CPAs like to get together to compare notes and try to solve the world’s problems. At one of these meetings, a fine group of partners were discussing their teams, especially in light of the recession.
When the discussion turned to the current economy the general consensus was that this was an appropriate time to reduce overhead by firing marginal team members – thinning the herd. I have two very significant problems with this concept.
First and most importantly. Your team is not a ‘herd’. I realize this was probably not the literal sentiment of the speakers, but words are important. And they influence how you interact with your team. If you think of those you work with as an amorphous mass, as opposed to individuals you’re missing incredible opportunities to develop the expertise and effectiveness of your firm.
Second, if you have weak team members who should be fired why are you waiting for an excuse, e.g. a weak economy? If they need to be fired, they need to be fired. Please name for me one advantage of keeping a weak team member around. Great firms have great people – people who perceive themself as great. If you keep a ‘weak link’ around it effects the professional self opinion of every other member of your firm, indirectly. Directly it effects your firm by the perception projected to your clients and the community.
That’s not to say you throw away a member of your team without making every effort to help them. That’s expensive and in my opinion immoral. But if they are in the wrong profession or wrong situation, what benefit is there to keeping them around. None to them, and certainly none to your firm
