Implementing Accountability

Source: Partner Insights

The following includes excerpts, reproduced with permission, of an article by August Aquila.

There are no out-of-pocket expenses to implement accountability. The real cost is your time and commitment to make it part of your firm's culture.

Here is a simple process to follow:

What is expected of me? In order to answer that question, firm leadership needs to set out individual goals. For some people you have to outline the what, when, and how. For others, it might just be to tell them the “what.”

Why am I doing this? You have told your people what to do, but we all know from first-hand experience that that does not mean they will do it. You need to explain to them why they should be doing it, how it fits into the firm's overall strategic plan and what's in it for them personally.

Is the goal measurable? Every goal that you set needs to be measurable and trackable. If you have a goal that you can't measure or track, then change the goal.

Am I given feedback? It's not possible to have true accountability without having effective feedback. Feedback provides the employee or partner with positive information as well as with information that can help him or her improve.

How are my results evaluated? There are varying degrees of results. Firms need to decide what will be acceptable to them. Everyone should be aware of the parameters. There should be no surprises during evaluation.

What are the consequences? If there are no consequences for failing to achieve one's goals, then there is no culture of accountability. It is important that everyone at the firm understands the consequences of his or her actions.

For the complete article, read “Accountability – It's Just What the Doctor Ordered.”

From Partner Insights, Aquila Global Advisors, LLC, July 2011, www.aquilaadvisors.com.