It's that time of year when everyone starts to wonder about their Christmas bonus. "Will there be one? How much? How much compared to (insert co-worker's name)?" Call it a Christmas bonus, call it a year-end bonus, or call it for what it is, an entitlement. That's right an entitlement. I know I sound a bit "scrooge-like" wanting to take away Tiny Tim's Christmas fun but this seemingly innocent act of handing out money as a reward for unspecified activities sends a dysfunctional message to the team. Unfortunately most business owners have gotten themselves locked into the "forever" bonus that ends up (in the employees mind) being an expected part of their compensation package. Most have got it spent even before it is handed out.
Read more...

Just as you can't stop a client from leaving the firm, I question whether you can keep an employee from "stealing" a client? A blog post from Jason Blumer, chief innovation officer, Blumer & Associates CPAs asks the question, Does your firm really own a client relationship?

Read more...

"If you give it away they won't value it." Really? Isn't that what we've always heard? This admonition gets applied in many areas of our personal and professional life and in some cases it is the truth. However, when it comes to professional relationships, I would like to offer up an alternative admonition, "Focus on the relationship and the fees will follow." Read more...