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Point of Action TrainingTips Newsletter<= /p>		Practical Bus= iness Learning Spring 2005

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Greeti= ngs! =

Wel= come to TrainingTips, Point of Action's quarterly online newsletter for accounting and business consulting professionals. In this issue, we exp= lore the spring-time performance appraisal process and suggest strategies for maximizing performance feedback.

In This = Issue:

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· Perfor= mance Appraisal Time!

· Retain= ing Talented Staff

· Tips f= or Delivering Effective Feedback

= · Client Spotlight

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Retaining Talented Staff

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According to an AICPA survey, local CPA firms experience turnover rates that range from 7%-10% a year, while turnover rates at national firms hover between 22% and 28% per year. For regional firms, turnover rates that exceed 20% can be costly, both financially and cu= lturally.

O= ne way to reduce unwanted turnover and retain your top performers is by maximixing the performance feedback process. Contrary to popular beli= ef, most staff people do not leave a firm for more money. Most staff leav= e a firm because they don't see a clear career path, they feel that they = are not being challenged to their fullest potential, and they are not receiving adequate support and direction from their supervisors and partners.

W= hen completing performance reviews, contribute to your firm's retention efforts by highlighting the accomplishments that your staff people ha= ve made over the past year and offer insights on what it takes to advanc= e to the next level and what rewards will follow. Make an effort to ask st= aff what more the firm could do to challenge them and encourage their professional growth, and ensure that supervisors and partners are creating a cohesive team environment that supports each individual's career development.

By providing staff with a clear and exciting career path, challenging opportunities, and a supportive management team, you can help to reta= in your talented staff for years to come.

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Tips for Delivering Effective Feedback=

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Written:

1. Create a "feedback sandwich." Begin with a positive observation, followed by a slice of constructive criticism, and concl= ude with a positive benefit. For example: "You are technically very competent, and by improving your client relationship-building skills,= you will be able to develop into your client's trusted business advisor a= nd advance at the firm."

2. Adjust your tone. Replace harsh demands with developmental suggestions. For example, replace: "You need to tell the engagem= ent team when you need to leave early," with "It would be great= if in the future you could tell the team when you need to leave early.&q= uot;

3. Avoid "eraser" words that negate a positive observation.= For example, replace "You are a hard worker, but...." with "You are a hard worker, and...."

4. Focus on specifics. Replace general phrases such as, "You sho= uld self-review your work more closely before submitting it," with "On XYZ engagement, I noticed three instances where the work pap= ers did not adequately reference the supporting documentation..."

V= erbal:

1. Begin with an open-ended conversation starter. Ask who, what, wher= e, when, how and why questions to prompt reflection and discussion. Exam= ples might include:

"What have you enjoyed most about working here this past year?&q= uot;

"What were some of the successes you had? Challenges you encountered?"

"What can we do to make this year even better than last?" <= br>
2. Avoid harsh body language. Sitting with your arms folded, position= ing yourself across a desk or table, or avoiding eye contact with your reviewee can create an unproductive performance review meeting. Sit n= ext to your employee with your arms relaxed and your attention focused to demonstrate your commitment to this staff person's development.

3. Encourage a two-way dialogue. Nothing is more discouraging than leaving a performance review meeting feeling like you were not heard.= Ask open- ended questions throughout the review meeting and summarize the staff person's responses prior to offering your own suggestions.

D= rafting and delivering effective feedback is not rocket science, but it does = take some deliberate time and effort to help your staff people succeed.

Client Spotlight

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*** <= /o:p>

L= earn how Point of Action helped Berry, Dunn, McNeil & Parker, a Top 100 CPA firm, benchmark its human capital to ensure wise investment of st= aff development dollars.

C= lick the link below to access this article, published by INSIGHT Magazine, which provides a step-by-step approach for establishing internal staff performance benchmarks and monitoring training quality.

Article Link... »

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Performance Appraisal Time!

For many CPA firms, May marks the start of the annual performance appraisal process. Perhaps one of the most valuable staff development and retention tools if used correctly, the performance evaluation process often produces much anxiety and uncertainty for reviewers and reviewees alike. Here are some simple steps to help your professionals maximize the performance review process:

F= irst, let all of your professionals know that the performance review proces= s is beginning and explain the importance of candid, constructive feedback= to both individual development and Firm success. If you are having difficulty getting your staff to complete performance evaluation form= s, consider sponsoring a firm-wide "Catch-Up Day," where all employees wear jeans to work and spend a morning completing the administrative and house-keeping tasks that may have mounted during b= usy season-including writing performance evaluations. Give prizes for high evaluation response rates by staff level or department. Visit offices= and cubicles to see if anyone is having difficulty completing an evaluati= on form and offer support and suggestions. Keep the day light and productive-and, of course, serve pizza for lunch to motivate your tea= m!

S= econd, consider offering a brief training session or "lunch and learn&q= uot; to help reviewers to draft and deliver constructive performance feedb= ack. Much of the anxiety that surrounds the performance review process is = due to a lack of knowledge and skills on how to write effective evaluation forms and deliver verbal performance feedback. A quick training sessi= on may help to reduce uncertainty and increase the comfort- level of the reviewers.

T= hird, the most successful performance review processes are those that encou= rage both upward and downward feedback. When supervisors are expected to develop their staff people and are evaluated and promoted based on th= eir staff development skills, they have an incentive to create stronger, = more productive relationships with staff and teams. Implementing a simple Upward Feedback process that solicits comments from staff people on t= heir supervisors' performance can contribute greatly to a continuous learn= ing environment. And don't forget the partners! Soliciting upward feedbac= k on partners at your firm will help to show the firm's overall commitment= to performance development.

Finally, make ongoing performance feedback a yearlong expectation. Once-a-year performance review meetings are insufficient in developing and retaining staff and should be supplemented with post-engagement e= valuations. Requiring supervisors to sit-down with their staff people on a monthl= y or quarterly basis can eliminate spring-time stress and discontent and create a more open, interactive workplace.

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	About Point of Action V= isit our website! Contact Us We continue to grow by referrals from our satisfied clients. Thank you!<= /span> AICPA's Journal of Accountancy AccountantsWorld American = Society for Training & Development

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    &nb= sp;email: kmcdonald@pointofaction.net
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     web: http://www.pointofaction.net

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