Everywhere you look, you see and hear about the “graying” of America and the need to succession plan.  There is an old adage that consultant and friend Steve Erickson (www.steveeriksonllc.com) reminded me of recently: that smart firms treat succession in their practices as a process, not a one-time event.  In our travels at ConvergenceCoaching, we see that almost all firms can benefit by sharpening their succession processes and making succession planning a part of all leaders’ core responsibilities.  That’s why we’ve dedicated this issue of Coaching Concepts to the subject of succession.

In Leadership Lessons, we’ll explore some of the reasons firms put off succession discussions and then identify ten steps you can take to make succession a strategic process in your practice.  Then, in Practice Perspectives, we’ll identify the leadership and partner development programs you should consider to remain competitive and secure your firm’s place in the future.  In New News, we’ll share some of the resources and support that we provide to all firms that help in young leader development and the successor selection and transition process – along with important information about upcoming events, profession happenings, and client news.

It can be so uplifting and freeing to know that you are on the path to ensuring continuity and success for your team. Please don’t put off the subject of succession for another day.   

Enjoy the spring and hope to see you on our travels soon!

Gratefully,

Jen

Ten Steps to Make Succession a Strategic Process

The final test of a leader is that he leaves behind him in other men [and women] the conviction and the will to go on.

~Walter Lippman

It is no secret that our nation is graying and the need to plan for the succession of the approximately 76 million Baby Boomers cannot be delayed.  As we’ve worked with firms across the country, though, we’ve discovered that the issue of succession planning is one that most put off, deny, or ignore.  The reasons for this procrastination are varied, but they tend to fall into four categories:

For the full story, please click here.

You Need Capable Successors for a Seamless Transition

As Vince Lombardi said, “Contrary to the opinion of many people, leaders are not born. Leaders are made, and they are made by effort and hard work.”

To experience a seamless transition as your leaders grow up, and then eventually out of your organization, identifying and developing your up-and-comers must become a core competence.  Without these critical abilities, there won’t be anyone to carry out the vision of your firm, serve your clients, or pay your retirement benefits and/or buyout.  In this edition of Practice Perspectives, we’ll share ideas for developing leaders in your firm, identifying your partner potentials, and preparing them to step in and lead when the time comes. 

For the full story, please click here.

ConvergenceCoaching, LLC Turns 11!

On April 1, 2011, ConvergenceCoaching, LLC celebrated our eleventh anniversary of helping leaders achieve success!  We are so grateful to each of our friends and colleagues with whom we have worked over these years.  We would not be where we are today without your trust and friendship! Here is to many, many more anniversaries and to continuing the transformational work we love!

For the full story, please click here.

Service Spotlight: Our New Human Resources Retention and Recruiting Toolsets!

Our people are our greatest assets and are truly the lynchpin to our success.  So, what are you doing to engage your team members to ensure that they are motivated and “locked in” at your firm?  And, how prepared are you for the economic recovery, when it is very likely that the profession will see significant turnover and talent shortages (again).  Have you restarted your recruiting engines, including positioning your firm for success using new mediums such as online social media recruiting?

For the full story, please click here.

Retreats to Create Partner Unity and Training to Develop Your Team

If you are planning your firm’s annual retreat or strategic planning meeting and want to gain unity, transparency, accountability, and an action plan that is truly implemented out of your meeting, consider a ConvergenceCoaching facilitator!  If succession is a top priority for your firm, we can help you gain unity as a group at any stage in your process from identifying and assessing successor candidates to creating and implementing your succession plan.

Our expertise includes:

  • Partner unity, trust, performance, accountability, and teamwork
  • Governance and compensation
  • Revenue growth
  • Succession planning and leadership development
  • Team performance and accountability
  • Marketing, sales, and social media program development
  • Employee engagement, motivation, and recruiting
  • Leadership development, people development, and management issues

We also offer customized training for partners, managers, firm administrators, and/or staff on subjects such as leadership, communications, HR, and practice development to help you develop your team and secure your firm’s future.

Contact Lisa Spear at lisa@convergencecoaching.com for more information about how we can help you gain unity, work toward your vision, and develop your team.

For the full story, please click here.

ConvergenceCoaching in the News!

Congratulations to our partner and co-founder, Jennifer Wilson, who was included as one of The CPA Technology Advisor’s Top 25 Thought Leaders in public accounting for 2011!  Click here to learn more.

In addition, we are regularly featured authors and sources for various industry publications.  Find us in INSIDE Public Accounting, the AICPA’s CPA Insider, Texas Society of CPAs TSCPA Public Practice E-News, Accounting Today/Accounting Tomorrow, and as a frequent guest blogger on the SpeedTax Blog and Toolbox for Finance.

For the full story, please click here.

Is Your Accounting Firm One of the Best to Work For?
Take Accounting Today’s 2011 assessment and find out!

 Accounting Today's fourth-annual “Best Accounting Firms to Work For" ranking is dedicated to identifying and recognizing the best employers in the tax and accounting profession. This ranking is recognized as a great honor for firms and a significant competitive advantage for organizations that make the list.

If you are part of a public or privately held U.S. accounting firm with a minimum of 15 employees, go to www.bestaccountingfirmstoworkfor.com and register to participate in the assessment process.  Participants will be given a free employer benchmarking summary report with the ranking for your workplace and other participants.
 
Don’t miss the deadline of June 30.  Register to participate today!

For the full story, please click here.
How Does Your Firm Stack Up?
Take the 2011 INSIDE Public Accounting and Rosenberg MAP Surveys!

INSIDE Public Accounting’s Annual Benchmarking Survey and The Rosenberg MAP Survey are excellent ways to benchmark your firm’s key metrics against your peers and compare management policies, financial results, and other key practice measures.

By participating in the surveys, you will receive a number of benefits and useful information, including the comprehensive result reports with benchmarking data that will allow you to evaluate how your firm compares to others in your geography and with other firms your size.

Take the INSIDE Public Accounting Survey by clicking here by the June 10 deadline.

And, complete The Rosenberg Survey online at www.RosenbergSurvey.com by the June 15 deadline.       

For the full story, please click here.

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