Professional Services Firms Get An Edge

Many professional services firms struggle with creating accountability and consistency when it comes to talent management practices. One of the biggest reasons for this struggle is the very nature of work being executed within these firms. Accounting, engineering, marketing/PR, legal and other types of firms employ highly skilled professionals, and their bottom line is dependent upon the combined intellectual capital of these individuals. This makes employee engagement a top priority, which itself often is at odds with the culture of these firms, where billable work is the priority.

When employees and managers are focused on revenue generating activities, talent management has to be simple for them to execute on a day-to-day basis, not burdensome. Texas-based CPA firm, Pannell Kerr Forster (PKF Texas) has been able to create a new approach to talent management that drives accountability and consistency, while supporting the retention of valued staff through stronger employee engagement practices.

PKF Texas faced a number of challenges that are common within most professional services firms, including a complex reporting structure, and a history of inconsistency in appraisal processes. The firm was using a paper-based system for their yearly and engagement appraisals. As Angelica Aguiluz, HR Coordinator with PKF Texas explains, “Our old employee evaluation process was labor intensive, time consuming, and difficult to track, not to mention frustrating.”

After rolling out Halogen’s talent management solution, the PKF Texas team began to recognize real ROI for the firm and its team members. The firm has been able to bring consistency and reliability to employee performance management across all departments, effectively manage its complex reporting structure and successfully incorporate engagement appraisals into the process.

The new approach to talent management has also provided PKF Texas with an additional edge for recruiting and retaining top talent by improving employee engagement. Additionally, the firm’s talent management practices have become a selling feature with new hires and interns who specifically ask about the kind of feedback they will be given.

PKF is a great example of how professional services firms who change their talent management process can develop a clear method of measuring employee performance and a clear path for development. The end result is more engaged employees, and a stronger bottom line.