How Small Firms Recruit
Source: CPA Journal
CPA Journal reports on a survey of CPA firms with fewer than 50 professionals. The average was 10.7. Over half their business was in tax work, followed by auditing and bookkeeping. They also provided litigation support, business valuation, and estate planning.
When asked to rank the degree of difficulty they had in recruiting, the average response was 5.74 on a scale of 1 to 7, with 7 being very difficult.
Their recruiting activities included, in descending order:
- Referrals from employees
- Internships
- Website
- College faculty
- University events
- Internet recruiting sites
- Agencies
- Ads in newspapers
- Referrals from business associates
Their retention activities included in descending order:
- Maintaining an “open door” policy
- Flexible work schedules
- Overtime or compensating time off
- Improved technology to reduce repetitive work
- Bonuses and big raises
- Evaluations
- Challenging work
- Mentoring
Some reasons employees may prefer small firms:
- Informal environment
- Faster promotions
- More varied skill development
- Ability to work with clients to help them grow
For the complete article, click here and select the article "What Small CPA Firms Are Doing to Recruit and Retain Staff."
From The CPA Journal, A Publication of the New York State Society of CPAs, July 2008.
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