Archive for the ‘Training’ Category

Monday, January 11th, 2021

Leadership Development

Once again, it is time to invest in the future success of your firm. I am happy to share this opportunity for your partners-in-training from The Partner Institute™

“Management is doing things right; leadership is doing the right things.” – Peter F. Drucker

How is your firm’s foundation for ensuring long term success and growth?
Is your firm taking the necessary steps to develop the next generation of leaders? When considering the right CPA leadership development program for your firm, what is important to you? Leadership is the cornerstone of your firm’s future. Read More
Announcing The Partner Institute™ 2021
The Partner Institute™ is a comprehensive, three-year leadership development experience designed specifically for the CPA. Our program provides participants with world-class training, a continuous learning environment, and a culture of accountability that is unmatched.
We are dedicated to creating the best experience for our participants and appreciate the value of providing in-person training. As such, we have decided to delay the start of our 2021 program.
If you have not registered, there is still time. Enroll now and join us for the launch of our next program on June 9-11, 2021 at Walt Disney World. Learn More
Reserve your spot in The Partner Institute™ by submitting your registration and a deposit of $500. Attend the initial course and then decide if the program is right for you. If you elect to continue, we will invoice you accordingly. 
Enroll Now

  • Average leaders raise the bar on themselves; good leaders raise the bar for others; great leaders inspire others to raise their own bar.
  • Orrin Woodward

Monday, December 28th, 2020

An Investment

“It takes courage to grow up and become who you really are.” – E.E. Cummings

The military takes a young, enthusiastic person and turns them into highly-skilled soldiers, sailors, marines, etc. These very young people have huge, life or death responsibilities. (Haven’t you seen the documentaries about the flight deck crew on an aircraft carrier?)

They do this by training, training and more training. It is how they build for the future.

Training is not an expense – – it is an important investment.

In many accounting firms, the partners are focused too much on the cost of training. Be generous with training dollars. It is an important investment in the future of your firm.

Too often I have heard CPA firm employees say, “Oh, my partners would never pay for that (fill-in the blank).” They are hesitant to pay for training, a conference, a subscription to a publication, coaching or even a book!

Again, if you want to build future leaders for your firm, be generous with training, training, and more training.

  • You cannot prevent a major catastrophe, but you can build an organization that is battle-ready, where people trust one another. In military training, the first rule is to instill soldiers with trust in their officers - because without trust, they won't fight.
  • Peter Drucker

Wednesday, November 11th, 2020

Hiring & Managing People

“Train people well enough so they can leave, treat them well enough so they don’t want to.” – Richard Branson

I certainly enjoyed being involved in the CPAFMA Accelerator Sessions this week. It was such an honor to be on the agenda both days with some very awesome people. The Accelerator sessions caused me to think about my own list of current issues and trends.

  • The digital transformation of work has finally arrived. It is amazing how much firms accomplished in such a short time.
  • Firm leaders have realized that a hybrid model that combines in-person and remote work actually works well and it will permanently lower the number of people in the office.
  • It has been widely discussed that firms will be reducing the amount of office space. Some have already begun this process. See the next bullet.
  • About 77% of respondents to the third-quarter AICPA Business & Industry Economic Outlook Survey said they planned to keep their office square footage. Only about 18% planned a reduction, despite the potential savings.
  • The pandemic caused us to reset and rethink the ways we hire and manage people. A demand for thorough hiring that is probably different from how you have always done it. Interview questions that provide you with meaningful information will become more important. You will need to train your interviewers.
  • Hiring & managing remote people should be done in a consistent manner. You might soon see a new position in your firm “Head of Remote Work” – larger firms already have positions like chief people officer or chief culture officer.
  • Look for people who can self-manage
  • Prospective employees may be talented – people are born with various talents – but are they able to use their talent to build the skills necessary to be successful in public accounting?
  • Trust on both sides – partners & staff – will become even more important.
  • CPA firms are looking for experienced people. One reason is that they aren’t prepared to hire new college grads who are completely green – they haven’t developed a plan on how to train them yet. Some firms have already mastered this!
  • Don't criticize, condemn, or complain.
  • Dale Carnegie

Tuesday, November 10th, 2020

Hard Work

“A dream does not become reality through magic; it takes sweat, determination, and hard work.”  – Colin Powell

As part of the CPAFMA Strategy Leadership & Growth Accelerator Session yesterday, I was asked to talk for just 10  minutes about TALENT. Because I am again speaking today on TALENT, I decided to approach it from a different angle for the Strategy session  If you want to hear more of the nitty-gritty about hiring, interviewing, and retaining employees, please tune in today when I will be part of the Talent & People Accelerator.

We hear Talent talked about so much in the CPA profession. Let’s explore what we really mean by the word “Talent.”

