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In this episode of The Leader Show with Lou Carter, Patrick Walsh, CEO of Withum, highlights the critical role of a positive workplace culture in enhancing employee satisfaction and success. Emphasizing integrity, inclusivity, and innovation, Walsh discusses how these values support a thriving environment.
He also touches on Withum’s recognition programs and community contributions, crediting his Irish American heritage for his resilience and optimism. The conversation underscores the significance of trust, communication, and a growth mindset in fostering a beloved and successful workplace.
Hey folks, thanks for joining us on a brand new episode of The Leader Show with Lou Carter. We are joined by Patrick Walsh, CEO and Managing Partner of Withum, a top 25 accounting firm in the U.S. renowned for its strong workplace culture and being recognized as a Most Loved Workplace®.
Patrick, a first-generation Irish American, brings a blend of positivity, resilience, and an entrepreneurial mindset to the firm. Under his leadership, Withum has prioritized integrity, inclusivity, and innovation, creating an environment where employees are encouraged to thrive.
In this episode, we’ll delve into how Withum’s values align with employee aspirations and the impact of these principles on both the team and the firm’s success. We’ll also learn about Withum’s innovative recognition programs and the significance of creating a positive workplace.
So, without further ado, let’s jump right in.
Firstly, Lou delves into Withum’s culture of putting people first, a principle Patrick credits to the firm’s founders, Fred Withum, Len Smith, and Ivan Brown. Patrick emphasizes the importance of listening to team members’ needs, communicating effectively, and executing plans to meet those needs. Withum has established a “no-jerk policy” to foster a collaborative and enjoyable workplace.
Patrick then discusses how Withum maintains its culture while growing and staying relevant to new generations. With 2,500 team members in the U.S. and 300 in India, the firm focuses on creating a sense of belonging through annual events and a commitment to acting like a “big firm that acts small.”
This approach includes celebrating achievements and living by “the Withum way,” which encompasses ten principles emphasizing client focus, community involvement, and integrity. Patrick strongly believes that by celebrating small achievements and fostering a sense of unity, Withum strengthens its culture and team cohesion.
Moving on, Patrick discusses the Withum Week of Caring, a core initiative reflecting the firm’s commitment to community engagement. This event, held during the three days leading up to Thanksgiving (Monday through Wednesday), allows team members to volunteer up to a full day’s time to a charity of their choice.
The initiative allows offices to support diverse causes, letting employees volunteer in soup kitchens, environmental cleanups, Habitat for Humanity builds, or Boys and Girls Clubs activities. Highlighting the firm’s people-first ethos, Patrick emphasizes the importance of investing in employees so they can deliver world-class client service and contribute to strong, vibrant communities.
The Withum Week of Caring is a direct reflection of the firm’s dedication to its core values, including a deep commitment to the communities where employees live and work.
Next, Patrick discusses the intrinsic connection between volunteerism, community engagement, and the success of Withum. He notes that giving back is not only a moral imperative but also a strategic business practice that fosters company growth and internal development. It is viewed as a virtuous cycle, where investing in communities and team members leads to recognition, infrastructure improvement, and overall success.
Patrick shares a personal perspective, noting that the act of giving often feels rewarding, suggesting that it’s a mutual benefit rather than a one-sided gesture.
He recounts the philosophy of his predecessor, Bill Hagen, that Withum grows to provide opportunities for team members, not just for the sake of expansion. This growth is tied to fulfilling employees’ career goals and aspirations, which motivates Walsh daily.
He takes pride in the firm’s consistent growth over its 50-year history, a testament to the intentional efforts of leadership and team members alike. This growth, coupled with a commitment to people and community, exemplifies the firm’s successful business model and its positive impact on society.
In the same vein, Patrick mentions the importance of a growth mindset and continuous challenge within Withum’s culture, which is essential for both personal and company-wide success. The conversation highlights how Withum supports its employees through professional coaching, development programs, and opportunities to engage in community and cultural activities.
According to Patrick, this comprehensive support system is designed to encourage employees to step out of their comfort zones, fostering an environment where growth and development are paramount.
Patrick mentions “Pat’s Pubs,” a section on Withum’s website featuring recommended readings, including works by Angela Duckworth and Carol Dweck, to inspire resilience and a growth mindset among employees. He underscores the significance of grit, using Duckworth’s research to highlight the value of perseverance over inherent talent or intelligence.
The discussion also covers Withum’s approach to feedback and performance reviews, stressing the importance of continuous communication and trust. Patrick highlights that career progression in public accounting typically involves grooming successors, a task demanding trust in the firm’s dedication to nurturing talent.
He strongly believes that this approach has been key to maintaining high levels of employee satisfaction and trust, contributing to the firm’s reputation and success.
The conversation shifts towards the importance of trust within Withum, both internally among employees and externally with clients. Patrick underscores the critical nature of trust in professional services like accounting, where transparency and communication are key to avoiding surprises and maintaining strong relationships.
He underlines that becoming a trusted advisor, the client’s first contact for any issue, requires building trust over time with consistent ethics and effective communication.
Additionally, Lou and Patrick discuss the significance of admitting mistakes and the power of a sincere apology in building and maintaining trust. They touch on the broader implications of trust, positive intent, and forgiveness in both professional and personal contexts, highlighting these as foundational elements of a successful and resilient company culture.
As the conversation draws to a close, Patrick delves deeper into the role of grit, resilience, and optimism in both his personal life and professional leadership at Withum. Reflecting on his Irish American roots, he credits his parents, teenage Irish emigrants, with sheer determination, as epitomes of grit, overcoming adversity to pursue success against the odds.
Patrick highlights the importance of creating a supportive environment at Withum where failure is accepted and seen as an opportunity for growth and learning. He argues that choosing optimism positively influences others, promoting a culture where challenges are welcomed, and setbacks are seen as opportunities for growth.
Patrick also touches on the significance of continuous effort, learning from failures, and the power of maintaining a positive outlook. His leadership philosophy underscores the value of perseverance, the willingness to learn from mistakes, and the belief in a better tomorrow.
Thank you for your time!
