Archive for the ‘Mentoring’ Category

Tuesday, November 7th, 2017

Staff Development

“Intellectual growth should commence at birth and cease only at death.” – Albert Einstein

Most firms have some sort of coaching program for team members who are in their early years as a staff associate. The transition from campus life to professional work life can be rather overwhelming.

Some firms have buddies, coaches, mentors, sponsors and maybe other levels of on-going staff development activities for everyone at the firm. I believe that partners still need to have a mentor.

While all of that is going on, there is often an experienced person inside the firm, usually a long-time manager, who takes it upon themselves to be a real source of knowledge and support to the younger, less-experienced staff associates.

Often, this person goes unrecognized and maybe the firm does not even allow them some slack in their workload while they informally coach the younger workers.

Sharon_TrabbicThat’s why I love a comment made by Sharon Trabbic, PAFM, Chief Operating Officer of the William Vaughan Company, CPAs in Maumee, Ohio.

“Our coaching program is very similar to other firms. We ask for the coaches and protégés to connect formally four times a year and informally as often as they need to. We have one senior manger that is an excellent coach for staff members and she coaches 9 people. That role is almost as important to the firm as her client work.”

 

  • Confidence comes from discipline and training.
  • Robert Kiyosaki

Monday, April 24th, 2017

Maybe a Sabbatical Program Would Make Your Firm Unique

“The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.

In the accounting profession, we have been talking about sabbaticals for years. Few firms offer this benefit.

Some firms established a sabbatical program for partners, urging them to take six weeks away from the office with NO CONTACT. The mission being to prove to the partner that they could get along just fine without them and client service would not suffer. These types of programs were a half-hearted attempt at succession planning. Honestly, I haven’t heard of many firms offering sabbaticals in any form. It seems CPAs love to work!

Rather than focusing on partners, why not establish a sabbatical program for your team members. Maybe it would differentiate you from your competitors and help retain top talent.

Kabbage_logo_wo_tag_vertKabbage®, the pioneering financial services technology, and data platform, out of Atlanta is offering a unique benefit to its employees. Perhaps, you can learn from them.

Kabbage is now offering a sabbatical option for team members who have been with the company for 5+ years. And it’s quite the package – a 6-week sabbatical that is fully paid plus the company gives a $6k stipend to encourage its employees to do something memorable ( a trip of a lifetime?)

Check out their career webpage. They offer:

Dynamic Environment
Daily catered lunches, ice cream freezer & snacks
Dog-friendly office
Cold/brewed coffee & beer on tap
Onsite fitness & meditation classes
Adjustable sit/stand desks

Competitive Benefits
Unlimited PTO
Equity in the company
Full coverage of individual health benefits
Six-week sabbatical program
Free parking
Annual bonus

Learning & Development
Shadowing program
More than 20 onsite courses
Interactive career development
Leadership development
Mentoring program

All of this makes me ask the big question. How does your firm’s career webpage stack up?

  • Happiness is not something you postpone for the future; it is something you design for the present.
  • Jim Rohn

Wednesday, July 27th, 2016

An Important Step In Staff Development

“Mentoring is easy and natural; it does not have to be just another dreaded task on your to-do list.” – Rita Keller

Thanks so much to Accounting Today and Sean McCabe for featuring many of my comments in the article, Molding the Future of the Profession – Mentoring young staff should be a crucial part of the recruiting and retention toolkit of more accounting firms.” 

Follow the link to read the entire article. And, thanks to Edi Osborne for all of her great comments in the article.

Here are some bullet point highlights:

  • Mentoring is just as important as salary and technology.
  • Mentoring requires an investment of time and money.
  • It is about attracting and strengthening future leaders for the profession.
  • Young people will buy into the vision of what it means to be a CPA and stay in the profession longer if they make a solid connection with someone who has already been down that road.
  • CPAs are great at teaching young people the technical skills but fail to impart knowledge about relationship-building and career-building skills.
  • Showing and not telling is vital to the mentor-mentee relationship.
  • Effective mentoring has become a strategic focus for the most progressive and successful firms.
  • You have to water the flowers you want to grow.
  • Stephen Covey

Monday, June 6th, 2016

What’s In It For Me? – The Mentor & the Mentee

“If you cannot see where you are going, ask someone who has been there before.” – J. Loren Norris

Tomorrow I will be talking at the AICPA Practitioners’ Symposium & TECH+ Conference about the importance of mentoring and how developing a mentoring culture can help the firm hire and retain talented people.

