And some examples to consider.
by Marc Rosenberg, CPA
Author of How to Operate a Compensation Committee
Core values are the attitudes and beliefs that define a firm’s culture and a critical ingredient in a successful compensation plan.
More Marc Rosenberg practice management trends and guidance: 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” | The 15-Item Checklist for Your Next Partner Retreat | Five Key Responsibilities for a New Partner| Planning a Partner Retreat for Real Results | 6 Steps to Get Your Business to the Next Level | The 10 Biggest Mistakes in Reading MAP Statistics | Re-Engineering Partner Accountability | Marc Rosenberg: Why CPAs Aren’t Making More Money [VIDEO] | Marc Rosenberg: Slow Learners Need Not Apply | 10 To-Do’s for a Partner Buyout
Partners talk about the firm’s core values all the time, pointing out instances when someone’s behavior has clearly been impacted by them. These values are incorporated in processes throughout the firm, such as in the development and evaluation process, in the way income is allocated to partners, and in what raises are given to staff.
When identifying your firm’s core values, consider:
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