Chartered accountants practicing in the Middle East have a strong reputation for their quality of service as well as being achievement motivated. With the vast opportunities available to top CAs across varying industry sectors, Robert Walters provides some advice on how to retain them in your organisation.
"Ensuring that your staff feel valued and that they have the chance to develop their career with your organisation is key to retaining these professionals," comments Jason Grundy, Country Head, Middle East.
Growth and development is a key motivator for chartered accountants, looking to upskill and continually learn. Providing access to development programmes is just one of the ways to motivate your CAs, providing a sense of depth to their role and opportunities for progression in their career.
It is also crucial that you act as a professional development partner to your CA, making sure to provide them with a performance plan which will help keep them engaged and motivated toward reaching predefined timelines. This will give them a sense of security in their career path and it will most likely be a strong motivator toward their level of performance.
Ensuring that your staff feel valued and that they have the chance to develop their career with your organisation is key to retaining these professionals
When setting goals with your CA make sure you are proactive about it, assessing their progress and motivating them at different stages along the way. Make sure that expectations are clear and that they have a firm understanding of what they should achieve as well as what the job entails. If the deliverables are well-defined and achievable, then this should make all the difference.
Outside of this, you will also need to ensure that you follow up and conduct regular one-on-one appraisals to provide feedback and advice. Appraisals are also crucial to give your CA the opportunity to voice any concerns surrounding their development. Remember that each of these challenges should be given a specific timeframe to be rectified, whether it be monthly, quarterly or yearly.
Ensuring there is an open and honest relationship between yourself and your CA is vital. Make sure to encourage open communication wherever possible so that they have a clear understanding of differing responsibilities and challenges being faced by the business as well as the part they play in this working relationship. Similarly, you will also want to make sure they feel there is an adequate opportunity to ask questions and to provide suggestions where they feel necessary. This will be integral to ensuring they feel connected to not only the team but the wider business.
In the name of competition, you will also need to keep a close eye on salaries across the market, adjusting these accordingly if need be. If employees feel they are receiving fair pay within the market then they are much more likely to be engaged at work and willing to stay.
Alongside development plans, you will also need to ensure that you have competitive performance bonus schemes available with realistic and achievable KPIs. Make sure to keep expectations steady and ensure that good performance is reliably rewarded. If this is done correctly, it is a fantastic way to motivate and retain staff. Additionally, you can also look to offer annual raises to ensure employees stay working with you for longer.
The opportunity of working flexible working hours is often viewed as a significant perk amongst prospective and existing employees. Similarly, flexible working hours can also provide that added incentive to help you retain and hire the very best CAs in the marketplace.
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