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Planning and Implementing Your
Firm’s Retreat
Rex Gatto, Ph.D. Gatto Associates, LLC
412-344-2277www.rexgatto.com
Outline
Outline
Outline
Outline
Outline
Planning and Taking Action
Let’s Change the NameFrom Firm Retreat to Firm Advancement
Questions for partners/managers as part of the planning
Are the Advancement Meeting Goals Are the Advancement Meeting Goals clear and agreed to?clear and agreed to?
Are partners ready for a physically, Are partners ready for a physically, mentally, and emotionally mentally, and emotionally Advancement Meeting?Advancement Meeting?
Is there a willingness to be open and Is there a willingness to be open and express, listen to ideas, and take express, listen to ideas, and take enhancement action (change)?enhancement action (change)?
Will partners be held accountable to Will partners be held accountable to take action based on the agreement at take action based on the agreement at the Advancement Meeting?the Advancement Meeting?
Questions for partners/managers as part of the planning
Willingness to bring up difficult issues and work Willingness to bring up difficult issues and work through deadlocked issues (partners face each through deadlocked issues (partners face each other)?other)?
Identifying the right people to lead the firm?Identifying the right people to lead the firm? Creating an environment that we at this firm are Creating an environment that we at this firm are
the role models for the firm?the role models for the firm? Identifying the right people in the succession Identifying the right people in the succession
plan?plan? Discussing staff’s readiness for: promotion and/or Discussing staff’s readiness for: promotion and/or
development, and discussing those who need to development, and discussing those who need to leave the firm?leave the firm?
Will we agree to put every service the firm offers Will we agree to put every service the firm offers on trial for its life?on trial for its life?
Why Hold a firm Advancement ?
Continue to ensure partners are doing the Continue to ensure partners are doing the right thingsright things
Address serious firm issues or problemsAddress serious firm issues or problems
Creatively address issues together (build Creatively address issues together (build a team)a team)
Have an open environment for Have an open environment for information exchangeinformation exchange
Make decisions about the firm and/or Make decisions about the firm and/or partners and staffpartners and staff
CPECPE
Why Hold a firm Advancement ? #2
Establish a plan for successEstablish a plan for success
Discuss and focus on needed changeDiscuss and focus on needed change
Improve relationships within the firmImprove relationships within the firm
Steer the firm toward the Steer the firm toward the North StarNorth Star
Do not Hold a firm Advancement:
If you are:If you are:
Having a meeting because we always have (play Having a meeting because we always have (play golf)golf)
Making a partner problem a firm problemMaking a partner problem a firm problem
Permitting the managing partner to make a day-Permitting the managing partner to make a day-long presentationlong presentation
Meeting to reward partners for a profitable yearMeeting to reward partners for a profitable year
Creating a hidden agenda (blindside)Creating a hidden agenda (blindside)
Not going to follow upNot going to follow up
Logistics and preparation
Create a Meeting Advancement Committee (MAC)Create a Meeting Advancement Committee (MAC)
Ensure the purpose for the Firm Advance Meeting is ClearEnsure the purpose for the Firm Advance Meeting is Clear
Establish meeting expectations and results (partners, Establish meeting expectations and results (partners, managers, staff and admin) managers, staff and admin)
Establish whether or not an outside facilitator is neededEstablish whether or not an outside facilitator is needed
Collect information about the firm and or partners (firm Collect information about the firm and or partners (firm survey)survey)
Find the right location ( meeting space, dinner, networking Find the right location ( meeting space, dinner, networking and events)and events)
Establish a clear Agenda with topics and time (ensure Establish a clear Agenda with topics and time (ensure partners understand the common purpose for this partners understand the common purpose for this meeting)meeting)
Logistics and preparation #2
Appoint topic leaders and indicate their responsibilitiesAppoint topic leaders and indicate their responsibilities
Ensure topics will be adequately covered and discussedEnsure topics will be adequately covered and discussed
