“Integrity Is Our Strength”“Integrity Is Our Strength”

Bjorn Lindgren Bjorn Lindgren BFL AssociatesBFL Associates

Michael P. EmmertMichael P. EmmertMesirow FinancialMesirow Financial

We will cover…We will cover…

AICPA Core Competency Models for FLS Practitioners

Recruitment and Compensation

Successful Integration of Lateral Hires

Performance Evaluations

INTEGRITY is the consistentbehavioral demonstration of truth.

INTEGRITY is a core value necessary to build and manage a successful practice.

INTEGRITY is the consistentbehavioral demonstration of truth.

INTEGRITY is a core value necessary to build and manage a successful practice.

Defining INTEGRITY in aProfessional Services

Environment

Defining INTEGRITY in aProfessional Services

Environment

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TRUTH builds and sustains TRUST,

which is essential for a good,valued working relationship.

TRUTH builds and sustains TRUST,

which is essential for a good,valued working relationship.

How doyou build TRUST?

How doyou build TRUST?

Youdemonstrat

eTRUTH.

Youdemonstrat

eTRUTH.

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2003

2003

2004

2004

2005

2005

2006

2006

Dramatic ChangeDramatic Change

20012001

20022002

Job Job Satisfaction Satisfaction Increases Increases

Among Audit Among Audit CPAsCPAs

New New Competency Competency

Models Attract Models Attract CPAsCPAs

150-Hour Rule 150-Hour Rule Gains Gains

AcceptanceAcceptance

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CompensationCompensation

DEMANDDEMAND SUPPLYSUPPLY

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Factors Affecting RetentionFactors Affecting Retention

EmployeeEducation

Work Relationships

InterestingJob Assignments

FamilyDynamics

Benefits

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Factors Affecting RetentionFactors Affecting Retention

Empowered Employees

Flexible Schedules

Mentoring/ Counseling

Expectations

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Internal

Advertising

RecruitmentRecruitment

Family andFriends

RecruitmentFirms

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AICPA Competenciesfor FLS PractitionersAICPA Competenciesfor FLS Practitioners

ThoroughnessThoroughness PeoplePeopleSkillsSkills

BusinessBusinessDevelopmentDevelopment

DecisionDecisionMakingMaking

CreativityCreativityCommunicatioCommunicatio

nnSkillsSkills

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Aligning Human Capital Enhancement Model

Aligning Human Capital Enhancement Model

TrainingTrainingPerformance Performance MeasurementMeasurement

RecruitingRecruiting

StaffingStaffing

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Setting Practice StrategySetting Practice Strategy

Fee SensitivityFee Sensitivity

LOWLOW

HIGHHIGH

Target ClientsTarget Clients

LOWLOW

HIGHHIGH

Leverage &Leverage &ProfitabilityProfitability

Small FirmsLarge/Boutique

FirmsMedium Firms

Required Experience Required Experience LevelLevel

MINIMAMINIMALL GURUGURU

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Successfully Attracting, Integrating, and Retaining

Lateral Hires

Successfully Attracting, Integrating, and Retaining

Lateral Hires

ConfidentialityConfidentiality

ExpectationsExpectations

CompensationCompensation

Time toTime toProductivityProductivity

Role DefinitionRole Definition

MentoringMentoring(or Counseling?)(or Counseling?)

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Staffing PrincipleStaffing Principle

PersonaPersonall

MarketMarketValue Value andand

PersonaPersonall

WealthWealth

Doing/Doing/DedicatioDedicatio

nn

Seeing/ Seeing/ ExperiencExperienc

eeHearing/LearningHearing/Learning

In-Depth Knowledge

Multi-Disciplinary

Teams (Staffing)

KnowledgeTools and Databases

BestPractices

In-Depth Knowledge

Multi-Disciplinary

Teams (Staffing)

KnowledgeTools and Databases

BestPractices

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TimeTime

Pro

du

cti

vit

Pro

du

cti

vit

yy

Denial Commitment

Resistance Exploration

Denial Commitment

Resistance Exploration

Performance Measurement:Understanding the Individual Process of

Change

Performance Measurement:Understanding the Individual Process of

Change

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“Integrity Is Our Strength”“Integrity Is Our Strength”