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More than eight out of ten accountants wants to jump ship

More than eight out of ten accountants wants to jump ship

Accounting firms could find themselves without key members of staff as more than eight out of ten employees, including accountants for contractors, are considering changing job.

Definitive Consulting, a City recruitment specialist, recently surveyed senior executives and discovered that although 65% thought their employer successfully retained staff during the economic crisis, less than 10% said they have been very successful at keeping employees happy and engaged since the recession ended. And only 8% were very confident that their employer would make the correct people decisions whilst the recovery was still ongoing.

As a result of these negative feelings, 82% said that unless they are guaranteed a salary increase and a bonus, they will move to a new employer within 12 months. Out of those, 22% said they were ready to move immediately and 43% said they plan to change jobs within the next six months.

Almost two-thirds of the survey’s respondents said their employer doesn’t appear to be following a clear employee retention plan. Instead they are reacting to circumstances and making high counter-offers to encourage employees to withdraw their resignations.

The report went on to point out that employers seem to have learnt from the 2001 downturn when redundancies led to a skills shortage and high wage inflation. Instead, firms implemented salary and bonus freezes, long term leave and secondments to reduce costs during the economic crisis.

The MD of Definitive consulting, Darren James, said this strategic approach seems not to have extended into the recovery period. Employers need to stabilise the situation as a matter of urgency to stop key employees jumping ship.

Employers may want to bear in mind that the small business community values the advice of accountants highly. 48% of respondents to an unbiased.co.uk survey said that accountants helped them save money, 47% said they helped make sense of the UK’s complex tax system and one in five admitted they were their most valuable source of advice.

More than a quarter of the small business owners questioned said they had more time to focus on running their business if they used an accountant and 10% said they had more free time to spend with family.

© 2011 All rights reserved. Reproduction in whole or in part without permission is prohibited.

Image: Ready to jump by Nomad Tales

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