compensation is no way to manage partners

man counting $100 bills into three piles6 ways to combine it with personal interventions.

by marc rosenberg
the role of the managing partner

too many firms’ primary way to manage partner performance and hold them accountable is with compensation. their reasoning is this:

more: make sure partners focus on two things | manage partners with goal setting | overarching authority that managing partners must have | herding cats: advice for managing partners
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if partners perform well, they will see their reward in the form of higher compensation. if partners perform below expectations, they will get the message in the form of a disappointing compensation number. other methods are not necessary. it’s all about the money.
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4 big issues that firms face

purple no. 4 billiard ballplus: how the merger picture hasn’t changed.

by marc rosenberg
the rosenberg map survey

an extraordinarily perfect storm was experienced by cpa firms in 2020: the endless tax season plus the virus. in mid-july, five months after the virus’s onset, no one knew anything for sure going forward – neither the science of the virus and people’s health nor the economic impact of the virus on the business world.

more: pandemic highlights value of digital files | remote work success helps solve staffing shortages | you like being remote, but what about your clients? | covid-19 shakes up m&a activity | we adapted to remote work … now what?
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here is data from a survey we took of 61 cpa firms in mid-june. virtually all firms had annual revenue of $35 million or less, with the average being about $10 million. it is important to understand these firm sizes because the top 25-50 firms were making more drastic operational moves (mainly layoffs and partner draw reductions) than typical local cpa firms.
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make sure partners focus on two things

mentor showing project presentation to mentee9 ways to help partners manage their clients.

by marc rosenberg
the role of the managing partner

cpa firm partners have a tendency to get sucked in to many activities. there is a macho aspect to their personalities that says, “bring it on, i can handle it.”

more: manage partners with goal setting | clarify partner expectations | how the managing partner manages the partners | overarching authority that managing partners must have | exceptional managing partners offer their advice | why management is the #1 key to the firm’s success
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no. no. no. they cannot handle it well. the notion that multitasking is an efficient, desirable mode of conduct is pure myth and has been debunked by numerous studies.
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manage partners with goal setting

includes 20 sample goals.

by marc rosenberg
the role of the managing partner

the purposes of goal setting are to help the firm achieve its overall goals and to help individuals achieve their performance goals.

more: clarify partner expectations | how the managing partner manages the partners | overarching authority that managing partners must have | exceptional managing partners offer their advice | why management is the #1 key to the firm’s success | herding cats: advice for managing partners
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when individuals and organizations create goals, put them in writing, assign deadlines, follow up and establish a means of accountability for achieving the goals, they are more likely to achieve the goals than if they merely talk about the goals or have the goals in mind.
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clarify partner expectations

two women talkingit makes managing them easier.

by marc rosenberg
the role of the managing partner

over the years, during countless partner interviews, many have told me they aren’t sure of their role and what is expected of them.

more: how the managing partner manages the partners | overarching authority that managing partners must have | exceptional managing partners offer their advice | why management is the #1 key to the firm’s success | herding cats: advice for managing partners
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

here is a basic, universal technique for improving performance and providing feedback:
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