how can you best contribute to your firm’s top line goals? presented by: art kuesel 2015 leading...
TRANSCRIPT
![Page 1: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/1.jpg)
How Can You Best Contribute to your Firm’s Top Line Goals?
Presented by: Art Kuesel
2015 Leading Partner Retreat &Firm Administrators Roundtable
CPAmerica International
![Page 2: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/2.jpg)
Art Kuesel, President
EXPERIENCE
¨ Sales Executive¨ 3 years inside $60M CPA firm¨ 5 years inside $25M CPA firm¨ 6 years at PDI/Koltin Consulting¨ 2.5 years at Kuesel Consulting
EXPERTISE Sales Coaching Sales/Marketing Training
EXPERTISE (Cont.) Keynotes, Presentations,
Workshops on Growth Growth Plan
Development/Implementation Managing Partner Coaching Sales & Marketing Recruiting
STREET CRED→ Top 100 Most Influential Person in
Public Accounting: 2014→ In-house and external experience→ Clients include scores of T250 Firms
including a third of the T100→ Frequent writer and blogger for
Accounting Today→ Accomplished speaker and
presenter on growth trends2
![Page 3: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/3.jpg)
2
![Page 4: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/4.jpg)
Today’s Workshop
1. AICPA/PCPS top issues 20152. Contributions via marketing:
Marketing culture - is marketing everybody’s responsibility at your firm?
3. Contributions via retention People development programs
4. Contributions via recruiting Enhancing your recruiting model
5. Contributions via direct revenue Building a practice to drive revenue
44
![Page 5: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/5.jpg)
Top Five AICPA/PCPS Issues
![Page 6: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/6.jpg)
Top Five AICPA/PCPS Issues 2015
1. Retaining Staff2. Finding Staff3. Partner Accountability and Unity4. Seasonality/Compression5. Succession Planning (tie)5. Finding New Clients (tie)
Source: AICPA/PCPS6
![Page 7: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/7.jpg)
Top Five AICPA/PCPS Issues 2015
1. Retaining Staff2. Finding Staff3. Partner Accountability and Unity4. Seasonality/Compression5. Succession Planning (tie)5. Finding New Clients (tie)
Source: AICPA/PCPS7
![Page 8: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/8.jpg)
Most Firm Succession Plans Require…
G-R-O-W-T-H !Growth Enables:1) Meet current/future DC needs2) Reward/Retain top performers3) Make new partners4) Fund service expansion5) Increase partner compensation
8
![Page 9: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/9.jpg)
Average Firm Growth Last Year
6.3%
This INCLUDES:Rate increasesCross-Selling New clientsMergers
9
![Page 10: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/10.jpg)
Is it enough?
Will 6.3% Growth Enable:
1) Meet current/future DC needs2) Reward/Retain top performers3) Make new partners4) Fund service expansion5) Increase partner compensation
10
![Page 11: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/11.jpg)
Most Firm Succession Plans Require…
WILL 6.3% ENABLE?
1) Meet current/future DC needs?
2) Reward/Retain top performers?
3) Make new partners?
4) Fund service expansion?
11
![Page 12: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/12.jpg)
Strategy #1: Build a Marketing Culture
![Page 13: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/13.jpg)
Growth with a Strong Marketing Culture?
DOUBLE?TRIPLE?
Fact: Firms with strong marketing cultures outperform their peers in growth.
13
![Page 14: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/14.jpg)
1) Set Roles/Expectations/Goals
Outline marketing roles/expectations/goals by level:
a) Partners (#/$)b) Managers/Senior Managers (#/$)c) Staff/Seniors/Supervisors (#)d) Administration (#)
What it does: Helps people understand generally what types of contributions we expect from them – and how they can contribute
1414
![Page 15: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/15.jpg)
2) Skills Training Workshops
Client developmentBuild a personal brandNetworkingBuild referral sourcesWin at the sales process
What it does: Gives your people basic tools and skills to succeed in various marketing and business development situations as well as be proactive in new areas 1515
![Page 16: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/16.jpg)
3) Referral Sources
Support your people in finding more high quality referral sources Banks, law firms, P&C insurance, FA’s Hold mixers FACILITATE prep FACILITATE follow-up
16
What it does: Gives your people easier access to potential referral sources. Gets more people involved in networking and referral source marketing
![Page 17: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/17.jpg)
4) Pipeline Meeting/Marketing Club
Talk about marketing and sales!Wins and LossesKey Pursuits/ProposalsReferrals In/OutChallenges and OpportunitiesGroup Therapy!