I usually get a lot of questions about the specifics, such as:

  • How often to we meet?
  • Where do we meet?
  • What exactly should I talk about?
  • What if we are not a good match?
  • How does each side benefit?

Here’s the answer to what’s in it for both sides:

For the Mentor:

Mentoring allows the mentor to give something back to the firm and to the CPA profession. It helps the mentor to become a much better listener. It is a way for the mentor to share some of the good things they have learned from their years of experience and also gives them a chance to share some warnings about bad things that could possibly happen. It gives them the opportunity to “see” the firm through another person’s eyes. Most mentors say they usually gain just as much, or even more, than the mentee.

For the Mentee:

A great mentor will help increase the mentee’s level of self-confidence. The mentee will learn how to say the right thing, when to speak up and when it is best to remain silent. It gives the mentee some direction on handling the feedback they receive on their performance. It provides important networking opportunities and introductions to people who may become influential to their careers. It helps the mentee more quickly understand the organization and even the CPA profession.

Simply put, creating a mentoring culture shows your people that the firm is willing to invest time and money in the success of its people.

  • My job is not to be easy on people. My job is to take these great people we have and to push them and make them even better.
  • Steve Jobs

Wednesday, June 1st, 2016

Modern Mentoring Methods

“Our chief want in life is somebody who will make us do what we can.” – Ralph Waldo Emerson

I have been advising CPA firms on mentoring programs for nearly 20 years. Yes, mentoring has changed and evolved greatly over that time period.

I will be updating some of you next week at the AICPA PSTECH Symposium in Las Vegas.

Here are some highlights, just in case you won’t be there!

  • Mentoring is different than supervising
  • Supervising focuses on performance and mentoring focuses on developing insight
  • The mentee owns the goals and the process, the mentor is there for expert support
  • The relationship should be collaborative
  • You can have more than one mentor – seek them out
  • A mentor can even mentor several people as a group
  • The mentee should be able to manage the relationship, called “managing up”
  • Some CPAs believe mentoring is difficult and involved – that is completely wrong, it is easy – keep it simple
  • You can’t force someone to be mentored, they have to be hungry for knowledge and eager to learn
  • Not everyone is naturally a good mentor, don’t force all partners to be official mentors
  • It’s perfectly okay to change mentors

Maybe it is time to update your mentoring program. Times are changing and so has mentoring.

 

  • A mentor is someone who allows you to see the hope inside yourself.
  • Oprah Winfrey

Thursday, May 5th, 2016

AICPA Practitioners Symposium & Tech+ Conference

PS16“A mentor is someone who allows you to see the hope inside yourself.” – Oprah Winfrey

It’s that time of year again. Time to register for the PCPS PractTECH+ Conference. This is THE conference where you can select from several tracks and cross-over tracks to gain CPE and to learn about:

  • Technology trends, including the latest on cloud migration
  • Management techniques to help you grow your business and enhance profitability
  • Marketing and sales initiatives to help secure the clientele you want
  • Human resource programming that can help you attract and retain key employees.

If you are a long-time attendee, this year bring a younger partner or team member with you to the conference. With two or more attendees from your firm you will have great momentum when you return to the office.

I will be speaking on why Mentoring Matters.

Mentoring is key in retaining top talent. Today’s new hire was raised in a culture of mentoring and positive reinforcement. Surveys tell us they will be looking to your firm to provide this same focused attention. Everyone benefits from mentoring! Learn what you can do to keep your top performers.

I would love to meet you. Seek me out during the conference – I’ll be mingling at all the receptions.

AICPA PSTech_Conference Speaking badge

  • My mentor said, 'Let's go do it,' not 'You go do it.' How powerful when someone says 'Let's!
  • Jim Rohn

Friday, April 8th, 2016

Key Advice For Women In Accounting

“I didn’t get her by wishing for it or hoping for it, but by working for it.” – Estee Lauder

Lynne Doughtie is the Chairman and CEO of KPMG. After 30 years at KPMG she made history by becoming the first female CEO last year. It is also important to note that Cathy Engelbert became the first female CEO of Deliotte earlier in 2015.

lynneRecently Doughtie (who is apparently a charming and down-to-earth person), shared some advice for women and employers about how the mindset has to change about females breaking through to reach senior positions in their careers.

