{"id":128798,"date":"2024-08-15t12:10:06","date_gmt":"2024-08-15t16:10:06","guid":{"rendered":"\/\/www.g005e.com\/?p=128798"},"modified":"2024-08-23t09:49:54","modified_gmt":"2024-08-23t13:49:54","slug":"how-to-solve-the-big-disconnect-in-talent-management","status":"publish","type":"post","link":"\/\/www.g005e.com\/2024\/08\/15\/how-to-solve-the-big-disconnect-in-talent-management\/","title":{"rendered":"how to solve the big disconnect in talent management"},"content":{"rendered":"<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-128802\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2024\/08\/rosenbergstaff_fivetalentarrow.png\" alt=\"\" width=\"1600\" height=\"791\" srcset=\"\/\/www.g005e.com\/wp-content\/uploads\/2024\/08\/rosenbergstaff_fivetalentarrow.png 1600w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/08\/rosenbergstaff_fivetalentarrow-424x210.png 424w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/08\/rosenbergstaff_fivetalentarrow-849x420.png 849w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/08\/rosenbergstaff_fivetalentarrow-768x380.png 768w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/08\/rosenbergstaff_fivetalentarrow-1536x759.png 1536w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/08\/rosenbergstaff_fivetalentarrow-300x148.png 300w, \/\/www.g005e.com\/wp-content\/uploads\/2024\/08\/rosenbergstaff_fivetalentarrow-600x297.png 600w\" sizes=\"(max-width: 1600px) 100vw, 1600px\" \/><\/strong><\/p>\n<p><strong>can you articulate your firm\u2019s employee value proposition?<\/strong><\/p>\n<p><em>by marc rosenberg in collaboration with jeremy wortman, ph.d., owner of <a href=\"https:\/\/www.hrd-initiatives.com\/\" target=\"_blank\" rel=\"noopener\">hrd initiatives<\/a><\/em><br \/>\n<a href=\"\/\/www.g005e.com\/shop\/marc-rosenberg-cpa-firm-staff-managing-your-1-asset-second-edition-updated-expanded-mr23cfs\/\"><i>cpa firm staff: managing your #1 asset<\/i><\/a><\/p>\n<p>\u201cexecutives spend more time on managing people and making people decisions than on anything else \u2013 and they should. no other decisions are so long-lasting in their consequences or so difficult to unmake. and yet, by and large, executives make poor promotion and staffing decisions. at most, one-third of such decisions turn out right, one-third are minimally effective and a third are outright failures. in no other area of management would we put up with such miserable performance.\u201d \u2013 peter drucker<\/p>\n<h4 style=\"padding-left: 40px;\"><strong><b>more:<\/b><\/strong> <a href=\"\/\/www.g005e.com\/2024\/08\/08\/what-relevance-means-for-staffing-in-accounting\/\">what relevance means for staffing in accounting<\/a> | <a href=\"\/\/www.g005e.com\/2024\/08\/01\/how-accounting-staffing-has-changed\/\">how accounting staffing has changed<\/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\/08\/15\/how-to-solve-the-big-disconnect-in-talent-management\/\">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><\/h4>\n<p>&nbsp;<\/p>\n<p><strong>what is talent management?<\/strong><\/p>\n<p>talent management is an umbrella term for how firms acquire talent, engage people in their firms, develop their skills and retain them. among many things, it addresses<br \/>\n<!--more--><\/p>\n<ul>\n<li>behavior in the workplace<\/li>\n<li>how and why people are different<\/li>\n<li>how these differences affect motivation and job performance<\/li>\n<li>how firms can improve productivity, retention and engagement<\/li>\n<li>how to leverage each person for maximum performance, which drives bottom-line results<\/li>\n<\/ul>\n<blockquote><p>for a talent management strategy to be truly successful and worth the effort to create and implement, partners must believe that it will help the firm make more money, directly or indirectly.<\/p><\/blockquote>\n<p>without partners\u2019 commitment, the plan will only be given lip service. here is the bottom line: if you hire people whose talents fit the firm\u2019s needs and assign them to excellent managers who coach and develop them, you\u2019ll create a firm of engaged employees. engaged employees create engaged clients.<\/p>\n<p>these clients spend more money with your firm by purchasing other services, which improves the bottom line.