364 search results for marc rosenberg

partner pay: why your book of business isn’t worth as much

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young businessman walking on bungee cord between question mark and dollar signfour reasons behind the decline. plus the impact on buyouts and retirements.

by marc rosenberg
partner comp: art & science

i’m sure many people see the title of this post as a form of practice management heresy.

more on partner compensation: 5 other systems for paying partners | 3 non-performance-based comp systems | 3 subjective compensation systems | partner compensation 101 | what partners earn and how they earn it | partner compensation: an art, not a science | why most partner comp systems are performance-based

the message is: the weighting of book of business is trending from being the “end-all” in allocating partner income, or close to it, to a factor that is still important, but less so.
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15 sure-fire ways to develop staff into partners

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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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partner pay: open vs. closed compensation systems

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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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staff best practices … for the firm

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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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5 other systems for paying partners

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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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how to merge sole practitioners

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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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staff likes and dislikes about the accounting profession

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three young businesspeople talkingplus 28 facilitator questions before discussing staff issues at a retreat.

by marc rosenberg
cpa firm retreats

while everyone has their own thoughts, what staff like the most and least about their jobs have some common threads.

more on partner retreats for pro members: 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? | 18 essential management questions to cover at a retreat | how to decide who decides what | management styles: partnership vs. corporate | 30 marketing and growth questions to cover at a retreat | how marketing for cpa firms is different | why create a marketing plan? | thinking of merging? discuss it at a retreat | how to take action after a retreat | 12 simple rules for a retreat

what staff like the most read more →

3 non-performance-based comp systems

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businessman sitting on scales with stack of coins in other trayhint: they don’t eliminate arguments.

by marc rosenberg
partner comp: art & science

the common thread to non-performance-based systems is that partners’ compensation is not based on their performance, but on other factors that have nothing to do with performance. there are three main systems of this type:

more on partner compensation: the 3 best partner compensation formulas | why firms use partner comp formulas | 3 tiers of compensation | partner compensation 101| 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

  • ownership percentage
  • pay all partners equally, or nearly so
  • seniority

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