the partnership

paying part-time, work-at-home partners

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woman smiling with boy with backpackhow to handle perks, vesting and other issues.

by marc rosenberg
partner comp: art & science

among the unique partner compensation issues that arise at cpa firms are when partners choose to work part time.

more on partner compensation: how to pay non-equity partners | 3 rules for promotion to partner | should the mp be the highest paid partner? | integrating partner comp with strategic planning | partner pay: the declining importance of book of business | 3 non-performance-based comp systems | 3 subjective compensation systems | partner compensation 101 | how partners view compensation: it’s not all about the money

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the following chart summarizes how firms compensate two major types of part-time partners:
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30-item checklist: getting people to listen to you

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7 businesspeople in meeting

lessons in effective communication for partners and wanna-be partners.

by martin bissett
passport to partnership

the passport to partnership study collated a number of responses in a conversational style.

more on the passport to partnership: 3 questions to evaluate your firm culture | competence: more than technical skills | partnership: competence is just the foot in the door

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a couple examples really stood out as the first steps in effective communication: read more →

cpa firm partners: equity vs. non-equity

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apple and orange on a seesawand why you might need both.

by marc rosenberg
how to bring in new partners

there are reasons to have both equity and non-equity partners.

more on partnership: new partner vs. manager: what’s the difference? | 23 key provisions in a partner buyout | what does buy-in buy? | how to structure partner buy-in

browse all at partnerinsider.com

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let’s run down both and then look at a comparison.

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why communication matters so much

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two businessmen talking at officethe experts weigh in. hint: it’s not about you.

by martin bissett
passport to partnership

what does communication mean at the partner level?

more on the passport to partnership: 5 ways to get buy-in for firm culture | competence: more than technical skills | partnership: competence is just the foot in the door

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ask yourself and answer these questions when considering the current and future communication tactics that you’ll employ.
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new partner vs. manager: what’s the difference?

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smiling black businesswomanjob description: duties, voting, and non-solicitation.

by marc rosenberg

how are the duties and responsibilities of a new partner different from those of a manager?

more on partnership: 23 key provisions in a partner buyout | buyout: the flip side of buying in | research results: how firms pay new partners | what does buy-in buy? | how to structure partner buy-in | keys to bringing in new partners

 

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this is one of the grayest areas in bringing in new partners. common sense must prevail.
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3 rules for promotion to partner

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pocket moneyreward them, don’t discourage them.

by marc rosenberg
partner comp: art & science

three general philosophies should apply for all partner promotions:

more on partner compensation: the 8 basics for data-based partner performance evaluations | 5 types of partner evaluations | how large and small firms allocate income | partner pay: recapping the compensation systems | 5 other systems for paying partners | why firms use partner comp formulas

 

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

  • getting promoted in any business should be celebrated. in cpa firms, the promotion to partner is a career-making event, deserving of a nice promotion raise. a common range is 10-15 percent in the first year.

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are you driving your best partners crazy?

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businessman holding two papers with happy and angry face each on themthe best firms know another way

by august aquila

professionals loathe anything bureaucratic. but we know of many firms who ask their partners to account, in detail, for every minute of their time.

more on leadership:work together better in 11 steps | drop politics, be accountable | what makes a successful strategic plan? | innovate or die | partners love, hate leadership | 8 ways leaders destroy firms | how to combine two firms after merger: carefully

yellow_key_clip_art-e1375897299811-16p-hiexclusively for pro members. log in here or 2022世界杯足球排名 today.

to ask high-need-for-achievement professionals at the top of their field to provide what, to them, is bureaucratic data immediately implies a complete lack of trust and respect for their expertise and their position. it is simply a motivational disaster, which distances the partners from the firm. partners know that they have to account for their time but we know too many firms that, often at the behest of the finance function, ask for a level of specificity that drives the partners to distraction.
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best practices for one-on-one communication

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4 winning habits of top accountants.

component parts of how the other person perceives your in-person communication
component parts of how the other person perceives your in-person communication

by martin bissett

i’ve had the benefit of meeting, speaking and observing hundreds of very successful and unsuccessful partners over the last two decades and there is indeed a set of differentiating factors that set a partner apart from the chasing pack.

more on the passport to partnership: 3 questions to evaluate your firm culture | learn to read your firm’s culture | 5 ways to get buy-in for firm culture | competence: more than technical skills | experts advise what partnership takes | partnership: competence is just the foot in the door | are you partner material? maybe not

here are the four “best-selling behaviors” that i’ve observed:

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23 key provisions in a partner buyout

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handshake-1388361357w8dh9-150x150vesting, notice, clawback and other points to ponder.

by marc rosenberg
how to bring in new partners

in determining buyout, i have discussed several key points, such as:

more on partnership: buyout: the flip side of buying in | research results: how firms pay new partners | what does buy-in buy? | how to structure partner buy-in | keys to bringing in new partners

  • will the buyout be limited to capital only or will it include a goodwill provision? (ninety-five percent of all firms with retirement plans pay both.)
  • how will the goodwill be valued? the average goodwill valuation is roughly 80 percent of fees, although there are still many firms at 100 percent and many firms well below 80 percent.
  • how will an individual partner’s buyout amount be determined? two partner retirement benefit systems that you should consider are aav or average annual value, better described as “cumulative benefits,” and multiple of compensation, the most common method used by firms, especially those with six or more partners.

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why ‘walking together’ is so important

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three partners, one male and two female, walking and smiling outside a buildingpartners must show a unified front.

by robert j. lees, august j. aquila and derek klyhn
creating the effective partnership

in our work with managing partners, we always talk about the importance of the partners “walking together,” of sharing that common vision.

more on leadership for pro members: 7 warning signs for your firm | the checks and balances your firm needs | don’t weed out the roses | back to basics: 25 ways to grow your practice | 3 ways to halt a poor leader | 8 questions that staff ask in a merger | 8 financial ducks to line up now

but if the partners are to share the vision, they have to play an active part in determining the firm’s direction – and, critically, how it’s going to get there.
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develop the partners you already have

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seven businesspeople having discussion at tableare your expectations realistic?

by domenick j. esposito
8 steps to great

once you have attracted a new partner or a lateral, the next question is: “what do i need to do to develop my existing partners?”

more on strategic planning: 3 tools to boost your metrics | start with sound firm governance, economics | as tax season ends, strategic planning seasons begins | learning to ‘run with the big dogs’

here is where i find so many ceos, managing partners and other senior partners falling short.
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7 levels of communication management

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chart showing passport to partnership's 7 levels of communication management4 reasons that senior managers struggle.

by martin bissett

ultimately, when we have to interact with clients, subordinates, superiors or peers, the questions are always the same: who do i need to deliver this information to and what approach would they respond most favorably to?

more on the passport to partnership: 3 questions to evaluate your firm culture | learn to read your firm’s culture | competence: more than technical skills | experts advise what partnership takes | partnership: competence is just the foot in the door

in arriving at “communication” we come to the most intangible of all the components to obtain a “passport to partnership.”
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buyout: the flip side of buying in

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three businessmen shaking handsplus 9 reasons why goodwill averages 80 percent.

by marc rosenberg
how to bring in new partners

one of the benefits that new partners receive in exchange for their buy-in is that they will receive a buyout when they retire.

more on partnership: what does buy-in buy? | how to structure partner buy-in | keys to bringing in new partners

the flip side of this is that they must agree to buy out the older partners when they retire. therefore, any plan for bringing in new partners must include a provision for a partner retirement/buyout plan.
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