Righting Retention

Why is retaining talent consistently ranked as one of the greatest management challenges impacting the accounting and finance profession? What really drives the profession's perpetually higher-than-average turnover rates? The 2023 Insight Special Feature, "Righting Retention," aims to answer those questions and more.

Amid a progressively weakening pipeline of new accounting talent, we believe retaining talent is destined to become a more pressing issue than ever before. Throughout summer 2023, we hosted multiple focus groups, conducted personal interviews, and surveyed both current and former Illinois CPA Society members to hear their unique perspectives on the profession’s long-term trouble with turnover.

In soliciting employer feedback, we revealed their views and actions when it comes to retaining accounting and finance talent. In seeking to understand employees’ motivations to voluntarily resign from their roles, we identified the major drivers behind their decisions, including six key factors.

Ultimately, “Righting Retention” uncovers several areas where action can be taken to help improve talent retention and foster discussions that could lead to positive change for the accounting and finance profession.

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