Archive for the ‘Talent’ Category

Friday, March 27th, 2020

Too Many At The Top

“No one can make you feel inferior without your consent.” – Eleanor Roosevelt

There are many CPA firm partners who are nearing retirement. They have always dreamed of passing their firm on to the next generation, dreamed of having it survive. Sorry to say, that is going to be an unfilled dream for many small to mid-size firms.

The reason? They are top-heavy. They are counting a few top performers to replace many, including some non-performing partners?

Read this post about the Upside Down Pyramid – it’s Flashback Friday!

Stay safe!

  • The fool doth think he is wise, but the wise man knows himself to be a fool.
  • William Shakespeare

Tuesday, March 24th, 2020

Do You Have People Who Aren’t Self-Aware In Your Firm?

“I am dating a woman now who, evidently, is unaware of it.” – Gary Shandling

Research shows that although 95% of people think they are self-aware, only 10 to 15% actually are.

In a recent article via HBR, you probably can find them in your office. It is my observation that you definitely find them in CPA firms!

These are people who have solid qualifications and are intelligent, yet they have no clue as to how they come across to their co-workers or employees. They are not only frustrating, but they can also cause increased stress and decreased motivation for others on the team.

Sometimes it is hard to identify that the real problem is lack of self-awareness. Some things to consider are that they don’t accept critical feedback, they lack empathy, they have an inflated opinion of their contributions and they are hurtful to others without realizing it.

Sometimes upward feedback surveys can bring the issues to the surface. In other cases, if you recognize it in others, you might have that crucial conversation with the person yourself.

Read the entire article. Plan to deal with these situations rather than sweep them under the carpet and risk driving top performers away from your firm.

 

  • There must be a happy medium somewhere between being totally informed and blissfully unaware.
  • Doug Larson

Thursday, March 5th, 2020

Managers Play A Key Role In Engagement

“’No news is good news’ should not be an employee recognition program.” – Sharlyn Lauby

Partners and owners in public accounting firms rely heavily on those experienced employees who have significant experience. They have learned and evolved over the years and are now managers in the firm.

Firm managers are on the frontline when it comes to all the other team members (supervisors, seniors, staff, associates, bookkeepers, etc.) who make up the remainder of the accounting/tax team.

Thus, managers play a key role in the training, development, and motivation of others. They make a big difference in the daily lives of your entire staff.

One big issue I have observed is that owners don’t often provide enough training for managers in the art of actually managing. “The firm” sends them to various CPE courses and encourages them in their online training in the technical skills they need to succeed. In other words, they invest in teaching them tax, audit, and accounting. Learning people skills is left to chance.

Lots of articles and surveys have told us that employees do not leave a company (firm), they leave a manager. So, lessening turnover and increasing employee engagement is the responsibility of the manager.

How can your managers create a great day for employees? Sharlyn Lauby (@hrbartender), an HR pro give us eight tips:

  1. Deliver a learning moment.
  2. Use the employee’s strengths.
  3. Tell employees they made an impact.
  4. Recognize an employee’s accomplishments.
  5. Offer inspiration.
  6. Help employees make progress toward their goals.
  7. Create collaborative opportunities.
  8. Let employees make it theirs.

Read more about each of these eight tips in this recent post from Lauby.

  • The goal is with every interaction to provide employees with an engaging experience.
  • Sharlyn Lauby

Wednesday, March 4th, 2020

Why Women Leave CPA Firms

“What is not acceptable is watching talent walk out the door.” – Joey Havens 

I recently read a great article via the Journal of Accountancy by Joey Havens, Why Women Leave Firms – And What We Can Do About It. 

He tells us two troubling stories about real-life situations for female CPAs in public accounting.

Havens notes: “I’m making the decision to get up from this gut punch and work even harder to make sure we shine the light on a better path forward. I commit to help elevate our profession until we are known as a place where every individual has an equitable playing field and opportunities to pursue their full potential and dreams.”

Then he goes on to give us some steps to take to prevent women from walking out the door!

  • Many of us in this profession are clinging so tightly to working the way we always have.
  • Joey Havwens

Thursday, February 13th, 2020

Every Firm is Hiring

It is common knowledge in the profession of public accounting, every firm is hiring.

They are looking for top, young talent. It seems every firm is looking for the exact same candidates.

Here’s something from Peter F. Drucker that you should think about:

“Determine whether your organization is betting on young people, older people, or immigrants. Make sure you have a plan for the gradual decrease in the youth market and the increase in newcomers and the aged.” – Peter F. Drucker

What is your plan for the future? If you are a partner, you should be developing two talented people to replace you. That should be your number one priority. Or, your partner group needs to admit that selling-out or merging-up are on the horizon.

Either way, you must have an attractive culture and be progressive and efficient. No one wants a firm that is not thriving and growing.

  • The best way to predict the future is to create it.
  • Peter F. Drucker

Friday, January 24th, 2020

Provide Training For Your Leaders – Please!

“Learning never exhausts the mind.” – Leonardo da Vinci

Convergence Coaching’s Spring Transformational Leadership Program™ (TLP) is open for registration! This year-long program kicks off at the end of May and is designed to take high-potential managers, senior managers, principals, and newer partners to their next level of success in leading others and the firm.

