{"id":125054,"date":"2024-05-09t11:59:09","date_gmt":"2024-05-09t15:59:09","guid":{"rendered":"\/\/www.g005e.com\/?p=125054"},"modified":"2024-08-29t23:53:19","modified_gmt":"2024-08-30t03:53:19","slug":"employee-retention-is-easier-than-attraction","status":"publish","type":"post","link":"\/\/www.g005e.com\/2024\/05\/09\/employee-retention-is-easier-than-attraction\/","title":{"rendered":"employee retention is easier than attraction"},"content":{"rendered":"

\"four<\/strong><\/p>\n

five conclusions from a new report.<\/strong><\/p>\n

by 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n

the accounting talent pipeline problem isn\u2019t going away. it isn\u2019t even improving.<\/p>\n

but it isn\u2019t hopeless.<\/p>\n

more: <\/b>let interns fix the staffing shortage?<\/a> | disruptors: talent crisis? what talent crisis?<\/a> | 3 ways to raise the bar for your business<\/a> | accountants\u2019 advice: be careful, quick, creative \u2026 and lean<\/a> | seven steps to a stronger future<\/a> | accountants bullish locally, bearish nationally<\/a> | top performers lead in leverage, culling, outsourcing<\/a> | auditing standards \u2018yellow book\u2019 updated<\/a> | firms culling clients as staffing woes persist<\/a> | revenue up at 59% of accounting firms \u2026 and more good news<\/a> | compensation\u2019s up, but up enough to retain staff?<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/h4>\n

 <\/p>\n

a recent report from the pennsylvania institute of cpas points out that, though the problem is big and the obstacles many, cpa firms can, with enough effort, hold on to the talent they\u2019ve got.<\/p>\n

and retaining talent is a lot less expensive than trying to attract it.
\n
\nbe warned<\/strong><\/p>\n

the report, \u201ccpa talent retention 2024: keeping your best performers,\u201d pulls no punches.<\/p>\n

\u201creaders be warned \u2013\u201d the executive summary says. \u201csome of our findings point directly to the need for firms to make difficult and transformative changes to their practices. the inconvenient truth we uncovered is that the challenges that have contributed to severe pipeline constraints are also forcing the profession\u2019s best talent out the door.\u201d<\/p>\n

the report looked at two large groups:<\/p>\n

career changers<\/strong> \u2013 cpas and other accounting professionals across the nation who had 0-15 years of experience before they left a firm or the whole profession within the last five years.<\/p>\n

current talent<\/strong> \u2013 cpas and other accounting professionals in pennsylvania with 3-10 years of experience, a cohort that has a high potential for leaving a firm or the profession.<\/p>\n

the challenge, the report says, is to keep current talent from becoming career changers.<\/p>\n

the report came to five crucial conclusions:<\/p>\n

    \n
  1. there\u2019s no quick fix, no silver bullet. jacking up salaries might help, but firms need to look at \u201cwhole person retention.\u201d professionals, especially the younger ones, want flexible work options, a balanced workload, better benefits, more time off and professional development.<\/li>\n
  2. most current talent \u2013 but far from all \u2013 would like to stay in the profession and with their current firms. more than 73 percent give their current jobs an approval rating of five or better on a scale of one to seven. still, that leaves a quarter of them at least a little shaky.<\/li>\n
  3. workload management is broken. unreasonable and unsustainable expectations are obstructing the incoming pipeline while leaving the outflow spigot wide open.<\/li>\n
  4. salaries are lower for accountants than for positions with comparable education requirements. so yeah, jacking up salaries is a big part of the solution. but with 54 percent of cpas in pennsylvania wanting to stay in the profession but not become a partner or principal, a good half of them are looking for something other than, or in addition to, money.<\/li>\n
  5. firms need to re-evaluate and modify their business models. and they need to do so now, with urgency. next year, 27 percent of the workforce will be gen z, with their historically unprecedented expectations about workplace environment, culture and support. antiquated business models won\u2019t give them what they want.<\/li>\n<\/ol>\n

    focus on retention<\/strong><\/p>\n

    a focus on talent retention must be a cornerstone of any new business model. the average cost of replacing an employee in any industry is about half of the employee\u2019s annual salary. the more skilled the position, the higher the cost. for a supervisor, it could be as much as 150 percent of an annual salary. in some cases, recruiting, hiring and onboarding a new employee can cost as much as $240,000.<\/p>\n

    retention: it may be the<\/strong> most important management challenge for every cpa firm. it deserves the utmost attention.<\/p>\n","protected":false},"excerpt":{"rendered":"

    five conclusions from a new report.<\/strong>
    \n    \"\"<\/a>
    \nby 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n","protected":false},"author":17,"featured_media":125067,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[5,3120,2297],"tags":[643,715],"class_list":["post-125054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-outlook","category-pro-member-exclusive","category-staffing","tag-hiring","tag-jobs"],"acf":[],"yoast_head":"\nemployee retention is easier than attraction - 卡塔尔世界杯常规比赛时间<\/title>\n<meta name=\"description\" content=\"actionable intelligence for tax, accounting, and financial professionals\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"\/\/www.g005e.com\/2024\/05\/09\/employee-retention-is-easier-than-attraction\/\" \/>\n<meta property=\"og:locale\" content=\"en_us\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"employee retention is easier than attraction - 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