According to Randstad (2020), “There are many reasons for someone to leave their job, from dissatisfaction with career progression opportunities in their current role to the promise of more attractive pay and benefits elsewhere”.
In my accounting profession, staff turnover rate is high as every company needs accounting staff.
It seems like for Human Resources Managers, it is a “never-ending game” to catch up with hiring accounting staff (Randstad, 2020). Further, Headhunters will approach them directly on their Social Media accounts and offer more than what they are currently earning and offer good benefit package. When you lose valuable employees, it adds more cost to find suitable candidates and train them.
Here are few employee retention strategies that can keep staff turnover rate under control.
- Employers should offer work life balance such as flexible work schedule or four-day work and some week and some remote work. This will allow accounting staff to take care of needs such as children’s school or medical appointments.
- Managers should have an open-door policy. This will encourage open communication, discussion, and feedback about anything that is important to employees.
- Provide adequate resources so accounting staff can preform their jobs.
- Salary and incentives should be industry competitive.
- Employers should invest into equipment and technologies
- Human Resources should send out Surveys to find out how accounting staff feels about their jobs.
- Professional Development – employers should encourage accounting staff to take courses paid by company to upgrade their skill-sets.
Any thoughts?…
Employees retention issues companies face today.(2020, June 05). Randstad. Retrieved from https://www.randstad.com/workforce-insights/employer-branding/employee-retention-issues-companies-face-today/