MAC should discuss possible outcomes, ramifications MAC should discuss possible outcomes, ramifications and consequences of topics (i.e. merger, staff)and consequences of topics (i.e. merger, staff)
Send the agenda, expectations and all info (facilitator’s Send the agenda, expectations and all info (facilitator’s background) to everyone in the firm (no secrets)background) to everyone in the firm (no secrets)
Decide on record keeping process: how will notes be Decide on record keeping process: how will notes be kept and memorialized (flip chart or index cards)kept and memorialized (flip chart or index cards)
Collect notes, type the notes, and distribute after the Collect notes, type the notes, and distribute after the meeting as is appropriatemeeting as is appropriate
Logistics and preparation #3
Meeting process: large and small discussion Meeting process: large and small discussion groups and reporting back (flip chart or index groups and reporting back (flip chart or index cards), identify points of agreement and cards), identify points of agreement and disagreementdisagreement
Hold the meeting, collect and memorialize notes, Hold the meeting, collect and memorialize notes, debrief and send general discussion outcomes to debrief and send general discussion outcomes to everyone in the firmeveryone in the firm
Partners communicate to staff what was Partners communicate to staff what was accomplished (if this is playing golf, then don’t accomplished (if this is playing golf, then don’t call it a meeting)call it a meeting)
Accountability and follow up actionsAccountability and follow up actions
Collecting information
Write goals for the Advancement Write goals for the Advancement meeting (what will be the results meeting (what will be the results – measured – projected – measured – projected outcomes)outcomes)
Use a survey to assess the Use a survey to assess the present levels of performance present levels of performance within the firm within the firm
Use a 360˚partner assessment to Use a 360˚partner assessment to measure partner performancemeasure partner performance
Collecting information #2
Compile all of the reported data, Compile all of the reported data, write a summary prior to the write a summary prior to the advancement meetingadvancement meeting
Ask for strengths and areas of Ask for strengths and areas of developmentdevelopment
Identify follow up action for partners, Identify follow up action for partners, committees, and nichescommittees, and niches
Is the firm ready for growth?Is the firm ready for growth?
Let’s Explore
We will discuss each of the following We will discuss each of the following points:points:
Goals Goals
Firm SurveyFirm Survey
Partner 360˚ feedbackPartner 360˚ feedback
Data on the firm (CPA affiliate Data on the firm (CPA affiliate association)association)
Follow up actionFollow up action
Goals
Succession planning (developing future leaders, Succession planning (developing future leaders, present leadership)present leadership)
Find and retain the right people for our firmFind and retain the right people for our firm
Marketing – Practice DevelopmentMarketing – Practice Development
Managing engagements (performance and Managing engagements (performance and efficiency, WIP)efficiency, WIP)
Partner accountabilityPartner accountability
Clients (who should we keep)Clients (who should we keep)
Firm Surveyquestions on Partners and staff
Preparation for the Preparation for the
Firm Retreat Firm Retreat
or or
Advancement MeetingAdvancement Meeting
Based on Firm Survey ResultsBased on Firm Survey Results
Firm Surveyquestions on staff
Firm Surveyquestions on Partners
.
360° Assessment
Preparation for the
Firm Retreat
or
Advancement Meeting
Based on Partner/Manager Performance Feedback
Partner/Manager Partner/Manager AssessmentAssessment
Narrative responseNarrative response
Summary Summary
Data Compiled Feedback
Action PlanAction Plan
What will you now What will you now do differently?do differently?
What actions can What actions can you maintain or you maintain or enhance?enhance?
What actions can What actions can you change?you change?
Setting goalsSetting goals
.
Present Performance within Your Firm
Preparation for the
Firm Retreat
or
Advancement Meeting
Based on your Firm’s Culture
firm Performance
Three Stages to Build a Three Stages to Build a Firm CultureFirm Culture
Firms can be placed in one or a Firms can be placed in one or a combination of the three stages of firm combination of the three stages of firm development.development.
Think of your firm: in which stage or Think of your firm: in which stage or combination of stages is your firm combination of stages is your firm NOW? The stage your firm is in impacts NOW? The stage your firm is in impacts your firm Advancement!your firm Advancement!
