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Greetings!
Welcome
to TrainingTips, Point of Action's quarterly online newsletter for
accounting and financial consulting professionals. In this issue, we
explore ways to enhance the fall New Hire Orientation process, as well as
examine techniques for looking more strategically at your firm's Learning
& Development function.
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A Strategic Approach to Learning & Development
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We know that providing staff with a more defined career path
and advancement opportunities, along with investing in their professional
development, can help to retain talented CPAs. The challenge often
involves analyzing your firm's strategic goals, establishing professional
competency benchmarks to meet those goals, and constructing a strategic
training plan to help your employees master high performance standards
and advance at your firm.
For
many firms, you're further along than you think. Most local and regional
CPA firms already have performance evaluation forms and a review process
that outlines several core competencies you expect your staff to exhibit
and master at each career level (Associate, Senior, Manager, Partner).
Take some time to make certain that these performance competencies are
linked directly to your firm's strategic and financial goals. For
example, if your goal is to become one of the Top 100 CPA firms within
the next five years, based on revenue growth, then you will want to make
sure that one of your performance competencies is focused on business
development and sales and that you are holding staff at all levels
accountable for achieving this goal.
Assuming
that you are satisfied with the competencies outlined in your performance
evaluation forms, and that these competencies are linked directly to your
firm's strategic goals, then the next important step is to create a
firm-wide training planning to help your staff people to meet these
benchmarks. Back to our example: If you expect your staff people at each
level to participate in activities that lead to the growth of the firm,
and if you are holding them accountable to this expectation in their
annual or semi-annual performance reviews, then you should make certain
that you are providing training and staff development resources to help
them meet this standard.
During
the fall months, before the start of the busy tax season, take some time
to review your competency benchmarks and inventory your current CPE
offerings to make sure that CPE and staff development resources are being
allocated consistently. If you find that there are gaps between what you
are expecting your staff to be able to do, and what resources you are
currently providing them, then consider drafting a strategic training
plan that shows the recommended CPE programming opportunities (both
technical and non- technical) for staff at each career level.
By making certain that your competency benchmarks are linked to your
firm's strategic goals, and that you are providing resources to help your
professionals achieve these benchmarks, you will be well-positioned to
retain and develop your staff. And, by showcasing the CPE and staff
development opportunities your firm offers its staff, you will likely
entice many new recruits to consider joining your firm!
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Coaching & Developing Staff
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 Even though we
can spend a great deal of time and money on state-of-the-art performance
development systems and top-notch training programs, we know that most
CPA learning and development occurs on-the- job. In Point of Action's
"Coaching & Developing Staff" workshop, we highlight a
five-step plan for integrating on-the-job coaching into the work-week.
Feel free to share these five steps with your supervisors and look for
on-the-job performance improvements:
(1) Set
Expectations - Prior to the start of a new client engagement, take a look
at the evaluation form that you will be asked to complete following this
job. Identify the key performance expectations you will be asked to
measure in your staff person and communicate these expectations-along
with job- specific requirements-as the engagement kicks-off.
(2)
Spot Coaching Opportunities - After you determine and communicate your
performance expectations on this job, seize opportunities to highlight
instances where a staff member may be exceeding your expectation or
falling short. These quick coaching conversations can take less than five
minutes and can have an overwhelmingly positive impact on engagement
efficiency and staff performance.
(3)
Motivate - Once you've identified gaps in a staff member's performance
on-the-job, or you want to help the staff member to function at a higher
level, experiment with various motivational techniques. Find out what
gets each staff member out of bed each morning, and adapt your coaching
approach accordingly.
(4) Check-In - One of the hardest and most important steps of the
coaching cycle involves checking-in with staff members at set intervals
throughout each engagement to ensure that the coaching process is working
and to make adjustments as needed.
(5) Feedback - The critical coaching link, and the one most often
neglected, is giving formal performance feedback soon after the
engagement wraps-up. Without this real-time feedback, mistakes are
perpetuated, gaps widen, and your up-front coaching investment may
dwindle.
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Join Us at the N.E. Practice Management Conference!
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Join
Point of Action at this year's Annual New England Practice Management
Conference scheduled for November 14th and 15th at Foxwoods Resort &
Casino in Connecticut. We will be presenting a break-out session on
"Linking Learning & Development to Performance Improvement"
and hope to see you there!
For
more information or to register for this conference, sponsored by the
Massachusetts Society of CPAs, please visit the link below:
Conference Information... »
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Enhancing New Hire Orientation Programs
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In today's highly competitive marketplace for accounting
staff, retaining and developing junior accounting professionals is
increasingly important for local and regional CPA firms. Get off on the
right foot with a New Hire Orientation program that blends technical and
non-technical skill-building with an inclusive and informative learning
environment.
As fall approaches more quickly than we'd like, many firms are preparing
for their fall start classes and are finalizing orientation and training
programs that acquaint new hires to the firm's culture and professional
expectations. Here are some tips to help you create a first-rate New Hire
Orientation experience:
(1)
First Impressions - Make certain that the first day your new hires arrive
is meticulously planned and well- executed. All firm employees should be
aware of the start date and should be encouraged-and maybe even
required-- to interact with the new hires. Consider hosting an elegant
lunch or evening reception for the new hires to welcome them to the firm.
Make certain that the Managing Partner and other key employees, such as
practice leaders, administrators, and New Hire Mentors, are present
throughout the day to demonstrate the firm's commitment to its new
employees.
(2)
Orientation Packets - Take the time to create and distribute New Hire
Orientation packets or binders that include information about your firm's
history, organizational structure, client base, performance expectations,
and cultural norms. Be sure to include copies of your firm's performance
evaluation forms and related materials to make new hires aware of the
competencies that they will be expected to demonstrate and master during
their first year.
(3)
Information Overload - While the first few days of any new job can be
overwhelming, it's important to provide as much information as possible
on your firm's short-term and long-term strategic goals, profitability
aspirations, organizational improvements, new client opportunities, and
the anticipated career path for new hires. One of the top motivators for
employees is feeling "in on things," so the more open you are
about your firm's future, the more likely your employees will want to be
a part of it.
(4) People Investment - While your New Hire Orientation program will
likely include technical training on topics such as work paper documentation
and accounting software, and non-technical training on topics such as
building client relationships and succeeding in the professional services
environment, you should also consider showcasing the CPE programs that
your new hires can expect to participate in at each stage of their
career. According to the AICPA, the top reason why CPAs leave their firms
is a lack of a defined career path. The more you can outline this career
path, and your firm's investment in its people, during the Orientation
process, the more likely you are to retain and develop these junior
professionals.
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