how to use compensation to keep partners engaged

finding the perfect compensation system

by robert j. lees
and august j. aquila
creating the effective partnership

a critical element in keeping partners engaged is having a compensation system that rewards them for doing the right things. every compensation plan should be constructed to help the firm enhance its ability to service clients, achieve its strategic goals and attract, reward and retain the right people. if a firm’s plan does not accomplish these objectives, it needs to be restructured. read more →

six questions to test your partner team’s performance management systems

goals alone won’t won’t get you there.

by robert j. lees
and august j. aquila
creating the effective partnership

many leaders believe that people remain focused and committed to their performance goals if the goals are clear and compelling. however, that’s not our experience with accounting firms.

according to franklin covey’s “the 4 disciplines of execution: achieving your wildly important goals,” team engagement and accountability are necessary to maintain commitment to goals and we are firmly in this camp. read more →

how to get partners all on the same page

monthly meetings may be the solution.

by ed mendlowitzed mendlowitz cpa the practice doctor q and a
tax season opportunity guide

question: there seems to be disagreement among our partners on important issues in running our practice and we never seem to have time to discuss it or work things out. we are a three-partner firm with 15 employees and no one is designated as managing partner.

answer: a suggestion is to have monthly partner meetings out of the office and an annual retreat. both of these have been covered previously but i will add some new ideas here. read more →