Succession planning strategies to attract partners at professional services firms

Abstract

As the struggle to attract, engage and develop talent in knowledge intensive firms increases, this paper sought to uncover succession-planning strategies professional services firms may employ to attract Chartered Accountants to partnership. Designed as an organizational action research study, this investigation elicited the perspectives of Chartered Accountants using a survey and interviews. Chartered Accountants at all stages of their career development at Collins Barrow Calgary LLP were targeted, including newly designated professionals, Managers, Senior Managers and Partners. The study found that although the role of partner is unclear to research participants, autonomy, compensation and an established firm infrastructure are enticing. Study recommendations included the creation of a compelling vision to educate and engage prospective partners, communicating attractants and barriers to advancement to partner and enhancing existing partnership talent development programs. This organizational action research project was designed in full compliance with Royal Roads University's (RRU) (2007) Research Ethics Policy.