<\/p>\n<h3>the big disconnect<\/h3>\n<figure id=\"attachment_128821\" class=\"thumbnail wp-caption alignright\" style=\"width: 154px\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-128821\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2024\/08\/wortman_jeremy.png\" alt=\"portrait of jeremy wortman\" width=\"154\" height=\"199\" \/><figcaption class=\"caption wp-caption-text\">wortman<\/figcaption><\/figure>\n<p>jeremy wortman, my co-author for this article, gave a presentation to a roundtable group we run in chicago. the group\u2019s 23 members include two-thirds of the largest local firms in the windy city.<\/p>\n<p>prior to his visit, he surveyed the group in a number of areas.<\/p>\n<ul>\n<li>97 percent said that staff are essential or critical to the long-term success of the firm.<\/li>\n<li>94 percent said their firms face challenges in talent management.<\/li>\n<\/ul>\n<p>but only 10 percent had a robust, formal talent management strategy. unfortunately, this is representative of cpa firms from coast to coast. if a plan is not in writing, generally speaking, it serves little purpose.<\/p>\n<p><strong>this disconnect makes no sense<\/strong><\/p>\n<p>many important areas of firm management are put into writing much more frequently than talent management:<\/p>\n<ul>\n<li>marketing plan<\/li>\n<li>partner agreement<\/li>\n<li>partner retirement\/buyout agreement<\/li>\n<li>succession plan<\/li>\n<li>strategic plan<\/li>\n<li>quality control document<\/li>\n<li>personnel manual\/policies and procedures<\/li>\n<\/ul>\n<p>but in an area such as talent management, which 97 percent of firms cite as essential or critical to success, only 10 percent have a formal plan to back that up. puzzling.<\/p>\n<p>what explains this huge disconnect?<\/p>\n<ol>\n<li><strong>complacency.<\/strong> partners may think: \u201cthings are good. i make more money than i ever dreamed of. i like where i am. sure, i would love to have better staff, but they come and go. there\u2019s a limit to how much emotional energy i\u2019m willing to devote to the nurturing and training of staff.\u201d<\/li>\n<li><strong>you get what you measure.<\/strong> managing staff and helping them learn and grow is minimally recognized in most firms\u2019 partner compensation systems.<\/li>\n<li><strong>lack of time.<\/strong> partners are busy people. they may <strong>say<\/strong> that staff are just as important as clients, but when clients say \u201cjump,\u201d which is quite often, everything else stops and the clients get served first, with attention to staff getting the short end of the priority stick.<\/li>\n<li><strong>no hr professional on board<\/strong> to help the firm stay on track with its talent management strategy. alternatively, some hr professionals lack breadth and depth in talent management.<\/li>\n<li><strong>lack of knowledge<\/strong> of how to manage staff effectively. let\u2019s face it, accountants go to school to be technical experts. for us to expect them to naturally understand how to manage people well may be a little unrealistic.<\/li>\n<\/ol>\n<p>a few other results of surveying the roundtable firms:<\/p>\n<ul>\n<li>77 percent said personality and cultural fit are more important than technical knowledge to employees\u2019 long-term success.<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\">the authors ask: then why is 90-100 percent of most firms\u2019 cpe technical? and why is the recruiting process of many firms focused so heavily on interviewing for technical expertise and experience while neglecting interpersonal skills?<\/p>\n<ul>\n<li>58 percent said they do not conduct employee surveys.<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\">the authors ask: if there is true commitment to making the firm a great place to work that retains people and helps them grow, how can a firm <strong>not<\/strong> survey its staff to find out what they think? how can you fix anything if you don\u2019t know what\u2019s broken?<\/p>\n<p><strong>a great opportunity for firms<\/strong><\/p>\n<p>there are several keys to an effective recruiting program. one is a firm\u2019s ability to convey to recruits that their firm is different and therefore \u201cspecial\u201d compared to other firms. what\u2019s a great way to differentiate your firm? share with recruits your firm\u2019s written talent management strategy.