You’ve seen your Junior Accounts Assistant strive over the years, improve their skills day-by-day whilst putting hours into their studies.
As they approach their final exams, you are extremely proud of how far they have come but worried that they will seek pastures new after receiving those hard-earned three or four letters.
After spending many hours & resources training, developing and supporting your accounting prodigy, the last thing you would want is a Monday morning resignation meeting.
So how do you do everything in your power to retain them?
Clear Career Progression
Providing a transparent pathway for career advancement is essential. Companies that offer structured development - such as opportunities to manage and take on additional responsibilities - help employees see a long-term future within your business.
Always remember to ask them how they would like to utilise their qualification, understand their motivations and see if you can align the business needs with their personal desires. Professionals who gain a breadth of experience and responsibility early on are more likely to stay engaged and committed.
Mentorship and Support
A strong mentoring/support program can make a significant difference in retention. Pairing those approaching newly qualified status with qualified team members will allow them to receive well-rounded career guidance.
This support system reassures employees about their growth opportunities and strengthens their connection to your team and company. Allow this to continue once they are newly qualified - just because they have finished their studies doesn’t mean the support should!
Be Flexible
It’s crunch time for your PQ star, and they need your flexibility. Ensure they have a strong work-life balance, give them time off to study for their exam and focus on their well-being. A common offer I see from employers is 1-2 days study leave per exam, plus exam days (normally capping around 5-7 days). The simple act of flexibility and being considerate towards your employee plays a key role in retention.
Competitive Compensation and Financial Support
It’s no secret that a big incentive of becoming fully qualified is the increased salary opportunities. But have you seriously reviewed the current salary levels for newly qualified accountants, are you prepared for the conversation? Get ahead of this conversation, and reach out to a trusted recruiter to benchmark salaries.
A great way to incentivise your PQ accountants early is to work in a salary increase, subject to qualification, or a bonus related to their exams. It will keep them incentivised, committed and grateful.
Commitment works both ways.
By implementing these strategies, you seriously reduce the risk of losing top part-qualified and newly qualified talent within your team during pivotal times in their careers.
GET IN TOUCH
If you need help to hire part-qualified accountants, or are looking to make your next career move, please get in touch. Contact Bradley Chilvers on bradleychilvers@srmrecruitment.com or +44 (0) 7398 766803.