{"id":121984,"date":"2024-02-22t11:58:49","date_gmt":"2024-02-22t16:58:49","guid":{"rendered":"\/\/www.g005e.com\/?p=121984"},"modified":"2024-08-29t23:53:50","modified_gmt":"2024-08-30t03:53:50","slug":"six-rules-for-keeping-partners-happy-and-productive","status":"publish","type":"post","link":"\/\/www.g005e.com\/2024\/02\/22\/six-rules-for-keeping-partners-happy-and-productive\/","title":{"rendered":"six rules for keeping partners happy and productive"},"content":{"rendered":"<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-122770\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2024\/02\/fourpeopletalking_adobestock_118642295.jpeg\" alt=\"group of four business people talking to each other during a business meeting, with one man holding an electronic tablet in his hands with graphs and charts on the display\" width=\"1600\" height=\"908\" srcset=\"\/\/www.g005e.com\/wp-content\/uploads\/2024\/02\/fourpeopletalking_adobestock_118642295.jpeg 1600w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/02\/fourpeopletalking_adobestock_118642295-424x241.jpeg 424w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/02\/fourpeopletalking_adobestock_118642295-849x482.jpeg 849w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/02\/fourpeopletalking_adobestock_118642295-768x436.jpeg 768w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/02\/fourpeopletalking_adobestock_118642295-1536x872.jpeg 1536w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/02\/fourpeopletalking_adobestock_118642295-300x170.jpeg 300w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/02\/fourpeopletalking_adobestock_118642295-600x341.jpeg 600w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/strong><\/p>\n<p><strong>plus the first nine questions they must embrace for optimal profitability.<\/strong><\/p>\n<p><i>by marc rosenberg<\/i><br \/>\n<a href=\"\/\/www.g005e.com\/product-category\/marc-rosenberg\/?orderby=title-desc\"><i>the rosenberg practice management library<\/i><\/a><\/p>\n<p>\u201cwhen a corporation says move left, everybody takes a step left. in a partnership, when you say move left, three people go to the bathroom, four people move right and five people leave the firm.\u201d<em> \u2013 <\/em>richard ungaretti, ungaretti &amp; harris<\/p>\n<blockquote><p><b>more: <\/b><a href=\"\/\/www.g005e.com\/2024\/02\/08\/why-strategic-thinking-impacts-your-firms-future\/\">why strategic thinking impacts your firm\u2019s future<\/a> | <a href=\"\/\/www.g005e.com\/2024\/02\/01\/seven-things-good-firms-must-do\/\">seven things good firms must do<\/a> | <a href=\"\/\/www.g005e.com\/2024\/01\/04\/dont-make-firm-profitability-a-goal\/\">don\u2019t make firm profitability a goal<\/a> | <a href=\"\/\/www.g005e.com\/2023\/12\/14\/twenty-items-for-a-partner-compensation-committee-to-decide\/\">top 20 tough choices for the partner comp committee<\/a> | <a href=\"\/\/www.g005e.com\/2023\/11\/16\/tell-potentials-what-partnership-takes\/\">tell potentials what partnership takes<\/a> | <a href=\"\/\/www.g005e.com\/2023\/10\/05\/disturb-the-present-to-improve-the-future\/\">disturb the present to improve the future<\/a><br \/>\n<strong><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-49700 size-full\" src=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/08\/yellow_key_clip_art-e1375897299811-36p-hi-1-e1603911598474.jpg\" alt=\"goprocpa.com\" width=\"39\" height=\"16\" \/><span style=\"color: #b79c00;\">exclusively for pro members. <\/span><\/strong><span style=\"color: #b79c00;\"><a style=\"color: #b79c00;\" href=\"\/\/www.g005e.com\/wp-login.php?redirect_to=\/\/www.g005e.com\/2024\/02\/22\/six-rules-for-keeping-partners-happy-and-productive\/\">log in here<\/a> or <a class=\"external\" style=\"color: #b79c00;\" href=\"http:\/\/goprocpa.com\/\" target=\"_blank\" rel=\"noopener\">2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n<p>in cpa firms, as the partners go, so goes the firm. the partners<\/p>\n<ul>\n<li>bring in most of the business,<\/li>\n<li>manage most of the client relationships and engagements,<\/li>\n<li>develop and mentor the staff and<\/li>\n<li>manage the firm.<\/li>\n<\/ul>\n<p>if the partners don\u2019t perform these functions effectively, it is virtually impossible to be profitable and successful.<br \/>\n<!--more--><br \/>\nwhen the partners don\u2019t get along with each other, and major schisms develop that cause a lack of partner collegiality, cohesion and communication, work stops being enjoyable. when it gets to the point that partners stop communicating with each other, two things usually happen:<\/p>\n<ul>\n<li>partner productivity declines and<\/li>\n<li>the firm\u2019s ability to resolve problems and implement strategic initiatives all but disappears.<\/li>\n<\/ul>\n<p>ultimately, the lack of partner cohesiveness takes its toll on the staff. they see what\u2019s going on and find it unpleasant to work for a firm where the partners don\u2019t get along. morale declines and eventually staff leave. it\u2019s a vicious cycle.<strong><br \/>\n<\/strong><\/p>\n<p>not too long ago, there were two national consumer product companies that used this promotional theme: \u201ccall me now (to look over your equipment and make sure it won\u2019t break down at a critical time) or call me later (after the equipment breaks down).