Ten Agenda Items for Your Firm’s Retreat
Source: Partner’s Report for CPA Firm Owners
The following agenda items are recommended by L. Gary Boomer, Manhattan, Kansas.
· How to recruit people and keep them—develop a training program, improve systems, use part-time people during tax season, use outsourcing.
· Organization and management—use the corporate form, create job descriptions, appraise performance, and make sure partners know what their jobs require.
· Revenues per full-time equivalent—move toward value billing and set revenue goals.
· Partner compensation—use the balanced scorecard approach incorporating all relevant performance factors. Partners must be accountable and their progress reviewed throughout the year.
· Digital environment—develop a plan and timetable for a paperless system.
· Determine whether outsourcing is right for your firm.
· Become a learning organization—this may require a full-time person and outside help. Include soft skills.
· Develop processes and standards for all firm functions. Commitment to these should be incorporated into the compensation system. Accountability is crucial.
· Develop an IT plan and budget, and become integrated.
· Marketing—prepare a formalized plan. Hire a salesperson.
From Partner’s Report for CPA Firm Owners, May 2005. For the complete article, click here. For subscription information contact Institute of Management & Administration, Inc., 3 Park Avenue, 30th Floor, New York, NY 10016-5902. One-year subscription $329. 212-244-0360, [email protected].