It is important to know which stage your It is important to know which stage your firm is in to plan for your Advancement firm is in to plan for your Advancement Meeting and hold effective discussions.Meeting and hold effective discussions.
Stage 1Stage 1
Stage 1: Improving the firmStage 1: Improving the firmImproving the firm through planning Improving the firm through planning
and hiring the right people; planning and hiring the right people; planning for growth (merger/acquisition or for growth (merger/acquisition or expansion), niche development expansion), niche development
Energizing the firm through: the Energizing the firm through: the ability to develop people and inspire ability to develop people and inspire them to move mountains them to move mountains (mentoring process), succession (mentoring process), succession planningplanning
Stage 1 ActionsStage 1 Actions
Stage 1: Improving the firmStage 1: Improving the firmSet clear firm goals for the next Set clear firm goals for the next
year –communicate quarterly year –communicate quarterly (getting staff and admin buy-in)(getting staff and admin buy-in)
Each partner is to submit 1-3 Each partner is to submit 1-3 areas of developmentareas of development
Have continual updates and Have continual updates and individual and firm individual and firm accomplishments in each niche accomplishments in each niche or departmentor department
Stage 2Stage 2
Stage 2: Firm culture is strongStage 2: Firm culture is strong
Through each partner’s work, Through each partner’s work, a one-culture firm is createda one-culture firm is created
Structure of the firm is Structure of the firm is established and working well established and working well (what and how of your work)(what and how of your work)
Stage 2 ActionsStage 2 Actions
Stage 2: Firm culture strongStage 2: Firm culture strongSuccession plan is established Succession plan is established
(people are mentored and in (people are mentored and in preparation of promotion)preparation of promotion)
Clarify niche goals and how they Clarify niche goals and how they support firm goals (internal support firm goals (internal communication is strong – lunch and communication is strong – lunch and learn)learn)
Focus on client development (our Focus on client development (our approach to marketing is clear) approach to marketing is clear) (training our staff to network and (training our staff to network and involvement in the community)involvement in the community)
3 Stages to Build a Firm 3 Stages to Build a Firm CultureCulture
Stage 3: Firm is GrowingStage 3: Firm is Growing
Growth and development of all Growth and development of all the people in the firm; the people in the firm; developing future leaders of developing future leaders of the firm (mentoring)the firm (mentoring)
Morale within the firm is high; Morale within the firm is high; firm is profitable, there is a firm is profitable, there is a sense of sense of we can we can as a firm…….as a firm…….
Stage 3 ActionsStage 3 Actions
Stage 3: Firm growthStage 3: Firm growthLook for expansion opportunities Look for expansion opportunities
(merger/acquisitions or a strong internal (merger/acquisitions or a strong internal development program)development program)
Ensure the partners are continually and Ensure the partners are continually and consistently using feedback as a consistently using feedback as a developmental tool motivating staff developmental tool motivating staff
Focus and capitalize on maintaining the Focus and capitalize on maintaining the strong firm presence (partners, strong firm presence (partners, managers and staff are on boards and managers and staff are on boards and involved in the community)involved in the community)
Practice development is strong, there is Practice development is strong, there is an excitement about the future of the an excitement about the future of the firmfirm
.
Present Performance within Your Firm
Preparation for the
Firm Retreat
or
Advancement Meeting
Based on Key Initiatives
Discussing the Four Key Initiatives within a Firm
Individuals•Talent•Personality•Initiative•Business Opportunities•Skills
Development•Job engagement experience•CPE•Assess skills•Practice Development•Communication /morale
Partners•Direction of the firm•Making decisions•Optimize firm - investment•Leadership/role model•Business ability
Firm•Community relationships•Retention of right people•Profitability•Niche – staffed correctly•Culture
Topics for Planning your firm advancement Meeting
Are Partners Role Models:Are Partners Role Models:Leadership, not managerialLeadership, not managerialWork Life BalanceWork Life BalanceCompetentCompetentCompassionateCompassionateConfidentConfidentEthical (integrity)Ethical (integrity)
Topics for Planning your firm advancement Meeting
Do partners appropriately Do partners appropriately leverage their work and leverage their work and effectively utilizing staff?effectively utilizing staff?
