Beyond Partner Accountability

There has been a considerable number of articles and discussions concerning partner accountability over the last 10 years. Why is it that so many firms struggle with this issue? Why is it that even after implementing an accountability-based system, many firms fail to get to the next level of success through higher degrees of partner performance and accountability? Traditionally, partner accountability provides guidance to partners on establishing and implementing their goals and objectives and is ... continue reading

KPIs: Going Beyond the Numbers

This article appeared in the May/June 2017 issue of New Jersey CPA. Accounting firms of all sizes have been challenged to measure and manage partner performance using quantitative Key Performance Indicators (KPI). Such KPIs include revenue per partner, new business generated, chargeable hours, partner realization rates and write-offs. Certainly, these metrics are fundamental measurements of a partner’s performance. Quite often, however, the details are buried in the metrics and overlooked, and analyzing them may tell ... continue reading

Suggested Topics for Your 2018 Annual Partner Meeting

There are many essential factors in planning a Partner Meeting, including selecting the appropriate discussion topics, and developing a relevant and strategic agenda. To follow are some discussion topics that you may wish to consider in your agenda planning process: Increasing profitability by managing the firm more like a business and making critical business decisions. Deciding how partners can add more value to client services and develop new and innovative approaches to the demands of ... continue reading

Aligning Strategy and Performance

Following a retreat or planning meeting, most CPA firms develop comprehensive goals and objectives and a strategic direction. However, to be a more integrated and cohesive organization, firms need to effectively align the performance and skills of their partners and staff to the goals and objectives of their firm. This alignment process can be accomplished by setting and closely aligning individual partner and staff performance criteria to the firm’s overall short and long-term strategic intent. ... continue reading

The Game Changed—You Need Elite Partners (Quarterbacks) to Win

Going back through the history of Super Bowl winners, the old axiom for a winning formula was a combination of a strong running offense with a dominating defense. However, the rules and the game have changed and now favor teams with talented (elite) quarterbacks who can change plays quickly after analyzing the competition—the new winning formula. Similarly, the game and rules have changed in the accounting profession. In order to have sustained increases in growth ... continue reading