Public Accounting Report turned to Rick Bennett, co-founder of Bennett Thrasher, for expert advice on how goals, talent, communication and accountability help drive accounting firms’ growth strategies. In the article, Rick highlighted Bennett Thrasher’s focus on staff retention and focus on metrics for accountability. He says, “Staff retention is a metric that we pay very close attention to, as this is our number one challenge impacting future growth. We want to reward those who contribute to this effort, and where there are issues, we want to understand why and how to correct any problems.”
Rick also speaks to the importance of tracking major opportunities via the firm’s pipeline. He says, “Every other Monday morning at a set time, we have a pipeline meeting. All partners are invited, and most attend unless they are traveling or have some other important conflict. At this meeting, we review each target and discuss progress in very specific detail. Our plan is to do what we say we will do. These Monday meetings are a live accountability measure where partners report to each other.”
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