By Gary Wallace, MP, Keiter and Pamela Bradley, Talent Advisor, Keiter
As accounting professionals, we are always seeking new and innovative ways to better serve our clients. Over the past decade, accounting firms have developed a variety of new service offerings around artificial intelligence, information security, data forensics and others to assist clients with their most pressing tax, audit and advisory needs. While much of the focus in the accounting industry has been external, firms have recognized the importance of our people and resources needed to focus more on internal challenges – especially when it comes to helping develop the next generation of accounting firm talent and leadership.
Talent development is not a new concept in the accounting world. Most firms have instituted robust training programs for employees. One track is focused on technical skills, while the second track is focused more on personal development skills such as giving feedback, managing employees and business development. This second track has typically been delivered using traditional methods like instructor-led classes, online learning or group discussions. However, we found that many participants in these training programs tend to face challenges in practicing the new skills they learned.
Consistent Coaching Reinforces Concepts
That is why coaching can be such a valuable approach. Coaching disrupts the “train and move on” cycle by working individually with learners to help them figure out how to apply new skills within the course of their work. That is why at Keiter, we developed a customized solution called the Talent Advisor program. We initially established this program to focus on our developing Senior Associates at our firm with our Talent Advisor. The Talent Advisor is a credentialed professional whose sole job is focused on this group. Although we have retained client service staff to function as the coach, the Talent Advisor supplements the coach and sets forth prepared topics that include working with the Senior Associate, as well as assistance with their coach. These are accomplished through regularly scheduled meetings although the Talent Advisor is also available for anything else the Senior Associate or coach would like to discuss. The consistency and frequency of these meetings is essential to ensuring that the concepts and solutions discussed are reinforced. Additionally, monthly meetings help to bring about a greater level of trust between the Senior Associate and the Talent Advisor – like a traditional coaching program.
Setting Goals
During the first stage of the journey, the Talent Advisor and Senior Associate work together to create compelling goals based on their career goals over the next one to three years. The Senior Associate then outlines the following components for each goal: (1) goal title; (2) intended outcome(s) or impact(s) of the goal; (3) actions needed to achieve the goal; and (4) success markers. By providing a detailed plan for each goal, there is a greater sense of accountability. These goals are shared with the Senior Associate’s direct manager so that they can also be included in the accountability process.
As part of their monthly meeting, the Talent Advisor and Senior Associate discuss each goal in-depth to establish where/if there has been improvement and what actions need to be taken to accomplish those goals. The key part of this goal setting exercise is to push the Senior Associate to clearly identify what he/she wants for themselves. That ownership is a strong motivator and the Talent Advisor guides them how to use tools such as strengths, time management, and values identification to accomplish those goals.
Ownership and Accountability
We all understand that achieving our goals can take time. In fact, some may take years to accomplish. One of the most important parts of the dynamic between the Talent Advisor and Senior Associate is accountability to achieve goals but achieving those goals within a realistic and reasonable timeframe. For example, if a Senior Associate has a business development goal, we recognize that during a busy season it is unrealistic to expect a Senior Associate to fully implement a strategy when he/she is working on client deliverables. Therefore, it is important to use the time during the busy season to take ownership and examine ways in which the Senior Associate can work on their business development goals outside of the busy season. That might include practicing small talk or identifying targets within a set industry.
Another key component of the program is helping Senior Associates understand the process for which their performance is based. Over the years, we have found that many of them don’t understand this process so that Talent Advisor program allows us to codify specific metrics to performance reviews. Specifically, the goals outlined by the Senior Associate and shared with their direct manager are part of the performance review process. This holds the Senior Associate accountable for his/her progress on those goals.
Measuring Success
As a multi-year program, the relationship between the Talent Advisor and the Senior Associate is focused on the measurement of success. The built-in accountability of the program ensures that the Senior Associate is meeting his/her goals based on performance metrics and specific accomplishments. Some goals are long term while others might be obtainable after a year. We can measure whether a goal is achieved based on the annual performance review of the Senior Associate. For example, if one of the outlined goals is to improve communication with those they manage, that is something that can be measured based on written feedback and surveys. If the Talent Advisor, Senior Associate and Senior Associate’s coach feel that goal has been met, it is replaced with a new goal in the next year.
Some other goals may take years to achieve. The skill of business development is one that every accounting practitioner is constantly developing. As a Senior Associate builds relationships with prospective clients, they are more likely to win over that business. That takes time though, so we adjust the measurement of success accordingly.
There is no such thing as a one-size-fits-all approach to coaching. Each person must craft the strategies that best fit them. That’s where a personalized, in-depth Talent Advisor relationship is best suited for today’s developing professionals.
