Feedback and communications the key to working partnerships

Two of the world’s richest men know a thing or two about communication and the importance of feedback.

Microsoft founder Bill Gates said: “We all need people who will give us feedback. That’s how we improve.”

Tesla founder Elon Musk agrees, saying: “I think it’s very important to have a feedback loop, where you’re constantly thinking about what you’ve done and how you could be doing it better.”

Former British wartime Prime Minister Winston Churchill was more forthright, he said: “If you have an important point to make, don’t try to be subtle or clever. Use a pile driver. Hit the point once. Then come back and hit it again. Then hit it a third time – a tremendous whack.”

Important to establish mutual trust

Sometimes in this country, we are a little backward at coming forward and not speaking plainly.

Feedback is a two-way thing between accountant and client and is important in establishing mutual trust and an open line of communication.

The world is an uncertain place, so quite often clients are feeling vulnerable and uncertain and misunderstandings can arise over:

  • Differences over the scope of the service being offered
  • Disagreement over what may be seen as unrealistic timelines and deadlines
  • Wrangles over budgets and bill paying problems
  • Clients acting erratically as pressure on the business mounts

Without providing feedback, what may seem like a minor irritant to begin with, and is ignored, can develop into a serious situation threatening relationships and also affecting the profitability of businesses.

It could be the client is late in supplying information on tax returns or VAT, putting the accountant under pressure, or the other way round with the client frustrated by returns not being dealt with in a timely manner.

If there is no current feedback to clients or customers then a system of communication needs to be established.

So it pays to listen to what the client has to say in a more formal setup, which could even involve a face-to-face meeting. Not necessarily in physical face-to-face, but the technology exists through Zoom and Teams to be able to communicate directly.

This needs to be on a regular basis, weekly or monthly and could also involve setting up calls, filling in review forms or digital communication via email.

How easy is it for you to give feedback?

Once the system is set up, it is then time to adopt the philosophies of Gates and Musk, or if things are not going well, the Churchill approach could be what’s needed.

Without a frank discussion, bad practices will drift and get worse. So both parties have to be honest with each. It may not always be pleasant if it is always negative, but constructive criticism can be acted upon and will ultimately be mutually beneficial.

If you don’t give feedback and the service is not as expected – what happens?

It would seem obvious, but if feedback is absent and the service is not up to scratch, then businesses will start to look elsewhere. It’s a competitive world and there is always someone prepared to say they will offer an improved service.

To avoid this you could go the extra mile by just not restricting yourself to resolving the challenge at hand, but offering some extra value. Ask what they want.

When you have established a line of communication/feedback, don’t leave it there and assume that the customer is satisfied once the challenge is resolved.

Follow up on what you have done and make the client happy and satisfied, rather than be demanding all the time.

Why partnerships are important

For accountants who are under pressure through staff shortages,  that kind of partnership and support can be offered through outsourcing.

Our record of support with accountancy firms speaks for itself and we treat our clients as partners. As we said last week in our blog, practising what you preach is important to build up relationships and that’s what we do at GI.

We believe in a full-on two-way exchange of feedback, so we can develop and improve our service while still offering a top-quality service virtually on demand.

Perhaps the last word should be left with Sir Dave Brailsford, who led the British cycling team to huge Olympic success. He said: “Clear feedback is the cornerstone of improvement.”

Contact our UK-based team of account managers today to find out how we can help your firm.

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