Partner Partner Self-Evaluations Self-Evaluations

Assessing Your Talents Assessing Your Talents

Gatto Associates, LLCGatto Associates, LLC

750 Washington Road750 Washington Road

Pittsburgh PA 15228Pittsburgh PA 15228

412-344-2277412-344-2277

Rex Gatto, Ph.D.Rex Gatto, Ph.D.

www.regatto.comwww.regatto.com

Evaluate TalentEvaluate Talent

Strengths and TalentsStrengths and Talents

EvaluationEvaluation

Behavior PatternsBehavior Patterns

Implementing this process for partners is most effective in establishing the behavior patterns needed to sustain your firm now and in the future

SMART GoalsSMART Goals

A way of evaluating the objectives or goals for an individual project/engagements.

The term is also in common usage in performance management, whereby goals and targets set for partners/staff must fulfill the criteria.

SMART GoalsSMART Goals

letters Definition

Specific Significant, stretch, meaningful, BHAGS

Measurable Motivational, manageable

Attainable Actionable, aligned, achievable

Relevant Realistic, results oriented, rewarding

Time-bound Timed, timely, time-limited

Introspection Introspection (Action Planner)(Action Planner)

Be SMART:

Specific,

Measurable,

Action oriented,

Realistic and

Time bound

Assessment ProcessAssessment Process

A process, A process, involving staff and involving staff and firm leaders that firm leaders that supports individual supports individual growth, which leads growth, which leads to firm growth.to firm growth.

growthgrowth

We define the metrics for We define the metrics for performance factors that performance factors that create consistency create consistency through a common through a common descriptive performance descriptive performance languagelanguage

We can measure firm, We can measure firm, departmental/niche, and departmental/niche, and individual performanceindividual performance

Partner, managers, and staff, Partner, managers, and staff, through an assessment process:through an assessment process:

DevelopmentDevelopment

Common LanguageCommon Language•Create a common language for development by identifying the level of functional performance

•Identify the right actions and enhancement areas •Create firm consistency through a process that supports development.

Feedback = GrowthFeedback = Growth

A process involving staff and firm leaders that supports individual growth, which leads to firm growth.

types of Assessementstypes of Assessements

• Anatomy of a CPAAnatomy of a CPA

• Partner/Manager Partner/Manager 360˚ Assessment360˚ Assessment

• Leadership Profile Leadership Profile AssessmentAssessment

FeedbackFeedback

CPA SkillsCPA Skills

Skills FactorsSkills Factors

People Issues

Work related Issues

Teamwork

Leadership

Partner Goals /Objectives

Client Relationship

The combination of the above skills/competencies can highlight ability.

Partner/Manager 360˚ Partner/Manager 360˚ AssessmentAssessment

Partner/Manager 360˚ Partner/Manager 360˚ AssessmentAssessment

Narrative responseNarrative response

Partner/Manager 360˚ Partner/Manager 360˚ AssessmentAssessment

Partner/Manager 360˚ Partner/Manager 360˚ AssessmentAssessment

Partner/Manager 360˚ Partner/Manager 360˚ AssessmentAssessment

Partner/Manager 360˚ Partner/Manager 360˚ AssessmentAssessment

SMART GoalsSMART Goals

letters Definition

Specific Significant, stretch, meaningful, BHAGS

Measurable Motivational, manageable

Attainable Actionable, aligned, achievable

Relevant Realistic, results oriented, rewarding

Time-bound Timed, timely, time-limited

Partner/Manager 360˚ Partner/Manager 360˚ AssessmentAssessment

Partner/Manager 360˚ Partner/Manager 360˚ AssessmentAssessment

Summary Summary

NarrativeNarrative

Partner/Manager 360˚ Partner/Manager 360˚ AssessmentAssessment

Partner/Manager 360˚ Partner/Manager 360˚ AssessmentAssessment

CPACPAss Do the following Do the following

• Provide the advice and information to people Provide the advice and information to people that is needed to make important financial that is needed to make important financial decisionsdecisions

• Help their clients make sound financial Help their clients make sound financial judgments by analyzing and interpreting datajudgments by analyzing and interpreting data

• Examine “what if” possibilitiesExamine “what if” possibilities

• Explain complex laws (local, state, and Explain complex laws (local, state, and federal), rules, and regulations federal), rules, and regulations

• Help clients plan, save, and invest moneyHelp clients plan, save, and invest money

Picture of a Successful CPA Picture of a Successful CPA

• Academic, business and practical knowledgeAcademic, business and practical knowledge

• Ability to communicate and connect with Ability to communicate and connect with (people) clients, partners and staff(people) clients, partners and staff

• Organize, write, analyze, compare, and Organize, write, analyze, compare, and interpret facts and figuresinterpret facts and figures

• Understand computers and accounting Understand computers and accounting software software

• People skills, ability to build relationshipsPeople skills, ability to build relationships

• Integrity, trusted advisor Integrity, trusted advisor

questionsquestions

Results from assessmentsResults from assessmentsN= 500+ (CPA & Ca)N= 500+ (CPA & Ca)

Qualities of High Performers:Qualities of High Performers:

• Clearly communicate-follow through with Clearly communicate-follow through with work related prioritieswork related priorities

• Have the ability to Have the ability to InfluenceInfluence others others

• Clearly present detailsClearly present details

• Generally non-defensiveGenerally non-defensive

• Openly discuss issues and then makes a Openly discuss issues and then makes a decisiondecision

• Communicate on an equal basisCommunicate on an equal basis

Results from assessments #2Results from assessments #2

Qualities of High Performers:Qualities of High Performers:

• Involve staffInvolve staff

• Resolve conflictResolve conflict

• Promote a team building atmospherePromote a team building atmosphere

• Encourage staff to express ideasEncourage staff to express ideas

• Build rapport with staffBuild rapport with staff

• Consider associates’ opinions and Consider associates’ opinions and suggestions with an open mindsuggestions with an open mind

Results from assessments #3Results from assessments #3

Qualities of High Performers:Qualities of High Performers:

• Are flexible in meeting changing business Are flexible in meeting changing business prioritiespriorities

• Supports and helps staffSupports and helps staff

• Makes timely business decisionsMakes timely business decisions

• InnovativeInnovative

• Meets work related deadlinesMeets work related deadlines

Action PlanAction Plan

• What will you now What will you now do differently?do differently?

• What actions can What actions can you maintain or you maintain or enhance?enhance?

• What actions can What actions can you change?you change?

RewardsRewards

What is rewarded and recognized,

people will move toward and become!

Firm ChallengesFirm Challenges

Succession planning creating a deep bench

Making sure the leadership team does not lose sight of the north star, your guiding philosophy

Getting the vision, mission, strategies, and objective aligned through feedback

Ensuring that leaders walk the talk

Firm Challenges #2Firm Challenges #2

SummarySummary

Challenge your people to become

the BEST they can.