Benefits February 7, 2007

New CPAs Say Growth is Number One Employment Factor

February 7, 2007 (PLANSPONSOR.com) - The majority of new CPA professionals cite the chance to advance within a firm as the number one motivator behind joining an organization, according to a new survey.
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SmartPros reports the Top Talent Study conducted by the Private Companies Practice Section of the American Institute of Certified Public Accountants (AICPA) found 80% of young professionals named growth as the top employment factor, although 93% of CPA firm partners surveyed said salary would rank first.

The survey results showed paid personal/vacation time, salary, respect for the company mission statement, and interesting and challenging projects rounded out the top five reasons new talent joins a firm, according to SmartPros. In contrast, following salary, partners felt new recruits joined their firms for medical benefits, paid personal/vacation time, growth opportunities and paid overtime.

As for retention factors, both new professionals and firm partners listed four of the same top five reasons CPAs choose to stay with a firm: respect for the company’s mission statement, career growth opportunities, salary, and interesting and challenging projects.

SmartPros announced that both members and non-members can purchase AICPA’s new guide, “Gaining a Strategic Advantage in Recruiting and Retention,” which contains the survey results and solutions for staff hiring and retention. More information can be found at www.aicpa.org/pcps .

The survey results were based on responses from 645 partners and 646 young professionals from 600 firms during the spring of 2006.

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