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by Rob Nixon
4. Do they know how to do it?
One of the biggest assets an accounting firm has, that is not on the balance sheet, is that of ‘knowledge’ – the know-how of the firm. At the end of the day that’s what an accounting firm sells – knowledge.
We all know we need to train people so that they have more knowledge to do their job better. However what happens each day to the knowledge that you have invested in? It walks out the door – and sometimes it doesn’t come back!
Training is important to teach people how to do things. You should have a % of your revenue dedicated to external training programs…quality training programs like my ones!
However, what is even more important are the documented step by step systems that someone would follow after (or before) the training takes place. I am talking about each team member knowing how to do everything. I am talking about having an intranet with step by step documented on-line procedures linking to various tools so that a team member can ‘self train’ on your systems.
Remember – just because they have worked for another accounting firm doesn’t mean they know how to do it at your place.
5. Do you have the right environment?
The war for talent will continue so you need to do different things to attract and retain people. You may need to focus on a different working environment. The environment relates to your facility, the equipment in it and the way you work with your team. So that would include office, furniture, IT equipment and various ‘team’ programs.
In the live workshops I present I have the team nominate what they want to do to improve the environment. Here is a merged list from a number of teams that I know has been successfully implemented!
* Celebrate wins – have a ships bell in the office and ring it every time something significant happens – like a big sale!
* Cable TV with a data projector and a big screen
* Personal trainer or yoga classes every week – a fit team is a productive team
* Lunch each day – why not!
* Fridge full of food – including breakfast
* Team building afternoons / days / weekends – get some outside professional help or go somewhere organised * Flexible hours – you are paying rent 24/7 – use it
* Laptops for all – that way they are not tied to their desk
* Two screens on every desk – you’d be amazed how efficient it is
* Faster equipment – upgrade, upgrade, upgrade
* Plants, colourful walls, view – make it an enjoyable place to be at
* Quality chairs – remember the team are sitting for 8 hours per day
* Open bar – Friday night drinks maybe – if you can…be sensible!
* Fruit on Monday’s, lollies (candy) on Friday’s
* Exciting work
* Education support – pay for training
* Take them for lunch for no reason
* Chill out room – games, bean bags, couch etc
* Quality coffee machine – speaks for itself
* Career path – where to from here?
* Pay above market rates – maybe + 20%
* Pre-emptive pay increases – offer it before you are asked
* Bonus program – have one that works and gets the team involved
* Show them the numbers – get them involved – maybe all of the KPI’s + revenue and maybe profit – the more they know the more they will perform – especially if it is ties to a performance bonus
These things are not major expenditure items. To enforce fun some firms have a ‘social club’ where each person pays a token amount each week taken out of their salary. Don’t skimp on these things – why should the team pay for their own fun? Get rid of the social club and have a ‘team happiness’ amount each month allocated in your budget and then put someone in charge of team happiness.
So there you go.. Five simple steps to creating a high performing championship team.
I was in a seminar listening to Stormin’ Norman Schwarzkopf once and I only heard one thing - when in command take charge!
You are in command of your business, your people and your own circumstances. Maybe it’s time to take charge and build a championship team and an even better business.
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