BONUS: Case Study and Worksheets: 3 questions to gauge your own competence, 4 questions about your personal brand and a 5-point checklist. By Martin Bissett Passport to Partnership The Passport to Partnership study collated a number of responses in a conversational style. Two brief but succinct examples that really stood out on the realities of how a firm assesses an individual’s “competence” to lead are showcased below. They need to explain technical data to me in a way that I know they understand it. What kind of lifestyle does this person have outside of work? We’ll be looking at Facebook, Twitter and Google to find out. MORE ON THE PASSPORT TO PARTNERSHIP: Sailing Through the Seven C’s to Partnership | Passport to […]
Bonus: Four outlooks from our exclusive expert council: Baker, Dobek, Tierney, Mister. By Martin Bissett Passport to Partnership The skill in producing financial reports is limited by the quality of the information presented to the CPA by the client. Motivation of the client to influence that financial information comes in many forms, some intentional and some unintentional. Competence comes first in being able to resist pressure and present a true and accurate position of the client’s organization. Sounds obvious, doesn’t it? But there’s a twist. MORE ON THE PASSPORT TO PARTNERSHIP: Sailing Through the Seven C’s to Partnership | Passport to Partnership: New Research Shows Wide Gap between Partners and Partners-To-Be Competence didn’t actually rank highly in the majority of partner requirements […]
BONUS CHECKLIST: Six essential ingredients for the highly effective performance evaluation. By Ed Mendlowitz The CPA Trendlines Practice Doctor QUESTION: Do you recommend annual staff evaluations? MORE PRACTICE DOCTOR Q&A: When Staffers Stagnate | When to Hire an Admin Assistant | 12 Must-Knows for Niche Markets | When Large (or Any) Clients Need Backup Assurances | When Experience Doesn’t Add Up | 6 Ways to Know What You Don’t Know | 10 Do’s and Don’ts for Making Small Business Clients Happy | When a Staffer Stops Listening | Making Meetings More Productive | 44 Critical Criteria for Accounting Staff Performance Evaluations ANSWER: Yes and no.
Competence comes first. But it’s only a prerequisite. BONUS WORKSHEETS: 11 Questions to Plan Your Path to Partnership By Martin Bissett Passport to Partnership Staffers aspiring to be partners must learn the key characteristics of successful partners. They also must learn how to develop their own personal plans to achieve partnership. Firms and staffers alike need a clear set of procedures, processes and milestones for turning top talent into the next generation of firm leadership. There are seven critically important criteria by which partners assess partners-to-be. I call them: The Seven C’s
What we have here is a failure to communicate. Editor’s Note: With this article, CPA Trendlines introduces a new series of articles by Martin Bissett reporting on the findings of his proprietary research into the keys to making partner. The research is based on hundreds of interviews with partners and practitioners at more than 30 firms in the U.S. and the U.K., dozens of experts and advisors, and his own 20 years of experience in the field. In his research, Bissett uncovered a wide gap between what partners say they seek in a staffer yearning to be partner and what they actually do and say to train and nurture the staffer. His work in Passport to Partnership is dedicated to bridging that gap, […]
New global study shows 43 percent of accountants are ready to jump ship. Here’s why. By CPA Trendlines Research The war for top talent in the U.S. accountancy profession is spreading worldwide, fueled by growth and increased confidence, according to a new global study obtained by CPA Trendlines. Some 43 percent of accountants at multinational firms say they’ll probably leave their jobs within the next year or two, seeking more pay, better opportunities or both. The figures closely follow those found by CPA Trendlines in U.S.-focused studies (CPA Firms Paying Top Dollar for Talent in Nationwide Hiring Binge). GET THE INSTANT DOWNLOAD of the FULL-SIZE INFOGRAPHIC:
Higher-level staff person isn’t supervising or mentoring anyone. By Ed Mendlowitz The CPA Trendlines Practice Doctor QUESTION: I have a staff person who does great work, but she seems to be deadened. The good news is that her clients love her and she doesn’t bug me about becoming a partner. MORE PRACTICE DOCTOR Q&A: Yes, You Should Send Rejection Letters | 7 Ways to Lose a Client’s Trust | 12 Must-Knows for Niche Markets | 6 Ways to Take a Client Beyond Tax Prep | 18 Ways to Blow a Partnership Opportunity | 8 Times When Hourly Billing Trumps Value Pricing | When a Staffer Stops Listening | 44 Critical Criteria for Accounting Staff Performance Evaluations | 5 Time Management […]
The good news: Nearly three-quarters of respondents in a CPA Trendlines career outlook survey say turnover in their offices is low. The bad news: More than half say performance reviews are neither regular nor useful.