mandatory partner retirement?
nearly two-thirds of multi-partner firms have a mandatory retirement provision.
by charles hylan
the rosenberg survey: national study of cpa firm statistics read more →
the partnership
are partners getting younger?
卡塔尔世界杯常规比赛时间
for the last dozen or so years, the number of partners over age 50 has steadily climbed upward, but now that’s changing, according to the new rosenberg map survey.
8 ways comp systems get partners to do what the firm needs
is your firm’s message clear or cloaked?
by marc rosenberg
the rosenberg practice management library
years ago, a senior partner at a 12-partner firm retreat i was facilitating gave us all an “aha” moment: “a partner compensation system is just a way of allocating income among the partners. it’s not meant to be the primary way to manage a firm.”
more: 7 points of a well-crafted partner buyout agreement | take yoda’s advice on strategic planning | buyers name 20 big merger turnoffs | smart tech tips from top cpa firms | 15 amazing organizational tactics to manage a cpa firm | why governing by partner ownership is bound to fail | 6 ways to retain nextgen staff | how to develop a truly progressive nextgen culture | the top 5 concerns of great managing partners | partners: when to speak up and when to shut up
exclusively for pro members. log in here or 2022世界杯足球排名 today.
there are two messages here, one obvious and one that is deeper.
read more →
7 points of a well-crafted partner buyout agreement
succession planning is a daily partner duty.
by marc rosenberg
the rosenberg practice management library
cpa firm partner retirement/buyout plans have always created angst among partners.
more: take yoda’s advice on strategic planning | buyers name 20 big merger turnoffs | why governing by partner ownership is bound to fail | the top 5 concerns of great managing partners
prospective and young partners often question the plans because they see themselves paying into some sort of ponzi scheme, wondering if their payday will ever come. the departure of impactful retiring partners seems to jeopardize the future viability and hence, value of the firm.
read more →
take yoda’s advice on strategic planning
seven questions to determine whether you’re ready.
by marc rosenberg
the rosenberg practice management library
mergers: what could go wrong?
m&a veterans cite culture, personalities, and values as top deal-breakers.
by 卡塔尔世界杯常规比赛时间 research
why do firms merge? why do sellers want to sell, buyers to buy? what attracts them? what worries them? what can go wrong?
and how does that affect you?
the new 卡塔尔世界杯常规比赛时间 mergers & acquisitions survey, conducted in conjunction with capstone marketing, has some of the answers.
and who better to answer than practitioners who have been through the merger or acquisition process?
the survey, which delves into the attitudes and behaviors of the m&a phenomenon like no other study, is yielding a raft of surprising findings.
join the survey. get the results.
the finance side of goals and compensation
remember the “one firm” concept is at the core of this discussion.
by tommye barie
the succession insitute
previously we reviewed the goal-setting process, including which person or group should orchestrate which parts of it. now we will conclude the discussion by walking through the financial side of assessing goal accomplishment and how it works when considering actual firm profits.
more: the partner comp battleground | if you don’t eat what you kill, what do you eat? | 3 ways to emphasize the one-firm concept | 8 steps for a successful change process | building competency on every level | change happens: how to master it.
let’s start with some statistics from our latest succession planning survey, which we did in partnership with the aicpa’s pcps. the following tables show information regarding compensation systems, broken down by size of firm (by full-time equivalent [ftes] which includes everyone, from administrative to staff to partner): read more →
the partner comp battleground
who decides and how, including setting and monitoring goals.
by tommye barie
the succession insitute
previously we reviewed the goal-setting process, introduced how the managing partner should orchestrate the partner goal-setting process and discussed why the goals should be based on normal expectations of any partner rather than on the exceptional performance of a specific partner. now let’s discuss who is in charge of what parts of the compensation-setting process and more.
more: if you don’t eat what you kill, what do you eat? | 3 ways to emphasize the one-firm concept | 8 steps for a successful change process | building competency on every level | change happens: how to master it.
who’s in charge of what parts of compensation?
once the decision has been made to implement systemic changes to hold partners accountable to specific performance expectations rather just relying on everyone to put in a self-proclaimed “good day’s work,” the next battleground is how compensation is determined and who is responsible for which parts of the process.
if you don’t eat what you kill, what do you eat?
clearing up confusion over partner compensation in the one-firm concept. bonus: the four phases of goal-setting.
by bill reeb
we are picking up this column with the goal-setting process. after we have this discussion we can move to the next phase, which is reviewing how we would evaluate the actual performance outlined below, and how that performance assessment would impact pay, assuming the firm was on budget, over budget, or under budget.
more: 3 ways to emphasize the one-firm concept | 8 steps for a successful change process | building competency on every level | change happens: how to master it.
accountability for partners
for partners, accountability is best described as having a system in place that rewards partners for following processes and procedures, living up to their roles and responsibilities, and implementing the firm’s strategy. and on the other side, it provides sanctions when partners don’t do the above.
read more →
3 ways to emphasize the one-firm concept
… and 8 likely obstacles.
by bill reeb
in the past, we’ve written a multi-part series on partner compensation that started out discussing the following:
- the eat what you kill (ewyk) model of operations and how that impacts partner compensation
- the most common criteria used in ewyk partner compensation formulas
- the building a village (bav), or one-firm concept, model of operations and why partner voting has to be addressed to clear the way for changing partner compensation
- addressing the retirement issue and separating it from partner compensation so that you are finally positioned to create a bav partner compensation model
more bill reeb: 8 steps for a successful change process | building competency on every level | change happens: how to master it.
exclusively for pro members. log in here or 2022世界杯足球排名 today.
based on our experience, these are all issues that need to be discussed and addressed before a firm will make the decision to move from an ewyk to a bav compensation system.
read more →
why governing by partner ownership is bound to fail
5 major issues that firm agreements must address.
by marc rosenberg
the rosenberg practice management library
getting sick and tired of ownership percentage driving your partner decisions?
i sure am.
more: 6 ways to retain nextgen staff | how to develop a truly progressive nextgen culture | the top 5 concerns of great managing partners | partners: when to speak up and when to shut up
why? imagine you entered into an ownership position in a cpa firm in your mid-30s. over the next 30 years or so, you’ll be paid your share of millions of dollars. do you want your share to be based on judgments that are rational and logical, or unfair and lacking in common sense?
read more →
six ways to retain nextgen staff
68% of young employees are job hunting in the next year. how about yours?
by marc rosenberg
the rosenberg practice management library
our chicago roundtable, consisting of the most prestigious and largest local cpa firms in the windy city, convened a conference that brought the house down. jennifer wilson, who leads convergence coaching, was our speaker.
more: how to develop a truly progressive nextgen culture | the top 5 concerns of great managing partners | partners: when to speak up and when to shut up
having the right staff and using people in the right way – highest and best use – and keeping your best people is still the #1 challenge that firms face. jen addressed this issue with magnum force.
read more →
how to develop a truly progressive nextgen culture
why following up is so important.
by marc rosenberg
the rosenberg practice management library
earlier this year our chicago roundtable, consisting of the most prestigious and largest local cpa firms in the windy city, convened a conference that brought the house down. our goal was (a) to address the #1 challenge to cpa firms today – managing all staff issues from recruiting to retention to developing nextgen leaders and (b) to bring in the #1 authority on these issues to speak to us about state-of-the-art practices.
more: the top 5 concerns of great managing partners | partners: when to speak up and when to shut up
jennifer wilson was our speaker and wow, did she hit it out of the park! jen, who leads convergence coaching, is regularly recognized by “accounting today” as one of the top 100 most influential people in accounting and by “inside public accounting” as one of the most recommended consultants to cpa firms.
read more →