Planning a Self-Run Retreat

Rex Gatto, Ph.D. Gatto Associates, LLC

412-344-2277www.rexgatto.com

Outline

Outline

Planning a self-run Retreat

Let’s Change the NamePlanning a Self-Run Firm Advancement

Questions

Are partners ready for an Are partners ready for an Advancement meeting?Advancement meeting?

Is there a willingness to be open Is there a willingness to be open and express and listen to ideas?and express and listen to ideas?

Will partners be held accountable to Will partners be held accountable to take action based on the take action based on the Advancement meeting?Advancement meeting?

Questions

Willingness to bring up difficult issues and working Willingness to bring up difficult issues and working through deadlocked issues (partners face each other)through deadlocked issues (partners face each other)

Identifying the right people to lead the firmIdentifying the right people to lead the firm

Discussing staff’s readiness for: promotion, Discussing staff’s readiness for: promotion, development and those who need to leave the firmdevelopment and those who need to leave the firm

Why Hold a firm Advancement ?

Continue to ensure partners are doing the Continue to ensure partners are doing the right thingsright things

Address serious firm issues or problemsAddress serious firm issues or problems

Creatively address issues togetherCreatively address issues together

Make decisions about the firm and or staffMake decisions about the firm and or staff

CPECPE

Why Hold a firm Advancement ? #2

Establish a plan for successEstablish a plan for success

Discuss and focus on needed changeDiscuss and focus on needed change

Improve relationships within the firmImprove relationships within the firm

Steer the firm toward the Steer the firm toward the North StarNorth Star

Do not Hold a firm Advancement ?

If you are:If you are:

Having a meeting because we always have (play golf)Having a meeting because we always have (play golf)

Making a partner problem a firm problemMaking a partner problem a firm problem

Permitting the managing partner to make a day-long Permitting the managing partner to make a day-long presentationpresentation

Meeting to reward partners for a profitable yearMeeting to reward partners for a profitable year

Creating a hidden agenda (blindside)Creating a hidden agenda (blindside)

Not going to follow upNot going to follow up

Logistics and preparation

Create a Meeting Advancement Committee (MAC)Create a Meeting Advancement Committee (MAC)

Ensure the purpose for the Firm Advance Meeting is Ensure the purpose for the Firm Advance Meeting is ClearClear

Establish meeting expectations and results (partners, Establish meeting expectations and results (partners, managers, staff and admin) managers, staff and admin)

Establish whether or not an outside facilitator is neededEstablish whether or not an outside facilitator is needed

Collect information about the firm and or partnersCollect information about the firm and or partners

Find the right location ( meeting space, dinner, Find the right location ( meeting space, dinner, networking and events)networking and events)

Establish a clear Agenda with topics and time (ensure Establish a clear Agenda with topics and time (ensure partners understand the common purpose for this partners understand the common purpose for this meeting)meeting)

Logistics and preparation #2

Appoint topic leaders and indicate their Appoint topic leaders and indicate their responsibilitiesresponsibilities

Ensure topics will be adequately covered and Ensure topics will be adequately covered and discusseddiscussed

MAC should discuss possible outcomes, ramifications MAC should discuss possible outcomes, ramifications and consequences of topics (i.e. merger, staff)and consequences of topics (i.e. merger, staff)

Send the agenda, expectations and all info Send the agenda, expectations and all info (facilitator’s background) to everyone in the firm (no (facilitator’s background) to everyone in the firm (no secrets)secrets)

Record keeping process, how will notes be kept and Record keeping process, how will notes be kept and memorialized (flip chart or index cards)memorialized (flip chart or index cards)

Logistics and preparation #3

Meeting process: large and small discussion groups Meeting process: large and small discussion groups and reporting back (flip chart or index cards), identify and reporting back (flip chart or index cards), identify points of agreement and disagreementpoints of agreement and disagreement

Hold the meeting, collect and memorialize notes, Hold the meeting, collect and memorialize notes, debrief and send general discussion outcomes to debrief and send general discussion outcomes to everyone in the firmeveryone in the firm

Partners communicate to staff what was Partners communicate to staff what was accomplished (if this is playing golf then don’t call it a accomplished (if this is playing golf then don’t call it a meeting)meeting)

Accountability and follow up actionsAccountability and follow up actions

Collecting information

Write goals for the Advancement Write goals for the Advancement meeting (what will be the results – meeting (what will be the results – measured – projected outcomes)measured – projected outcomes)

Use a survey to assess the present Use a survey to assess the present levels of performance within the firm levels of performance within the firm

Use a 360˚partner assessment to Use a 360˚partner assessment to measure partner performancemeasure partner performance

Collecting information #2

Compile all of the reported data, write Compile all of the reported data, write a summary prior to the advancement a summary prior to the advancement meetingmeeting

Ask for strengths and areas of Ask for strengths and areas of developmentdevelopment

Identify follow up action for partners, Identify follow up action for partners, committees and nichescommittees and niches

Is the firm ready for growth?Is the firm ready for growth?

