{"id":51476,"date":"2017-03-16t05:00:37","date_gmt":"2017-03-16t09:00:37","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=51476"},"modified":"2017-03-24t13:14:12","modified_gmt":"2017-03-24t17:14:12","slug":"ineffective-partners-address","status":"publish","type":"post","link":"\/\/www.g005e.com\/2017\/03\/16\/ineffective-partners-address\/","title":{"rendered":"ineffective partners and how to address them"},"content":{"rendered":"

\"three<\/a>consider not just the current impact, but the future.<\/strong><\/p>\n

by domenick j. esposito<\/i>
\n8 steps to great<\/i><\/a><\/p>\n

most accounting, tax and advisory cpa firm professionals who have demonstrated that they can help perpetuate an organization become partners between the ages of 35 and 42. in many cases, these same professionals retire from their firms as they approach the age of 60, 65 and 70.<\/p>\n

more on strategic planning: <\/b>develop home-grown future leaders<\/a> | who will be the next category killer?<\/a> | why is strategy execution so difficult?<\/a> | time running out for succession planning<\/a> | the benefits of a client situation review<\/a> | capital markets 101<\/a> | how to implement industry practice groups<\/a> | what is \u2018acceptable\u2019 performance?<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

many emotional and physical changes happen to us humans over the course of 25, 30 or 35 years. sometimes for the good and sometimes for the bad, our personal lives, energy levels and productivity at the age of 35 usually are different than our personal lives, energy levels and productivity at the age of 65.
\n<\/p>\n

when these \u201chuman\u201d changes have a prolonged, negative effect on job performance and impact at the firm, the managing partner is required to address an \u201cineffective partner.\u201d<\/p>\n

let\u2019s begin with the definition of an \u201cineffective partner.\u201d we are not referring to a person who usually delivers results year in and year out but occasionally has a less than stellar year because of a major client loss due to a sale or bankruptcy, a divorce or some other life-changing event. those are one-off situations that usually self-correct if the partner is properly counseled and has the right support system in the office and at home. for our purposes, an ineffective partner is defined as one who hasn\u2019t been carrying his\/her weight over a prolonged period of time<\/em> and, as a result, that partner’s compensation and contribution (or value to the partnership) are no longer aligned.<\/p>\n

\u201cface reality as it is, not as it was or as you wish it to be.\u201d<\/p>\n

\u2013 jack welch<\/p><\/blockquote>\n

arguably, performance counseling with constructive feedback for partners who fit this definition, particularly those who have been with the firm for a considerable number of years, is one of the more distasteful and difficult tasks that a managing partner has to undertake in fulfilling his\/her responsibilities. many managing partners hope the problem simply goes away so they don\u2019t have to address it. but, as we all know, hope is not a strategy and it is very naive to think that the problem will just go away. because of inertia and for a number of other reasons, many managing partners simply don\u2019t do a good job at addressing and dealing with ineffective partners.<\/p>\n

history has shown us that a managing partner shouldn\u2019t hide under the bushel in these circumstances because:<\/p>\n