5 Tips To Help Your Accounting Firm Attract & Retain Top Talent In 2023

The recent pandemic has caused a huge shift in the world of work, meaning it’s become increasingly challenging for accounting firms to attract and retain top talent. As unemployment rates fall and job vacancies rise, UK organisations are looking for innovative solutions to bring new talent into their business, and more importantly, to make them stay. 

If your accounting firm is keen to attract the right talent in 2023, keep reading to uncover our top tips for succeeding with recruitment in a candidate-driven world. 

Why is employee retention so important?

You may be reading this article wondering just why you should care about employee retention so much. Well, aside from the obvious fact that the recruitment and onboarding process is costly and time-consuming, using resources that could well be invested elsewhere, it’s all to do with productivity. 

A stable, well-established team is likely to be far more productive than one which is constantly chopping and changing. After all, they know each other’s strengths and have formed relationships which allow them to collaborate with ease. And on a more personal level, the longer they are with you, the better they’ll understand your business and their role; it’ll become second nature to them. 

How to attract and retain talent for your accounting firm

#1 Know your employees & start as you mean to go on

Knowing the type of candidate you want to attract and speaking a language they understand is key to succeeding with recruitment in 2023. Your accounting firm needs to take time to recognise the wants and needs of your current and prospective employees and ensure that you not only have policies in place to satisfy them, but that you know how to communicate these benefits effectively. Examples of popular benefits include:

  • Flexible/ remote working
  • Pensions
  • Holiday and sickness policies
  • Private health and dental care

With that being said, it’s no good promising them the world and being unable to deliver. If you fail to provide they will look elsewhere. Being open and honest from the start will always pay off. Whilst it may take you slightly longer to attract candidates, you can be sure that those who do apply are on board with your policies and know exactly what to expect when joining your accounting firm. And if they are happy with the plan from the get-go, it’s highly likely they’ll stick around for the long run. 

example benefits accounting firm job ad used to attract and retain - company pension, employee discount, free parking, life insurance
Example benefits listed by accounting firm used to attract and retain talent

#2 Understand why people leave

If you’re looking to evolve your recruitment strategy and reduce your employee turnover rates, one of the best things you can do is find out why people are leaving and address any issues that arise. Exit interviews are a great way to unlock insights from your employees and understand things from their perspective. If there’s something your firm could be doing better, you’re far more likely to hear about it from someone who will no longer have ties to your business. 

But with that being said, if you have regular meetings and 1:1s with your employees, and create a culture where they feel comfortable being open and honest, you can address issues as and when they arise, helping to resolve them before they get out of hand. Ultimately, know how and when to action is going to be one of the most impactful things your accounting firm can do in the long run.

#3 Build your accounting firm’s reputation

Getting your name in front of clients is one thing, but ensuring you are seen and heard by prospective employees is a whole other story. Whilst it’s not as widely spoken about, marketing your accounting firm and employer brand is a crucial step in today’s world. Not only does it ensure your policies, benefits and culture are communicated effectively, but it also helps to build trust and desire among potential candidates. 

example accounting firm social post employer brand company culture
PwC use social media to share insight into their workplace

If you haven’t already, you need to seriously consider building your employer brand and showcasing your company culture on social media. With 90% of job seekers now turning to social platforms at some stage in their search, having a presence is more important than ever. 

#4 Offer opportunities for growth and development

Today’s workforce is ambitious. They know what they want and will always find a way to get there – with or without you. The majority of candidates will be looking for accounting firms that show promising progression opportunities with an emphasis on personal development. Essentially, they are looking for a career rather than just a job.

If you want to attract and retain top talent for your accounting firm you need to outline a clear path for them from the very beginning. Employees who feel like they’re progressing within their role are 20% more likely to stay with your firm, so give them something to work towards and show them that hard work pays off. If they recognise the potential for growth from your initial conversation and feel supported along the way, they are far more likely to stay with you as you help them to unlock their full potential and reach new heights in their career. The key is to present them with new opportunities so they don’t go looking for them elsewhere. 

#5 Show you care

If you are serious about attracting and retaining top talent for your accounting firm, you need to start treating your employees as what they are: humans. Understand that they have good and bad days, take the time to get to know them, show your appreciation and recognise their achievements, and most importantly, ensure they feel comfortable talking about any issues openly. 

Go the extra mile to ensure their well-being is protected; work with them to reduce burnout & find the right work/life balance, and offer resources and support to ensure your employees are happy and healthy. 

Of course, this is just the tip of the iceberg. Recruitment is a complex process that takes time and needs to consider a lot of different elements. Whilst it can be all too tempting to rush into things, taking time to perfect your process will be much more beneficial in the long run. If you’re looking for a helping hand building your employer brand, get in touch to organise a free consultation with one of our marketing experts. 

 

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