Here’s her list:

  • Seek out and ask for mentors and sponsors
  • Understand the difference between the two
  • Work hard and set clear goals
  • Ask for more
  • Press the pause button when you need to
  • Be honest with yourself and stick to what your priorities in life
  • Don’t place pressure on yourself to do everything perfectly all the time
  • Do not lose your confidence, which has a knock-off effect in your career because of immediate circumstances

Want to learn more about mentors and sponsors? Join me at my session at AICPA Practitioners Symposium and Tech+ Conference in June in Vegas.

  • The most difficult thing is the decision to act, the rest is merely tenacity.
  • Amelia Earhart

Thursday, April 7th, 2016

Key Skills For Young Professionals

“Work to become, not to acquire.” – Elbert Hubbard

There are some recent reports that tell us that many young CPA professionals do not possess many of the skills necessary to carry them into the future.

Some recent studies (such as some done by the Maryland Association of CPAs) hint at an emerging crisis because of a significant gap between the skills young professionals need to succeed and those they actually possess.

Here’s a list that was compiled by a strategy session involving managing partners of 14 local, regional and national CPA firms facilitated by MACPA:

  1. Communication
  2. Writing skills / memos
  3. Critical and strategic thinking
  4. Advanced Excel skills
  5. Time management / organization
  6. Prioritization
  7. Collaboration

Take some time to assess if this list is valid with your own young professionals. Read much more on this topic here.

  • The best way to predict the future is to create it.
  • Abraham Lincoln

Friday, February 5th, 2016

Engage & Retain Talent With Mentoring

I have talked about, written about and helped firms implement mentoring programs for years. Still, I am receiving lots of feedback about the lack of dedicated mentoring inside CPA firms.

I contend that mentoring is the foundation of the CPA profession. An older, more experienced accountant guides and teaches a younger, less-experienced accountant. It has been going on for decades. It is how young CPAs have always learned their trade.

Take that basic approach and incorporate more recognition, honest feedback, skilled listening and career advice and you have a mentoring program.

Engaging and retaining talent is a hot topic for the accounting profession. Mentoring can be an important tool.

Experienced CPAs question me…. Where do we meet? How often do we meet? What exactly do I say? What do they expect of me? It will take too much time…. on and on.

Please keep in mind, when it comes to actually implementing a mentoring program, KISS – Keep It Simple Sweetheart. You can actually mentor and guide someone with two words. Here’s how, from a presentation I did for Boomer Consulting:

  • I am not a teacher, but an awakener.
  • Robert Frots

Friday, January 15th, 2016

Managers Are Often NOT Doing Manager Work

This is mostly a repeat of a previous post from January 2014. At this time, I feel it is worth repeating!

People with the title of “manager” working inside CPA firms usually are not doing what a “manager” should be doing. Just like many partners, managers get very comfortable actually DOING the work rather than carrying out manager level responsibilities and activities.

Managers play a key role in employee engagement and retention. Remember, people leave bosses not firms.

I once asked a group of CPA firm owners to give me their expectations of a person in the manager role and to keep it very simple. I think the following bullet point job description says it clearly and concisely. How do your managers stack-up?

  • Solid technical skills, with an area of technical expertise that is recognized
  • Good communication skills, both written and verbal
  • The ability to manage and develop team members
  • The ability to manage client relationships
  • The ability to manage multile engagements
  • The ability to manage engagement profitability
  • Executive presence
  • Must be an advocate of the firm
  • Participation in firm marketing activities
  • Participation in personal marketing activities
  • Participation in various firm internal projects
  • Be viewed, by most firm owners, as a candidate for partner status

Addendum for 2016: So many partners declare they have no one who can replace them when they retire. If you want succession to work at your firm you must work with your managers on these key traits. Developing people is a key characteristic of a competent partner.

  • To add value to others, one must first value others.
  • John Maxwell