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Non CPA Executives in CPA Firms Can it really work?

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Presentation on theme: "Non CPA Executives in CPA Firms Can it really work?"— Presentation transcript:

1 Non CPA Executives in CPA Firms Can it really work?

2 Agenda It starts with Change Management…. Exploring the possibilities of non CPA executives. What is the “C Suite” and can it really work in an accounting firm? Identifying the right fit for your leadership group. How To Get Started


4 Polling Question How Do You Feel When You Hear The Word “CHANGE”? Bring it on! Let me think about it No thank you

5 It’s what you don’t know you don’t know that can cost you! Source: Unknown Resistance to change can be expensive! L. Gary Boomer

6 Think Differently Vision & Plan UpSideDown Budget Define Results Be Accountable Change Culture Change Beliefs Change Actions Develop Talent Define Client Criteria Compensation 10 X Growth

7 90 % of Firms <$3M Top 100 Firms >$30M

8 Culture Also Determines How you handle tension Whether you address or ignore conflict Strength of agreements Emotional commitment Ability to achieve growth Ability to change

9 Culture Stage 1 Alienated Life sucks Professionals skip Gang Style Rugged Individual Theft is common 5% Stage 2 Separate My life sucks Observers Can’t turn stars into a Team Departments 25% Stage 3 Personal I am great Competitive Personal Agendas Charge hours Personal wins Knowledge is power I don’t have time 50% Stage 4 Partnership We are great… They are not… Outcomes Shared Vision Transparency Accountability Sense of Pride 18% Stage 5 Team Life is great Core Values Innovative Teams Leadership Vision Inspiration 2% Words and relationships determine the stage your firm is in. To move from one stage to another requires external coaching. The process is slow. Professionals Avoid Stages 1 & Stage 2 The Leader’s Goal: Upgrade People – Move to the next stage. Firms work in multiple stages – Executives/Leaders should be at higher stages Resources: Tribal Leadership, by Dave Logan, John King, & Halee Fischer-Wright Good to Great, by Jim Collins


11 The Economics of Trust = From The Speed of Trust by Stephen M. R. Covey Low Trust =

12 The Economics of Trust High Trust = = From The Speed of Trust by Stephen M. R. Covey

13 Covey’s 13 Behaviors to increase trust Straight talk Demonstrate respect Create transparency Right “Wrongs” Show loyalty Deliver results Get better Confront reality Clarify expectations Practice accountability Listen first Keep commitments Extend trust

14 MANAGING CHANGE Not all changes are the same. Do Different – Think Different – Think About Thinking

15 The Ability to Change Motivators Fear Greed Peers Knowledge Principles & Values

16 The Hawthorne Effect Change Increases Productivity The Hawthorne effect is a form of reactivity, and describes a temporary change to behavior or performance in response to a change in the environmental conditions, with the response being typically an improvement. The term was coined in 1955 by Henry A. Landsberger when analyzing older experiments from 1924-1932 at the Hawthorne Works (outside Chicago).reactivityHawthorne Works

17 Efficient Effective Improving Cutting Copying Different Impossible Management Leadership 1 2 3 4 5 6 7 The 7 Levels of Change

18 How Individuals Deal With Change


20 MP Administrative Partner Director of ITHelp Desk Network Administrator Finance Manger Bookkeepers Firm Administrator Human Resources TrainingTax PartnerTax ManagersTax StaffAudit Partner Audit Managers Audit Staff Consulting Partner Consulting Mangers Consulting Staff

21 CEO/MPCIOHelp Desk Network Administrator CFOBookkeepersCOO Human Resources TrainingTax PartnerTax ManagersTax StaffAudit Partner Audit Managers Audit Staff Consulting Partner Consulting Mangers Consulting Staff

22 Polling Question What Percentage Of Team Members in Your Firm are Non-CPA’s? 0 to 10% 11 to 25% 26 to 50% 51 to 75% 76 to 100%


