Blog

Hooking the Big Fish

Mark Steadman’s article in the July 2008 issue of CPA Journal “What Small CPA Firms are Doing to Recruit and Retain Staff” examines top recruiting and retention activities. The article acknowledges the importance of recruiting top candidates in order to develop a viable succession plan. Smaller firms are faced with an especially difficult situation, as many new graduates assume a Big 4 firm is their best bet. Smaller firms are placing a new emphasis on recruiting and retention in order to help attract new employees.

Of course, Morgan Ross Group also offers a great recruiting alternative. But what I really want to talk about is retention. Once you’ve hired that hot new CPA, how do you keep him or her?

Traditional retention factors include an open door policy, flextime, paid overtime or time off, improved technology to reduce mundane work and professional growth opportunity. But I’m curious to hear from all of you what keeps you at your jobs. The list offered in the CPA Journal isn’t really anything out of the ordinary. Any job can offer paid overtime…but I want to figure out what perks are really retention incentives. Companies like Google are famous for their work environment – does your firm rival that atmosphere? Has anyone been offered any great benefits that have made their job seem more attractive for the long term?

Posted by David Flax, CPA on September 22, 2008 • Email to a Friend

Comments (5)

The best perk that an accounting firm can offer is the ability to do your best every single day.  The best clients, the best resources and the best opportunities are what keep A-List players motivated.  Its not about the money or the title or dog sitting.

Nivek • Posted on Wed, September 24, 2008 - 8:15 pm EST

I am not a CPA but I work as an R&D;Atlanta Paraprofessional for my firm. I take care of the financial portion of the R&D;work, as well as monitoring and opening/closing projects. We have over a hundred clients we’re working with just in our office alone, which can be pretty hectic at times.
Our work environment here is very fast paced and the work can be overwhelming at times, but my partner offers us incentives that keep the workplace happy.
Most of our staff here are CPAs and/or are working to obtain their CPA.
With the way the economy is right now, it’s difficult for some companies to keep their staff, so I believe that most of our staff would rather stay if they can because they worry about being able to find a position within another company - because the economy is unstable.
The benefits here at Deloitte are very good. That’s a big plus for most people...at least it is with me.

Jeanette • Posted on Thu, September 25, 2008 - 10:07 am EST

Besides flextime firms need to be flexible.  We are all professionals and understand that we need to serve our clients.  Having a “you’ve done a great job, go home early today” pass does wonders for morale.  No one wants to feel someone is always looking over their shoulders when he/she is required to work long hours at certain periods of the year (i.e., busy seasons).  Give the staff a break that isn’t PTO time.
People are willing to give to a firm that gives to them.  Small perks such as free snacks or dinners, car wash cards, movie tickets, etc boost morale.  These incentives are cheaper than larger compensation increases.  If people enjoy their work environment they are less likely to complain about the overtime that’s required, especially since overtime is the expectation for salaried workers.

Kay • Posted on Thu, September 25, 2008 - 4:15 pm EST

A clear career path is critical, especially for those employees that are driven and highly marketable (most likely the one’s a company would like to retain).

Michael • Posted on Fri, September 26, 2008 - 7:10 am EST

We are a financial institution. Retention program so far is up each departments. We have an average retention program - flexi-time (7-4pm or 8-5pm or 9-6pm), 3 weeks vacation as opposed to 2 weeks for staff, study time for exams, training budget to obtain CPEs, reimbursement for exam study materials, subsidized MBA programs. It does also help when the co has a free fitness center program, free parking facilities, free soft drink dispensers. Most of these are pointers in a sale pitch to potential candidates. The first three is more towards retention.

Alex • Posted on Fri, September 26, 2008 - 9:30 am EST

Post a Comment




Please enter the word exactly as you see it in the image above (it is case-sensitive):