CPA Study for Mentoring of CPAs

Transcription

1 CPA Study for Mentoring of CPAs Written by Rex Gatto, Ph.D. Fax Website 1

2 No part of this study may be used or reproduced in any manner whatsoever including electronic, mechanical, photocopying, recording, or by any information storage and retrieval system, without prior written permission except in the case of brief quotations embodied in critical articles or reviews. For information, contact Gatto Associates, LLC 750 Washington Road Suite 14 Pittsburgh, Pennsylvania or Fax

3 Over the past ten years, we at Gatto Associates, LLC have been involved with the Leadership Development Programs for many CPA firms. As part of this program, we have collected a great deal of information analyzing the participants through various skills and assessments, including the 360º Interpersonal Working Association Inventory (IWAI), Communication, Presentation, and Mentoring. Managing partners have asked us for information on everyone who attended our Leadership Programs and completed the 360º Interpersonal Working Associations Inventory (IWAI). To date, over 500 participants have attended our programs. Each of the participants also had 4 to 5 associates fill out the Working Associates section of the 360º IWAI. From the responses of the over 500 participants and their associates, we conducted a study that generated some exceptionally interesting results. The initial motive was to see if a difference between the high performers and low performers in the CPA industry could be statistically determined. Then, we looked at the overall results that indicated performance in order to better understand exactly which behaviors indicated success. We did this because we wanted to know the skills high performers exhibit when mentoring CPA s to acquire and demonstrate those skills. 3

4 The four categories of the IWAI assessment used were Communication, Team Building, Time and Productivity, and Work-Related Skills. The results indicated that, overall, there was a small difference in the areas of Time and Productivity and Work-Related skills, both of which are work related skills, and a great difference in Communication and Team Building, which are people oriented skills. The following is a summary of the results. DIFFERENCES Below we have identified those performance actions that are in common or differ between high and low performers. Low gaps equal similarity in the level of performance. High gaps indicate specific performance differences that the poor performers are NOT doing well in comparison with high performers. The results clearly indicate that there are a number of great differences in people-oriented skills, and only a few differences in work-oriented skills. Each of the following questions from the 360º IWAI was answered on a five-point scale by the participants and by at least three associates about the participants, and the answers were then averaged. The questions with the highest gaps and those with the lowest gaps are listed. A high gap equals a difference of at least one full point between the high performers and the low performers. To put this in perspective, a one-point difference would be the difference between a rating of 5 to 4, or 4 to 3, and a percentage difference of 100% to 80% or 80% to 60%. 4

5 COMMUNICATION Low Gaps (little difference between high and low performance) Do you speak respectfully with associates? High Gaps (major difference between high and low performers) Do you clearly communicate and follow through with work related priorities? Do you clearly present details to associates? Do you communicate persuasively with associates? Do you respond non-defensively when communicating with associates? Do you openly discuss ideas with associates before making a decision? Do you effectively communicate information to associates on an equal basis? 5

6 TEAM BUILDING Low Gaps (little difference between high and low performers) (NONE) High Gaps (major difference between high and low performers) Do you promote a team-working atmosphere? Do you encourage associates to express their opinions? Do you make associates feel involved while working with them? Do you appropriately resolve conflict with associates? Do you have an effective working rapport with associates? Do you have the respect of associates? Do you create an anxiety filled atmosphere while working with associates? 6

7 TIME and PRODUCTIVITY Low Gaps (little difference between high and low performers) Do you demonstrate commitment to achieve business goals/objectives in a timely fashion? Do you address questions within a reasonable time frame? Do you follow through on work assignments? High Gaps (major difference between high and low performers) Do you make timely business decisions? Do you follow through with work assignments to meet deadlines? WORK RELATED SKILLS Low Gaps (little difference between high and low performers) Do you demonstrate work-related competence? High Gaps (major difference between high and low performers) Do you demonstrate flexibility in meeting changing business priorities? Do you support and help associates? 7

8 DEVELOPING THE SKILLS FOR SUCCESS The results from the comparison between the high and low performers indicate that workoriented skills have the highest similarity in scores; in other words, the smallest gap. The greatest gap differences show up in people oriented skills. Managing Partners wishing to enhance a firm s productivity and efficiency may want to have Senior Managers and Partners develop communication and team building skills. In particular, the development of these skills would be indicators of the higher-level performance. As a result of this study, we encourage the reader to share the information with firm leaders to create benchmark for development. Use the high gap areas as developmental behaviors or characteristics with supervisors and managers as they transition their careers toward success and growth. This information can be valuable in creating a succession plan for the firm by comparing your people with the high level behavioral actions under each of the four key areas of: communication, team building, time and productivity and work-related skills. The Mentoring Process for CPA s book was written to help people assess themselves and create a developmental plan to better work with clients and people in the office by developing work-related and people-oriented skills. 8

9 In the revised mentoring book, there are four sections: an overview of the mentoring process, mentor skills and assessments, preparation and tools for mentoring and lastly, succession planning and tools for firm development. The tools show the how to with work papers for mentoring meetings and the mentoring development process. The book gives an overview to help everyone from managing partners to staff on what and how to develop needed skills for success. SUMMARY Success is based on the ability to utilize your own skills and the skills of each person in the firm to meet daily client needs and challenges. From our study, it appears that the work-related skills are the reasons a person is hired, given a desk and chair, and allowed to join a firm: in other words, most CPAs possess highly developed accounting and analytical skills. The major differential lies in the people-oriented skills. Those CPA s with highly developed peopleoriented skills are the ones considered by themselves, their bosses, peers, and subordinates to be successful. When people are involved in the firm and successful, they are less likely to leave, which results in a win/win proposition for all. If you have follow-up questions, please call Gatto Associates, LLC at