Succession Planning
Accounting Job SEO Checklist
This post is an excerpt from the Accountingfly eBook, “How to Write the Ultimate Accounting Job Posting.” This eBook will teach you how to write more engaging and actionable job postings. Click here to download. Before submitting your accounting job posting, consult this SEO checklist to make sure you’re maximizing traffic and visibility. You’ve used…
Read MoreFour Steps to Faster People Development
“Leadership, like swimming, cannot be learned by reading about it.” — Henry Mintzberg With the Baby Boomers (born 1946 to 1964) retiring at a clip of 10,000 per day, the skills transfer necessary to get the next generation ready to take over the reins is monumental. Most leaders have a limited amount of time available…
Read MoreWhat’s the Multiple?
Valuations in the sale of accounting firms have declined in the past few years as more and more Baby Boomer practitioners seek an external solution to their succession needs. The market is behaving in a standard way to supply and demand. In today’s market what is the right multiple if you are buying or selling…
Read MoreBuying Out Retiring Partners
Surveys tell us a huge percent of accounting firms are facing the prospects of partners retiring in the near future. In most cases, this is going to lead to the need for the firm to buy the equity of the retiring partner, usually in the form of paying out capital and retirement or deferred compensation…
Read MoreRecruiting Strategies for a Tight Labor Market
Most accounting firm partners have unrealistic expectations about hiring qualified CPAs. It’s not as simple as posting a job and getting applicants. The process takes much longer and costs more than most realize. If you want to recruit successfully, it’s important to put in the work and set realistic expectations. Although there are more college…
Read More5 Reasons to Leverage & Delegate Client Contact
The word “succession” is used daily in our industry. Whether discussing it strategically at an executive level and what it means for partners, reading it in an industry publication, or talking to rising leaders – the issues and conversations around succession are front and center in many firms. And we need to have serious dialogue…
Read MoreTying a Transition Plan for Retiring Partners to Your Partner Agreement
The valuation used to determine the terms for paying retired partners will never make sense unless you assume the firm will at least perform as well as it did before the partner retired. Some firms can never get comfortable with the concept of fixing the obligation to retired partners at the date of retirement. The…
Read MoreBuilding Your Bench for Succession – A Few Ideas to Help You
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 MoreThe First Step in Succession Planning-Assess Your Need for Replacement Partners
The first step in developing a plan for the internal succession of your partners is to develop an understanding of the nature and timing of their replacement. This will provide you with what you need to know for acquiring the necessary talent and developing viable successors. Start with when each partner is likely to relinquish…
Read MoreBuilding 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…
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