'Kaizen': Transformation and Innovation
By Ken John Asadon
KAIZEN is a Japanese term meaning "continuous improvement." A Japanese business philosophy regarding
continuously improving all functions and involving all employees. As professionals, we always encounter
changes every now and then. A Greek philosopher once said, "There is no permanent except change."
Time transforms everything and things around us are all changing, may it be technology, or our life.
We must accept the change that time brings because it comes with opportunities. Just like seasons,
the accounting profession is very dynamic. Business trends, professional qualifications, laws and
regulations are only a few of many changes that we are dealing with. For us to stay current and
updated with the latest developments, skills, technological innovations and laws and regulations
required for our field, continuous education is essential. Providing continuous learning is the
most effective tool for sustaining business growth in this fast-changing business world.
Continuous learning is the concept of constant skill and knowledge development in response to changes
in the workplace. We as accountants require continuous education in order for us to provide timely
business advice to the public. Not only to mention the compliance with the Certificate of Professional
Development required to licensed professionals. Continuous education is also an important factor to
ensure that employees and professionals' knowledge stays relevant and up to date. In this global and
more competitive market, employers must invest in the continuing education of their employees. This
will not only benefit the employees but their businesses as well. The following will show you how
valuable implementing continuous learning is for your business.
Increased productivity and efficiency
Continuous learning is a win-win for both employees and companies. It allows employees to become more
productive and efficient and helps the company build a highly skilled and engaged workforce. More work
can be done in less time the more a person becomes skilled at their job. Providing pieces of training,
mentoring, or sharing knowledge, give employees a better understanding of their role and responsibilities.
Better understanding and more knowledge help employees work more productively, easier to finish a task
or job, respond to customer needs and marketplace demands more quickly and effectively.
Competitive edge in the market
Having a competent, skilled and experienced employees in this rapidly changing industry will help the
company stay ahead of the competitors. The growth of employees follows the growth of the business.
Knowing employees' strengths and helping them develop those is one of the major factors of business
growth. The way employees interact and engage with clients greatly influences client's impression and
loyalty, which could affect the business competence in the market. Clients engage with us because they
believe in our competence.
Higher return on investment
Investing in employees is one of the key factors of a successful business. Employees are considered human
capital. Human capital is an intangible asset that includes all the competencies of people within an
organization. Investing in human capital requires cost for pieces of training, seminars and continuous
education programs. However, this investment can be recouped through improved employee work performance,
productivity and growth in income.
Employee retention
Employee retention is a critical issue for businesses. Promoting continuous learning and providing a clear
path to greater compensation and responsibility helps employees feel that they are valued and a vital part
of the company's success. Professional development and career growth opportunities greatly influence an
employee's decision of whether to stay or leave their job. Investing in employees' continuing education
and providing professional development programs is an effective way to improve employee retention, especially
in today's generation, where most employees shift from one employer to another. This will also help reduce
expenses caused by employee turnover.
Identify future leaders
Training and continuous learning help employers identify future leaders. Employees who are interested in
improving their skills and knowledge are often the perfect candidate for a future leader in the company.
When an employer feels like employees have the potential and fall for management material category, providing
leadership development programs will help groom the future leaders of the organization.
Continuous learning undoubtedly is very beneficial in many ways. It is important for career satisfaction and
boosts accountants' confidence. Well-trained and well-educated employees help companies to attain long-term
viability and success. Like life, business is also an incessant process of learning. Learn how to deal with
rapid changes and develop the employees' career growth. Expand the horizon. Invest in the employees' knowledge.
Benjamin Franklin once said, "An investment in knowledge always pays the best."
Lastly, special thanks to all the seminar providers, guest speakers, organizers, coordinators and the people
behind every webinar and training during this pandemic. This is to give my heartfelt appreciation to all of
you, especially to the officers of Association of CPAs in Public Practice (Acpapp) for providing the continuous
learnings to each and every accountant/professional. Truly it is an honor to see professionals work hand in
hand in order to achieve two goals: transformation and Innovation.
Ken John B. Asadon, CPA, CTT, is the tax partner of Paguio, Dumayas & Associates, CPAs (PrimeGlobal Philippines),
an institutional member of the Association of CPAs in Public Practice (Acpapp). The opinion of the writer does not
reflect in any way the opinion of PDAC. This Article was published in the newspaper Manila Times under ACPAPP Corner on Dec. 22, 2021.
Source: 'Kaizen': Transformation and Innovation - Manila Times