<\/p>\n<h3>talent management model and strategy<\/h3>\n<p>talent management is the integrated set of programs that help firms acquire, engage, build, leverage and retain the right talent for the right jobs at the right time. what makes talent management <strong>strategic<\/strong> is the alignment of these programs to the business strategy of the firm. all of them support its mission, vision and core values.<\/p>\n<p>to help firm leaders think more comprehensively and holistically about the people side of their business, a simple visual of the talent management model is at the top of this article. firm leaders can use this model to conduct their own internal talent management audit to identify both what they are already doing and what they should start.<\/p>\n<p>&nbsp;<\/p>\n<table border=\"1\" width=\"444\">\n<tbody>\n<tr>\n<td width=\"88\"><strong>acquiring<\/strong><br \/>\n<strong>talent<\/strong><\/td>\n<td width=\"88\"><strong>engaging<\/strong><br \/>\n<strong>talent<\/strong><\/td>\n<td width=\"91\"><strong>building<\/strong><br \/>\n<strong>talent<\/strong><\/td>\n<td width=\"88\"><strong>leveraging<\/strong><br \/>\n<strong>talent<\/strong><\/td>\n<td width=\"88\"><strong>retaining<\/strong><br \/>\n<strong>talent<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"88\">\n<ul>\n<li>recruiting<\/li>\n<li>culture fit<\/li>\n<li>personality<\/li>\n<li>selection and placement<\/li>\n<li>onboarding<\/li>\n<li>employee value proposition (evp)<\/li>\n<\/ul>\n<\/td>\n<td width=\"88\">\n<ul>\n<li>recognition<\/li>\n<li>feedback<\/li>\n<li>challenge<\/li>\n<li>flexibility<\/li>\n<li>great bosses<\/li>\n<li>communication<\/li>\n<li>team-building<\/li>\n<\/ul>\n<\/td>\n<td width=\"91\">\n<ul>\n<li>training<\/li>\n<li>mentoring<\/li>\n<li>leadership development<\/li>\n<li>individual development plans<\/li>\n<\/ul>\n<\/td>\n<td width=\"88\">\n<ul>\n<li>advance-ment<\/li>\n<li>salaries<\/li>\n<li>job descriptions<\/li>\n<\/ul>\n<\/td>\n<td width=\"88\">\n<ul>\n<li>engagement surveys<\/li>\n<li>360\u00b0 feedback<\/li>\n<li>career path<\/li>\n<li>challenge<\/li>\n<\/ul>\n<p>&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>the remainder of this article drills down on these five components of talent management.<\/p>\n<h3>acquiring talent<\/h3>\n<p>firms should use this process for acquiring talent:<\/p>\n<ul>\n<li>identify the talent needs of the firm (now and in the future)<\/li>\n<li>attract candidates who have the same motivational tendencies<\/li>\n<li>select individuals who have the best talent <strong>and<\/strong> technical expertise for the job<\/li>\n<li>begin the onboarding process of the new firm employee<\/li>\n<\/ul>\n<p>the following are best practices to consider in building a top-level talent acquisition practice:<\/p>\n<ol>\n<li><strong>what attracts people to your firm doesn\u2019t always keep them.<\/strong> things that <strong>attract<\/strong> staff are money, benefits, the role the new employee will play, the firm\u2019s growth, cool offices, technology and training opportunities. things that <strong>retain<\/strong> staff are challenge, promotional opportunities, great bosses, mentoring, regular feedback, collegiality with co-workers and the extent to which they learn and grow.<\/li>\n<\/ol>\n<p style=\"padding-left: 40px;\">this works in reverse as well. firms often get attracted to a candidate for the wrong reasons. the vast majority of people will be hired if they have an impressive resume, interview well and provide good references. but that\u2019s not enough.<\/p>\n<ol start=\"2\">\n<li><strong>before you interview the first recruit, use a validated assessment tool to objectively define the personality and culture of your firm.<\/strong> (wortman likes the oms-organization management system, but there are others, such as the predictive index.) examples:\n<ul>\n<li>team player vs. individualistic<\/li>\n<li>comfort with conflict vs. conflict avoidance<\/li>\n<li>fast pace, multitasking and constant schedule changes vs. slower pace, routine, no surprises<\/li>\n<li>the firm has lots of extroverts and values sociability vs. lots of introverts who prefer doing work at their desk<\/li>\n<li>things always changing vs. things staying the same<\/li>\n<li>sweatshop vs. soft on hours<\/li>\n<li>how flexible the firm is on where and when staff work<\/li>\n<li>self-starters who work well with minimal supervision vs. those who need constant guidance<\/li>\n<li>a firm that embraces transparency and involves staff in decisions vs. one that is secretive and makes decisions in an ivory tower<\/li>\n<li>central processes that all partners buy into vs. partners have their own way of doing the same work<\/li>\n<li>staff travel to clients because the firm likes work done in the field vs. staff rarely leave the office<\/li>\n<\/ul>\n<\/li>\n<li><strong>assessing applicants\u2019 fit.