7 Warning Signs for Your Firm

Man with head down on laptop keyboardIf it's suffering these, a culture change is due.

By August Aquila
Creating the Effective Partnership

Accountability, according to the Merriam-Webster online dictionary, is “the obligation or responsibility to accept responsibility or to account for one’s actions.” Let’s explore what this definition means.

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First, there is an obligation. An obligation is a promise to do something. If a company has a financial obligation and fails to meet it, it may go into bankruptcy. If individuals fail to meet their obligations they also fall into a state of bankruptcy – i.e., failure.

Second, it is a personal responsibility. Each individual needs to account for his or her own success or failure.

Impact of lack of accountability

There is a real financial impact to the firm because of a lack of accountability.

  • Partners have low trust and are very reluctant to share clients with other partners.
  • Decisions take a long time or perhaps don’t get made at all.
  • Partners operate like sole practitioners rather than members of a team.

There is also a trust impact where there is low accountability. When partners don’t have accountability . . .

  • They have a difficult time setting and achieving goals.
  • They don’t want to have written goals.
  • Partners do not improve their skill sets.
  • They often fail to get the results they say they are going to get.

If you see these things in your firm, you are lacking a culture of accountability.

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