What it does: Enhances communication, knowledge sharing about wins, help each other with challenges, reminder of goal, develop marketing mindset
1717
![Page 18: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/18.jpg)
5) FORMAL Client DevelopmentTarget top 25 relationshipsBuild more and deeper relationshipsEducate clients on servicesUncover opportunities for additional revenue (cross-sell)Seek referralsFACILITATE Satisfaction interviews
What it does: Assists in creating stronger bonds with your clients, enhances selling skills of your people, grows revenue, boosts client retention
1818
![Page 19: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/19.jpg)
6) Niche DevelopmentUncover hidden niches in your firm“The riches are in the niches”Specialization wins every time Niches are fueling growth (is compliance?)Build a passionate team that can: Target participation in an association Develop thought leadership Pursue a targeted list of referral sources and prospects
What it does: Creates teaming opportunities among staff, enables greater marketing success, creates greater retention among clients in that niche 19
![Page 20: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/20.jpg)
Place client logo here
Niche Practice Growth 80% +
Source: Accounting Today
60% +
![Page 21: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/21.jpg)
7) Internal “PR”
Communicate about marketing often!
• “Another Win” Emails• Key Pursuit Communication• Conf. Room Celebrations• “Bolt-on” Communication
21
What it does: Publicizes success, fuels excitement, reminds of importance of marketing
![Page 22: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/22.jpg)
8) Rewards
Make it worth their time:Commission/Bonus on New Business (Results)Rewards for Individual EFFORTRewards for Group Results
What it does: Incentivizes individual and group behavior. People band together to achieve a goal.
22
![Page 23: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/23.jpg)
9) Content/Social/Thought Leadership
Refine your Content StrategyEducating is Selling!Content marketing engages clients, prospects, and referral sourcesDemonstrates knowledge and mastery of a topic Engage your people to writeLeverage/Maximize your Social Media channels starting with LinkedIN and blogging
23
What it does: Engages more people in the marketing process, engages clients, prospects and referral sources
![Page 24: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/24.jpg)
10) Key Hires
Hiring a marketing professionalCan help drive grass roots/institutional efforts
Hiring a sales professionalBring new opportunities in the door
Lateral hires: Practice buildersStart or boost a niche with an external hire
24
What it does: Tells EVERYBODY in the firm that the firm is serious about marketing/sales.
![Page 25: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/25.jpg)
Results: 50 Person Firm/California
Marketing Culture Development Began in 2011
Efforts have included:Roles & Responsibilities by Level, “First Ever” Marketing Plan, Marketing Skills Training, Pipeline Meeting, Marketing Club, Enhanced Incentives
Results: 2011-2014 Revenue Growth = 7.3-11.4% per year (HALF of which
came from new contributors and non partners) In 2012 compensation/raises began rewarding for marketing
effort and behavior as marketing is a responsibility for everyone at the firm
25
![Page 26: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/26.jpg)
Results: 40 Person Firm/Pacific Northwest
Marketing Culture Development Began mid-2011
What they did:
Roles & Responsibilities by Level, Niche Development, Client Development, Marketing Skills Training, Pipeline Meeting, Marketing Club, Enhanced Activity Incentives
Results: 2012 New Revenue Nearly $1M 2013 New Revenue $650K 2014 New Revenue $450K
![Page 27: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/27.jpg)
Marketing: BEST IDEAS [Discussion]
As COO/FA have you implemented a powerful or unique marketing idea?
27
![Page 28: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/28.jpg)
Strategy #2: Retention
![Page 29: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/29.jpg)
Top Five AICPA/PCPS Issues 2015
1. Retaining Staff
2. Finding Staff
3. Partner Accountability and Unity
4. Seasonality/Compression
5. Succession Planning (tie)
5. Finding New Clients (tie)
Source: AICPA/PCPS
29
![Page 30: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/30.jpg)
Top Five AICPA/PCPS Issues 2015
1. Retaining Staff
2. Finding Staff
3. Partner Accountability and Unity
4. Seasonality/Compression
5. Succession Planning (tie)
5. Finding New Clients (tie)
Source: AICPA/PCPS
30
![Page 31: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/31.jpg)
High People Retention Influences:
Reduced costs/time for recruiting
Happy people refer their friends
Happy people take better care of their clients
Happy clients stay with firms longer (and buy more)
This all makes GROWTH easier!
