Are you paying attention to employee retention?

In 2023 hiring managers in public practice are grappling with the impact of a cost of living crisis, record rises of inflation and a skills shortage. It’s a complex era of recruitment that we’re in, and one where your staff retention strategy will directly impact your stress levels!

Here’s our 5 top tips for building a culture that focuses on retention alongside attracting great talent.

1. Invest

Every penny that you invest into your organisation, its infrastructure and your staff as individuals is a penny you won’t have to spend on expensive recruitment mistakes and campaigns.

So, make your working environments are as bright and airy as you can. Support your staff to deliver a great level of service with investment in marketing and communication.

And invest in your people…..

Make sure that all of your staff have direct opportunities to access learning and development and ensure that examples of how others have progressed and what each employee’s potential journey might look like are easily accessible.

2. Recognise and reward

When you’ve supported your staff to achieve greater qualifications, experience and enhance their skillset, you need to make sure you don’t fail to notice that they are now working at a different level. And with that ascension needs to come celebration and recognition.

And of course reward! There is nothing worse than investing training and opportunities into an accountant only for them to move on to a rival firm who was better at recognising the value of their newly learned skills!

3. Embrace

Embrace new ways of working and don’t get stuck in your ways. If your staff don’t see you taking advantage of new technologies or modernising their approach to flexibility in the workforce, they will jump ship. It’s really as simple as that unfortunately.

4. Address performance or communication issues

If there are low level issues rumbling on at your firm and your managers are failing to address them properly, you should definitely expect an exodus of leavers.

In 2023 accountants don’t want to work in toxic environments and as they know they are in a strong position due to the staff shortage, they will quickly choose to work elsewhere.

5. Recruit

It’s unlikely, in an article that focuses on retention, that you’d expect this to be in our top 5 tips! But though we hope the efforts you put in to retain your workforce will reduce unnecessary, reactive recruitment, don’t let it stop your proactive recruitment process!

It’s imperative that you engage in a constant recruitment process where you scan the workforce for potential talent who would be a great fit for your firm. Whether it be part of succession planning, your growth strategy or it’s simply to bring in some fresh eyes and vision, don’t let your workforce stagnate. Everyone will be happier and you will be more profitable if you’re adapting a mindset of constant recruitment.

‘At Public Practice Recruitment Ltd we offer retained recruitment packages for clients who always want to be the first to know about seriously talented potential recruits who come onto the market. Even if the role they have available isn’t immediately suitable, these hires can be flexible, but being the first one to hear about these candidates is imperative!’

Garry Howling, MD

To discuss the benefits of a retained package of recruitment with our team today and to use your recruitment projects as a tool in your armoury to solve retention problems, contact us at info@publicpracticerecruitment.co.uk.

 

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