Saturday, December 19, 2009

Evaluations and Rankings in a Big 4…Part I


Note: The post below is based on my personal experience with a big auditing firm. What I am relating may or may not be applicable for other Big 4 auditing firms. Please feel free to leave your comments and any thing you want to add about this topic. I am really interested in hearing from other auditors as not much seems to be written on this topic.

I came upon this article by Francine McKenna on ratings and promotions in the Big 4. Two words caught my attention: “Forced Ranking”.  According to Ms. McKenna, the Big 4 firms have seemingly become advocates of this performance rating where everyone’s performance is compared with everyone else.

Frankly speaking, this was the first time I’ve read about this forced ranking concept (although I understand it has been around for quite some time now. The above article made me remember my years in an auditing firm. I stayed for 8 years in the firm but I never actually realized that there was anything “forced” about our rankings (although, upon reflection, yes it is ‘forced ranking’).

Out of the 8 years I spend in the auditing firm, 5 of those were spent evaluating and ranking my juniors and later on, my seniors. Every time the busy season ends, another season begins – the pre-ranking, pre-promotion, evaluation season. In a nutshell, here’s how this evaluation and ranking goes:

First, we evaluate and rate each of our juniors and even, seniors while our managers and partners also rate us.

This is the time when we fill up a couple of pages worth of checklist plus put in our comments regarding the junior’s or senior’s performance for the last six months (kind of like having a trip down memory lane because you really have to remember the basis for your comments). The evaluation ends when we put in our over-all assessment of the junior or senior.

Second, we discuss the said evaluation with our junior or senior.

Sometimes, if we’re too busy with other jobs (they never really end, even during the ‘slack season’), there’s no face-to-face discussion involved. We just let them read our comments and if they have any questions, they will come to us. If they have none, then we’re okay. And sometimes, really, the person we are commenting on is just interested on his or her over-all rating. The comments? Read on.

Third, submit the evaluation to the partner for his / her review, comments and reference. The partner may also add other comments, refute some of the ratings and even change the over-all rating of the junior or senior.

Fourth, hold a meeting with other seniors and managers. This meeting is where our ‘forced ranking’ occurs. We rank each junior or senior according to their level or ‘batch’. Such a meeting takes anywhere from 2 hours to 6 hours, depending on the number of people we have to rank.

Fifth, submit everything to the partner and to the HR for final approval and future reference.

Sounds easy? NOT! On paper, yes, but definitely in practice, it’s a resounding NO. The reasons? You have to check out my next post on that.

2 comments:

  1. Larger China's punitive income tax rolex replica with extravagance objects indicate overseas holidaymakers may make large benefits by means of looking on vacation. Subsequently, not any fewer than a couple fifths connected with extravagance tourists cite looking one of many key requirements with regards to excursion. In truth, the posh Company rates a staggering 40% off extravagance expenses with European union are currently of Far east nationals. Along with the state to help help almost all is usually People from france. Numerous expenses usually are treats, in addition to reviews show a robust affinity intended for replica rolex well-established companies including Tiffany, Apple company company, Cartier in addition to Luis Vuitton. Definitely, Far east extravagance people delight in obtaining in companies that has a pedigree, a history, a tale to express to; merchandise of which call to mind some sort of way of living. It truly is a space the spot that the South west spot is usually sturdy, and this also is a beneficial time period intended for fake watches uk corporations to get started planning on the way they may exhibit these prices. Pretty much, there are various connected with beneficial sites to get started. As well as things to consider, Far east unique attaining websites or maybe microsites fake rolex on the net will deliver anything to enhance with yahoo and google including Baidu, escalating precense to help these investigating vacation though likewise turning it into obvious that a small business welcomes shoppers by China and taiwan, and is particularly attuned on their replica rolex watches desires.

    ReplyDelete
  2. There are luminescent fretting hand plus prints, your attach all the way down top, sapphire ravenscroft crystal event to the backside but it on top of that includes other time frame zone which will is getting ready to GMT. rolex replica sale Dark colored may be known as your normal colouring similar to white colored. rolex replica uk Just after most people express self-sufficient colouring this indicates them goes with almost every other colouring. replica rolex Them is very much fine only and also if in addition to alternative tones. Dark colored is definitely quiet nonetheless exquisite, subtle nonetheless robust, straightforward nonetheless naughty. fake rolex uk Its waterproof about 50 meters. replica rolex sale A Tuxedo look forward to gentlemen is definitely super-hero by way of AP's famend Quality 2120 activity, as well as watch out for young women benefits a self-winding Quality 2140. Each one exercises will be painstakingly hand-completed that will unquestionably deliver superb correctness plus superb performance.

    ReplyDelete