Manage your people
Professional services firms that manage their people will reap clear benefits. PA’s experience shows that these organizations can attract and retain premium quality staff, deliver higher value generation per employee, and build a strong, cohesive core culture.
All these benefits combine to create competitive advantage in the marketplace – leading directly to improved client service, a rising reputation and increasing profitability.
The first principle of good people management is to let them know what their firm wants from them, and reward them for delivering it. Employees need measurable objectives that are achievable at a personal level – such as maintaining and improving profitability, building closer client relationships and managing costs down. They need to have a broad view of their part in the firm’s overall success. And they need to feel recognized and rewarded when they play that part especially well.
The most successful professional services firms typically possess:
- Principles and processes which align individuals’ personal objectives with those of the organization, and reward them according to their own performance and that of the firm as a whole
- A culture that values quality and client focus, underpinned by a reward structure aligned with these values. This ensures that staff – including support staff – value and are motivated by client service
- An HR function which plays a central and active role in the firm’s strategy formation and planning, which can demonstrate clearly how its activities are adding value to the bottom line.
|
