Earlier this month, marketing coaching and consulting firm ConvergenceCoaching released the final findings from their 2015 Anytime, Anywhere Work Survey results. The Work Survey sought to collect information about "the adoption of flexible work initiatives within public accounting firms."
Convergence's latest findings asked firms what measures are being used to "gauge success [with staff] and how those play into a firm’s anytime, anywhere work culture."
Convergence previously found that 42% of the 155 firms surveyed have implemented measures on something other than time and another 17% are considering doing so. This is up from the 39% who were using non-time based measures and the 13% who were thinking about it in 2014.
For those firms who implemented non-time-based measures, firms measured performance measurement thusly: metrics (38%); competency model (25%); evaluations (10%); written goals (6%); and core values-based goals (2%).
"We have changed our performance focus from hours to revenue commitment," one anonymous respondent commented. "The idea is that we need a revenue commitment from our…staff, but the hours needed to create that revenue are not as important and allow for flexibility.”
“We are looking at core competencies and key behaviors," another source commented. "We are increasingly focused on results/outcome and individual growth as opposed to the traditional concept of how many chargeable hours does one have. Of course we still struggle with baby boomer partners who insist value is based on hours in, only.”
ConvergenceCoaching offers the following tips to help move away from a primarily time-based workplace:
- Develop written, specific measureable goals for each person on your team focused on the things you most need them to accomplish in the coming year. Ideally, measure no more than 3 to 5 elements per person.
- If you still plan to use a charge-hour goal to measure success, combine it with a realization goal so that you are at least incenting your team members to only enter quality chargeable hours that can be billed and collected and to deliver work efficiently.
- Measure revenue produced (billed and collected) or managed (for mid-range and upper-level leaders) instead of hours billed.
- Measure practice building, future-capacity activities and results including people mentored and developed, new business developed, expanded business sold to existing clients, participation in leadership roles and more.
For the full survey results, head to ConvergenceCoaching's site here.