Most CPA firms lack formal staffing programs; guidance offered for smaller firms.

While attracting and retaining staff remains the biggest challenge they face, few CPA firms have formal, documented programs that would help them achieve this goal, according to a recent survey by the AICPA's Private Companies Practice Section. The survey results appear in a new white paper published by PCPS, Best Practices in Recruiting and Retaining Talented Staff which addresses the issue by including recommended guidance for specific aspects of recruiting and retention.

The survey, conducted among 500 CPA firms, asked firms whether they have put in place documented programs to address such issues as leadership development, generational differences and compensation alternatives for those not on the partner track. The survey also asked about business development programs for partners and managers and whether the firm had aligned its compensation policies with its strategic initiatives. Large majorities...