1 See www.prb.org/pdf11/aging-in-america.pdf.
2 See www.accountancyage.com/aa/news/2169528/female-accountants-paid-fifth-male-counterparts.
3 See http://accounting.smartpros.com/x57059.xml.
4 See www.aicpa.org/Career/WorkLifeBalance/DownloadableDocuments/ResearchPaper_v5.pdf.
1 Geary A Rummler and Alan P. Brache are partners in the Rummler-Brache Group, a research and consulting group specializing in the design and development of organization performance systems for businesses.
2 Dagmar Recklies is cofounder and managing director of Recklies Management Project GmbH. For more information see www.themanager.org.
3 The topic of what successful leaders do is dealt with in chapter 5, “Your Role as the Leader,” of this book.
1 This chapter is based on an article written by August J. Aquila and Robert J. Lees and is adapted with the permission of the authors.
1 See www.hrmagazine.co.uk/hr/features/1020252/aligning-performance-management-business-strategy.
1 The material for this chapter comes from primary research conducted by August Aquila, Robert Lees, and Derek Klyhn in 2010 and 2011. Originally published in the March and April 2012 issues of Of Counsel: The Legal Practice and Management Report. The material is used with permission by the authors.
2 For more on this topic, see Patrick J. McKenna’s and Brian K. Burke’s Serving at the Pleasure of My Partners: Advice to the New Firm Leader.
1 The lockstep income distribution system embodies a philosophy of equal sharing of income among those owners who are at the same level of tenure with the firm without being overly concerned about their exact contributions. For more information see Compensation as a Strategic Asset: The New Paradigm.
2 See http://amlawdaily.typepad.com/amlawdaily/2009/12/salaries.html.
3 See http://telbergnotebook.blogspot.com/2005/02/boomers-x-ers-and-yscpa-generation-gap.html.
4 See http://telbergnotebook.blogspot.com/2004/11/what-your-workforce-really-wants.html.
5 See footnote 4.
1 See. http://sidsavara.com/personal-productivity/fact-or-fiction-the-truth-about-the-harvard-written-goal-study.
2 See http://www.dominican.edu/dominicannews/study-backs-up-strategies-for-achieving-goals.
3 Unpublished article written by Robert J. Lees and August J. Aquila—March 2012.
1 See www.psychologytoday.com/basics/motivation.
2 Much of this information comes from Client at the Core: Marketing and Managing Today’s Professional Services Firm by August Aquila and Bruce W. Marcus.
1 See exhibit 9-1, “What Makes a Good Plan,” at the end of this chapter for the key elements that make up a good compensation plan.
1 See the Rosenberg MAP Survey or the Inside Public Accounting Annual Survey.
2 “Finders” are those partners and team members who excel at developing new client relationships or increasing the scale and scope of existing relationships. “Minders” are those partners and team members who excel at servicing and managing client expectations and relationships. “Grinders” are those partners and team members who excel at the technical aspects of client work.
1 The reader is also referred to The PCPS Top Talent Study: Gaining a Strategic Advantage in Recruiting and Retention.
2 Aquila, August, “Partner Accountability—How to Achieve It”, Accounting Today, April 20, 2009.
* We present various samples of performance bonus agreements in chapter 14, “How to Compile and Assimilate a Bonus Performance Plan.”
1 See www.cba.org/cba/practicelink/leadership_strategy/mp-evaluation.aspx.
2 Provided by Marc Rosenberg CPA, The Rosenberg Associates. Reprinted with Permission.
3 “How to Compensate Law Firm Managing Partners,” The Legal Intelligencer, http://www.law.com/jsp/pa/PubArticleFriendlyPA.jsp?id=1202494167945&slreturn=1.
1 In our earlier book, Compensation as a Strategic Asset: The New Paradigm, we presented six different ways to compensate owners. The reader is referred to chapter 12, “Pay for Performance: Align Compensation to Firm Initiatives,” for additional approaches.
2 HLB Tautges Redpath, Ltd., a Minneapolis CPA firm, was the first firm to become 100 percent employee owned.
3 A 360-degree survey is a system or process in which owners and employees receive confidential, anonymous feedback from the people who work around them. The surveys can address leadership, cultural values, competencies, and so on. In Compensation as a Strategic Asset: The New Paradigm, we discuss core values and how to develop and evaluate them.
1 The survey was conducted by the authors in the fall of 2011 with the assistance of the AICPA’s Private Companies Practice Section (PCPS).