We’ve spent a bit of time recently talking about unique recruitment strategies for talent-strapped organizations. (See this post … and this one, too.) Today, let’s talk about retention.
According to this Robert Half International report, employers are rolling out the red carpet for top accounting talent these days, often in the form of higher salaries and enticing benefits. In fact, states the report, “in a survey of 1,000 hiring managers, 21 percent said the inability to offer competitive compensation was a key obstacle to hiring qualified workers.”
So what can smaller, resource-poor companies do to compete for top talent? The report suggests that you “tout the advantages of your work environment” by emphasizing things like your office’s family-like atmosphere, advancement opportunities, and little or no travel.
Equally important, though, is the ability to keep your employees stocked with the latest technology and resources that can help them do their jobs. “For today’s up-and-coming professionals, a paycheck isn’t enough,” the article states. “They want to do meaningful work in a stimulating environment. From a talent perspective, technology-savvy young professionals gravitate to firms that invest in the latest technology and provide the necessary resources, such as leading software solutions, to get the job done.”
Now where have I read that before?
One more thing: You might want to consider offering your CPA candidates the time and resources they need to pass the exam and earn their CPA designation. Reports show that CPAs earn up to 27 percent more than their non-certified peers … and that’s a benefit your employees will undoubtedly appreciate.
What are you doing to retain your top talent?