Tips for recruiting and retention in a 'Great Resignation' world

January 5, 2022 9:00 AM

A year ago, accounting firms were able to weather the unprecedented storm of 2020, often making large-scale adjustments on the fly, to keep the profession running successfully. However, a new challenge awaited on the other side: The Great Resignation.

Firm leaders and industry consultants share their strategies on how to keep talent after professionals reassessed their careers in 2021.

(See our full article on firms facing the Great Resignation.)

Deep connections

Staff at BeachFleischman

Our firm leaders communicate and build relationships with staff members to help them feel included and connected, particularly when it comes to our remote staff. Additionally, we recognize the adverse effects and burnout that COVID can have on staff members. Therefore, we encourage them to take time off from work whenever possible to recharge. For example, we decided to close our firm the entire week of Christmas this year so that our staff members could take a break, spend time with friends and family, and enjoy the holidays.

— Molly Willinger, human resources manager, BeachFleischman PC

Maximizing flexibility

As we move towards a more hybrid way of working, we will be continuing to look at ways to be more flexible in geographic placement of our hires. This is a great way to be able to expand our access to high-quality talent.

We will also be merging the best practices we’ve learned while recruiting virtually with in-person engagement activities to maximize the candidate experience.

The most important tactic is creating an adaptable and flexible strategy that can meet the unique needs of candidates by offering a suite of virtual and in-person options.

— Kathy Schaum, KPMG executive director of university talent acquisition.

Four big questions

On retention: There’s an old management axiom: 'People don’t quit their company, they quit their boss.' It’s true. If you want to keep your people, your most powerful magnet is the deep and caring relationship that you and your leaders build with your people. Every person should have a “shepherd” assigned to them to check in with them regularly, to know, assist and guide them. We should ask these four questions of all of our people regularly (not just when we’re afraid they’ll quit):

How are you, really?
What’s working well at work and why?
What’s not working well or not what you want to be doing, and why?
How can I help you?

On recruiting: Think non-traditionally. Over half a million students didn’t go to college last fall due to the pandemic. Accounting enrollments were down before that blip. The number of those sitting for the CPA exam has declined. Thinking we are going to build our talent base from accounting graduates and CPA candidates like we used to is a mistake. They will be part of the capacity or staffing equation, but not the whole thing.

Be open to outsourcing, offshoring, fractional staffing, and hiring remote, flexible and blended workers. Redesign your work flows to identify every step in the service delivery processes of the firm that can be done by non-accounting graduates — maybe even non-college grads and hire more operational resources to come in and support client service and project management."

— Jennifer Wilson, co-founder and partner, ConvergenceCoaching

Be a great place to work

I have always believed accounting is an incredible career path and should be followed. If firms practice modern flexible work arrangements, embrace remote work, and provide great places to work while paying a competitive market salary, people will stay. The problem is, these things are not happening more often than not, which leads to turnover.

— Jeff Phillips, CEO, Padgett and co-founder, Accountingfly

Ubiquity

Boomer Consulting president Sandra Wiley

1. Stop and do a check of your employee experience. Make the necessary adjustments for a sustainable future.

2. Create a recruiting plan based on your future needs and be mindful of what skill sets are necessary.

3. Think about ubiquity. Be everywhere with your message and touch all of the spaces and places that could possibly have the talent you need. (Hint… get your marketing team involved).

— Sandra Wiley, president, Boomer Consulting Inc.