31
![Page 32: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/32.jpg)
What Top Talent Wants! Feedback/Reinforcement/Recognition Flexibility Culture of Training/Development/Mentorship Top Technology Collaborative Environment Complete Transparency Be a Part of Something Bigger/Make a Difference Leadership Opportunities Above Average Compensation
32
![Page 33: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/33.jpg)
What’s in your “Retention Plan?”
• Better and more Frequent Feedback/Communication
• Internal Training Academy• Flex/Remote Arrangements• Internal Culture Committee• Firm Events• Leadership Opportunities @ All
Levels• Internal Recruiting Committee
33
![Page 34: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/34.jpg)
Internal Training Academy “XYZ-University”
34
Firm Development
Business Development
People Development
Client Development
Personal/Professional Development
![Page 35: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/35.jpg)
Personal and Professional Development
• Personal SWOT• Defining your Personal
Leadership Style*• Creating a Personal
Development Plan• Time Management 101• Accounting Firm KPI’s:
How a Firm Really Makes Money
35
![Page 36: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/36.jpg)
Client Development
• Understanding your Role with the Client
• Being a Proactive Advisor• Developing Relationships
and Building Trust• Cross-Serving/Selling• Achieving Loyalty – and
Referrals!
36
![Page 37: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/37.jpg)
People Development
• Delegation and Leverage as a Development Tool
• Team Building 101• Serving as a Mentor and
Coach to your Team• Performance
Management • Delivering Effective
Feedback37
![Page 38: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/38.jpg)
Business Development
• Building a Personal Brand and/or Niche
• Capitalizing on your Biggest Asset: Clients
• Developing a Referral Source Network
• Succeeding at the Sales Process
38
![Page 39: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/39.jpg)
Firm Development
• Herding Cats: Leading Other Professionals
• Creating a Culture of Accountability
• Strategic Planning 101• Leveraging Technology• Talent Acquisition &
Retention• Niche Growth and
Expansion39
![Page 40: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/40.jpg)
Higher Retention Facilitates Growth!
40
=
![Page 41: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/41.jpg)
Higher Retention Facilitates Growth!
1. Benchmark
2. Set a Goal
3. Develop a Plan
4. Build a Team
5. Implement
6. Measure
41
![Page 42: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/42.jpg)
What’s Working @ Our Firms?
60 Partner Firm• Internal Leadership
Academy• Hartman Assessment• Path to Partner
Program• Internal and External
Coaches• ELA
42
![Page 43: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/43.jpg)
What’s Working @ Our Firms?
25 Partner Firm• CPAM NextGEN• Internal Coaching
Program• Roundtables• ELA
43
![Page 44: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/44.jpg)
What’s Working @ Our Firms?
15 Partner Firm• Elevated HR Role• Leadership and
Development Courses
• Internal Mentorship• Rainmaker
44
![Page 45: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/45.jpg)
What’s Working @ Our Firms?
10 Partner Firm• New Talent/Learning
Director• CPAM
NextGEN/CALCPA YP• DiSC & Course
Offerings• ELA
45
![Page 46: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/46.jpg)
Retention: BEST IDEAS [Discussion]
Have you implemented a powerful or unique retention idea?
46
![Page 47: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/47.jpg)
Strategy #3: Recruiting
![Page 48: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/48.jpg)
Top Five AICPA/PCPS Issues 2015
1. Retaining Staff
2. Finding Staff
3. Partner Accountability and Unity
4. Seasonality/Compression
5. Succession Planning (tie)
5. Finding New Clients (tie)
Source: AICPA/PCPS
48
![Page 49: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/49.jpg)
Top Five AICPA/PCPS Issues 2015
1. Retaining Staff
2. Finding Staff
3. Partner Accountability and Unity
4. Seasonality/Compression
5. Succession Planning (tie)
5. Finding New Clients (tie)
Source: AICPA/PCPS
49
![Page 50: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/50.jpg)
More Effective Recruiting Influences:
Reduced costs/burden for recruiting (doing less of it!)
