A respected public accounting firm was not obtaining the number of new employees that had been the experience in the past.
Public accounting firms traditionally rely on a progression of staff moving into the firm as interns or entry level accountants, progression into manager level, and perhaps partnership. Some employees will move into positions with other companies where the ongoing relationship for the public accounting firm will be continued.
Traditionally, the first few years with a CPA firm are similar to joining the Marines. Just as former Marines have a very high level of pride and loyalty, the CPA's have had a similar response.
A change in culture has occurred. Work/life balances have changed.
A situation such as this requires investigation to a number of possible causes:
The investigation considered a number of areas.
One aspect of company culture was investigated by analyzing tenure of past employees for the client and 3 peer companies. The results follow.
One aspect of difficulty locating employees was investigated by analyzing jobs for similar positions in any CPA firm compared to locating an HR manager. The results follow.
A number of recommendations were provided: