This month Ernst & Young announced they would hire 6500 experienced professionals in the coming year and recruit another 9000 students, and they aren’t the only firm in the accounting world that is adding jobs. Where will all these talented, experienced professionals come from? They will be recruited from firms who are not paying attention to staff retention. They are being enticed to change jobs by their peers and college friends who receive bonuses for bringing in candidates.
You want to keep your experienced employees and not lose them to larger firms touting big dollars. Develop a retention plan that shows them support, respect, trust, and appreciation. Get involved in real conversations, ask questions, garner input, and listen to them. Listen to better understand their views, NOT listen just to respond. Focus on their needs and development, and be able to adapt to ongoing change.
In other words, use the principles of improvisation to retain, engage, motivate and inspire your employees and see your ROI increase almost overnight. It is far more difficult to convince an engaged, motivated employee to even consider leaving their job.
Try it. You have everything to gain, and a lot to lose if you don’t.