the aftermath of the great resignation leaves many questions.
by 卡塔尔世界杯常规比赛时间 research
rosenberg national survey of cpa firm statistics
as the pandemic wound down, there was a pretty big shakeup at cpa firms. almost a fifth of employees left their firm. some moved on to similar positions. some got canned. and some ditched the whole profession in a search for satisfaction elsewhere.
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charles hylan – managing director of the growth partnership, which conducts the rosenberg national survey of cpa firm statistics – hazards a guess, based on his experience with cpa firms, that “a large number are leaving the profession altogether.” among all firms surveyed, i.e., firms with over $2 million in billings, “a whopping 75 percent of staff turnover is voluntary.”
two whopping percentages
this is the first year that the survey tracked not just the rate of employee turnover but the voluntary versus involuntary percentage.
but why did they leave? practice leaders would like to know in an industry beset by a shortage of professionals.
- was it a jump to better remuneration?
- was it a search for a more pleasant workplace?
- was it an advancement to a better position?
- was it dissatisfaction with the profession itself?
and if we want to delve into the nitty-gritty, did the errant employees find what they sought?
that whopping 75 percent voluntary turnover leaves another whopping 25 percent—the 25 percent who were asked to leave the firm for some reason. that seems like a large number for such a buttoned-down profession. again, it would be interesting to know the why behind the firing.
- was it incompetence?
- was it a bad attitude?
- was it misbehavior?
- was it forced retirement?
- was it just a necessary layoff?
- was it the result of a merger or acquisition?
a decline in turnover
the rosenberg survey isn’t the place to pursue such questions. its wealth of data is objective, measurable and numerical. some of the more significant numbers are the percentages showing a steep decline in turnover and a certain consistency across firm sizes.
- at firms with net fees over $20 million, turnover dropped from 19.2 percent in 2022 to 12.9 percent in 2023, when 78.6 percent was voluntary.
- firms with net fees of $10-20 million had a turnover of 18.5 percent in 2022, dropping to 12.1 percent in 2023, and 71.6 percent were voluntary.
- $5-10 million firms dropped from 19 percent to 11.8 percent, with 74 percent voluntary.
- $2-5 million firms dropped from 18.4 percent to 9.7 percent, with 80.2 percent voluntary.
- the smallest firms – those billing less than $2 million – saw the biggest deviation from the general trend. they enjoyed the biggest drop in turnover (to 10.3 percent from 23.1 percent) but the lowest voluntary turnover, 66.2 percent. that latter number means a third of those who left a small firm left involuntarily.
such interesting numbers. each one has so many stories behind it and so many questions that someone needs to ask.