The Impressive Next Generation of Leaders

Source: Innovative Practice Management

Following are excerpts from this inspiring article:

Last week I had the distinct pleasure of attending a conference sponsored by one of the top accounting firm associations in the world. The International Group of Accounting Firms (IGAF). Everyone I met—Codgers, Gen Xers, Millennials—was exceptional, but what absolutely blew me away was the insightfulness of the ‘young’ partners. The 35 to 50 year old leaders. The Gen Xers.

The estimate is that up to 75% of the partners in accounting firms will retire in the next 10 to 15 years. Succession is a big concern in our profession. More important to me is whether or not we have future leaders who will perpetuate the ineffective model we have now—a business model that is over 100 years old and substantially ineffective in many ways—or will someone pick up the torch and challenge the ‘common belief’ that is practice management? Will the Gen Xers pick up where we Codgers leave off and employ their ability, motivation, intelligence and most importantly insight and innovation to address what we haven’t? Based on the group I met at IGAF, there is no doubt in my mind.

I hope they’ll let this old Codger hang out and provide a thought or two. We’ll have a new progressive business model incorporating service based pricing; a flexible working environment geared to the needs of the professional knowledge worker and integrated with those of the Firm; while re-establishing the accounting profession as the guardian, mentor and champion of world business.

To read the entire blog entry, click here and read “Gen X Rules and Codgers Drool!”

From Innovative Practice Management, the blog of Mark Bailey, http://www.markbaileyco.com/blog/, November 23, 2008.