Let’s Explore

We will discuss each of the following We will discuss each of the following pointspoints

Goals Goals

Firm SurveyFirm Survey

Partner 360˚ feedbackPartner 360˚ feedback

Data on the firm (CPA affiliate Data on the firm (CPA affiliate association)association)

Follow up actionFollow up action

Goals

Succession planning (developing future leaders, Succession planning (developing future leaders, present leadership)present leadership)

Find and retain the right people for our firmFind and retain the right people for our firm

Marketing – Practice DevelopmentMarketing – Practice Development

Managing engagements (performance and Managing engagements (performance and efficiency, WIP)efficiency, WIP)

Partner accountabilityPartner accountability

Clients (who should we keep)Clients (who should we keep)

Firm Surveyquestions on staff

Firm Surveyquestions on staff

.

360° Assessment

Partner/Manager Partner/Manager AssessmentAssessment

Narrative responseNarrative response

Summary Summary

Summary Summary

Data Compiled Feedback

Action PlanAction Plan

What will you now What will you now do differently?do differently?

What actions can What actions can you maintain or you maintain or enhance?enhance?

What actions can What actions can you change?you change?

Setting goalsSetting goals

Outline

Three Stages to Build a Three Stages to Build a Firm CultureFirm Culture

Firms can be placed in one or more Firms can be placed in one or more of the three stages of firm of the three stages of firm development.development.

Think of your firm: in which stage or Think of your firm: in which stage or combination of stages is your firm?combination of stages is your firm?

It is important to know which stage It is important to know which stage your firm is in to plan for your your firm is in to plan for your meeting and hold effective meeting and hold effective discussions.discussions.

Three Stages to Build a Three Stages to Build a Firm CultureFirm Culture

Stage 1: Improving the firmStage 1: Improving the firm

Improving the firm through Improving the firm through planning and hiring the right planning and hiring the right people; planning for growth people; planning for growth

Energizing the firm through: Energizing the firm through: the ability to develop people the ability to develop people and inspire them to move and inspire them to move mountains mountains

Stage 1 ActionsStage 1 Actions

Stage 1: Improving the firmStage 1: Improving the firm

Set clear firm goals for the next Set clear firm goals for the next year –communicate quarterlyyear –communicate quarterly

Each partner is to submit 3 areas Each partner is to submit 3 areas of developmentof development

Have continual updates and Have continual updates and individual and firm individual and firm accomplishmentsaccomplishments

3 Stages to Build a Firm 3 Stages to Build a Firm CultureCulture

Stage 2: Firm culture is strongStage 2: Firm culture is strong

Through each partner’s work, Through each partner’s work, a one-culture firm is createda one-culture firm is created

Structure of the firm is Structure of the firm is established and working well established and working well (what and how of your work)(what and how of your work)

Stage 2 ActionsStage 2 Actions

Stage 2: Firm culture strongStage 2: Firm culture strong

Succession plan is establishedSuccession plan is established

Clarify niche goals and how Clarify niche goals and how they support firm goalsthey support firm goals

Focus on client developmentFocus on client development

3 Stages to Build a Firm 3 Stages to Build a Firm CultureCulture

Stage 3: Firm is GrowingStage 3: Firm is Growing

Growth and development of Growth and development of all the people in the firm; all the people in the firm; developing future leaders of developing future leaders of the firm (mentoring)the firm (mentoring)

Morale within the firm is high; Morale within the firm is high; firm is profitablefirm is profitable

Stage 3 ActionsStage 3 Actions

Stage 3: Firm growthStage 3: Firm growth

Look for expansion opportunitiesLook for expansion opportunities

Ensure the partners are Ensure the partners are continually and consistently using continually and consistently using feedback feedback

Focus and capitalize on Focus and capitalize on maintaining the strong firm maintaining the strong firm presencepresence

Discussing the Four Key Initiatives within a Firm

Individuals•Talent•Personality•Initiative•Business Opportunities•Skills

Development•Job engagement experience•CPE•Assess skills•Practice Development•Communication /morale

Partners•Direction of the firm•Making decisions•Optimize firm - investment•Leadership/role model•Business ability

Firm•Community relationships•Retention of right people•Profitability•Niche – staffed correctly•Culture

Partners as Role Models

Leadership, not be a managerLeadership, not be a manager

Work Life BalanceWork Life Balance

CompetentCompetent

CompassionCompassion

ConfidenceConfidence

Ethical (integrity)Ethical (integrity)

Balancing Work, Family, Balancing Work, Family, SelfSelf

Discussion on“Why Staff Stay with a Firm”

A strong relationship between partner and A strong relationship between partner and staff, loyalty, job satisfaction and staff, loyalty, job satisfaction and retention; and ethics, values, and retention; and ethics, values, and integrityintegrity

Review reasons given to join your firmReview reasons given to join your firm

General responsesGeneral responses

Values and culture 58%Values and culture 58%

Compensation 23%Compensation 23%

Career and Succession Planning

Know each individual’s abilities (me)Know each individual’s abilities (me)

