Turning around disappointment with growth in profits.
Introduction:
A 20 partner regional firm had experienced three years without growth in profits and while the firm was performing satisfactorily compared with other firms in the area, there was disappointment that the results were not better.
A 20 partner regional firm had experienced three years without growth in profits and while the firm was performing satisfactorily compared with other firms in the area, there was disappointment that the results were not better.
What we did:
At the annual partners’ weekend input was provided on profitability to more effectively benchmark the performance of the firm to achieve buy in across the firm as to which were the easiest ways for the firm to improve results. In smaller groups the partners then discussed possible strategies for dealing with the identified issues before a group discussion agreed on the main courses of action.
At the annual partners’ weekend input was provided on profitability to more effectively benchmark the performance of the firm to achieve buy in across the firm as to which were the easiest ways for the firm to improve results. In smaller groups the partners then discussed possible strategies for dealing with the identified issues before a group discussion agreed on the main courses of action.
Tangible result:
The main issue that arose was that there was too much management information made available to the partners and it was agreed that less would be distributed but which was more likely to lead to a change in behaviour of the partners.
The main issue that arose was that there was too much management information made available to the partners and it was agreed that less would be distributed but which was more likely to lead to a change in behaviour of the partners.