So much is changing. Now is the time to expand your visibility & take on a meaningful role to drive change at your #firm. Learn the skills you need to advance your #role with the @ConvergenceSays TLP. Here is a helpful video –  https://youtu.be/xKP8KeKFMkg

For more detailed information about this valuable program, click here.

The program fills up quickly so don’t wait too long to register.

  • Tell me and I forget, teach me and I may remember, involve me and I learn.
  • Benjamin Franklin

Monday, January 20th, 2020

Retaining Top Talent

“It doesn’t make sense to hire smart people and then tell them what to do; we hire smart people so they can tell us what to do.” – Steve Jobs

It is very difficult to find and hire talented accountants and administrative personnel. Accounting firms have been struggling for years with this topic and it only seems to be getting more challenging. So, once you do hire a qualified person, how do you keep them?

I recently read a good article via HBR titled, Why People Quit Their Jobs.

In the CPA profession, we have heard for years that the reason people leave their jobs is the fact that they have a poor manager (boss).

Research now tells us that there is more to it than just a bad manager. Technology has enabled companies to better track reasons people leave jobs. A lot of it is personal reasons. Another interesting aspect is that large companies are tracking what employees are doing that might indicate they are unhappy with their current job like how much time they spend on LinkedIn.

It seems that comparing themselves to their peer group – both business peers and personal friends causes people to consider their current job status.

Take a few minutes to read the article, I think you will find it helpful in your quest to retain top talent.

  • Hiring the right people takes time, the right questions and a healthy dose of curiosity. What do you think is the most important factor when building your team? For us, it’s personality.
  • Richard Branson

Thursday, December 12th, 2019

Why Poor Performers Stay

“Peace is not absence of conflict, it is the ability to handle conflict by peaceful means.” – Ronald Reagan

Some of your team members are not meeting expectations. Some are downright disruptive.

You have been unhappy with them for a long time, usually years. A new employee could easily cover their workload and often at a much lower pay rate. Yet, you do not deal with the situation.

The unhappy employee continues to inject poison into your culture. When asked, they willingly explain that they are not happy with firm leadership but they stay because they love the work, love the clients and the firm needs them.

The real reason they stay – they make too much money to quit. With their performance and work history, they could not easily find another job that pays as well.

  • The most important thing in communication is hearing what isn't being said. The art of reading between the lines is a lifelong quest of the wise.
  • Shannon L. Alder

Monday, December 9th, 2019

Attracting & Developing Top Talent

“Whatever you do in life, surround yourself with smart people who’ll argue with you.” – John Wooden

Everyone is hiring. It used to be a seasonal event for accounting firms. Now, progressive firms have adopted a plan for continuous hiring. Firms are growing and it is important to hire before you have to.

My questions for accounting firms (and some things for you to consider):

Do you have a rigorous focus on professional development? Maybe this is why there is so much worry about succession. Why not be more generous with education dollars for your younger staff. Of course, you must give them technical training but don’t forget about the “success skills” (formerly known as soft skills) if you want them to become business advisors earlier in their careers.

Have you attracted and retained the smartest people? Young people are drawn to public accounting because they appreciate being able to work with smart, successful, creative, and hard-working people. Do the majority of your people fit this description? Do you keep too many mediocre performers?

Do your young all-stars have vast opportunities? Or, do they have to wait ten years to become a manager?

Do you reward your best performers with salaries beyond being competitive? Or, do you try to get by with the minimum of just keeping pace with average firms?

  • Success is a lousy teacher. It seduces smart people into thinking they can't lose.
  • Bill Gates

Tuesday, November 26th, 2019

New Rules of Work

“Disruption requires us to think differently about work.” – Sharlyn Lauby

I’m sure you have noticed, finding, hiring, and retaining talented people has become more and more difficult. The AICPA PCPS 2019 Top Issues names Finding Qualified Staff as the top issue in every firm size category (except sole proprietors).

In the accounting profession, everyone is talking about disruption and the need to change how things have been done in the past. The work and the workforce has changed and it requires us to think differently about work.

Sharlyn Lauby (@hrbartender) has written an excellent post: The 7 New Rules of Work – Workforce Readiness In the Digital Age. I urge you to read it and share it with all the partners and HR leaders in your firm.

The rules she describes come from a keynote she heard by Polly LaBarre, author of the New York Times best-seller “Mavericks at Work: Why The Most Original Minds in Business Win.”

It is important to create rules that apply all the time and to let those rules drive company culture.

The rules are:

  1. Everyone has power
  2. Nobody is smarter than everyone
  3. All ideas are heard
  4. Challenging ideas is acceptable and encouraged
  5. Passion is the most powerful currency
  6. People design their own jobs
  7. Values rule decision-making and accountability

Please read the article. It gives good advice to managers and HR leaders about these seven rules. Staying current on trends in hiring and retaining will help you win the talent wars in the CPA profession.

  • Company values should already be the guiding principles of the organization.
  • Sharlyn Lauby