The top 5 reasons young talent leaves firms, especially accounting firms:
1. Lack of opportunity to develop in their chosen profession or to make them more marketable
2. Constantly working on mundane or routine projects/Using outdated technology
3. Lack of connection with direct supervisor/boss
4. Little or no career development within the organization. Young people want to know their career trajectory
5. Little connection to work/life balance. Millennials really want to be able to balance their work and outside of work lives. They know how to do it and are constantly connected. Let them leverage that knowledge.
What can firms do to stem the tide?
1. Ensure that front line managers and leaders understand how to interact with and develop young staff
2. Ensure there is a connection between the work that the employee is doing and the success of the business or its importance to the customer's success
3. Allow younger employees to research new ways to get things done. Give them the opportunity to present their business cases and gather feedback. Implement smart ideas!
4. Develop (or highlight) career paths within the organization. Make sure that everyone is clear about how they can progress within the organization AND the steps they need to take to get there.
5. Make new employees feel part of the team right away. Get them involved in projects and client work immediately. They are going to stumble at first, but the best way for them to learn (and start to enjoy) is to do it!