Remember: Strong levels of partner accountability lead directly to higher levels of firm profitability.
by Marc Rosenberg, CPA
Accountability. A word that strikes fear (unnecessarily, I might add) in the hearts of partners.
We see this constantly in the free-agent age of professional sports. Athletes sign a lucrative, long-term contract, and promptly start producing less. Partners in firms are no different.
More Marc: • Pick Your Partners Right to Begin With • The First Nine Questions Your Partner Team Needs to Embrace for Optimal Profitability • Profitability and The Value of Strategic Thinking • The Five Essential Building Blocks for Creating a Strong Accounting Firm • The Seven Signs of Great Leadership in a CPA Firm • Compensation Issues for the New Managing Partner • 20 Decisions for Your Firm’s New Partner Compensation Committee • Three Ways to Break Partner Gridlock in an Accounting Firm • What Partners Are Entitled To, and What They’re NOT Entitled To | How to Make Partner? • Why Accounting Firm Partners Are “Popping Prozac like M&M’s” •
Here are 10 good ways to achieve partner accountability. Every one of these measures is time-tested and works well. Some work better for some firms than for others. The key is not simply to provide for the accountability measure, but to do it well.
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