The Great Resignation

a pair of pensive people

Are ‘Strong Leadership, Agile Working, and a People-Centric Value Proposition’ on Your List of Must Haves at Work?

UK businesses within the accounting industry are understaffed by 22% and leaders everywhere are busy telling each other the things accounting professionals — particularly the younger generation — are hungry for at work. Fewer hours? Better money? Not getting scammed out of accrued PTO with a switch to “unlimited” vacation? NAH. What we really need […]

a kitten playing with money

New Hires Are Making Absolutely Wild Demands Like Decent Salaries and Remote Work, Says Guy

Fresh off the ole tweet machine today we have this: New hires in accounting with 0 exp are demanding: – $80k-$100k – Remote work – 30 hours a week – Client contact / advisory roles This is unsustainable. What does the future of U.S. talent strategy look like? — Brandon Hall (@bhallcpa) July 8, 2022 […]

stack of 100s

The Talent Crunch is So Bad Firms You’ve Never Heard of Are Offering $7000 Referral Bonuses

LaPorte who? Well now you’ve heard of them. From New Orleans City Business: “Just like every other company and industry, we have felt the effects of the ‘Great Resignation,’” said Patty Paz, chief operating officer at LaPorte CPAs & Business Advisors. “We have worked hard over the last two years to put in place several […]

a man buried in paper holding an I Quit sign

Being Home During Lockdown Shifted Accountants’ Priorities, Says Lady

Kristy Illuzzi, CPA, CGMA of International Federation of Accountants (IFAC) on why the Great Resignation is affecting the profession so acutely: I think the Great Resignation is interesting in that it has impacted almost every sector of our economy and every profession in some way, and it’s no different in the accounting industry. I think […]

The Audit Profession’s Inability to Retain Talent Poses a Serious Threat to Audit Quality

Just about every employer in corporate America is singing the blues about talent shortages caused by the Great Reset and the Great Resignation. However, these effects are not being felt uniformly across all businesses. Those employers with a history of mismanaging their human capital, like the largest audit firms, are being hit the hardest. The […]

Alliantgroup Is Considering Retention Bonuses to Keep People From Fleeing (UPDATE)

[Update at the bottom of article originally posted on May 31.] Much like at the biggest public accounting firms in the US, the Great Resignation has hit Alliantgroup hard over the last year or two, as employees have left the House of Jadav for greener pastures, more money, and a less toxic work environment. And […]

"peace out" in magnetic poetry

If You’re Quitting Public Accounting Try Not to Burn Bridges on Your Way Out In Case You Need to Come Crawling Back

A few months ago business sections across .coms everywhere were getting blown up with articles about “the boomerang,” an imaginary trend whereupon corporate quitters discover the grass is not in fact greener on the other side and come crawling back to their former employers. Like this March piece from Forbes: According to experts like Anthony […]

the word goodbye in plain letters

It’s Official, the Only Way to Get a Decent Raise Is by Leaving Your Firm

As public accountants pull the ripcord and bail out from their firms in droves for the greener grass of industry, government, and even the blissful quiet of unemployment so they can figure out what they really want to do with their lives there’s a lot of talk about the abandoned workloads being dumped on the […]

Former EY Consultant Won LinkedIn Today

Remember last week when EY tried to convince all of us that employees prefer empathetic leadership over raises and promotions? LOL, good one EY. Anyway, Brandon Hall, founder and managing partner of Hall CPA in Raleigh, NC, who was a senior consultant with EY earlier in his career, knew the empathy-over-raises social media post from […]

a happy man smiling

The Thing Workers Want Most Is Not Better Pay But Empathetic Employers Says Employer Unwilling to Pay You More

Yesterday I came across this screenshot while combing Reddit one hour after my weekly newsletter column was due as I often do on Tuesday afternoons when I’m procrastinating. At first I thought there’s no way this is real. I mean, it’s on the internet so obviously it’s real but … really? Oh, it’s real y’all. […]

Bonus Watch ’22: Deloitte Tax Tries to Lock In Seniors and Managers For Two More Years By Dangling Retention Bonus

Another Deloitte practice is tempting its seniors and managers with a one-time lump-sum payment to try and keep them around a little while longer. A tipster told us: Seniors and managers in Deloitte Tax are eligible for a $20k retention bonus. They would have to pay it back if they leave before 2 years. Payouts […]

a man in a suit pointing

If Y’all Keep Quitting Your Jobs Like This You’re Going to Break the Economy

Before we get into the meat and potatoes of this article on Bloomberg Tax, I just want to call out the photo they used for the header. “Paraphernalia” got a chuckle out of me. OK so everyone and your mother knows by now that public accounting firms are struggling with a talent shortage. Regardless of […]

Some BKD Campus Recruiters Are Making the Great Escape

By now we are well-aware of the growing dissatisfaction among client-facing grunts at public accounting firms, many of whom are doing the jobs of two or more people this busy season as already understaffed teams become more depleted by the day due to people leaving their firms for greener pastures. But we haven’t heard much […]

Congratulations, Public Accountants, the Reality of Your Miserable Career Made the Mainstream

This year will mark 15 long, boring, excruciating years I have spent circling the periphery of the accounting industry like a vulture waiting for a warm body to drop so I can get a nice carcass to gnaw on. Don’t get me wrong, I love it here. It’s not where I thought I’d end up […]

This Probably Didn’t Go Over Too Well With Many Grunts At EY

“I was just talking to our team in terms of the importance of people, the importance of being empathetic, the importance of making sure that we’re taking care of our people. And, you know, we talk to our clients about this all the time. We’ve actually hired 115,000 people in the last year, but we’ve […]

Bonus Watch ’21: Deloitte’s Audit Practice Is Trying to Nip This ‘Great Resignation’ Thing In the Bud By Offering Retention Bonuses

There’s a firm that finally gets it when it comes to giving employees of one of its core lines of service a reason not to join the mass exodus that is going on right now in the Big 4. It’s not promoting some fictitiously great company culture. It’s not giving employees Omaha Steaks or 1-800-Flowers […]

TIL There’s Something Called ‘Turnover Contagion’ and It’s Probably Happening At Your Firm Right Now

We here at Going Concern have never been enthusiastic fans of buzzwords. Whether they’re cluttering up your LinkedIn profile or awkwardly littering a Big 4 Twitter account, our tolerance level for buzzwords is a steady nil at all times. That intolerance may be changing now as we continue the journey forward into the accelerating Great […]

More People Quit Their Jobs In April Than Ever In Recorded History

Have you heard? They’re calling it “The Great Resignation.” Gee, if only there were a way to get people to stay! Guess they’ll have to bring in some consultants to tell them this is millennials’ fault somehow and can easily be fixed with a few recycling bins and Jeans Friday.