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15 sure-fire ways to develop staff into partners

one person helping another to the top of a mountain at sunsetbonus checklist: 23 best practices for training.

by marc rosenberg
cpa firm retreats

how do firms develop staff into partners?

more on retreats: 25 ways to turn good firms into great firms | partner buyout 101 | 27 tough questions every firm needs to address | make more money | system vs. system: partner compensation best practices | 10 benchmarking missteps | how to address partner compensation at a retreat | partner accountability: how and for what?

here are 15 surefire ways:
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pay & compensation

partner pay: open vs. closed compensation systems

businessman ogling money over another's shoulderboth have advantages.

by marc rosenberg
partner comp: art & science

“if people are concerned about their absolute level of compensation, then they can be satisfied. however, if their focus is on relative standing, then they can never be satisfied.”

– andrew grove, former chairman, intel

an open compensation system is one in which all partners know the earnings of all partners.

more on partner compensation: 5 other systems for paying partners | 3 non-performance-based comp systems | 3 subjective compensation systems | partner compensation 101 | how partners view compensation: it’s not all about the money | why most partner comp systems are performance-based

a closed system is one in which a limited number of partners are privy to this information. in closed systems, the only partners with access to all partners’ income are usually the managing partner, the compensation committee and/or the executive committee.
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marketing & sales

staff best practices … for the firm

woman training man at computerplus 12 mentoring do’s and don’ts.

by marc rosenberg
cpa firm retreats

if you asked your staff for firm best practices, what would they say?

more on retreats: 25 ways to turn good firms into great firms | 27 tough questions every firm needs to address | make more money | why create a marketing plan? | how to take action after a retreat | 12 simple rules for a retreat | leave your retreat with a to do list | retreats are no place for clowns | who should participate in a retreat? | retreat logistics: how long, what kind? | why do cpa firms conduct retreats?

my thoughts:
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pay & compensation

5 other systems for paying partners

money falling from the sky; moneyon whitewhy balanced scorecard is mbo in new clothing.

by marc rosenberg
partner comp: art & science

there are many partner compensation formulas, some performance-based and some not, some more subjective than others.

more on partner compensation: 3 non-performance-based comp systems | the 3 best partner compensation formulas | 11 points in designing a partner comp system | what partners earn and how they earn it | partner compensation: an art, not a science | how partners view compensation: it’s not all about the money | why most partner comp systems are performance-based

the systems below are less common than others, but some firms are attracted to them, especially small firms.
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mergers & acquisitions

how to merge sole practitioners

two businessmen shaking hands21 issues to consider.

by marc rosenberg
cpa firm mergers: your complete guide

when considering a merger of sole practitioners, there are numerous critical issues to negotiate. twenty-one, in fact.

more on mergers: merging in smaller: what to ask | 12 reasons to merge in a smaller firm | 3 factors that always affect negotiations | mergers: assessing compatibility | case studies reveal potential loi issues | merger prep: getting to know you | plant seeds to turn up merger candidates | 15 can’t-skip merger terms to decide | mergers 101: when negotiations aren’t really negotiations

1. method/system for splitting the profits. keep in mind that if you devise a system that essentially revolves around making each solo a profit center, as if they still had their own firms, it will tend to discourage the two of you working together as one firm.
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