Attracting and retaining Talent in your practice

The accounting industry is going though a major shift in the expectations and aspirations of emerging talents. the new generation of workforce is placing a big importance not only on a workplace that aligns with their skill sets and career aspirations, but also their values and the work culture. 
Fortunately, we’ve been able catch up with some of the biggest influences in the industry from the fastest growing firms, to explore the elements they found contributed to creating an environment encouraging growth, learning, and progress in their practice.


Build a Visible Presence

In today’s interconnected world, prospective employees seek more than just a job. They’re choosing a workplace that aligns with their values and work culture. Embracing social media platforms like LinkedIn, Instagram, and TikTok is not just about marketing your services, it’s also an opportunity to showcasing your practice’s personality and effectively your company culture.

Highlighting and documenting your team’s experiences and the ethos of your workspace on these platforms can sway if decisions, especially for fresh talents seeking their first full-time role. If you’ve had a chance to catch our recent podcast episodes with Francesca Tricario (Future Cloud Accounting) and Mike Crocker (Gravitate Accounting), they talked very highly about the positive impact that embracing social media has had in their firms.

I agree, it can initially be a daunting task but the results others have experienced speak for itself, with practice owners putting time into developing their online presence now having the luxury of waiting lists to join their practice.


Encouraging Professional Development

While acknowledging the initial groundwork new hires must undertake (sometimes that’s the best way to learn). It is also essential to define a clear path for their growth within the practice, whether that be to taking on more responsibilities or taking charge of a specific segment of the practice.

Providing Clear expectations and support for their progression is a great way to develop a commitment and engaged team, while allowing them to feel included in the direction of the practice. Also, don’t forget to book frequent check ins to show continued support and interest in their progression, while continuing to keep them on track or readjust should circumstances change.


Embracing Technological Advancements

The upcoming generation of the workforce have grown up with technology, and possess a natural affinity for the technology prevalent in today’s accounting landscape. Integrating the latest tech into your practice not only enhances efficiency, but also make you a more attractive employer to new recruits.

Having a resistance to technological advancements may deter the interest of some prospective employees, and can leave them yearning for the it’s possibilities. Again, looking back to our Beanies In A Pod guest, Francesca, saw an opportunity as Cloud Accounting Software began to make it’s mark, however the partners at her practice weren’t particularly keen to move to cloud accounting software, leading her to start Future Cloud Accounting.


Flexible Work Arrangements

The workplace isn’t what it used to be, over the last few years we’ve seen a massive change in how people work, and importantly where people work. Many practices reserved ‘work from home’ for the most senior of the team, or didn’t offer that as an option full stop. The beauty of Cloud Accounting, automated workflows, zoom and a half decent internet connection is the ability to work and collaborate from almost anywhere in the world.

And acknowledging the diverse needs of the workforce plays a part in the flexibility available at your practice. Being able to offer remote work is a bonus for many, especially with important commitments in their life such as the school run. Additionally, many firms are extending that flexibility to their working hours that work around commitments throughout the day.


Wrapping things up

In conclusion, simply embracing change in your practice entails more than adapting to technology, it involves fostering an open, innovative, and flexible environment. Building a visible presence, encouraging development, embracing tech, and flexible work are aspects that will help you be a more attractive and progressive, subsequently attracting and retaining the right talent.


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