This study examines the factors contributing to turnover in the accounting and finance profession in Europe and presents actionable solutions to accounting and finance leaders for effective talent retention.  Retaining top talent is critical for organizations to maintain sustainable growth and a competitive advantage as well as to achieve long-term success in a rapidly changing business world.  However, a shrinking pool of working age people coupled with shifting interest in accounting and finance careers among college graduates, is creating a talent crisis in Europe. The study found that accounting and finance professionals in Europe are leaving employers at a high rate, with a quarter of the respondents indicating that they expected to leave their current employer in the next 12 months.

While there exist cross-country differences in Europe, we found that job satisfaction, career advancement opportunities, work flexibility, employee engagement, and a sense of belonging were key contributors to whether an employee would consider leaving a job or the profession. As CFOs and other accounting and finance leaders consider talent retention as one of their top priorities, continuously reevaluating talent retention strategies in response to emerging challenges caused by rapid advancements in technology, shifts in workforce demographics, and evolving employee expectations is paramount to sustain long-term organizational growth.

Strategies employers can utilize to stem this exodus from the profession include:

  • Providing competitive compensation and benefits
  • Creating a supportive and inclusive work environment
  • Cultivating a culture of respect and recognizing outstanding performance
  • Providing professional growth and development opportunities
  • Promoting a healthy work-life balance through flexible work arrangements