thirty-eight ways to retain personnel.
by 卡塔尔世界杯常规比赛时间 research
a survey conducted by the pennsylvania institute of cpas has come up with some disturbing data.
the survey report almost seems to spin bad news into good. when cpas in pennsylvania who have three to 10 years of experience were asked how strong is their desire to stay in public accounting, 56.7 percent rated their desire at five (out of seven) or higher.
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is that good news or bad? if about half of cpas are reasonably happy with their jobs … what about the other half?
about one out of five are neutral on the question, but almost as many rated their desire on the negative side of neutral. a good 7 percent had no desire to stay in public accounting.
the slightly better news: 73 percent gave a rating of five or more to their desire to stay with their current firms for the next five to 10 years.
still: that means more than a quarter may be on the verge of leaving their firm or the whole [cursed] profession.
danger, disaster, difficulty
in an industry that is short on talent – that is, short on professionals – attracting new accountants is dangerous, disastrous, difficult. and expensive.
the picpa report strongly recommends that firms do everything necessary to retain the talent they’ve got – at least the talent worth retaining.
“our findings indicate that pennsylvania firms are in a great position to retain their talent by listening to employees and providing some incentives and opportunities,” the report says. “employees seem to want to find reasons to stay. firms need to ensure that those reasons to stay continually outweigh any reasons to leave.”
the report also points out that cpa firms aren’t just competing with each other to hold on to talent. they are competing with the broader labor market.
whole person retention
the report rolls out a rather radical concept that deserves special consideration. it’s “whole person retention.”
the fundamental idea is that each individual professional has certain personal reasons for choosing to stay with or kiss off their firm. each sees the job from four perspectives:
- financial
- emotional
- physical
- social
if the firm can offer a personalized package of incentives that considers those perspectives, the potential problem of replacing an employee diminishes.
the report offers a long list of possible “person retention options” ranging from cheap to pricey, insightful to silly.
- clear paths to promotion or equity
- 401(k) matching
- stock options/profit sharing
- student loan repayment
- technology reimbursement
- restaurant or hotel gift cards
- employee rewards program
- paid family and parental leave
- child care reimbursement
- diaper subscription
- elder care reimbursement
- adoption assistance
- mental health workshops/counseling
- paid bereavement leave
- mental health days
- sleep pods/areas
- public recognition
- mentorship from partners
- four-day or shortened work week
- spa passes
- gym memberships or fitness classes
- tuition reimbursement
- massage chairs
- exercise equipment or swag
- on-site vaccine shots
- stand-up or treadmill desks
- biometric screenings
- unlimited pto/sick days
- paid industry certifications
- art/music/theater/sports pass
- paid volunteer days
- game room
- themed spirit days
- bring your pet to work days
- fun weekend rental car
- dinner/grocery delivery
- complimentary lunch and delivery to office or home
- rotating on-site services
which of these would appeal to a given employee? what else might appeal to someone?
there’s only one way to find out.
one response to “whole person retention: when it’s not just the money”
frank stitely
i would be curious to know if the graph has changed over time or if it really hasn’t changed that much over 30 years. it’s not alarming in that how many staff in that age range can project their lives out even three years.