Standing out in the competitive talent market
Attracting and retaining talent has been a top priority for firms of all sizes in the AICPA’s annual Private Company Practice Section survey for, well, as long as most of us can remember. But the problem isn’t going away.
Jacqueline Lombardo, MHR, operations manager and head of human resources for Boomer Consulting, Inc., has plenty of experience hiring and holding on to good people. In addition to overseeing the company’s HR strategy, she co-facilitates several communities, including the Boomer Talent Circle, a network for talent professionals in accounting firms.
Lombardo sat down with The Net Gains to share her best advice for accounting firms that want to attract and retain talent in an incredibly competitive job market. - Janet Berry-Johnson
What are the most effective recruitment strategies accounting firms can use to stand out to top-tier talent in today’s competitive market?
Accounting firms can stand out by creating an engaging and transparent recruitment process and emphasizing their unique culture, values and growth opportunities. But there’s no one-size-fits-all approach — firms need to adjust their strategies depending on the position and level of the role.
Establish a talent pipeline by building relationships with universities and early-career professionals to fill entry-level positions. For mid-level and senior roles, networking within professional associations, leveraging employee referrals and tapping into specialized job boards or headhunters may be more appropriate.
How can accounting firms create a compelling employee value proposition (EVP) that appeals to both new recruits and existing staff?
A compelling EVP emphasizes the firm’s commitment to career growth, work-life balance and inclusivity. It should communicate the firm's mission, values and personal and professional development opportunities. For new recruits, highlight advancement pathways and learning opportunities. For existing staff, focus on recognition, internal mobility and work flexibility. Tailoring the EVP to different groups shows the firm is invested in employee success.
What role does workplace flexibility, such as remote or hybrid work arrangements, play in attracting and retaining talent in the accounting profession?
Workplace flexibility is critical for attracting and retaining talent in accounting. Remote and hybrid work arrangements and flexible hours allow employees to balance their professional and personal lives, which is appealing to people seeking better work-life integration. However, flexibility is a balancing act. Firms must set clear expectations and create a win-win situation for employees and the firm. When managed well, workplace flexibility leads to happier, more engaged employees who are more likely to produce higher-quality work.