<\/strong> proactively and scientifically, identify the key personality traits of your firm\u2019s best performers as well as those who fail. then match the recruit\u2019s personality to the firm\u2019s and let that guide your selection. when you select for talent you create an engaged workforce that brings positive results to the firm\u2019s bottom line.<\/li>\n<\/ol>\n<p style=\"padding-left: 40px;\">partners typically raise two objections to this approach.<\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>the cpa industry has a terrible shortage of labor. matching the personalities of the firm and recruits sounds great, but many times firms are lucky to get <strong>any<\/strong> recruits. they feel they can\u2019t afford to be choosy.<\/li>\n<li>a recruit comes along who would be hired on the spot based on the traditional hiring model: great resume, interviews well, is very personable. has all the technical skills and experience needed. good references. these firms would say: \u201cgive me a break. these kinds of people don\u2019t grow on trees. when we find them, we need to hire them yesterday!\u201d<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p style=\"padding-left: 40px;\">those are formidable obstacles to the personality matching model. but what if someone told you that, despite some recruits\u2019 talent and allure, in six months they will be gone? would you still hire them? perhaps not.<\/p>\n<p style=\"padding-left: 40px;\">here are some examples. assume that in all cases, the recruit has an impressive resume, interviews well and has great references.<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>the recruit\u2019s personality profile shows difficulties with multitasking and dealing with abrupt changes, but these traits fit your busy firm to a t.<\/li>\n<li>the recruit\u2019s profile is that of an introvert who prefers to work alone. your firm is big on team play and most personnel, including the partners, are extremely sociable.<\/li>\n<li>the recruit\u2019s profile indicates someone who needs lots of guidance and has difficulty making decisions independently. but your firm has a frenetic culture where everyone is constantly busy and not always accessible. its people must be self-reliant.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\">important: you may be a marvelous interviewer who asks great, penetrating questions to detect these types of problems, but the mismatch will remain undetected because the recruit knows how to game the process. anyone who reads the job posting and rehearses for the interview can tell what you want to hear. only a scientific assessment tool professionally tested and validated with thousands of people will accurately detect the mismatch.<\/p>\n<p style=\"padding-left: 40px;\">firms that use the personality matching model would not hire these otherwise outstanding candidates because they know from experience that these differences will eventually cause each of them to leave the firm within a year.<\/p>\n<ol start=\"4\">\n<li><strong>employee value proposition. <\/strong>firms that have created their client value proposition must clearly articulate it to their current and future staff. an evp is what the firm offers in exchange for the productivity and performance of a staff person. it includes base pay and other rewards, benefits, challenging work and career advancement, as well as more intrinsic elements such as management style, work environment and culture.<\/li>\n<\/ol>\n<p style=\"padding-left: 40px;\">the key questions you should be asking yourself:<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>why should someone work for your firm?<\/li>\n<li>why should someone <strong>stay<\/strong> with your firm?<\/li>\n<li>how does this compare to your competitors?