The rate of information technology change remains high. The rates of adoption and digestion of new information technologies by a broad cross-section of employers remains high. While the demand for trained accountants is predicted to remain strong, the demand for information technology workers is predicted to be stronger. Because the pool of accounting students will shrink, profitable and opportunistic employers will continue to headhunt staff from less profitable or less savvy employers. While there are no silver bullets that will guarantee a win in a recruiting and retention war, there are a number of proven strategies that can help win the skirmishes.
Competitive compensation is a necessary condition for success in recruiting and retention.
Ultimately, there is no way to overcome the disadvantages of below market compensation. To retain good employees, work to create a culture of respect. Competitive compensation is not a sufficient condition for success in retention. When supervisors are trained to treat subordinates with respect and are given the incentives to induce to good behavior, subordinates need very good reasons to leave. Conversely, the evidence is clear that abrasive and abusive supervisors can be very costly because they drive out good employees.