Vol. 6 No. 2, February 2014
The Leadership Forum is 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:
Everyone understands the importance of mentoring, but the vast majority of firms have failed at formal mentoring programs. For those firms that have successful mentoring programs, what have they done to achieve their success? How have they overcome the obstacles?
Consultants and Other Prominent Observers
| Marc Rosenberg | The Rosenberg Associates | www.rosenbergassoc.com [email protected] |
| 1. The firm has to really care about making their mentoring program successful. "Really care" does not mean "give it a try" and cross your fingers. It means putting the firm's heart and soul into the program, treating it just as important as bringing in new clients or performing client work professionally. 2. Success at mentoring must be an important factor in determining partner compensation. If it's not, then partners can essentially opt out of mentoring because they know that even if they are a total failure at mentoring, it won't affect their paycheck. 3. Like any aspect of management, there needs to be a reasonable amount of formality, accountability and goal setting for it to be effective. By formality, it doesn't mean that a mentor must act like a robot with his/her interaction with protégés scripted. Instead, it means that the overall program is well conceived and communicated to the masses and that someone is the champion for the program, making sure that basic things get done (assignment of mentors, interactions between mentors and protégés take place, feedback from protégés obtained, etc.). 4. Partners at CPA firms are usually very talented at performing client work and maintaining client relationships. Many years of education and experience enabled the development of these skills. But most partners do not possess innate mentoring skills. They need training and experience. |
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| William Carlino | Transition Advisors | www.transitionadvisors.com [email protected] |
| First and foremost, they have engaged the mentoring program right out of the gate for the younger employees. They get them involved in the process very early in their careers... More | ||
| Rita Keller | Keller Advisors, LLC | www.ritakeller.com [email protected] |
| Just like almost every other project, task or initiative inside a CPA firm, I have found that CPA firms tend to make their mentoring program too complicated, too intense, and almost too formal... More | ||
| Paul Rich | Rothstein Kass | [email protected] |
| ...We have an internal executive coach who works only with fellow partners in understanding client needs, dealing with interrelationships so they work more strongly as members of a team... More | ||
| Lisa Tierney | TIERNEY Coaching & Consulting, Inc. | www.TIERNEYCoaching-Consulting.com [email protected] |
| ... Here are my tips for being an effective mentor -- and mentee... For the Mentor: Commit to getting to know your mentee ... More |
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| Jennifer Wilson | ConvergenceCoaching LLC | www.convergencecoaching.com [email protected] |
| Define true expectations of the mentor and mentee, allow mentors to "opt in" so true people developers do the work, pay and reward true people developers in the firm -- really value those who can cultivate talent -- versus just valuing billings... More | ||