Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/76159
BRIDGING THE GAP The Next Generation of Leadership W Jim Boomer, CPA.CITP Jim Boomer is a shareholder and the CIO for Boomer Consulting, Inc. He is the director of the Boomer Technology Circles™ and an expert on managing technology within an ac- counting firm. He also serves as a strategic planning and technology consultant and firm adviser in the areas of performance and risk management. In addition, Jim is leading a new program, The Producer Circle, in collaboration with CPA2BIZ and the AICPA. e are headed toward a massive transition in leadership at firms across the country as the current leadership gets closer to retirement. Some firms have already successfully transitioned, others are preparing, and then, there are those that don't yet have any plans in place. The transition discussion is a buzz at the conferences I've recently attended – both among attendees and speakers. And, tensions are high between the very generations whose roles are about to shift, which is extremely concerning. The State of the State Current leadership oſten complains they can't find quality candidates to fill the pipeline. Pointing to a generation that doesn't want to put in the hours or work for it. Tey use words like lazy and entitled to describe them and say they waste time using technologies like mobile and social media. Te younger generation uses terms like out-of-touch and archaic to describe the people they will succeed. Tey point to a need to do things differently to succeed in the future and some suggest throwing out the old model completely. So who's right? I'll show you here how the correct answer lies somewhere in the middle. Listen Up Emerging Leaders I've been hearing an increasing number of people from my generation (the emerging partner group) spreading a message that the old model is anti- quated and needs to be replaced by completely new thinking. I agree that we need to do things differently but a complete reboot isn't necessary. Emerging leaders need to step back and understand a few things about those that have come before us. r First, they have years of wisdom and profes- sional experience that we can and should tap into if we are smart business people. r We also need to appre- ciate everything they've done to set up the opportunity that is currently ahead. It would not exist if not for the hard work they put in throughout their careers. r We need to realize it's hard to let go of something you've been doing your whole life. We may have to temper our expectations of how quickly we are going to ascend in the firm. r We also need to present our new ideas with respect and ask how they fit in with current leadership's view of the environment. 34 August 2012 t www.CPAPracticeAdvisor.com that listed all the gripes current manage- ment had with the next generation. Only after the audience (made up mostly of seasoned professionals) had finished their wave of head nods in agreement did he reveal that the article was from many years ago and was actually writen about the Baby Boomer generation. Truth be told, you've been in their shoes and, likely, someone judged your perceived intentions (or lack thereof) at some point in your career. So let's look for the positives that r Finally, don't push too hard. Tis is an emotional transition that takes time. Tey need to work through it personally before they can work share the plan or roadmap with anyone else. Tips for Current Leaders Seasoned professionals must think back to earlier in their own careers so they can beter empathize with what the emerging professionals are thinking, feeling and doing. A few years ago, I listened to Bill Reeb speak on genera- tions – he read an article to the audience we can leverage to move forward toward a successful transition. r First and foremost, the up-and- coming leaders bring a fresh perspec- tive that is important to the future of the firm. Tey also bring new ideas and skills to the table as well; espe- cially in the area of technology, l everage these to the firm's advantage. r Open your mind to new ways of thinking and doing things. Consid- ering how these ideas might fit into how you've traditionally done things. r Coach and mentor young profes- sionals but also challenge them. Tis involves stepping back, which can be emotional and difficult to do but is necessary to the transition. Finding a Middle Ground…TOGETHER Although Toreau wasn't referring to the accounting profession when he said "things don't change, we change," I think this quote is a great way to approach the coming of ages. The sooner we stop throwing daggers at each other based on what the other perceives to be wrong and start focusing on the positive aspects we all bring to the table, the quicker we can start blending our perspectives and planning the transi- tion – together. This building tension and divide must stop. It will derail, delay and even destruct the impending and important shift in leadership, and we must all come together now to ensure a suc- cessful transition. Put an action plan in writing that spells out the transition timeline, what/ when activities will be transitioned and how approaches can be melded. Tis will probably require many emerging leaders to 'tap the brakes' and current leaders to 'hit the gas,' but working together you can figure it out.