It’s been a hot topic lately – where has the talent gone? I remember the days when firms were reluctantly “letting go” of talent to try to make ends meet. Now it seems that firms can’t hold onto talent to save their lives. So, where has the talent gone and how do we get it back? Here are a few ways to start…
Understand the shift in expectations
The accounting industry is changing, and with that change come a shift in expectations. The new talent is now among Gen X, Gen Y & Millennials (refresher: 1965 - 2004). These are the up and coming future leaders and they want to be heard. So, take time to understand what it is that they are looking for. Here’s a hint: a forward-thinking firm that utilizes technology and gets excited about it!
Create a truly collaborative environment
This younger generation wants to feel like they’re part of a team, not just a “staff accountant” that is in fear of falling below 90% billable. If talent is what you’re looking for, it’s up to you to inspire your staff. The more excited they are about going to work every day, the more they will contribute to the overall success of your firm. And the longer they will stay. It’s in our nature to want to be part of something bigger, so give your staff that opportunity.
Always be open to change
It’s a tough one to swallow – no one likes change. But it’s necessary to accept change with open arms in this industry, especially now. The best talent out there is always doing one thing: asking “why.” Jump on board with these thought-leaders and allow them to help your firm change.
There you have it. Understand what people are looking for in a firm. Create an environment where they can shine. And embrace the ever-changing accounting industry.
I promise you, the talent will follow.