At the beginning of the pandemic, when larger firms were shedding people (mostly poor performers), I anticipated that more qualified people would be in the job market and firms below the Top 100 might attract some people who were experienced and capable.

What I am seeing is that didn’t happen. All of my clients and other firms in my sphere tell me that they are trying (several, almost desperately) to find more people with the skills and desire to work and succeed in public accounting.

Recently, I listened to a Ted talk by Suzanne Lucas @realevilhrlady. She writes and advises on HR topics. The subject of her Ted talk was FORGET TALENT AND GET TO WORK. I agree with her viewpoint on this and feel like it is an issue in the CPA profession. It is only 8 minutes long, you should listen to it.

She talked about Talent and the use of the word in hiring. Sometimes the words we use distort our intentions. We don’t talk about people anymore. We talk about Talent. Look at the titles of many of the webinars you have attended and articles you have read!  We talk about talent management and talent assessment and we moan about talent shortages.

For example, here are some titles of articles in CPA publications:

  • The Accounting Profession: Talents that Matter
  • How to Motivate & Retain Your Talent (JofA)
  • How to Win the Game of Talent (JofA)
  • Where Should You be Looking for Top Talent (AT)
  • I have spoken and written on the topic of Hiring and Retaining Top Talent numerous times!

We seem to think that talent is something you are born with. That a 4.0 GPA means you have talent. In our world, what talent means is you have the above-average ability to master accounting firm work very rapidly.

The definition of the word is: A special often athletic, creative, or artistic aptitude. b : general intelligence or mental power : ability. 2 : the natural endowments of a person. 

If we believe that music requires talent and that we could never do it – we are wrong. We probably could.

People that made a true impact in the world did it through hard work. Yes, Mozart composed his first piece of music at age 5, and, yes he was talented. Lin-Manuel Miranda says it took him about seven years to write Hamilton. It took him one year alone to write the second song in the show, “My Shot.” He did it through hard work and dedication.

What we really seek are people who are trainable and can develop skills. Skill is something you gain through hard work and dedication.

Could I learn to paint or learn to play the piano? Of course. I don’t have natural talent but I could do it through a lot of hard work.

I never did the hard work to be able to run a marathon – I could have but I preferred ice cream and long leisurely walks.

When we are hiring, we need to ask, “Can this person learn what we have to teach?” Does she have the determination to learn hard things? We all know that fresh college accounting graduates can’t do the work in public accounting right away but do they have the grit to learn? Have they worked hard in the past? Have they failed and then succeeded?

I have heard many, many very successful CPA partners say “I certainly didn’t have a 4.0 GPA.” The average student (not considered top talent) has often become an expert and a very highly-compensated CPA firm partner.

Just about anybody can learn just about anything if they are willing to work hard.

Google asked what makes great employees and perfect grades were not at the top of the list. What was? Listening, critical thinking and problem solving.

It isn’t all about being endowed with natural talent, it is about the hard work of building skills.

CPA firms should be more willing to make significant investments in quality training & development. If more focus was put on training/development you might find that you have more productive and skilled people working at your firm, formerly considered average performers. I still hear horror stories about new hires more or less being thrown to the wolves, so to speak.

Many years ago, I began to talk about team members rather than using the words staff or employees. I thought if we used the word TEAM enough we might actually become one. Why not put more focus on seeking team members who are willing to work hard and develop the skills necessary to be CPA and not stress the word TALENT so much?

I still believe that it takes grit and perseverance to become successful in the public accounting world. Look for people who have demonstrated passion and dedication followed by hard work to build skills. They will succeed.

  • Men die of boredom, psychological conflict and disease. They do not die of hard work.
  • David Ogilvy, advertising business tycoon

Monday, November 2nd, 2020

Invest In Your Future Partners

“TPI was one of the most meaningful programs in my professional career.” – Jessica Sayles, Managing Principal

How many of your current partners went through any kind of educational program to prepare them for partnership? Your answer might be, “None.” Or perhaps, one or two. Don’t you wish ALL your partners had some basic training on how to be a productive, successful partner in a CPA firm?

Now is the time to register your prospective partners (current partners might need to also register!) for The Partner Institute.

The Partner Institute is a comprehensive three-year leadership development experience designed specifically for the CPA. The program provides participants with world-class training, a continuous learning environment, and a culture of accountability that is unmatched.

The launch of the next program is on January 13-15, 2021 at the Boardwalk Inn at Walt Disney World.

If in-person attendance is not an option for you at this time, you may choose to attend virtually. If less than 12 participants are available to attend in person, they will forego the January start date and launch the program on June 9-11, 2021.

Never hesitate to invest in your firm’s future. More information about The Partner Institute here.

Click here to view testimonials.

