pay archives - page 18 of 31 - 卡塔尔世界杯常规比赛时间

partner retirement and the war for clients

january 12, 2016

bonus checklist: 8 best uses for a retiring partner.

by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute

once a firm is ready to phase out a partner in retirement, it’s time to move on to the client transition process. but this is the single most abused part of the entire succession process.

more on performance management: best practices for mandatory retirement | how retirement issues affect succession planning | 7 succession questions to ignore for now | how partner ratings factor into equity | the pitfalls of equity allocation and reallocation | cpa firm performance assessments: 15 core competencies, 21 questions | what having your employees’ backs means | 5 harmful management attitudes (and how to fix them)

the reason why this part of the process is the most abused is because both sides – the partner nearing mso (henceforth referred to as retiring partners or retired partners) and the remaining partners – are motivated to do the wrong things. for example, it is in the best interest of retiring partners to not transition their clients because if they don’t, the firm will need to keep them around to continue to work on them after mso. if this isn’t bad enough, because they did not transition their clients properly, the retired partners have a great deal of leverage since they are now entitled to their full retirement pay and still have control over some or most of their client base. this allows the retired partners to gain additional benefits from the partner group by basically reselling their clients to them again. unfortunately, this situation is more the norm than the exception.
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partner compensation: an art, not a science

december 27, 2015

by marc rosenberg

the 4 engines that drive management.

by marc rosenberg

the allocation of partner income is much more an art than a science. anyone who thinks otherwise is either naïve or has never been a partner whose income was subjected to an income allocation process.

more on partner compensation: how partners view compensation: it’s not all about the money | why most partner comp systems are performance-based

partner compensation is not a science. if allocating partner income were a science, it would be easy to concoct the perfect formula that factors in all relevant performance metrics, both tangible (production) and intangible (leadership, mentoring staff, loyalty, teamwork, etc.), producing results that would be considered fair and acceptable to most or all partners. there would be few arguments among the partners because they would feel the formula says it all and leaves nothing for debate.
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record pre-season hiring surge: ready for biggest tax season ever?

december 22, 2015

by 卡塔尔世界杯常规比赛时间 research

cpatrendlines jobs report tilt — join the survey. get the results.

new jobs pace sets stage for record-high revenues – or disastrous disappointment.

who’s leading the charge?
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by 卡塔尔世界杯常规比赛时间 research

tax and accounting industry growth is on a tear with no signs of slowing down, according to 卡塔尔世界杯常规比赛时间 sources.

in most segments, people are working less and earning more, with payroll a notable exception.

and new data show the industry gearing up for a huge tax season, with tax prep employment leaping 22.5 percent over the same period last year.

here 卡塔尔世界杯常规比赛时间 reports on:

current hiring trends in each of the bookkeeping, tax, payroll and cpa segments of the industry.
average hourly wages for key segments.
typical hours worked per week.
and trends concerning women in the accounting workforce.

best practices for mandatory retirement

december 16, 2015

by succession institute

the work retired partners should – and shouldn’t – do if they stay on.

by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute

once “fair” retirement benefits have been determined, for this moment in time, we can move on to the next step in building our succession plan. the reason i mention that we are simply putting stakes in the ground is because as we set additional stakes in the ground, those new stakes might require us to rethink a decision made when setting a previous stake.

more on performance management: how retirement issues affect succession planning | how partner ratings factor into equity | the pitfalls of equity allocation and reallocation | develop your employees or suffer the consequences

for example, if the firm later establishes premium perks for past owners who want to continue to work for the firm after sale of ownership, then that might require reassessing the retirement benefit calculation agreed to when setting that earlier stake (because in the end, the retirement benefit is about the whole package offered, not just one component).
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how retirement issues affect succession planning

december 8, 2015

by succession institute

if you believe your firm will be dysfunctional without you, now is the time to fix it.

by bill reeb, dominic cingoranelli, and tommye barie
the succession institute

when we take our clients through succession planning, eventually the focus turns to implementing the best practices for running a firm – but first we normally have to start with short-term retirement issues.

more on performance management: succession: the questions to care about | how partner ratings factor into equity | the pitfalls of equity allocation and reallocation | cpa firm performance assessments: 15 core competencies, 21 questions | what having your employees’ backs means

why? because typically you won’t get any buy-in for change until the partners have looked at whether the current retirement system is paying at least roughly a fair market value to the near-term retiring partners.

succession: the questions to care about

december 2, 2015

by succession institute

bonus checklists: 5 rules to govern a succession plan. 8 keys to an effective compensation system.

by bill reeb and dominic cingoranelli

we’ve seen a lot of frequently shared, misdirected advice on commonly discussed succession issues. we would rather stop focusing on symptoms and start focusing on resolving the root cause issues that a good succession plan should address.

more on performance management: 7 succession questions to ignore for now | hazards of not reallocating equity | develop your employees or suffer the consequences | how to target what skills to develop now | what having your employees’ backs means

our solution: the robust succession framework

first and foremost, good succession management is a function of good business operating practices. over and over, we find successful firms – including many that have even effectively retired partners in the past – that are overlooking some very important best practices.
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7 succession questions to ignore for now

november 24, 2015

by succession institute

there’s some misdirection in succession management out there.

by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute

you can’t go a week without seeing some article or blog focused on succession management and everyone seems to have a different opinion as to what is important when addressing succession. so, we thought it was time we challenged some of the more common misconceptions.