\u201d<\/p>\n<p>the same holds true in the area of partner relations and conflict. one of the best ways to avoid problems in partner relations is for the partners to agree, up front, what the rules of the game are and how they will communicate with one another.<\/p>\n<p>they need to discuss and agree upon issues such as:<\/p>\n<ol>\n<li>what is our vision? what should the firm\u2019s goals be?<\/li>\n<li>how much money do we want to make? how hard do we want to work for the money?<\/li>\n<li>what is a fair way to allocate income among the partners?<\/li>\n<li>how will the firm be managed? do we need or want a managing partner?<\/li>\n<li>how will we get new business? whose responsibility is it to get it?<\/li>\n<li>what do we expect of each other? what roles should we each play in the firm?<\/li>\n<li>what values do we agree on?<\/li>\n<li>should our partners be accountable in any way for their performance and conduct?<\/li>\n<li>how should we bill and collect? how frequently? what are the partners\u2019 obligations here?<strong><br \/>\n<\/strong><\/li>\n<\/ol>\n<p>cpa firms have gradually realized that to be successful, a firm must manage itself like a <strong>real<\/strong> business. as firms have pursued this, they have found that they must attain a certain level of partner accountability to achieve their management goals. but in the process, many report feeling a diminished sense of collegiality among the partners. does this accountability need to come at the expense of collegiality?<\/p>\n<p>not if you do it right.<\/p>\n<p><strong>1. everyone needs to be on the same page<\/strong><strong>.<\/strong> partners should take the time to meet outside of the office and talk about their vision for the firm and where they would like it to go. clarifying the direction of the firm gets everyone pulling together in the same direction. it also provides the firm with the opportunity to draw a line in the sand. partners who vehemently disagree with the firm\u2019s agreed-upon vision should be asked to leave the firm.<strong><em><br \/>\n<\/em><\/strong><\/p>\n<p><strong>2. partner roles and expectations<\/strong><strong>. <\/strong>get these issues on the table and make sure everyone knows their role in the firm.<strong><em><br \/>\n<\/em><\/strong><\/p>\n<p><strong>3. different people produce at different levels<\/strong><strong>. <\/strong>it\u2019s a fact of life \u2013 not all partners are created equal. they are not equal in ability, and they are not equal in work habits. if the partners understand this and accept it, and adopt a performance-based compensation system that accommodates these differences, there will be less anxiety.<strong><em><br \/>\n<\/em><\/strong><\/p>\n<p><strong>4. don\u2019t overstate the value of current production<\/strong><strong>. <\/strong>consider this scenario, expressed by a concerned partner: \u201ci know i\u2019m doing well now, but i\u2019m still worried. this has become a young man\u2019s game. what if i can\u2019t keep up the pace? how\u2019s the firm going to treat me when i\u2019m older?\u201d firms must clarify how they take care of older partners so that these people aren\u2019t forced to look after themselves.<strong><em><br \/>\n<\/em><\/strong><\/p>\n<p><strong>5. partnership doesn\u2019t mean \u201cmanagement by committee.\u201d<\/strong> no organization can be managed effectively by committee. partners need to understand that they don\u2019t have an inalienable right to participate in all decisions. they should delegate a certain amount of decision-making authority to a centralized management structure and concentrate on being good cpas.<strong><em><br \/>\n<\/em><\/strong><\/p>\n<p><strong>6. everyone needs some rope<\/strong><strong>.<\/strong> strong firm management has nothing to do with \u201cmicromanaging.\u201d collegiality is hard to maintain when partners feel someone is watching over everything they do.<\/p>\n<p>conflicts arise when these issues are not addressed up front. if firms create the proper structure for establishing accountability, partners can be as collegial as ever and conflicts can be minimized.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong>plus the first nine questions they must embrace for optimal profitability.<\/strong><br \/>\n<a href=\"http:\/\/fourpeopletalking_adobestock_118642295\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-122796\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2024\/02\/250_rosenberg_fourpeopletalking_adobestock_118642295.jpg\" alt=\"\" width=\"250\" height=\"125\" \/><\/a><br \/>\n<i>by marc rosenberg<\/i><br \/>\n<a href=\"\/\/www.g005e.com\/product-category\/marc-rosenberg\/?orderby=title-desc\"><i>the rosenberg practice management library<\/i><\/a><\/p>\n","protected":false},"author":1339,"featured_media":122770,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[3120,3002,2266],"tags":[],"class_list":["post-121984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pro-member-exclusive","category-special","category-partner"],"acf":[],"yoast_head":"<!-- this site is optimized with the yoast seo plugin v24.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>six rules for 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