Seventy Percent of the People on Your Staff are Planning to Quit

Source: Partner’s Report—The Monthly Update for CPA Firm Owners

Based on Why Employees Walk: 2005 Retention Initiatives Report (The Hudson Employment Index, www.hudson-index.com )

The report makes no distinction between accounts in public practice and industry. The most important reasons people stay are compensation, work-life balance, training, and good relationships with managers. Training and career growth are more important than compensation.

Accountants are more satisfied with their jobs than people who work in, for example, manufacturing or human resources.

But 68 percent of accountants contacted said they were either looking, had an up-to-date resume, or would be receptive to offers. Two percent were undecided.

Only 28 percent of accountants in the survey thought their compensation to be “excellent. Thirty-six percent characterized it as “good,” and 20 percent said it was “fair.” But 83 percent said their relationships with their managers were “excellent,” or “good.”

From Partner’s Report—the Monthly Update for CPA Firm Owners, November 2005, p. 4. For subscription information contact Institute of Management & Administration, Inc., 3 Park Avenue, 30th Floor, New York, NY 10016-5902. One-year subscription $329. 212-244-0360, [email protected]