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Staff retention is pivotal to the long term success and health of your business. By retaining high performing staff, firms ensure they maintain their competitive edge in today’s economic climate. The alternative is the expensive process of continually “training up” new staff to fill the gaps created by staff attrition. 

This report seeks to explore the difficulties women within the Accounting Profession encounter returning to the workforce after a career break and the drain on firms created by the loss of human capital when these staff consider it too challenging to return to their previous roles. Focusing on professional women in the field of Accounting this report suggests remedies to assist these women transition back to their chosen profession and explores the concept of who is responsible for retaining this valuable resource. 

 

Securing Your Firms Future: Women in Accounting

 MC Recruitment Solutions, the executive arm of Nine2Three Employment Solutions has recently published a White Paper titled ‘Securing Your Firms Future: Women in Accounting’. This paper has been in the pipeline for the last three years and addresses in particular, the difficulties women within the accounting profession encounter returning to the workforce after a career break, and the necessity for Accounting Firms to develop and maintain their female workers on order to be competitive into the future.

The report highlights:

The difficulties faced by women returning to work  within the accounting profession;

The importance of staff retention for accounting firms;

The economic value in maintaining women in accounting. 

 

Our research conducted over the past three years, exposed a real problem in the Accounting industry and revealed a great shortage of skilled female accountants. We spoke to thirty accounting professionals including mid tier CBD firms, suburban and regional firms as well as individual accountants.

 

Considering that Australia now produces more female graduates than male – (56% of Australian women complete a degree, compared to 41% of Australian men), Women comprise 45.6 per cent of all employees and the accounting industry is struggling with skills shortages, the solution is simple: we must maintain women in accounting and support them and their employers.

 

This report suggests remedies to assist women transition back to their chosen profession and explores the concept of engaging accounting firms in becoming aware of these issues, to avoid the potential loss of human capital and financial drain. 

 

Benefits for Firm from maintaining women in Accounting:

Increase in Employer Value Proposition

Increase in staff connectivity to business

Increased staff retention

Increase in client satisfaction

Decrease in recruitment costs

 

Benefits for Accounting Industry Bodies from maintaining women in Accounting:

Increase of industry longevity

Increase membership tenure

positioning of Industry body as a thought leader

Increased liaison with accounting firms

 

Download ‘Securing Your Firms Future: Women in Accounting’ here, to read the full report and secure your firms future.

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