3 “Must-Haves” for Retaining Top Talent

By Jennifer Wilson

I have written more about the talent shortages firms face than on any other subject. The growing wave of Baby Boomer retirements, the CPA Exam pass rate issues, the high demand for Millennial talent in virtually all industry sectors, the gender gap, and the lure of self-employment are all factors driving firm leaders to work harder than ever to find, attract, engage, and retain talent.

In fact, retaining qualified staff was the top concern for firms with 11 or more professionals in the most recent AICPA PCPS CPA Firm Top Issues Survey; it was a top five issue for firms with six to 10 professionals (see “Staffing Issues Surge to Forefront of Accounting Firm Concerns,” JofA, June 9, 2015). That might be because turnover is at its highest rate since 2009, according to the 2016 INSIDE Public Accounting National Benchmarking Report.

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