24 Accounting Professionals Start without the CPA designation Setting the expectations for their career Staff – Senior – Manager – Principal – Partner Does it take a “carrot”? Not just about expectations – think about the law

25 It’s the Law Check your state law New York – Owners must hold CPA designation Other States – 49% must hold CPA designation

26 Management Level Leadership Level MP/CEO Management Team Leading Everyone in the Firm

27 5 Levels of Leadership 1. Capable Individual 2. Contributing Team Member 3. Competent Manager 4. Effective Leader 5. Executive Source: Good to Great by Jim Collins

28 Management’s Challenges Generational issues Innovation Risk management Performance – Collaboration – Teamwork

29 Management Skills & Tools Project management Team building Conflict resolution Performance management Accountability Delegation strategies Meeting management Client service Communication techniques Business development 90 Day Game Plans Unique processes Risk management Client analysis & value Building a peer network Change management IT – the accelerator Pricing Training and learning Mentoring versus coaching

30 The E f fect LeadershipLeadership M a n a g e m e n t The Management Team

31 Polling Question What Percentage of your MP time is spent on Managing the Firm? (Non client responsibility) 1 to 25% 26 to 50% 51 to 75% 76 to 100%


33 CEO – Chief Executive Officer Deliver consistent results Utilize the 80-20 rule Put the best people in charge of the greatest opportunities Eyes on the future with current reality Evaluated on individual and team basis

34 COO – Chief Operations Officer Executive Committee member Glue that holds the firm together Master communicator Human Resources Training and Learning CEO/MP right (and left) arm High level position

35 CFO – Chief Financial Officer Executive Committee member Firm financial master Staff payroll and benefit master Bookkeeper supervision Firm insurance manager

36 CIO – Chief Information Officer Executive Committee member Thinks about how to implement technology strategically Hardware and software expert Extraordinary people person Excellent process developer Sees the training needs

37 CLO – Chief Learning Officer Adult Education background Curriculum development Communication expert Connections with outside teachers/trainers Strategic Thinker Firm Cheerleader


39 Polling Question Will Your Firm Be Hiring Any New Team Members at the Management Level in the Next Year? Yes No Unsure

40 I’m Intrigued, where do I start? Current Organizational Chart Identify Challenges - Create a Synergy Report Re-organize Where Needed Hiring Process – Job Description – Expectations – Interview – Hire

41 41 Kolbe C™ Index Evaluator’s functional Requirements Kolbe B™ Index Workers’ self- Expectations Kolbe A Index Individuals’ Realities Significant differences among conative Realities, Expectations and Requirements cause over 70% of work-related stress. Workplace Diagnostics

42 42 Synergy Algorithm Kolbe has proven: Without synergy, teams are doomed to fail. Kolbe also makes synergy : Definable Quantifiable Predictable Improvable Team Synergy

43 43 Validity in predicting success PredictorPerformance Ratings Kolbe A Index Cognitive Test Score Biographical Data Reference Checks Education Interviews College Grades Interest Age.82.53*.37*.26*.22*.14*.11* -.01*.10* The Validity of Different Predictors of Job Performance *Source: Wall Street Journal Who Will Work Well

44 44 Kolbe RightFit™ Ease of use Predictive Internet-based Screening Tool Meets and exceeds EEOC requirements

45 45 Kolbe Selection Process


47 Steps To Moving Toward A New Culture 1.Hire people with integrity, intelligence & energy. 2.Build the management & administrative teams around the leader(s). 3.Use the Kolbe Index and Synergy Report. 4.Utilize non-accountants in many of the positions. 5.Team members need personal development programs. 6.Develop managers. Talent leaves bad managers, not firms. 7.Spend time to think, plan and grow. 8.Technology is the accelerator. Get digital ASAP. 9.Successful firms have successful business models. 10.Employee recognition is as important as planning and accountability. 11.READ!!!

48 Resources

49 Thank you!

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