THE FUTURE OF WORKPLACE

PICPA Annual National Convention – November 25th , 2021

RSM values
Speaker Profile – Jason Yau
• Chartered Global Management Accountant, Fellow
• Certified Public Accountant (US), New York
• Certified Information Technology Professional (US)

• 17 years of professional experience in audit / IT audit, IT consulting

and management consulting

• Worked with HSBC, Citigroup Smith Barney and New York

Mercantile Exchange (NYMEX) prior to joining RSM

• RSM
Jason Yau
FCMA, CGMA, CPA (US), CITP, MSc  Regional Leader, APAC
Regional Leader, APAC  Partner, Technology and Management Consulting
Partner, Consulting
RSM Hong Kong
 Partner-in-charge of IT

jasonyau@rsmhk.com • New York University (NYU)

+852-2508-2820 – Information Systems
– Accounting and Finance
Agenda

1. The Future of Workplace

2. Client – E Professional Services

3. Employee – Hybrid Working Arrangement

4. Industry – Digital Transformation

5. Regulator - Compliance

6. Conclusion and Last Thoughts

Section 1 – The Future of Workplace
FUTURE WORKPLACE Source: MS Mesh
FUTURE WORKPLACE Source: MS Mesh
FUTURE WORKPLACE Source: MS Mesh
FUTURE WORKPLACE Source: Gensler
FUTURE WORKPLACE Source: Siemens
FUTURE WORKPLACE Source: Post*Shift
Workplace - Relationship Map

Client

Management
Regulators Employee
(Practitioner)

Industry
Management – Focus Areas

Brand

Talent Quality

Compliance Profit

Succession
Relationship Map - Expectations
• Price • Brand
• Quality • Salary
• Brand • Career
• Continuity • Learning
• Insights • Flexibility

Clients Employees

Regulators Industry

• Quality • Referrals
• Compliance • Networking
• Security and • Learning
Controls • Collaboration
• Insights • Sharing
Statistics – IFAC Survey - Challenges

IFAC Global Practitioner Survey

70%
59%
60%
50% 48%
50% 45% 46% 45% 44% 46% 42%
39%
40%

30%

20%

10%

0%
Regulations Clients Fees Competition Cash Flow
SMP All

Source: IFAC
Future of Workplace

E-PROFESSIONAL HYBRID WORKING

SERVICES ARRANGEMENT
CLIENT EMPLOYEE

DIGITAL COMPLIANCE
TRANSFORMATION AUTOMATION
INDUSTRY REGULATOR
Practitioner Challenges

Client Employee Regulator Industry

• Low or Fixed • Turnovers • Quality • Digital

Fees • Morale • IT Audit Transformation
• High Quality • Productivity • Data Analytics • Cloud
• Team • Flexibility • Cost-Benefit Adoption
Continuity • Use of • Cybersecurity
• New Entrants Technology
Practitioner Challengers

How do you meet all the stakeholders’

expectations?
Section 2 – Client (E Professional Services)
Statistics – IFAC Survey - Technology

Source: IFAC
Opportunities for E-Professional Services

Digital
Digital
Service
Marketing
Delivery
Digital Marketing

SEO / Website / Chatbot

Social Media

Premium Content

Video Testimonials
Privileged and Confidential
Privileged and Confidential
External Digital Service Offerings

Cloud SaaS – Accounting/ERP/CRM

Data Analytics through Cloud Accounting

Cybersecurity

Automation and Machine Learning

Cloud SaaS – Accounting / ERP / CRM
Data Analytics

Privileged and Confidential

Cybersecurity
Automation
Section 2 – Employee (Hybrid Working Arrangement)
Statistics – Work Trend Survey

The Work Trend Index survey was conducted by an independent research firm, Edelman Data x Intelligence,
among 31,092 full-time employed or self-employed workers across 31 markets between January 12, 2021 to
January 25, 2021.
Statistics – Work Trend Survey

The Work Trend Index survey was conducted by an independent research firm, Edelman Data x Intelligence,
among 31,092 full-time employed or self-employed workers across 31 markets between January 12, 2021 to
January 25, 2021.
Statistics – IFAC Survey - Technology

Source: IFAC
What is Hybrid Working?

