9 ways to attract young and talented accountants

This article is a submission by D&V Philippines. D&V Philippines has years of experience in the accounting and finance industry. This third-party services company can generate the financial reports you need to make real-time financial decisions. 

As your company grows and increases the number of its clients, you’ll need a skilled and dedicated workforce that meets your standards. Other organizations might tap into the same talent pool.

Your ability to entice young potential employees can make or break your company. Particularly, young and talented accountants are difficult to get and equally hard to retain.

Their demands and needs are different. They might prefer a flexible schedule rather than a high salary. The compensation you provide should also entice them to join your team.

However, your management practices will be the determining factor whether they stay long-term or not.

9 strategies to attract and retain talented accountants

Here are nine strategies you can implement to attract and retain young and talented accountants:

1. Establish a clear career path

Young employees want to know their career trajectory within your organization.

Establish career milestones and the steps they need to take to get a promotion. Communicate the key performance metrics they need to meet before moving up to the next level.

Discuss your objectives for them and their role in your organization. Talk about the importance of their contributions.

Doing these motivates and engages your young accountants.

2. Opportunities for development

Young employees are looking for growth opportunities when they join a company. They want to know if an organization is willing to invest in them.

When you make your pitch to a prospective employee, discuss the opportunities you can provide. Mention training programs, certifications, and mentorships you can offer.

These entice them to join your company because they know you’re willing to invest in their growth and development. Long-term investment in your talented accountants increases their commitment and loyalty.

3. Competitive compensation package

Your competitors are vying for the same youthful and talented employees.

What will set your organization apart? One of the ways to entice a skilled employee is to offer a competitive compensation package.

Your competitor might be able to offer a higher salary based on skills and experience. However, you can sweeten your deal with all sorts of benefits that might attract talent.

Some of the incentives you can add to your package include health insurance, certification programs, travel, flexible work schedules, retirement plans, and performance bonuses.

4. Work-life balance

Young employees want to balance their lives at work and their social networks.

A flexible schedule can provide them with the work-life balance they yearn for. This approach can give you an advantage when it comes to talent acquisition.

During the interview, an applicant might have already inquired about the work culture and the schedules.

Discuss these points with them openly. Mention if your company’s work schedule is fully remote, hybrid, or on-site every day of the week.

5. Innovate and adapt to the latest technology

Young and talented accountants use digital tools and thrive in an environment that adapts to the latest technological innovations.

Modernizing your office enables you to streamline processes and boosts efficiency and productivity. This allows them to maximize their skills and remove redundancies in their tasks. It enables them to focus on what they do best.

Show your commitment to leading a forward-thinking company when you use the latest innovations.

6. Strong and effective leadership

Strong leaders drive a company forward through challenges and opportunities. Young accountants want to see leaders lead.

Let your management team lead by example. When you create policies, make sure your managers don’t just bark orders but follow them as well. This approach creates an environment wherein employees follow the rules.

Your company’s leaders should be able to inspire their teams. Your organization should also aim to foster an environment that can develop leaders.

Establish programs that empower employees and allow them to develop leadership skills. This practice reduces the turnover rate and keeps your workforce motivated and engaged.

Talented accountants will know they have a future in your company and you have a plan for their career development.

7. Employer brand identity

Your company’s brand identity is a factor that can determine whether a young accountant will join your organization or not.

Candidates will want to know more about your organization beyond the services you offer and the clients on your portfolio. Communicate your organization’s mission and values not just to potential employees but also to your audience.

Some people choose a company because of the values it embodies and not just its compensation package. They want to know if you care about the environment or if your company is invested in developing or helping the local community.

Use different online platforms to showcase your advocacies and company culture. The visibility that social media provides allows you to reach and attract your target applicants.

8. Foster a positive work environment

Attract young and talented accountants with a positive company culture that focuses on teamwork, recognition, and a work-life balance.

Showcase these through your company’s social media profiles. Use videos and photos of your events, parties, town halls, or a feature of the day in the life of an employee.

These show a different side of your organization and create a positive vibe around it. What happens behind the scenes is just as important as what goes on in front of the camera.

Create an environment that makes your employees feel supported and engaged in their work.

9. Utilize referral programs

You don’t have to go far to find brand ambassadors. Your own employees can do the recruiting for you.

Create a referral program that provides incentives for successfully hired applicants. The incentives can be cash, a product, discounts for services, and others.

Referrals from your employees increase the likelihood of finding the right person who fits into your organization’s culture.

Successfully employ young and talented accountants

These are the best practices you can implement to attract young talent to join your company. These strategies can improve your recruitment drive and reduce your turnover rate.