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The Leadership Forum Report
Wisdom from Thought Leaders in the Accounting Profession
Vol. 1 No. 6, June 2009
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In fulfilling our commitment to continuous improvement in CPA firm management, CPA Leadership Institute has created the Leadership Forum , a panel of the most prominent thought leaders in the profession. Each month we ask them to respond to a question dealing with CPA firm management and leadership.
This month's question is: Do the performance based compensation systems of most firms really motivate partners? Staff? If not, what is wrong with these systems?
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Consultants and Other Prominent Observers
| Jay N. Nisberg |
Jay Nisberg and Associates |
jaynisberg@snet.net |
| The following is a response by Dr. Nisberg to question previously asked but not reported on. The response is so pertinent, we want to be sure our readers see it.
Do most? No. Do many? Yes. The biggest problem with performance reviews is the attachment of the compensation discussion with the performance discussion… More
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| Rich Rinehart |
Grant Partners, LLC |
www.grantptrs.com
rrinehart@grantptrs.com |
| If performance based compensation systems are working properly then they measure the behaviors which when rewarded, propel a firm forward successfully. More |
| Troy Waugh |
FiveStar3, LLC |
www.waughco.com
twaugh@waughco.com |
| Some compensation systems motivate partners to undertake activities that benefit the partner at the expense of the firm. More |
| Sandra Wiley |
Boomer Consulting, Inc. |
www.boomer.com
Sandra.Wiley@boomer.com |
| Many firms are still under the assumption that the only performance is the billable hour and that is what their compensation models are based on. More |
| Jennifer Wilson |
ConvergeneCoaching LLC |
www.convergencecoaching.com |
| Yes, if they are implemented correctly. Most firms make mistakes in implementing these systems including: Not being specific enough about the performance expected... More |
Firm Leaders
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Richard Berkowitz
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Berkowitz Dick Pollack & Brant |
http://www.bdpb.com/ |
| Objective performance is not adequately defined; specific levels of performance are not specified or required… More |
| John C. Malone |
Malone & Bailey, PC |
http://www.malone-bailey.com/ |
| They can. Ours (eat-what-you-kill model emphasizing service and collections, and de-emphasizing admin.) certainly does. I love it! More |
| Marc Parkinson |
Petrinovich Pugh and Jones LLP |
www.ppandco.com |
| …a lot of the ones I have heard about don't. A lot do… More |
| John Sensiba |
Ireland San Filippo, LLP |
www.isfllp.com |
| I don't think that they do. Many are still too heavily weighted on the "book of business" mentality... More |
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