engage as a third-party to review the services rendered and negotiate lower, mutually beneficial fees.

As labor is the predominant cost component for most service organizations, we’ll review staffing models and compensation levels based upon industry best practices. We often recommend incentive-based compensation that drives productivity, enhances employee morale and decreases costs. We also review employee benefit programs to identify additional cost saving, but still feature-rich plans.

While these annual savings vary by firm, we typically save business owners anywhere between $20,000 to $50,000 per year—depending upon the nature and size of the organization.

Over a 15-year period, annual savings of $20,000 produces $300,000 that can be applied to your retirement fund. And when invested at five percentage points above inflation, this amount will grow to $502,000.