Planning a Self-Run Retreat Rex Gatto, Ph.D. Gatto Associates, LLC 412-344-2277 .
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Transcript of Planning a Self-Run Retreat Rex Gatto, Ph.D. Gatto Associates, LLC 412-344-2277 .
Questions
Are partners ready for an Are partners ready for an Advancement meeting?Advancement meeting?
Is there a willingness to be open Is there a willingness to be open and express and listen to ideas?and express and listen to ideas?
Will partners be held accountable to Will partners be held accountable to take action based on the take action based on the Advancement meeting?Advancement meeting?
Questions
Willingness to bring up difficult issues and working Willingness to bring up difficult issues and working through deadlocked issues (partners face each other)through deadlocked issues (partners face each other)
Identifying the right people to lead the firmIdentifying the right people to lead the firm
Discussing staff’s readiness for: promotion, Discussing staff’s readiness for: promotion, development and those who need to leave the firmdevelopment and those who need to leave the firm
Why Hold a firm Advancement ?
Continue to ensure partners are doing the Continue to ensure partners are doing the right thingsright things
Address serious firm issues or problemsAddress serious firm issues or problems
Creatively address issues togetherCreatively address issues together
Make decisions about the firm and or staffMake decisions about the firm and or staff
CPECPE
Why Hold a firm Advancement ? #2
Establish a plan for successEstablish a plan for success
Discuss and focus on needed changeDiscuss and focus on needed change
Improve relationships within the firmImprove relationships within the firm
Steer the firm toward the Steer the firm toward the North StarNorth Star
Do not Hold a firm Advancement ?
If you are:If you are:
Having a meeting because we always have (play golf)Having a meeting because we always have (play golf)
Making a partner problem a firm problemMaking a partner problem a firm problem
Permitting the managing partner to make a day-long Permitting the managing partner to make a day-long presentationpresentation
Meeting to reward partners for a profitable yearMeeting to reward partners for a profitable year
Creating a hidden agenda (blindside)Creating a hidden agenda (blindside)
Not going to follow upNot going to follow up
Logistics and preparation
Create a Meeting Advancement Committee (MAC)Create a Meeting Advancement Committee (MAC)
Ensure the purpose for the Firm Advance Meeting is Ensure the purpose for the Firm Advance Meeting is ClearClear
Establish meeting expectations and results (partners, Establish meeting expectations and results (partners, managers, staff and admin) managers, staff and admin)
Establish whether or not an outside facilitator is neededEstablish whether or not an outside facilitator is needed
Collect information about the firm and or partnersCollect information about the firm and or partners
Find the right location ( meeting space, dinner, Find the right location ( meeting space, dinner, networking and events)networking and events)
Establish a clear Agenda with topics and time (ensure Establish a clear Agenda with topics and time (ensure partners understand the common purpose for this partners understand the common purpose for this meeting)meeting)
Logistics and preparation #2
Appoint topic leaders and indicate their Appoint topic leaders and indicate their responsibilitiesresponsibilities
Ensure topics will be adequately covered and Ensure topics will be adequately covered and discusseddiscussed
MAC should discuss possible outcomes, ramifications MAC should discuss possible outcomes, ramifications and consequences of topics (i.e. merger, staff)and consequences of topics (i.e. merger, staff)
Send the agenda, expectations and all info Send the agenda, expectations and all info (facilitator’s background) to everyone in the firm (no (facilitator’s background) to everyone in the firm (no secrets)secrets)
Record keeping process, how will notes be kept and Record keeping process, how will notes be kept and memorialized (flip chart or index cards)memorialized (flip chart or index cards)
Logistics and preparation #3
Meeting process: large and small discussion groups Meeting process: large and small discussion groups and reporting back (flip chart or index cards), identify and reporting back (flip chart or index cards), identify points of agreement and disagreementpoints of agreement and disagreement
Hold the meeting, collect and memorialize notes, Hold the meeting, collect and memorialize notes, debrief and send general discussion outcomes to debrief and send general discussion outcomes to everyone in the firmeveryone in the firm
Partners communicate to staff what was Partners communicate to staff what was accomplished (if this is playing golf then don’t call it a accomplished (if this is playing golf then don’t call it a meeting)meeting)
Accountability and follow up actionsAccountability and follow up actions
Collecting information
Write goals for the Advancement Write goals for the Advancement meeting (what will be the results – meeting (what will be the results – measured – projected outcomes)measured – projected outcomes)
Use a survey to assess the present Use a survey to assess the present levels of performance within the firm levels of performance within the firm
Use a 360˚partner assessment to Use a 360˚partner assessment to measure partner performancemeasure partner performance
Collecting information #2
Compile all of the reported data, write Compile all of the reported data, write a summary prior to the advancement a summary prior to the advancement meetingmeeting
Ask for strengths and areas of Ask for strengths and areas of developmentdevelopment
Identify follow up action for partners, Identify follow up action for partners, committees and nichescommittees and niches
Is the firm ready for growth?Is the firm ready for growth?
