People Before Profits — How to Put Your Team Before Anyone Else in Your Business and Why it Matters
by Sarah Krom, CPA, MST, SKC & Co. CPAs, LLC and Andrew Donofrio, Andrew Donofrio LLC –
March 25, 2025
In today’s business world, it’s easy to get bogged down with chasing profits, hitting sales targets and analyzing financial metrics. Yet, the key to long-term success may have less to do with profit margins and more to do with how you treat your people. Businesses that prioritize their team over profits often see better results in the long run. Putting your team first leads to a more engaged, loyal and productive workforce, which in turn drives greater success and sustainable growth.
The Business Case for People Before Profits
- Employee engagement drives performance: A motivated and engaged workforce is a major contributor to a company s success. When employees feel valued, they are more likely to take ownership of their work, collaborate effectively and go the extra mile. On the flip side, disengaged employees can lead to lower productivity, higher turnover and a negative work environment.
- Stronger company culture: A company’s culture is the foundation for how employees interact and solve problems. When leaders prioritize people, they create an environment where trust, transparency and collaboration thrive. Companies with strong cultures attract top talent, retain employees and foster innovation. Employees who feel respected and appreciated are more likely to stay with the company, contributing to stability and growth.
- Improved customer experience: Happy employees create happy clients and customers. When employees feel supported, they are more likely to go above and beyond for customers and be ambassadors of the company’s values. Positive employee experiences often translate to better customer service, higher satisfaction and stronger customer loyalty/
- Innovation and creativity: A culture that values employees fosters creativity. When employees feel empowered, they are more likely to contribute innovative ideas. Encouraging feedback, providing growth opportunities and celebrating diverse perspectives can spark breakthroughs. Companies that prioritize their team s development are better positioned to adapt and innovate.
- Long-term sustainability: Businesses that focus on people-first strategies build loyalty and trust. When employees feel a sense of belonging and purpose, they are more likely to stay. A stable, long-term workforce creates resilience, helping companies weather changes and challenges. In contrast, businesses that focus solely on short-term profits typically experience high turnover and employee burnout.
How to Put Your Team First
- Lead with empathy: Empathetic leadership cultivates trust and communication. By listening to your employees, understanding their challenges and showing you care, you create a supportive environment. Regular check-ins and transparent decision-making demonstrate your commitment to your team’s well-being.
- Invest in employee development: Putting your team first means offering opportunities for and investing in their growth. Providing training, mentorship, coaching and clear career paths shows your commitment to their success. When employees see their personal growth as a priority, they feel more connected to the organization.
- Recognize and reward efforts: Recognition is a powerful motivator. Public acknowledgment, small gestures of appreciation and performance-based rewards all help to build a positive culture. Employees who feel valued are more likely to continue giving their best.
- Foster a healthy work environment: A supportive work environment pro motes mental health, work-life balance and collaboration. Encouraging flexible work arrangements and providing stress-management resources, such as a therapist or coach on retainer, can boost employee morale and productivity.
- Share the success: Profit-sharing or performance-based bonuses align employee success with company success. When employees know their hard work contributes to profitability and that they will be rewarded, they feel more invested in the organization s future. Be transparent with the team by cultivating a culture that supports a company-wide vision and provides clarity both now and for the future.
Prioritizing your team over profits may seem unconventional, but it is a strategy that pays off. A business that invests in its employees builds stronger cultures, better client experiences and more innovative products and services. By leading with empathy, investing in development, recognizing effort and fostering a healthy work environment, organizations can create a motivated, engaged workforce committed to the company s success. In the end, businesses that put people first thrive not just in profits, but in loyalty, innovation and sustainability.
 | Andrew DonofrioAndrew Donofrio is a personal and professional development coach at Andrew Donofrio LLC. |
 | Sarah KromSarah Krom, CPA, is the managing partner at SKC and Co. CPAs L.L.C. and a past president of the NJCPA. She serves on the NJCPA Education Foundation Executive Committee and the Nominating Committee. More content by Sarah Krom: |
This article appeared in the Spring 2025 issue of New Jersey CPA magazine. Read the full issue.
PAGE HEADING
-
Posted: May 1, 2025
Source: National Association of State Boards of Accountancy
-
Posted: Apr 30, 2025
Source: Journal of Accountancy
-
-
Posted: Apr 30, 2025
Source: POLITICO
-
Posted: Apr 30, 2025
Source: Financial Accounting Standards Board
-
Posted: Apr 29, 2025
Source: New Jersey Department of Labor & Workforce Development
-
-
Posted: Apr 28, 2025
Source: AICPA & CIMA
-
Posted: Apr 25, 2025
The NJCPA Scholarship Fund has awarded $168,000 in scholarships to 38 New Jersey high school seniors entering college and current college students.
-
-
Posted: Apr 24, 2025
Source: CFO Dive
-
Posted: Apr 22, 2025
CPAs can assist their clients with creating collaborative divorces and avoiding so-called "messy divorces." Better valuations, such as using the income approach, the market approach and asset approaches can help.
-
Posted: Apr 22, 2025
Source: New Jersey Economic Development Authority
-
-
Posted: Apr 22, 2025
Source: Think Advisor
-
Posted: Apr 21, 2025
Forensic accounting plays a vital role in divorce proceedings. By uncovering hidden assets, accurately valuing properties, tracing income and expenses, and providing expert testimony, forensic accountants help achieve transparency and fairness in financial settlements.
-
Posted: Apr 21, 2025
Source: PCAOB
-
-
Posted: Apr 21, 2025
Source: New Jersey Economic Development Authority
-
Posted: Apr 18, 2025
Source: Gene Marks, CPA
CPACharge
CPACharge was developed specifically for CPAs, enrolled agents and accountants, providing a simple, affordable online payment solution that allows you to securely accept credit, debit, and eCheck/ACH payments from anywhere.
On-Site Training
NJCPA on-site training programs offer the same outstanding content
and expert instruction as our seminars but are led at your location.
Join the Accounting Educators Community
Connect and share with other accounting educators about curriculum, trends and the profession. Learn about NJCPA initiatives that are valuable for your students including information on obtaining the CPA designation, student membership, scholarships, volunteer opportunities and events.
Guaranteed Rate/Marc Demetriou
Marc Demetriou of Guaranteed Rate is offering NJCPA members a “no lender fee mortgage” ($1,440 lender fee credit), competitive low rates and a dedicated team to deliver world class service.
Join the Women's Leadership Forum
Join our online forum that enables female CPAs at all career levels and industries to make meaningful connections with each other and discuss career goals.
Wolters Kluwer
NJCPA members save 25 percent on CCH CPELink subscriptions, live webinars and on-demand self-study (mobile friendly) CPE courses.
SMI
SMI has negotiated special discounts for the NJCPA members with all the major technology carriers and providers.
Shop the NJCPA store
Are you NJCPA proud? Purchase NJCPA merch to show your pride and help support our scholarship program.
Join the Cannabis Interest Group
New Jerseyans have voted to legalize cannabis. Join the NJCPA's Cannabis Interest Group to gain information, insights and best practices for serving clients in this promising new industry.
Find a CPA
Locate a CPA near you for expert help with tax preparation and managing the financial health of your business.
Career and Business
Get tools and guidance to grow your career and further your organization’s success.
Community
Connect with CPAs in New Jersey and beyond who have similar interests, challenges and opportunities as you.
Expertise
Increase your technical competence and leadership skills with cutting edge information and training.
Find a Peer Reviewer
Search our Peer Review Directory to locate a firm to perform your peer review under the AICPA Peer Review Program.