Posts Tagged ‘Succession planning’

Growing and Developing Future Leaders is a Two-Way Street

Firms are at a crossroad when it comes to transitioning to the next generation of leaders. According to the CPACA study on Succession Readiness 48.3% of firms of all sizes cite “lack of future leadership talent” as a primary obstacle in their succession. While some partners believe there is a lack of leadership talent within…

Read More

A Winning Culture is an Intentional Culture

“People will typically be more enthusiastic where they feel a sense of belonging and see themselves as part of a community than they will in a workplace in which each person is left to his own devices” ― Alfie Kohn, Author Your firm’s culture is the essence of its being and the way it feels to work…

Read More

Eliminate The Mystery through Communication & Inclusion

When I begin to work with a new CPA firm client, one of the most common issues I encounter is the lack of open, honest, on-going communication between firm leadership and firm team members. In many firms, some leaders are still in the mindset that many of the management and partner topics need to confidential.…

Read More

Building Your Bench For Succession

Thousands of firms are working through the succession and retirement of senior partners and deciding along the way whether or not they can pull it off internally and stay independent. The single most important factor for success is what we see when we look over our shoulder – is the bench of people there to…

Read More

Can You Afford to Buy-out the Retiring Partners of Your Firm?

Many firms are struggling with the prospects of paying retirement buyout payments for their senior partners who will be retiring in the next few years. In some cases, several partners will be receiving retirement buyouts simultaneously. The financial burden can seem daunting. As we have emphasized in earlier blogs, make sure you first have the…

Read More

When Should You Commence the Execution of Your Succession Plan

A key factor in successful transition of clients, as a partner moves toward retirement, is how dependent the client has become on the individual, rather than dependent upon the firm.  In most firms, retirement benefits for partners are dependent upon the number of clients that remain with the firm. So, it is important that you…

Read More

Reluctant Leadership?

Partners often tell me that one of their number one succession concerns is who will ascend to partner.  The perception is that “there is no one interested in becoming a partner these days.”  Yet, when I talk to managers and senior managers (and even staff!), they are interested, but they don’t really know what means…

Read More