Set Sail: 6 Ways to Avoid Being the Tax Department Anchor

Posted by Traci WheelercloseAuthor: Traci Wheeler Name: Traci Wheeler
Email: traci@redmoonsolutions.com
Site: http://blog.redmoonsolutions.com
About: Traci is a member of the executive leadership team and leads our sales and marketing efforts at Red Moon Solutions. She has over ten years of software business experience serving small and large clients in a variety of industries.See Authors Posts (120) on Oct 4, 2011 | 0 comments

A couple of weeks ago, I read the latest JP Horizons newsletter from Jim Paluch, and he was talking about sails and anchors. This is pretty unusual for a business newsletter, so it caught my attention. In his latest edition, he differentiated the employees within a company as either having set their sails or become the proverbial anchor.

Having worked with many people in corporate tax over the years, I have met my share of anchors. I’m sure you know who I am talking about…the person that sits in the meeting to discuss a better approach to dealing with IRS audit, nods their head like they are on board and then quickly leaves the meeting with no intention of following through. Or, the person that won’t explain their state income tax spreadsheets or admit they spend too much time working on them for fear they will lose control of a process they own?

Do you have any one that resembles an anchor in your corporate tax department? Whether it is you or just someone you work with, the good news is you aren’t doomed. These people don’t have to sink the ship. They can change (if they want to).

Here are six ways I think someone can avoid becoming the corporate tax department anchor:

1. Self-assess - Take a step back periodically and look at your day-to-day actions and attitude. Are you coming in every day and doing the same thing the same way? Do you look forward to your day? Or has it just become a paycheck? Are people following your example or steering clear of you? Sometimes a reality check is all you need.
2. Listen to others – Ask others in the tax department for feedback. If you are, in fact, the anchor, your co-workers already know it. Find the leader in your tax department and get their honest opinion.
3. Never get too comfortable – Have you been working on the IRS audit team or in state income tax for years? It is easy to get used to what we do and settle into a routine. We are all guilty of doing this from time to time, but don’t do it. Once you have mastered a particular process or area, look for new opportunities to add value.
4. Challenge yourself – Find a way to do something better. Consider a new approach. What can you do to support new initiatives in the tax department?
5. Set an example – Be the person others want to follow. Support good ideas, challenge the status quo. Spearhead an effort to talk about process improvements or a new project that could minimize the time spent in a particular area.
6. Fight the fear – Fear is the very thing that prevents most of our successes in life. It tells us our job is in danger (even when it isn’t). It tells us not to raise our hand in a meeting because we couldn’t possibly have any better ideas. It limits the possibilities we are able to see and take action on. Get good at recognizing your fear and not letting it get in your way. It takes work but the more you do it, the better you will get at it.

It doesn’t have to be a J-O-B. Use the six basic reminders above and set sail in the tax department.

What do you do to avoid being the tax department anchor? What is the most effective for you?  Are there other things you can recommend to fellow tax professionals?  I would love to hear from you. Please share in the comments below.

Photo courtesy of Duncan’s Daily Despatch