Are right Billing Rates Are right Billing Rates established for estimating established for estimating work?work?
Is right Realization being Is right Realization being achieved for work?achieved for work?
Is WIP in line?Is WIP in line?
Balancing Work, Family, Balancing Work, Family, SelfSelf
Discussion on“Why Staff Stay with a Firm”
A strong relationship between partner and A strong relationship between partner and staff, loyalty, job satisfaction and staff, loyalty, job satisfaction and retention; and ethics, values, and retention; and ethics, values, and integrityintegrity
Review reasons given to join your firmReview reasons given to join your firm
General responsesGeneral responses
Values and culture 58%Values and culture 58%
Compensation 23%Compensation 23%
Competitive Edge for your firm
Open lines of communicationOpen lines of communication
Have better understanding of Have better understanding of perceptions and sentiments of perceptions and sentiments of managers and staffmanagers and staff
Ensure key people are retainedEnsure key people are retained
Continue desired firm cultureContinue desired firm culture
Create greater success in development Create greater success in development of future leadersof future leaders
.
Present Performance within Your Firm
Preparation for the
Firm Retreat
or
Advancement Meeting
Based on Follow-up Actions
Outline
Measuring the Results Measuring the Results
Did the Advancement Meeting:Did the Advancement Meeting:
Help change the firm’s strategic direction?Help change the firm’s strategic direction?
Resolve conflicts or address confusion?Resolve conflicts or address confusion?
Create solutions to address problems?Create solutions to address problems?
Put partners on the same page?Put partners on the same page?
Put partners/managers/staff/admin on the same Put partners/managers/staff/admin on the same page?page?
Improve working relationshipsImprove working relationships
Measuring the Results Measuring the Results #2#2
Did the Advancement Meeting:Did the Advancement Meeting:
Give partners the opportunity to Give partners the opportunity to demonstrate maturity to continue as a demonstrate maturity to continue as a partners in the firm?partners in the firm?
Create a common bond, language, point of Create a common bond, language, point of view or framework established through view or framework established through engaging conversation? Did people listen?engaging conversation? Did people listen?
Establish a clear collective vision for the Establish a clear collective vision for the firm?firm?
Follow up actionsFollow up actions• Present and future leader development Present and future leader development
is on goingis on going
• Responsibilities focus on AccountabilityResponsibilities focus on Accountability
• Achieve a strategic, competitive edge in Achieve a strategic, competitive edge in the marketplace through your peoplethe marketplace through your people
• Develop a talent pool for succession Develop a talent pool for succession planning and firm consistencyplanning and firm consistency
• Retain and motivate your staff and Retain and motivate your staff and adminadmin
• Empower staff developmentEmpower staff development
• Ask questions, listen and empathize Ask questions, listen and empathize key actionskey actions
• Reinvent the firm through mentoring; Reinvent the firm through mentoring; continue to focus on successcontinue to focus on success
• Leverage the team processLeverage the team process
• Mentor-CoachMentor-Coach
Follow up actions #2
Partner and staff should have an Partner and staff should have an opportunity to:opportunity to:
• Develop a career planDevelop a career plan
• Develop an enhanced work plan (job Develop an enhanced work plan (job enrichment)enrichment)
• Be rewarded the right wayBe rewarded the right way
Personnel Development
Action PlannerAction Planner
• Set clear and measurable GoalsSet clear and measurable Goals
• Plan for the unknownPlan for the unknown
• Weekly self-updatesWeekly self-updates
• Career PlanCareer Plan
• Coaching phasesCoaching phases
Outline
SummarySummary
• Purpose for the Advancement Purpose for the Advancement Meeting is to create a direction for Meeting is to create a direction for the firmthe firm
• Ensure the firm strengths and Ensure the firm strengths and development process are development process are established and clearestablished and clear
• Longevity of the firm is assuredLongevity of the firm is assured
• Network, relax and have funNetwork, relax and have fun
