Retaining valuable employees plays a key role in the success of any organization. The accounting and finance world offers no exception to this golden rule. Acting on a staffing plan and ultimately hiring and onboarding talented new professionals costs your organization both time and resources. Losing a valued employee starts that process all over again.
With a professionally satisfied accounting team in mind, here are a few insights on improving your company’s retention rate. Leverage these ideas to keep your organization one step ahead of its competition. Success is sure to follow.
Quality Management Is Vital
Your accounting managers need to be honest, fair, and proactive when it comes to leading their team. In fact, dissatisfaction with their manager is a major reason why employees look elsewhere for a better opportunity. As such, fostering excellent management throughout your organization gives the company retention rate a meaningful boost.
The Importance of a Positive Company Culture
Naturally, office culture greatly contributes to employee morale. Simple things like an ergonomic desk space and a powerful computer make it easier for your accountants to come into work on a daily basis – even during tax season! Offering snacks, drinks, and a weekly free lunch is an obvious way to boost office mode.
Providing Opportunities for Career Growth
Any company who wants to retain its employees needs to provide a career path to success. This includes advancement into a management role. Rob Alexander, CIO of Capital One Financial, commented on his company’s approach.
“Career development can include progressing up the management track, managing small teams and then bigger teams. It can also be an individual contributor career path for folks who want to develop their skill set and not become managers of others. We expect them to become thought leaders, and mentor others, and become a beacon of excellence in their craft,” said Alexander.
The Right Perks Boost Employee Satisfaction
Related to career growth, your organization needs to provide its accountants with a robust training program. Tuition reimbursement also serves to improve employee morale and ultimately retaining their efforts. Also include an agreement that anyone receiving tuition assistance must agree to stay with the company for a period of time for a more tangible influence on retention.
If you need advice on building a top-notch accounting team, talk to the experts at Venteon. One of the premier financial staffing agencies in the Midwest, we provide talented candidates able to boost your company’s success. Schedule some time with us as soon as possible.
