What does it take to be a leader in your organization? Every accounting firm should be able to answer that question. And, more importantly, the answer should be known to future leaders so they clearly understand what they have to do to advance, especially when senior partners start to retire.
It may seem like a no-brainer, but the 2012 PCPS Succession Survey for multi-owner firms reveals that only 15 percent of firms have a leadership training plan in place. Couple that with the fact that the number one perceived challenge to succession planning is that senior partners lack confidence in those moving up the ranks, and you have a major roadblock to a firm’s health, longevity and ultimate survival.