Do you give your team enough attention
Richard Brewin • February 12, 2020
How many of us really know what we are doing when it comes to building the right team and getting the best out of them?
When you run your own firm, or you are promoted to a more senior position, then the skills that got you there are generally driven by either being a good accountant or being entrepreneurial. For many of us, responsibility for human resources is something that goes with the job, rather than something that we are trained and skilled for.
Good employers and good managers will try their best but it is often a hotch pot of personal experience, network guidance and tips picked up along the way. And, of course, people are not the easiest of subject matter to read up on and apply your ideas and knowledge to. Unlike software, they are all unique. They all react and respond in different ways, follow different pathways and have varied triggers and influences.
Our teams are big investments for our firms and critical to our success. We wouldn’t try and fix our cars or homes if we didn’t know what we were doing so why try so much DIY with our firms’ most valuable assets?
In my experience, the firms that take their team management and development as seriously as any other aspect of the business perform significant better than they did before. Bringing in an HR specialist to advise on all aspects of recruitment, development, compliance and best practice has made a significant difference every time I’ve seen it done. I’m not talking quick fix here but bringing in someone with the intention of them being part of your long term plans.
Generally, for smaller firms, it’s an outsourced role but one that can still have senior management or even board room capabilities. I’ve worked alongside some fantastic external HR advisors who, over a period of time, have made a massive difference to the engagement, retention and performance of the team. The reason?...They are expert in the role!
Plenty of firms use external providers for their HR compliance these days. It makes sense given the levels of risk to the employer. I would urge a much more rounded approach though. Giving both management and the team access to an external HR perspective that understands the culture and vision of the firm drives performance every time.
If I told you that I had a strategy that would increase your profits, boost team performance, reduce employment risk, enhance the value of your business, raise client service levels, improve quality and generally add more happiness to your working day then you’d take the advice wouldn’t you?
If it’s not a strategy you currently employ then I would strongly recommend you build it into your plans.
Look at any accounting firm website and there is a fair chance that the word ‘proactive’ will be prominent. Ask some business owners and taxpayers whether they consider their accountant to be proactive. There is commonly a gap between the two, between the intent of the accountant and the expectations of the client.
The tag ‘Trusted Advisor’ gets bandied around a lot. Without trying to be deliberately contentious, I often challenge its use. Undoubtedly, accountants were once the trusted advisor to their clients. When I came into the profession 44 years ago now, the older partners, especially, were seen by their clients as their trusted advisor, their ‘go to’ person on any issues, business, family or personal, that were troubling them. Without the filing deadlines of today, these clients were with their accountant primarily because they valued the relationship rather than the products.
All accountants are the same! We’ve all heard it said. It’s nonsense, of course, but, when you are asked what it is that your firm does that differentiates it from other accounting firms, it can be a challenge to come up with something tangible. Accounting firms tend to offer similar services, that’s what makes them accounting firms. Differentiating from competitors based upon services provided is therefore an issue.