A cut above

A few weeks ago I was asked for tips on how to be successful at work. While I am probably the last person who should be answering this question, I have worked for a number of different firms with varying degrees of success. I have seen a large number of people promoted; some deservedly so, and others, perhaps may be not quite so. So maybe I can offer a small insight.

First of all, there is no magic formula to this. If there was, everyone would be a partner. There is also a heavy dollop of luck involved. This is not just about being in the right place at the right time, but also recognising the opportunity when it arises.

There have been many times when a great opportunity passed me by, and I was too dozy to recognize it. So just because it doesn't work out at one firm, it does not mean that the same will be true of another. Sometimes personality clashes or bad luck can detrimentally affect even the most diligent worker.

Putting that aside, my general experience is that the people who are the most successful are those that want it the most and that desire manifests itself in a variety of ways. Primarily, it can be seen in how hard people are prepared to work, and the calculated risks they are prepared to take in changing job to take advantage of other opportunities. Moving jobs is always stressful, while sitting in a comfort zone is very easy.

However, working hard is often not enough. You have to do something that distinguishes you from everybody else. Maybe you have a rare skill set. Maybe you speak Portuguese, or are an assiduous networker or a good communicator. You need to have something that distinguishes you from the crowd. There are a lot of other people who want your promotion. Just doing the basics of your job competently is not enough.

I would recommend developing a couple of additional skill sets. This might involve developing good connections within the media to help nurture the PR of the firm, or spending a couple of evenings a week networking. Bringing in significant amounts of new work is always a rare and highly valued skill set, that not many people can do consistently.

Another important question is whether to specialise and if so, how much. Specialists usually earn more than generalists, though promotion to the higher echelons can often be very difficult, at the specialist occupies a very niche area in a firm that is not regarded as a core service. There is also another potential down side as well.

When I was a trainee, I noticed an elderly gentleman in the corner of the room and asked what he did. It turned out that he had been a land development tax specialist and a few years earlier the chancellor had stood up for his budget statement and duly announced that he was abolishing land development tax.

So there he was in his late 50s and all of a sudden, a man without a profession. That has stuck with me ever since and I have always avoided specialising in any area of tax to the exclusion of everything else. I always tell my clients exactly the same thing. Keep yourself flexible; you never know what tomorrow may bring.

Most professional firms want to see a strong degree of business acumen among their senior staff. Ultimately, a promotion has to make economic sense for both parties. Therefore, a business case has to be presented, as well as technical one. A firm will not survive if it only has technical people at the top. So make sure a business case exists for your promotion.

However, the most important element is probably trust. As a senior manager or partner, you are the external face of the firm with a lot of autonomy and the ability to do a lot of damage. The senior partners are not going to put you into a highly responsible position unless they have a lot of trust. That involves demonstrating technical competence with good presentational skills, and an acute sense of keeping the firm safe at all costs.

So while looking for your dollop of good luck, don't forget to demonstrate how rare your talents are and that you are above all, a safe pair of hands. 

Geraint Jones is a tax partner at BKL Tax

He writes the regular in-practice article on doing business for Private Client Adviser