Recruits more aligned with culture (easy on everyone)
“Good fit” people will recruit their “good fitting” friends someday
Reduced annual voluntary turnover
This makes GROWTH easier50
![Page 51: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/51.jpg)
Reactive Hiring Model
1. We run lean so there isn’t any excess capacity, because that would be foolish.
2. Someone quits
3. We scramble to begin the hiring process
4. The remaining team members struggle to maintain service levels
5. We “settle” on the best person we can find at the time (but know they aren’t a long-term fit)
6. REPEAT WHEN THEY QUIT 51
![Page 52: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/52.jpg)
Reactive Hiring Model
1. We run lean so there isn’t any excess capacity, because that would be foolish.
2. Someone quits
3. We scramble to begin the hiring process
4. The remaining team members struggle to maintain service levels
5. We “settle” on the best person we can find at the time (but know they aren’t a long-term fit)
6. REPEAT WHEN THEY QUIT 52
![Page 53: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/53.jpg)
Proactive Hiring Model
1. Attempt to over-hire in each department by 10+%. There is some “slack” in the system to deal with unanticipated issues. Anticipates attrition
2. Maintains a pipeline of possible candidates at all times
3. When someone quits, it’s not a crisis and our team members don’t suffer/struggle
4. And, because there isn’t an acute crisis we can hire the right person who is a long-term fit
5. Long term we have more of the right people and better retention!
53
![Page 54: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/54.jpg)
Proactive Hiring Model
1. Attempt to over-hire in each department by 10+%. There is some “slack” in the system to deal with unanticipated issues. Anticipates attrition
2. Maintains a pipeline of possible candidates at all times
3. When someone quits, it’s not a crisis and our team members don’t suffer/struggle
4. And, because there isn’t an acute crisis we can hire the right person who is a long-term fit
5. Long term we have more of the right people and better retention!
54
![Page 55: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/55.jpg)
A Few Concerning Statistics…
![Page 56: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/56.jpg)
Talent Shortage Issues
56Source: Accounting Today
![Page 57: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/57.jpg)
Just the facts…
New bachelor graduates 2003: 53,000 New bachelor graduates 2009: 35,000 New bachelor graduates 2011: 53,000
>>>The ranks of our 6-9 year experienced professionals are meager!
57
![Page 58: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/58.jpg)
New Graduates Hired by CPA Firms 2014
58
< 24,900
< 18,300
< 43,200
Source: Accounting Today
![Page 59: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/59.jpg)
Just the facts…
Expected hiring demand for accounting graduates across all industries to grow about 16% through 2020.
Expected growth for accounting firms is about 52% through 2020.
Source: BLS and Accounting Today
What does this mean?
59
![Page 60: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/60.jpg)
Just the facts…
In 1990 we hired 31% of available graduates…
In 2000 we hired 32% of available graduates…
In 2005 we hired 33% of available graduates…
In 2012 we hired 48% of available graduates…
In 2014 we hired 53% of available graduates….Source: BLS and Accounting Today
60
![Page 61: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/61.jpg)
> Just the facts…
Expected hiring demand for accounting graduates across all industries to grow about 16% through 2020.
Expected growth for accounting firms is about 52% through 2020.
Source: BLS and Accounting Today
What does this mean?
61Source: Accounting Today
![Page 62: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/62.jpg)
What’s in your COLLEGE Recruiting Plan?
College Recruiting
1. Who’s representing your firm?
2. Are you at the right schools?
3. Are you nimble and quick?
4. Do you have relationships with professors?
5. What are you sponsoring at the school?
6. Have you considered the Hogan assessment?
7. Is your marketing adequate?
62
![Page 63: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/63.jpg)
What’s in your EXPERIENCED Recruiting Plan?
Experienced Hires
1. Are you leveraging your staff?
2. Do key leaders have personal/individual talent pipelines?
3. Do you know who’s your next big hire?
4. Do you have relationships with (good) recruiters?
5. Are you limiting yourself unnecessarily by geography?
6. Are you fully considering non-traditional hires?
7. Is your marketing adequate?63
![Page 64: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/64.jpg)
Why is Sourcing Recruits Solely your Responsibility?