Let’s Explore
We will discuss each of the following We will discuss each of the following pointspoints
Goals Goals
Firm SurveyFirm Survey
Partner 360˚ feedbackPartner 360˚ feedback
Data on the firm (CPA affiliate Data on the firm (CPA affiliate association)association)
Follow up actionFollow up action
Goals
Succession planning (developing future leaders, Succession planning (developing future leaders, present leadership)present leadership)
Find and retain the right people for our firmFind and retain the right people for our firm
Marketing – Practice DevelopmentMarketing – Practice Development
Managing engagements (performance and Managing engagements (performance and efficiency, WIP)efficiency, WIP)
Partner accountabilityPartner accountability
Clients (who should we keep)Clients (who should we keep)
Action PlanAction Plan
What will you now What will you now do differently?do differently?
What actions can What actions can you maintain or you maintain or enhance?enhance?
What actions can What actions can you change?you change?
Three Stages to Build a Three Stages to Build a Firm CultureFirm Culture
Firms can be placed in one or more Firms can be placed in one or more of the three stages of firm of the three stages of firm development.development.
Think of your firm: in which stage or Think of your firm: in which stage or combination of stages is your firm?combination of stages is your firm?
It is important to know which stage It is important to know which stage your firm is in to plan for your your firm is in to plan for your meeting and hold effective meeting and hold effective discussions.discussions.
Three Stages to Build a Three Stages to Build a Firm CultureFirm Culture
Stage 1: Improving the firmStage 1: Improving the firm
Improving the firm through Improving the firm through planning and hiring the right planning and hiring the right people; planning for growth people; planning for growth
Energizing the firm through: Energizing the firm through: the ability to develop people the ability to develop people and inspire them to move and inspire them to move mountains mountains
Stage 1 ActionsStage 1 Actions
Stage 1: Improving the firmStage 1: Improving the firm
Set clear firm goals for the next Set clear firm goals for the next year –communicate quarterlyyear –communicate quarterly
Each partner is to submit 3 areas Each partner is to submit 3 areas of developmentof development
Have continual updates and Have continual updates and individual and firm individual and firm accomplishmentsaccomplishments
3 Stages to Build a Firm 3 Stages to Build a Firm CultureCulture
Stage 2: Firm culture is strongStage 2: Firm culture is strong
Through each partner’s work, Through each partner’s work, a one-culture firm is createda one-culture firm is created
Structure of the firm is Structure of the firm is established and working well established and working well (what and how of your work)(what and how of your work)
Stage 2 ActionsStage 2 Actions
Stage 2: Firm culture strongStage 2: Firm culture strong
Succession plan is establishedSuccession plan is established
Clarify niche goals and how Clarify niche goals and how they support firm goalsthey support firm goals
Focus on client developmentFocus on client development
3 Stages to Build a Firm 3 Stages to Build a Firm CultureCulture
Stage 3: Firm is GrowingStage 3: Firm is Growing
Growth and development of Growth and development of all the people in the firm; all the people in the firm; developing future leaders of developing future leaders of the firm (mentoring)the firm (mentoring)
Morale within the firm is high; Morale within the firm is high; firm is profitablefirm is profitable
Stage 3 ActionsStage 3 Actions
Stage 3: Firm growthStage 3: Firm growth
Look for expansion opportunitiesLook for expansion opportunities
Ensure the partners are Ensure the partners are continually and consistently using continually and consistently using feedback feedback
Focus and capitalize on Focus and capitalize on maintaining the strong firm maintaining the strong firm presencepresence
Discussing the Four Key Initiatives within a Firm
Individuals•Talent•Personality•Initiative•Business Opportunities•Skills
Development•Job engagement experience•CPE•Assess skills•Practice Development•Communication /morale
Partners•Direction of the firm•Making decisions•Optimize firm - investment•Leadership/role model•Business ability
Firm•Community relationships•Retention of right people•Profitability•Niche – staffed correctly•Culture
Partners as Role Models
Leadership, not be a managerLeadership, not be a manager
Work Life BalanceWork Life Balance
CompetentCompetent
CompassionCompassion
ConfidenceConfidence
Ethical (integrity)Ethical (integrity)
Discussion on“Why Staff Stay with a Firm”
A strong relationship between partner and A strong relationship between partner and staff, loyalty, job satisfaction and staff, loyalty, job satisfaction and retention; and ethics, values, and retention; and ethics, values, and integrityintegrity
Review reasons given to join your firmReview reasons given to join your firm
General responsesGeneral responses
Values and culture 58%Values and culture 58%
Compensation 23%Compensation 23%
Career and Succession Planning
Know each individual’s abilities (me)Know each individual’s abilities (me)
Look for opportunities for your firm (we)Look for opportunities for your firm (we)
Match staff careers to what the firm offers (we)Match staff careers to what the firm offers (we)
Identify staff readiness (firm growth)Identify staff readiness (firm growth)
Partners continually talk with partners (we)Partners continually talk with partners (we)
Look at alternative scenarios for the career Look at alternative scenarios for the career plansplans
Create a Talent Balance (technical and people)Create a Talent Balance (technical and people)
Competitive Edge for your firm
Open lines of communicationOpen lines of communication
Have better understanding of Have better understanding of perceptions and sentiments of perceptions and sentiments of managers and staffmanagers and staff
Ensure key people are retainedEnsure key people are retained
Continue desired firm cultureContinue desired firm culture
Create greater success in development Create greater success in development of future leadersof future leaders
Why a firm Keeps staff?Why a firm Keeps staff?The Staff needs to:
Develop people skills
Develop leadership skills
Learn to manage a diverse workforce
Retain and motivate the right people
Measuring the Results Measuring the Results
Did the Advancement Meeting:Did the Advancement Meeting:
Help change the firm’s strategic direction?Help change the firm’s strategic direction?
