Wednesday, February 13, 2013

How to stop young CPAs from leaving public accounting

Partner: “You’re leaving! A couple of weeks ago we were talking about the big future you have here at the firm. What changed?”

Soon-to-be-former manager: “I got an offer I just couldn’t refuse. Not only are the pay and benefits great, but I’ll also weigh in on decision-making. The company develops lifesaving malaria therapies, and it will be rewarding to be part of an organization that helps save lives. Plus, I’ll actually be able to take my wife out to dinner on Valentine’s Day and attend some of my son’s ice hockey games this winter. It’s been a great ride, and I appreciate everything I have learned here at the firm, but it’s time to move on.”
Does this sound familiar? The public accounting world has always been a demanding one. Today we see leadership at public accounting firms confronting the challenge of top talent leaving for greener pastures just as Baby Boomers are preparing for retirement. The challenge is made even more difficult by the fact that there are more Baby Boomers in the workforce than Generation Xers. Bureau of Labor Statistics reports in 2012 show there are nearly 60 million Baby Boomers in the U.S. labor force compared with fewer than 50 million Generation Xers. Who is going to lead the profession in the coming decades? Who is going to fund partner retirements?

How do we keep them?

To read the full article click here

Source: Daniel Griffiths,

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