and five strategies for addressing attrition – before it strikes.
gauging the staff shortage:
how are accounting firms adapting?
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by bill penczak
firms are getting nervous and with good cause. as they plan for the 2022 busy season, audit and tax departments are realizing they may not have the resources to staff their jobs already on the books, much less any new work that comes about in the fourth quarter of 2021.
more on the staffing crisis: the digital toolset for hiring at a small accounting firm | learning how to hire amid covid | how covid rewrites the rules for recruiting | new covid strategies for staff recruiting and retention | irs has recruiting problems, too | 12 signs it’s time to outsource | how aging boomers impact the accounting profession | why remote workers need retreats |
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there’s been a lot written in the past few months about the great resignation, but the turnover problem in cpa firms has been endemic before the pandemic. one recent report finds that turnover in the top 50 firms is 17%, and one in every six firms experiences an annual turnover of 20 percent or more. that means that one out of five people who attend the busy season kickoff event won’t be around for the next one.
here are five reasons your people are quitting your firm for other firms, for a job in industry, or to become a citizen of the gig economy and work virtually from a beach in thailand:
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