“partner seniors” just won’t do.
by marc rosenberg
the rosenberg practice management library
a great episode from an old, award-winning tv show, “m*a*s*h,” is relevant here. the two stars, hawkeye and trapper, are captains and doctors serving in the korean war. they drive to a nearby military base on business. they have brought with them the timid but highly effective company clerk, corporal radar o’reilly.
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the mischievous captains decide to stop at an officers’ club for a drink, but radar tells them he can’t enter because he’s not an officer. hawkeye, ever the schemer, comes up with a solution. he takes one of his captain’s bars and pins it on radar’s lapel, and the threesome enter the club.
while they are standing at the bar, sipping their drinks, radar realizes he is the recipient of an angry stare from a regular army colonel and prays to quickly become invisible. alas, the colonel confronts radar and tells him he’s not allowed in the bar because he’s only a corporal. hawkeye immediately comes to radar’s defense and politely but authoritatively informs the gullible colonel that radar is the subject of the army’s experimentation with a new rank: a corporal-captain. the skeptical colonel raises his eyebrows, not quite satisfied with hawkeye’s explanation, but decides not to pursue the matter.
one takeaway is that partners, not “partner seniors,” should be drivers of their firm. in most cases, firms should refrain from extending partnership offers to smart, capable, valuable, hard-working staff who function fantastically as seniors or managers but lack the leadership skills needed to drive the firm: bringing in business, leading, mentoring staff and inspiring client confidence.
new partners need to be impact players
an impact player in sports is more than just a productive, loyal member of the team. the team relies on this player to be a consistent winner.
i’ve always liked this term to describe what a partner in a cpa firm should be. here are how some thought leaders i’ve worked with in the cpa profession describe an impact player:
- “it’s critical to see that the hard work it took to earn the partner promotion doesn’t stop when one becomes a partner. it’s just the beginning of a new race. it’s the responsibility of new partners to bring up the next generation of partners behind them.” (al kutchins, founder and co-managing partner of krd, chicago)
- an impact player keeps the firm relevant. never accepts the status quo. is always looking to innovate and willing to change, even if he or she doesn’t have a specific management position in the firm.
- no partner should ever take a neutral position on an issue of controversy within the firm. i’ve always hated surveys that provide people with 5-point rating systems with 3 being neutral because people have a natural tendency to be risk-averse and give mostly 3’s and 4’s. but everyone has an opinion on every issue. if you’re a partner, you should. there is a tendency for new partners to shut up, follow the older partners’ lead and not question things. but this is a big mistake. it’s the new partners who are in the best place to shake things up. (paraphrased from jennifer wilson of convergencecoaching)
- cpa firms have a strong tendency to be like most other firms, doing little to differentiate themselves from the competition. again, it’s the new partners who need to attack this lethargy and make their firm stand out.
- when discussing the promotion to partner with managers, the firm needs to make a compelling case for why it’s better to become a partner at the firm instead of starting their own firm. (angie grissom, the rainmaker companies)
- “let new partners lead. keep them engaged.” (grissom)
- “if you stay in a nuthouse, you’re nuts.” (gale crosley, crosley company) i loved this the first time i heard gale say it. new partners can’t possibly know the inside scoop about the firm’s finances, the partners’ performance and productivity, their true personalities, the firm’s culture, the relationships between the partners and big problems in the firm. many partners are in for a rude awakening during their first year or two as partner when they learn these things firsthand. my reading of gale’s quote is that if a partner sees that the firm is operating in a dysfunctional manner (the nuthouse), it’s up to that partner to do something about it. if the partner does nothing and chooses to stay nonetheless, he or she is nuts too, or soon will be.
announcing and celebrating a new partner
when all is said and done, one of the most enjoyable parts of bringing in a new partner is celebrating the occasion. one way firms do this is through making a public announcement that they are admitting a new partner. as a bonus, this doubles as an excellent marketing opportunity for the firm.
new partner announcements should be made to celebrate both non-equity and equity partners. there is rarely mention outside the partner group of a non-equity partner movement to equity partner.
some tips for making your new partner announcement:
- get an updated headshot of the new partner.
- gather a list of notable achievements and practice areas the partner works in.
- create a written announcement that can be published to your website and local news and business journals and distributed to clients. include the headshot and notable achievements. if the new partner has a practice area the firm wants to promote, all the better.
- create and share related social media posts.
if the announcements are done properly, they should make readers think, “wow, this firm is really going places. it continues to develop great new talent, as evidenced by these striking young men and women it has chosen as partners.”
in addition to the public announcement, an internal celebration is in order. firm practices vary widely on this, but you may want to consider:
- a special internal announcement preceding the external announcement
- a party at the office or a more extravagant meal out for selected individuals
- a meaningful gift to the new partner to acknowledge this milestone achievement
partner promotions are a really big deal to all stakeholders: clients, staff, the community, the new partner’s family and most of all, to the new partner. the life of a partner at a cpa firm can be pretty humdrum at times. new partner announcements don’t happen every day. use this as a cause for celebration – and maybe a little bragging about the new partner and the firm.