more on performance management: how partner ratings factor into equity | hazards of not reallocating equity | the pitfalls of equity allocation and reallocation | develop your employees or suffer the consequences | 5 harmful management attitudes (and how to fix them) | do cpa firms need management or leadership?

the first thing most authors want to focus on with succession is the development of future leaders. then the dialogue will shift quickly to mentoring programs, leadership training and more. well, it would be hypocritical for us to disagree with this because we actually develop and conduct these kinds of programs. however, training such as this is only valuable after many other issues are addressed first. so, while it is important, i guess the best phrase to describe this is “first things first,” and this is not first by any stretch of the imagination.

tax & accounting employment hits new highs

november 20, 2015

by 卡塔尔世界杯常规比赛时间 research

by 卡塔尔世界杯常规比赛时间

the number of employees in the accounting industry keeps climbing and toppling old records. the latest data from 卡塔尔世界杯常规比赛时间 shows more than 40% of firms are hiring.

the 卡塔尔世界杯常规比赛时间 careers and hiring outlook

today’s bonus question: what’s the most important trait or skill needed to succeed in the accounting business?

join the survey. get the results.

in this report, 卡塔尔世界杯常规比赛时间 covers:

current hiring trends in each of the cpa, tax, payroll and bookkeeping segments of the industry, indicating growth and shrinkage among sectors.
average hourly wages for key segments, with trends in employee pay rates.
typical hours worked per week, showing utilization and productivity.
trends concerning women in the workforce, including hiring rates.
including 25 charts and graphs

how partners view compensation: it’s not all about the money

november 17, 2015

by marc rosenberg

it’s more than a dollar figure – it’s a ranking.

by marc rosenberg

in an ideal world, partners could objectively discuss and debate the firm’s partner compensation system without regard for its impact on their individual earnings. but of course, we don’t live in an ideal world. it’s almost impossible for partners to weigh in on the system without thinking about its impact on their individual earnings.

more on partner compensation: why most partner comp systems are performance-based

this is the essence of why partner compensation is such a sensitive and critically important topic to partners.

nine factors for dividing the partner pie

november 17, 2015

by succession institute

how to decide who gets how much voting power.

by bill reeb and dominic cingoranelli

people who can lead, develop, train and supervise others are worth much more than those who can just make themselves faster, better and stronger.

equity ownership allocation is a critical success factor if you expect your firm to continue after you leave. for many firms, reallocation of equity ownership is or will be an important part of succession planning. while it can cause some anxiety for your owners’ group as you go through the process, it’s better to confront the issues now, to help ensure that your firm is in good hands after your leave. it’s not necessarily easy, but it must be addressed for long-term success.

more on performance management: hazards of not reallocating equity | the pitfalls of equity allocation and reallocation | develop your employees or suffer the consequences | cpa firm performance assessments: 15 core competencies, 21 questions | do cpa firms need management or leadership?

when you are deciding which partners should have more say (or less say, which is just as important), you need to consider issues such as whose judgment partners trust, who is pulling the wagon, who consistently acts in the firm’s best interest, or who is viewed as a current or future leader. with this in mind, here are nine areas to evaluate or each partner: read more →

the hazards of not reallocating partner equity

november 10, 2015

by succession institute

“this stage is usually when the crap hits the fan in many organizations.”

by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute

let’s look at the common pitfalls we find with ownership distribution, using scenarios to drive home various points. let’s say we have a five-partner firm.

the ownership and age is as follows:

partner equity age

senior partner 1 (sp1) 35% 65

senior partner 2 (sp2) 35% 63

junior partner 1 (jp1) 15% 53

junior partner 2 (jp2) 10% 48

junior partner 3 (jp3) 5% 42

first of all, many firms would die for this kind of age split as – unfortunately – many firms have partners much closer in age than this 23-year range example. but continuing on, let’s say senior partner 1 (sp1) wants to retire at the end of this year. if this would occur as it does in many firms, we would be scrambling for additional partners. but for the sake of this discussion, let’s say we just addedjunior partner 3 (jp3) last year and we will add jp1 immediately after sp1’s retirement with an ownership interest of 5 percent.

so, if this were to occur without unusual intervention, the new ownership percentages would look something like this a year later:

why most partner comp systems are performance-based

november 2, 2015

by marc rosenberg

to perform well, partners need to work hard every year.

by marc rosenberg
partner comp: art & science

any discussion of partner compensation must start with a fundamental concept: should a partner group’s income allocation system be performance-based?

more on partner compensation: 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

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the fact is: compensation motivates performance.

when two partners isn’t enough and three is too many

october 27, 2015

by succession institute

the pitfalls of equity allocation and reallocation.

by bill reeb and dominic cingoranelli

i want to address the issue of equity – how it is commonly allocated to begin with, and then making adjustments to it over time.

for many firms, the idea in the beginning is that “all the partners are the same, so their ownership should be the same.” when the firm starts out with only a shingle, this is a very fair premise. so, for the sake of this column, let’s start out with a two-partner firm and build from there, talking through the common issues that arise in the area of distributing equity ownership.

more on performance management: develop your employees or suffer the consequences | cpa firm performance assessments: 15 core competencies, 21 questions | how to target what skills to develop now | what having your employees’ backs means | 5 harmful management attitudes (and how to fix them) | do cpa firms need management or leadership? | job 1 for the practice owner: client management

start with two

the most common approach would be for the two partners to split the ownership 50/50. the reason why this often works so well is because the two people who join together often are brought together because of their complementary skills. for example one might be very technically competent and the other more marketing savvy. together they make a great team – one, without the other, is less effective.