<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\">as we reflect on the changing nature of the business environment, we can compare and contrast the paradigm shift that accompanies the evolution of the evp:<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>old school: they should be happy they have a job.<\/li>\n<li>new school: we are ecstatic our staff want to work for us.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\">(the evp material is from willis towers watson.)<\/p>\n<ol start=\"5\">\n<li><strong>onboarding process. <\/strong>let\u2019s get some definitions straight. the text below is from a blog post at the website \u201cexpecting change,\u201d written by andrea ballard.<\/li>\n<\/ol>\n<p style=\"padding-left: 40px;\"><strong>orientation<\/strong> is largely administrative. it is event-driven and usually includes new-hire paperwork, a tour of the office, a nice lunch and issuance of security cards, computers and passwords. it\u2019s often canceled or rescheduled at the last minute, either because the new employee needs to get to work quickly or the existing employees are too busy and don\u2019t place a high priority on their orientation duties.<\/p>\n<p style=\"padding-left: 40px;\"><strong>onboarding<\/strong> is an ongoing process. while many firms use a 30- to 90-day orientation period, 90 days is often not long enough to expose new employees to the various aspects of their jobs. in an accounting firm, a great deal of onboarding takes place during busy season, as professionals learn expected norms around work hours and how to handle conflicting commitments to different supervisors.<\/p>\n<p style=\"padding-left: 40px;\">onboarding involves giving new employees specific information about how to navigate relationships in your firm, whether it\u2019s with peers, clients, supervisors or partners. professional staff may have excellent technical skills, but if they can\u2019t figure out the trickier aspects of relating to people, they often will not last at your firm, or won\u2019t advance as quickly as they should.<\/p>\n<h3>engaging talent<\/h3>\n<p>we used to think that the primary driver of staff productivity and retention was job satisfaction. but more important is employee <strong>engagement<\/strong> where staff think: \u201ci get to go to work today,\u201d instead of, \u201ci <strong>have<\/strong> to go to work today.\u201d<\/p>\n<p>while satisfaction is important, an engaged employee is more productive, produces higher-quality work and is less likely to leave your firm. equally important, engaged staff create engaged clients. these clients spend more money with you by purchasing more services your firm has to offer.<\/p>\n<p>the components of talent engagement:<\/p>\n<ol>\n<li>staff are proud to say that they work for the firm and would enthusiastically recommend it to others.<\/li>\n<li>staff will go beyond the call of duty to get the job done.<\/li>\n<li>staff believe in the vision of the firm and why it exists (mission).<\/li>\n<\/ol>\n<p>tactics to achieve high talent engagement:<\/p>\n<ol>\n<li>involve staff in the development of the firm\u2019s vision and mission. if these already exist, have each department create its own that support the firm\u2019s. then, help the staff see how their work contributes to achieving the mission. <strong>don\u2019t assume they automatically get it!<\/strong><\/li>\n<li>demonstrate to the staff how the key operational goals support the firm\u2019s mission and values. provide ongoing updates on how the firm as a whole is progressing toward those goals. <strong>people want to see progress and how they are contributing to it.<\/strong><\/li>\n<li>be flexible about where and when the staff work. the flexibility trend basically says treating staff like professionals instead of plebes \u2013 giving them flexibility in getting work completed as long as they maintain productivity and fully satisfy client needs \u2013 engages them more in the firm and optimizes their overall performance.<\/li>\n<li>team building programs. wortman says, \u201cteam-building exercises like paintball war games, sack races and cooking classes are crap because they are mostly done for novelty purposes and lacking in sustained behavioral change. what <strong>are<\/strong> effective are behavioral assessments. if done correctly with a trained facilitator, they help personnel understand themselves and each other, and that understanding makes it easier to tolerate each other and work better together.