Look for opportunities for your firm (we)Look for opportunities for your firm (we)

Match staff careers to what the firm offers (we)Match staff careers to what the firm offers (we)

Identify staff readiness (firm growth)Identify staff readiness (firm growth)

Partners continually talk with partners (we)Partners continually talk with partners (we)

Look at alternative scenarios for the career Look at alternative scenarios for the career plansplans

Create a Talent Balance (technical and people)Create a Talent Balance (technical and people)

Competitive Edge for your firm

Open lines of communicationOpen lines of communication

Have better understanding of Have better understanding of perceptions and sentiments of perceptions and sentiments of managers and staffmanagers and staff

Ensure key people are retainedEnsure key people are retained

Continue desired firm cultureContinue desired firm culture

Create greater success in development Create greater success in development of future leadersof future leaders

Why a firm Keeps staff?Why a firm Keeps staff?The Staff needs to:

Develop people skills

Develop leadership skills

Learn to manage a diverse workforce

Retain and motivate the right people

Outline

Measuring the Results Measuring the Results

Did the Advancement Meeting:Did the Advancement Meeting:

Help change the firm’s strategic direction?Help change the firm’s strategic direction?

Resolve conflicts or address confusion?Resolve conflicts or address confusion?

Create solutions to address problems?Create solutions to address problems?

Put partners on the same page?Put partners on the same page?

Improve working relationshipsImprove working relationships

Measuring the Results Measuring the Results #2#2

Did the Advancement Meeting:Did the Advancement Meeting:

Give partners the opportunity to Give partners the opportunity to demonstrate maturity and that they should demonstrate maturity and that they should continue as a partners in the firm?continue as a partners in the firm?

Create a common bond, language, point of Create a common bond, language, point of view or framework established through view or framework established through engaging conversation? Did people listen?engaging conversation? Did people listen?

Establish a clear collective vision for the Establish a clear collective vision for the firm?firm?

Follow up actionsFollow up actionsPresent and future leader development is Present and future leader development is

on goingon going

Responsibilities focus on AccountabilityResponsibilities focus on Accountability

Achieve a strategic, competitive edge in Achieve a strategic, competitive edge in the marketplace through your peoplethe marketplace through your people

Develop a talent pool for succession Develop a talent pool for succession planning and firm consistencyplanning and firm consistency

Retain and motivate your staff and adminRetain and motivate your staff and admin

Empower staff developmentEmpower staff development

Ask questions, listen and empathize Ask questions, listen and empathize key actionskey actions

Reinvent the firm through mentoring; Reinvent the firm through mentoring; continue to focus on successcontinue to focus on success

Leverage the team processLeverage the team process

Mentor-CoachMentor-Coach

Follow up actions #2

Partner and staff should have an Partner and staff should have an opportunity to:opportunity to:

Develop a career planDevelop a career plan

Develop an enhanced work plan (job Develop an enhanced work plan (job enrichment)enrichment)

Be rewarded the right wayBe rewarded the right way

Personnel Development

Benefits From Firm Benefits From Firm AdvancementAdvancement

Benefits are identified Benefits are identified in three key areas:in three key areas:

Continual firm growthContinual firm growth

Partners work well Partners work well together and lead the together and lead the firmfirm

Staff is developing Staff is developing and feel a part of the and feel a part of the firmfirm

Benefits to staff Benefits to staff

Enhance communication skillsEnhance communication skills

Build rapportBuild rapport

Develop sensitivity towards othersDevelop sensitivity towards others

Rethink and re-experience the firm Rethink and re-experience the firm with renewed spiritwith renewed spirit

Support and develop each otherSupport and develop each other

Benefits to the firmBenefits to the firm

Reduce turnover of effective, right Reduce turnover of effective, right employeesemployees

Strengthen the firm cultureStrengthen the firm culture

Pass core values from generation Pass core values from generation to generationto generation

Achieve cohesiveness and Achieve cohesiveness and consistency in the firmconsistency in the firm

Develop future leadersDevelop future leaders

Benefits to the firmBenefits to the firmEstablish goalsEstablish goals

Improve performanceImprove performance

Build rapport and teamwork in each niche Build rapport and teamwork in each niche or department.or department.

Have a greater sense of involvement and Have a greater sense of involvement and belonging to the firm – increased job belonging to the firm – increased job related satisfactionrelated satisfaction

Be provided with a safe environment for Be provided with a safe environment for growth, learning and developmentgrowth, learning and development

Action PlannerAction Planner

Set clear and measurable GoalsSet clear and measurable Goals

Plan for the unknownPlan for the unknown

Weekly self-updatesWeekly self-updates

Career PlanCareer Plan

Coaching phasesCoaching phases

Outline

SummarySummary

Purpose for the Advancement Purpose for the Advancement Meeting is to create a direction for Meeting is to create a direction for the firmthe firm

Ensure the firm strengths and Ensure the firm strengths and development process are development process are established and clearestablished and clear

Longevity of the firm is assuredLongevity of the firm is assured

Network, relax and have funNetwork, relax and have fun