The importance of finding the right leader to drive change management in traditional firms

Driving big change management can often be challenging, especially for older, traditional firms. You’re trying to turn a big ship—and that takes time. The key is to have the right person to captain the ship and bring everyone along for the journey.

Its success hinges on the quality of leadership within the firm. Effective leaders can inspire, guide, and support their teams through the complexities of change management.

So, what are the leadership qualities needed for navigating change? And what strategies can you implement to ensure smooth sailing?

Tim Causbrook is the COO at Causbrook & Associates and a mentor at Wize Mentoring. His years of experience in guiding traditional firms through big change has helped him cultivate a series of approaches you can use at your firm. Here are some insights from Tim.

Finding the right leadership style to support change management

Whoever is currently in the position of leadership in an accounting firm greatly influences its trajectory. Team members often mirror the traits and attributes of their leaders.

For example, if a founder is a ‘finder’—one who is focused on growth and innovation—the firm may experience rapid expansion but also a high turnover and inconsistent revenue.

On the other hand, if they were a ‘minder’—a leader focused on control and stability—they might manage a steady but stagnant firm. While stability is good, growth is necessary to create opportunities for staff and ensure the firm’s long-term viability.

You have to have the right people in the right seats on the right bus going in the right direction.

Tim Causbrook, COO, Causbrook & Associates

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During times of transition, your firm needs a leader who can strike the right balance between growth and stability to navigate change effectively. A leader focused solely on growth might push too aggressively, overwhelming the team and causing instability.

On the other hand, a leader who clings to stability may resist necessary changes, causing the firm to miss opportunities and stagnate.

The right leader is a blend of both, driving innovation and progress while maintaining a solid foundation. By balancing these elements, your firm can adapt to change more smoothly, support your employees through transitions, and position your business for sustainable long-term success.

How the right leader can effectively guide change

1. Lead with a clear vision of the firm’s future

A strong leader should have a clear vision of the firm’s future. This future should align with the firm’s goals and should be communicated effectively to all team members. This is essentially the firm’s North Star. 

2. Enforce and exemplify strong and effective communication

Visibility is key during times of change. Leaders must be able to articulate three key factors in relation to the change so that everyone in the firm understands how their roles contribute to the success of this transformation:

1. The reason/s for it

2. The benefits it will bring

3. The steps involved in the process

3. Confidently empower team members

One of the keys to managing multiple teams or a multimillion dollar practice is to have accountability at the team level. 

Allowing employees to take ownership of their roles and decisions is crucial. If a firm has Client Managers (client-facing leaders) and Production Managers (staff-facing leaders) who each have their teams, give them the autonomy and support they need to drive better performance. 

A good leader must be confident in allowing their teams to take initiative.

The power of a leader with an ‘ownership mindset’

There comes a time when a traditional firm’s owner moves away from being involved and starts appointing other managers to drive the business. 

For a firm to thrive during a period of significant change like this, they must be guided by leaders who’ve adopted an ownership mindset. This means thinking and acting like owners, regardless of their tenure or equity in the firm.

When leaders and managers view the firm’s success as their own, they’re more likely to invest in its long-term health and performance.

A story of effective change management

During a webinar about managing big change in traditional firms, Tim shared his own experience taking over a traditional firm that faced significant challenges as it grew, including overburdened staff and inefficiencies. 

Tim explains, “We had a bunch of accountants working on the clients of the firm, but no one was really working on the firm.”

By focusing on working on the firm rather than in it, the leaders at Causbrooks & Associates began to implement changes.

And by stepping back so he could see the bigger picture, Tim was able to help navigate the transition from a wide and shallow team structure to a deep and narrow one. 

This restructuring allowed for better workload distribution, improved client and staff management, and ultimately, enhanced productivity and profitability. 

The firm’s leaders played a crucial role in guiding their team through the change, demonstrating the importance of strong leadership in successful practice improvement.

Charting a clear course for change

Change doesn’t have to feel like uncharted waters when you have the right leadership at the helm. Take a moment to assess your leadership style and its impact on your team. Are you the right person to navigate the complexities of change? Reflecting on this now will help your firm prepare when the time comes.