64
![Page 65: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/65.jpg)
Leverage your Staff!
Every firm has a significantly underutilized recruiting engine – it’s people. (each firm is its own recruiting agency!)
In many cases your client service staff will have existing connections that can be leveraged immediately
It’s can be faster, cheaper, and produce higher quality candidates than doing a job posting…
65
![Page 66: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/66.jpg)
Staff Recruiting Committee
Establish a recruiting committee Publish every opening internally and
using your firm’s social media Talk about recruiting often in meetings Offer a generous recruitment bonus Host proprietary recruiting events Celebrate recruiting successes
66
![Page 67: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/67.jpg)
Consider Personal Talent Pipelines
An active list of people who are suspects for employment by your firm.
They are touched quarterly with information of value
The pipeline is developed and managed individually by each one of your people.
Considered a RESPONSIBILITY
67
Name Focus Years Exp
Firm Last Touch
Next Touch
Notes
Colleen Kuesel
AuditNPO
14 EY March 2015
August 2015
NPO Leader?
![Page 68: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/68.jpg)
> Why it makes sense?
Great people are hard to find Culture fit is easier to assess It’s relatively easy and it takes just a few hours of
non-billable time per person per quarter It fills the medium/long term pipeline You can pay a bonus to your people instead of a
recruiter
68
![Page 69: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/69.jpg)
Better Recruiting Facilitates Growth!
69
=
![Page 70: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/70.jpg)
Develop your Recruiting Plan
1. Benchmark
2. Set a Goal
3. Develop a Plan
4. Build a Team
5. Implement
6. Measure
70
![Page 71: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/71.jpg)
Recruiting: BEST IDEAS [Discussion]
Have you implemented a powerful or unique recruiting idea?
71
![Page 72: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/72.jpg)
Strategy #4: Build a Practice
![Page 73: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/73.jpg)
Top Five AICPA/PCPS Issues 2015
1. Retaining Staff
2. Finding Staff
3. Partner Accountability and Unity
4. Seasonality/Compression
5. Succession Planning (tie)
5. Finding New Clients (tie)
Source: AICPA/PCPS
73
![Page 74: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/74.jpg)
Top Five AICPA/PCPS Issues 2015
1. Retaining Staff
2. Finding Staff
3. Partner Accountability and Unity
4. Seasonality/Compression
5. Succession Planning (tie)
5. Finding New Clients (tie)
Source: AICPA/PCPS
74
![Page 75: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/75.jpg)
Why Build a Practice?
1. Help firm clients
2. Indisputably contribute to growth
3. Increases your financial value/leverage
4. Be “closer to the table”
5. Leverage/reduce your less value tasks
6. Remember 50% (or more) of firm growth is coming from consulting services
75
![Page 76: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/76.jpg)
Billable Practice Facts
1. Approximately 20% of COO, Firm Administrators, HR/Marketing Directors have a billable “practice”
2. Billings are usually between $50-100K/year – “solo model”
3. Services are aligned with past experience and capabilities (and client needs)
76
![Page 77: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/77.jpg)
Can you Provide any of these Services?
77
![Page 78: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/78.jpg)
> Audit? Tax? What else????
78
![Page 79: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/79.jpg)
How to get Started?
1. Have a discussion with your MP2. Start “off-broadway” & work out the
kinks first!3. Make partners aware of your
capabilities/interest4. Target clients with high-potential first
79
![Page 80: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/80.jpg)
Billable Practices: BEST IDEAS [Discussion]
Do you run a practice and have you considered starting one?
80
![Page 81: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/81.jpg)
Summary
1. AICPA/PCPS top issues 20152. Contributions via marketing:
Marketing culture - is marketing everybody’s responsibility at your firm?
3. Contributions via retention People development programs
4. Contributions via recruiting Enhancing your recruiting model
5. Contributions via direct revenue Building a practice to drive revenue
8181
![Page 82: How Can You Best Contribute to your Firm’s Top Line Goals? Presented by: Art Kuesel 2015 Leading Partner Retreat &Firm Administrators Roundtable CPAmerica](https://reader036.vdocuments.us/reader036/viewer/2022062500/5697bf781a28abf838c82114/html5/thumbnails/82.jpg)
Find Resources: kueselconsulting.com/CPAMOCT15