Develop the Middle - Win the Talent War
Retaining and attracting talent continues to sit at the top of the list of challenges facing accounting firms. The placement of retention in front of attraction is intentional, because that is where a firm should focus.
While important, “perks” such as flex-time and in-office massage therapists during tax season are bandages rather than solutions. Until firms focus on the problem’s root—little or no development of the firm’s middle management—they will struggle to keep the best people.
People Leave Bad Managers – Not Bad Firms
The adage, People do not leave bad firms—they leave bad managers, has never been more relevant. Generations X and Y are flooding the workplace, and they are significantly different than Builders and Baby Boomers.
Relying on firm loyalty to keep employees around is not enough. A firm must offer the total package—a pleasant work environment, work/life balance and opportunities to succeed and develop. The best way to make certain they get the total package is to match them up with excellent managers.
Where Are These “Good Managers”?
They are probably sitting in an office or cubicle somewhere inside your firm. They simply haven’t been given the attention and support to transform from good employees to great managers. Most firms look for the magic bullet, but there isn’t one—they must invest in mid-level employees in order to maximize their potential.
Here are some of the most significant issues holding firms back—along with potential solutions:
| Issue | Solution |
| Ownership is compensated on a book of business and chargeable hours. Mid-level employees feel pressured to spend time working on clients at the expense of working on the firm and helping employees develop their skills.
| Develop a goal-oriented compensation system including a balance scorecard that focuses on financial and non-financial success factors. Include management and soft-skill development.
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| Training plans are technically focused and are a means to the end of meeting CPE requirements.
| Foster a Training & Learning Culture that focuses on CPE, soft skills, leadership and management
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| Succession planning is viewed as an issue to be addressed only when necessary, meaning the firm will likely hire from the outside.
| Shift focus to the future and develop talent at all levels—especially the oft-ignored middle.
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Consequences of Not Developing the Middle
So what are the consequences of not developing your mid-level people? It will affect your firm on multiple fronts.
- Financial – Obviously, if you lose people—especially the best and most experienced—the firm will have to make a significant investment to recruit and hire replacements. This investment will invariably outweigh the one required to develop those you already employ.
- Culture – It is burdensome to sustain a thriving work culture when employees come and go.
- Human Resources – If the HR department is constantly transitioning employees in and out, it is taken away from efforts that pay off in the long run—making the work experience better for existing employees.
- Process – There is a reason certain people have better opportunities for employment – they are talented and possess extraordinary potential. If your firm is like most, it does not plan and document its processes. As a result, even the best employees cannot execute to their full potential.
- Succession Planning – The sustainability of your firm and its culture are better served by developing leaders from within. Providing opportunities to develop a well-rounded skill set results in a pool of future leaders throughout the firm.
The Performance3™ Management Program
Boomer Consulting, Inc. in cooperation with other industry experts has developed a new and exciting program to teach management skills to the middle of your firm—The Performance3™ Management Program.
The program offers an environment where each participant is challenged to learn and develop new skills by leveraging the knowledge of their peers and Boomer Consulting, Inc. The goal is to amplify each manager's capabilities and confidence to execute the functions of planning, people and processes within their areas of the firm.
The Performance3™ Management Program is structured to be much more than a workshop. It is modeled after our successful Boomer Technology Circles but caters exclusively to current and potential managers. Some features include:
- Relevant Content
- Professional Facilitation
- Professional Coaching
- Year-round Accountability
- The Boomer Advantage Guides
- Web-based Tools
- Best Practices
With concern for managers being away from the office and chargeable work, the Performance3™ Management Program is intentionally limited to two 1 ½ day classes per year. However, relationships based on the face-to-face contact with peers, our web-based tools and coaching calls offer participants a 365 days per year experience. We are confident that the skills your mid-level people obtain through the program will pay for the investment many times over.