Resolve conflicts or address confusion?Resolve conflicts or address confusion?
Create solutions to address problems?Create solutions to address problems?
Put partners on the same page?Put partners on the same page?
Improve working relationshipsImprove working relationships
Measuring the Results Measuring the Results #2#2
Did the Advancement Meeting:Did the Advancement Meeting:
Give partners the opportunity to Give partners the opportunity to demonstrate maturity and that they should demonstrate maturity and that they should continue as a partners in the firm?continue as a partners in the firm?
Create a common bond, language, point of Create a common bond, language, point of view or framework established through view or framework established through engaging conversation? Did people listen?engaging conversation? Did people listen?
Establish a clear collective vision for the Establish a clear collective vision for the firm?firm?
Follow up actionsFollow up actionsPresent and future leader development is Present and future leader development is
on goingon going
Responsibilities focus on AccountabilityResponsibilities focus on Accountability
Achieve a strategic, competitive edge in Achieve a strategic, competitive edge in the marketplace through your peoplethe marketplace through your people
Develop a talent pool for succession Develop a talent pool for succession planning and firm consistencyplanning and firm consistency
Retain and motivate your staff and adminRetain and motivate your staff and admin
Empower staff developmentEmpower staff development
Ask questions, listen and empathize Ask questions, listen and empathize key actionskey actions
Reinvent the firm through mentoring; Reinvent the firm through mentoring; continue to focus on successcontinue to focus on success
Leverage the team processLeverage the team process
Mentor-CoachMentor-Coach
Follow up actions #2
Partner and staff should have an Partner and staff should have an opportunity to:opportunity to:
Develop a career planDevelop a career plan
Develop an enhanced work plan (job Develop an enhanced work plan (job enrichment)enrichment)
Be rewarded the right wayBe rewarded the right way
Personnel Development
Benefits From Firm Benefits From Firm AdvancementAdvancement
Benefits are identified Benefits are identified in three key areas:in three key areas:
Continual firm growthContinual firm growth
Partners work well Partners work well together and lead the together and lead the firmfirm
Staff is developing Staff is developing and feel a part of the and feel a part of the firmfirm
Benefits to staff Benefits to staff
Enhance communication skillsEnhance communication skills
Build rapportBuild rapport
Develop sensitivity towards othersDevelop sensitivity towards others
Rethink and re-experience the firm Rethink and re-experience the firm with renewed spiritwith renewed spirit
Support and develop each otherSupport and develop each other
Benefits to the firmBenefits to the firm
Reduce turnover of effective, right Reduce turnover of effective, right employeesemployees
Strengthen the firm cultureStrengthen the firm culture
Pass core values from generation Pass core values from generation to generationto generation
Achieve cohesiveness and Achieve cohesiveness and consistency in the firmconsistency in the firm
Develop future leadersDevelop future leaders
Benefits to the firmBenefits to the firmEstablish goalsEstablish goals
Improve performanceImprove performance
Build rapport and teamwork in each niche Build rapport and teamwork in each niche or department.or department.
Have a greater sense of involvement and Have a greater sense of involvement and belonging to the firm – increased job belonging to the firm – increased job related satisfactionrelated satisfaction
Be provided with a safe environment for Be provided with a safe environment for growth, learning and developmentgrowth, learning and development
Action PlannerAction Planner
Set clear and measurable GoalsSet clear and measurable Goals
Plan for the unknownPlan for the unknown
Weekly self-updatesWeekly self-updates
Career PlanCareer Plan
Coaching phasesCoaching phases
SummarySummary
Purpose for the Advancement Purpose for the Advancement Meeting is to create a direction for Meeting is to create a direction for the firmthe firm
Ensure the firm strengths and Ensure the firm strengths and development process are development process are established and clearestablished and clear
Longevity of the firm is assuredLongevity of the firm is assured
Network, relax and have funNetwork, relax and have fun