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CCH Whitepaper on Recruiting, Retaining Young CPAs Can Help Firms Win the Battle for Talent
Young Professionals Provide Insight on What’s Important to Them, How Firms are Matching Up
(RIVERWOODS, ILL., March 29, 2007) – CCH’s new whitepaper, Recruiting and Keeping Up-and-coming CPAs at Your Firm, provides first-hand insight into what’s important to young accounting professionals in the workplace today, how firms are measuring up and what firms can do to recruit and retain top talent. CCH, a Wolters Kluwer business is a leading provider of tax information, software and services (CCHGroup.com).
With more demands on the accounting profession than ever before, and a shrinking supply of professionals to get the job done, firms need to ensure they are doing all they can to win the talent wars.
The whitepaper is based on the findings of the CCH Young Accounting Professionals Survey, which examined the benefits, tools, technology and culture that CPAs with four to seven years of experience want most and asked them to rate how well their firms were meeting these needs. In nearly every instance, fewer than one-half of firms received a very good rating on their ability to deliver on the attributes most important to up-and-coming professionals.
“Young CPAs are a very important asset to firms that want to grow their business. These individuals have the base experience and are eager to move into the more challenging positions that are being created as baby boomers retire and as new demands on the profession develop,” said Mike Sabbatis, CCH President.
“We also know that young CPAs today are evaluating their options and asking themselves: Should I stay at the firm I’m with, move to another firm, move into corporate work or move into an adjacent field?,” said Sabbatis. “Clearly, firms have a lot of competition and they have to make certain they’re doing all they can to both recruit and retain valued employees.”
The CCH Survey found that overall young CPAs want the tools they need to get their jobs done; they want to be rewarded for their performance; and, while they want to be challenged, they also want balance between work and personal life.
“Many young professionals feel their firms should pay more attention in delivering on these,” said Sabbatis. “In an environment where the future growth and even survival of the firm relies on attracting and retaining young CPAs in a highly competitive job market, firms must take action now to see what they can do and who they can partner with to help deliver on these expectations.”
About the Survey
The CCH Young Accounting Professionals Survey included telephone interviews with 150 CPAs with four to seven years of experience as a CPA in a U.S. firm. The interviews were conducted by Harris Interactive (www.harrisinteractive.com), a leading global market research and consulting firm. The survey reflects experiences of randomly polled accounting firms ranging in size from firms with fewer than five practitioners to those with more than 100 employees.
For More Information
The CCH whitepaper, Recruiting and Keeping Up-and-coming CPAs at Your Firm, is available upon request at CCHGroup.com/survey.
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (CCHGroup.com) is a leading provider of tax and accounting law information, software and services. It has served tax, accounting and business professionals and their clients since 1913. Among its market-leading products are The ProSystem fx® Office, CCH® Tax Research NetWork™, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2006) of €3.7 billion, employs approximately 19,900 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.
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