  • The path of light is the quest for knowledge.
  • Lailah Gifty Akita

Tuesday, September 24th, 2019

Playing Games With Time

“Understanding the value of time is understanding the true essence of life.” – Sunday Adelaja

If you bill based time, does everyone at your firm keep their time accurately?

Do partners play games with time? For example:

  • That will put us over budget, just post your time to admin.
  • Two managers were involved, let’s just record one manager’s time.
  • I was helping Joe with some questions on XXXX client. I’ll just put my time in training.

Tell your people to record all time and that it doesn’t mean you will actually bill the client for all the time. Recording time and billing the client are two separate things.

If you are playing these games, why are you billing by time in the first place??

  • Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.
  • Thomas A. Edison

Monday, June 10th, 2019

Partner Compensation & Performance Webinars

“Do your job and demand your compensation – but in that order.” – Cary Grant

Compensation and performance issues for the partner group in a CPA firm are always topics that CPA firm leaders want (and need) to know more about.

This month you have the opportunity to learn more about these topics via CPA Leadership Institute. Gary Adamson of Adamson Advisory will conduct the following three webinars in June:

Partner Compensation Methods and Trends – June 12, 2019 – 1:00 to 1:50p

Partner Compensation – How it Can Be Linked to and Help Create a Culture of Accountability and Unity – June 19, 2019 – 1:00 to 1:50p

How to Maximize Performance of Best Practices in Partner Admission, Transition and Buy-out – June 20, 2019 – 1:00 to 1:50p

  • Do what you love and the money will follow.
  • Marsha Sinetar

Wednesday, February 6th, 2019

The Hiring Challenge

“Practice does not make perfect. Only perfect practice makes perfect.” – Vince Lombardi

I was reading an article via the Journal of Accountancy titled, Small firm spotlight: How I recruit and hire new accountants. Cheryl Meyer interviewed Kenneth Cerini, the managing partner at Cerini & Associates.

I could certainly relate to much of what Mr. Cerini divulged.

Recruiting and hiring is an art, not a science. When you are hiring people, you can’t cram a square peg into a round hole. We’ve brought people in from bigger accounting firms and realize they are not the right fit overall. We have much smaller clients, and our clients need more handholding. That’s why I love interns. I’d rather invest more money in the training and be able to bring on people at a younger level and help them grow within our atmosphere. You learn a tremendous amount during your first two to three years in public accounting.

At my firm, we found that hiring a 5-year person from a big four firm was not a very smart move. We had many small business owners and our 5-year people were so much more knowledgeable on many types of situations. It seemed to us that a 5-year person working at one of the big national accounting firms just did a one-year person’s duties five times.

However, that being said, firms are often very successful in training smart people no matter what their background. Often it is the training programs that need attention and, of course, the experienced new hire’s attitude is key.

  • Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.
  • Helen Keller

Monday, July 2nd, 2018

The Best Way to Train New Staff

“The greatest education in the world is watching the masters at work.” – Michael Jackson

Several years ago I heard Dustin Hostetler, Chief Innovation Officer at Boomer Consulting, talk about a method of training that he thought would be greatly beneficial to the CPA profession.

It is a simple, 4-step method but seems to make so much sense for interns and new hires working in accounting firms.

  1. I do – You watch
  2. I do – You help
  3. You do – I help
  4. You do – I watch

Here’s a short video with the complete explanation.

  • Learning is not watching a video, learning is taking action and seeing what happens.
  • Seth Godin

Tuesday, April 3rd, 2018

Too Many Interruptions

“The main thing is to keep the main thing the main thing.” – Stephen Covey

I hear it from so many people working in public accounting. The topic is distractions and interruptions. Several people have told me recently that even when they shut their door, people don’t take the hint – they simply knock and enter.

Distractions also include mobile devices, too many meetings, and noisy people when a group decides to chat in the cubicle next to you or outside your office door. Then there are those newer staff members who continually have questions.

Sharlyn Lauby, @hrbartender, has some helpful suggestions in her article, Workplace Distractions Are Impacting the Bottom Line.

  • Provide a place where employees can hang-out and talk without disturbing others.
  • Define, upfront, whether music can be played in work areas. Some people like quiet and some people like music – define your policy.
  • Provide employees with noise-canceling headphones.

Teach newer team members to compile a list of questions and let them know you will make yourself available at 11:00 and 4:00 to provide answers and guidance.

If you want to know more about the research behind Lauby’s article you can access Udemy’s 2018 Distraction Report for more information.

If you have HR responsibilities at your firm, follow Lauby on Twitter @hrbartender.

  • The idea flow from the human spirit is absolutely unlimited. All you have to do is tap into that well. I don't like to use the word efficiency. It's creativity. It's a belief that every person counts.
  • Jack Welch