\u201d<\/li>\n<\/ol>\n<p style=\"padding-left: 40px;\"><strong>innovative team-building exercise:<\/strong> have everyone take a personality profile and post the results on a wall without identifying names. then ask everyone to identify who is who. only 10 percent will guess correctly. we don\u2019t know each other as well as we think we do.<\/p>\n<ol start=\"5\">\n<li>performance feedback. the overview: after completing assignments, employees should receive immediate face-to-face feedback on what they did well and what needs to improve. annual performance appraisals are almost always ineffective and anxiety-provoking, for both the reviewer and reviewee.<\/li>\n<li>create a leadership expectation (or competency) model. everyone, no matter their position within a firm, has the opportunity to demonstrate leadership behaviors. firms must proactively identify what it means to be a leader within their own firm. when people know what\u2019s expected of them, they are much more likely to be successful. identify your firm\u2019s ideal leadership behaviors and measure everyone against those behaviors.<\/li>\n<li>partners and managers must be great bosses. the #1 reason why employees in any organization leave is their relationship with their boss. people leave managers, not their jobs.<\/li>\n<li>effective nonmonetary recognition and reward programs. sure, employees appreciate gift cards and bonuses. however, their motivational impact is very short-lived. recognition from co-workers, including their staff, their peers and their bosses, is more powerful in creating intrinsic motivation. it can be very simple to create and maintain these programs within your firm! a simple thank you after an employee completes a project or goes the extra mile is one of the most effective rewards, and it comes at zero cost to the firm. this recognition can be in the form of verbal praise, a handwritten note, a shout-out at a team meeting or even recognition in a company newsletter or social media page.<\/li>\n<\/ol>\n<h3>building talent<\/h3>\n<ol>\n<li>training<\/li>\n<li>mentoring<\/li>\n<li>leadership development<\/li>\n<li>every staff person creates an individual development plan<\/li>\n<\/ol>\n<p><strong>bottom line: <\/strong>what attracts employees to your firm isn\u2019t necessarily what keeps them. a large driver of employee retention is helping them to develop and contribute their full potential. if you don\u2019t give them this love, they will go find another organization that will!<\/p>\n<h3>leveraging talent<\/h3>\n<p>once firms have engaged staff whose talents have been nurtured and developed, they\u2019re in position to leverage those talents for maximum performance by rewarding and advancing their employees.<\/p>\n<ol>\n<li><strong>advancement <\/strong>is important for all employees, but it is especially critical in satisfying top talent. keep in mind that advancement isn\u2019t limited to formal promotions. getting more challenging assignments within the same position title is also important.<\/li>\n<li><strong>compensation.<\/strong> make sure you are rewarding good performance. compensation is always an important key to retention, but it becomes merely ante to stay in the game when staff are well-compensated. compensation alone will not guarantee retention.<\/li>\n<li><strong>job descriptions<\/strong> that help clarify expectations. sadly, many firms do not have job descriptions at all, while many more have descriptions that are severely out of date. how do you expect employees to perform to your expectations if they do not know what those expectations are? worse yet, if there is no job description identifying the performance expectations of the job, <strong>how<\/strong> is their work performance being evaluated? firms are missing a huge opportunity here to maximize the potential and overall effectiveness of their employees when they do not have high-quality job descriptions.<\/li>\n<li><strong> competency models. <\/strong>these go a step beyond job descriptions and provide a comprehensive guide for what knowledge, skills and abilities are expected from each level of professional at your firm. employees can reference these as they look to advance in their careers and be promoted.