‘”Hybrid working is flexible working arrangement

that allows employees to split their time between
attending the workplace and working remotely,
typically from home”
Future of Work- HR Considerations
Future of Work- HR Considerations
Leadership communication
a. Theme - “Planting Hopes”
b. Townhall meeting
c. Quarterly Updates
i. Focusing on
1. Celebrate Wins
2. Growth
3. People
4. Training
5. Global Initiatives
Future of Work- HR Considerations
Staff Club
 Thank you accolades
 Vending Machines
 Monthly birthday reminders
 Friday breakfast “Meet-and-greet”
 Fitness Challenge
 Sports Competition (RSM
Olympics)
 E-Sports Competition
 Holiday / Celebration
– Secretary Appreciation Day
– Staff Appreciation Day
– Managers Appreciation Day
– Partners Appreciation Day
 Team Building Activities
– Art Jamming
– Bowling
– Hiking
– RSM Olympics
– Movie Nights
Section 4 – Industry (Digital Transformation)
Future of Work - Digital Trends for Practitioners

Cybersecurity

Data Privacy

Cloud SaaS

Integration

Predictive Analysis

Machine Learning

Big Data

Blockchain
Internal Digital Transformation

Timesheet System

Office Approval System

Customer Relationship Management

Professional Automation Software

CRM and PSA

CRM – Customer PSA – Professional

Relationship Management Services Automation
• Used by sales and • Manages the delivery of
marketing services
• Manages relationships • Project management
• Opportunity pipeline • Resource management
• History of customer • Time entry
interactions • Billing and expense
• Sales • Revenue – project
accounting
Key KPIs in Professional Services
New
clients
Services Bid-to-
utilization Win ratio

Deal
Change in
pipeline
PS
relative to
revenue
bookings

Key KPIs

Staff Sales
turnover cycle

Project Discounts
margin given
Referenc
e clients
Privileged and Confidential
Privileged and Confidential
Privileged and Confidential
Privileged and Confidential
Section 5 – Regulator (Compliance)
Distance Working Arrangement

Tax HR
• Provision of equipment • Employee engagement
• Payment of • Welfare
allowances/expenses • Performance management
• Permanent establishment • Motivation & Development
• Overseas considerations
Hybrid
Working
Policy

Legal Others
• Employee contract terms • IT security
• Health & Safety • Office space
• Overseas workplace legal
considerations
Employment tax considerations
Expense Policy
• Hybrid working is likely to result in a change to your expense policy

Permanent work place

• Need to consider whether the employee’s permanent workplace will change and the impact on travel claims

Provision of equipment
• Tax relief may be available, but will depend on:
• Whether employer owned and provided; or
• Employee owned and employer reimburses cost
Payment allowances
• Tax relief available in certain circumstances.
• Consider whether a formal homeworking arrangement manual is in place
Impact on benefits in kind
• Will a move to hybrid working impact demand for certain employee benefits
• Cycle to work
• Company cars
• Parking
International considerations
• Need to consider whether an employee is working in a country different to that their home employment contract
• Potential social security, payroll, personal tax and corporate (PE) implications
Other considerations
• National minimum wage compliance?
Section 6 – Conclusion and Last Thoughts
Conclusion and Last Thoughts

Corporate Management Agility to

Resilience Adaptability Disruption

Result-Driven Hybrid Working

Digital Mindset
Services Environment

Regular Caring for

Collaboration
Communication People
Conclusion and Last Thoughts
1. Clients of the Future?
▪ More demanding yet more educated
▪ Reactive to Proactive (Problem solving to problem prevention)
▪ A.I. consultant
▪ Solution marketplace
▪ Immediate results
▪ Transparency with pricing
▪ Multidisciplinary team
2. Digital Transformation no longer an option
3. ITaaS (IT-as-a-service)?
4. Data Analytics – Excel Charts versus Business Intelligence?
5. Value-based fee rather than time-based
6. Digitalized talent acquisition
Conclusion - Future Trends
• Blockchain and Cryptos
Client • Client is doing business globally
• Measurable and quantifiable values
• Hybrid working
Employee • Career exposure
• High-value work
• Increased Competitions
Industry • Convergence of services
• Alliance
• PIE auditors – IT Audit Capabilities
Regulatory • Independence
• Workflow & Controls
International accountancy has always been a
fast-paced, exciting and rewarding industry.
As technical as it may seem, our industry is
also very much a people business.
Jean Stephens
CEO, RSM
THANK YOU