<\/li>\n<\/ol>\n<h3>retaining talent<\/h3>\n<ol>\n<li>employee engagement surveys. do this annually. things <strong>do<\/strong> change from year to year, given the industry\u2019s 15-20 percent turnover.<\/li>\n<li>stay interviews. these should be coupled with your employee engagement survey. take time to meet with your employees, especially your top performers, to ask them what keeps them at your firm and what you can do better to retain talent like them. too often these questions don\u2019t get asked until the exit interview, and by that time there\u2019s no chance to keep the employee who\u2019s walking out the door.<\/li>\n<li>360-degree performance assessment. all leaders within the firm should be assessed annually against the firm\u2019s leadership expectations using this methodology. it is highly recommended that you use an independent third party to facilitate this process to make it as anonymous and confidential as possible. if it\u2019s done internally, you run the risk of doing more harm than good because of the various mechanics and psychology involved.<\/li>\n<\/ol>\n<p style=\"padding-left: 40px;\">with this method, leaders are evaluated by<\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li>their own self-evaluation<\/li>\n<li>peers<\/li>\n<li>staff working for the person on client engagements<\/li>\n<li>the bosses, usually partners and managers<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p style=\"padding-left: 80px;\">partners and managers could also consider being evaluated by their clients by adding them as a grouping to these categories.<\/p>\n<ol start=\"4\">\n<li>career planning. one-on-one discussions between staff and an internal or external coach. this is where staff state what they want to be when they grow up and then identify key learning opportunities to explore the paths further. a key to retaining talent is for leaders to actively discuss career progression with their staff.<\/li>\n<\/ol>\n<div class='shareinpost'><ul class=\"socialwrap row\"><li 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href=\"mailto:?subject=cpa%20trendlines%20:%20how%20to%20solve%20the%20big%20disconnect%20in%20talent%20management&amp;body=here's%20something%20worth%20seeing%20from%20\/\/www.g005e.com...\r\n\r\n\r\n\r\n%20%20\/\/www.g005e.com\/2024\/08\/15\/how-to-solve-the-big-disconnect-in-talent-management\/\" title=\"email this: how to solve the big disconnect in talent management \"><img loading=\"lazy\" decoding=\"async\" src=\"\/\/www.g005e.com\/wp-content\/plugins\/share-and-follow\/images\/blank.gif\" height=\"24\"  width=\"24\" style=\"background: transparent url(\/\/www.g005e.com\/wp-content\/plugins\/share-and-follow\/default\/24\/sprite-feb-24.png) no-repeat;padding:0;margin:0;height:24px;width:24px;background-position:-275px 0px\" class=\"image-24\"  alt=\"email\" \/> <span class=\"head\">email this<\/span><\/a><\/li><\/ul><div class=\"clean\"><\/div> <\/div>","protected":false},"excerpt":{"rendered":"<p><strong>can you articulate your firm\u2019s employee value proposition?<\/strong><br \/>\n<a href=\"\/\/www.g005e.com\/2024\/08\/15\/how-to-solve-the-big-disconnect-in-talent-management\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-129582\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2024\/08\/250_rosenbergstaff_fivetalentarrow.png\" alt=\"\" width=\"250\" height=\"125\" \/><\/a><br \/>\n<em>by marc rosenberg in collaboration with jeremy wortman, ph.d., owner of <a href=\"https:\/\/www.hrd-initiatives.com\/\" target=\"_blank\" rel=\"noopener\">hrd initiatives<\/a><\/em><br \/>\n<a href=\"\/\/www.g005e.com\/shop\/marc-rosenberg-cpa-firm-staff-managing-your-1-asset-second-edition-updated-expanded-mr23cfs\/\"><i>cpa firm staff: managing your #1 asset<\/i><\/a><\/p>\n","protected":false},"author":1339,"featured_media":128802,"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":[3002,2297,2301],"tags":[715],"class_list":["post-128798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-special","category-staffing","category-talent","tag-jobs"],"acf":[],"yoast_head":"<!-- this site is optimized with the yoast seo plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>how to solve the 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