It is important for firms to do what they can to keep the best and brightest employees from leaving. The firm also can involve staff in running the firm by asking how they think it could be better managed.
Small bonuses based on staff performance are a good incentive.
Without it, a firm will not be able to keep its clients. Small CPA firms simply cannot afford to pay as much as Fortune 500 companies, consulting companies and large firms, and managers everywhere agree that it is difficult to find and keep talented young CPAs. To counter this, some CPA firms provide employee stock-ownership plans and generous benefits packages. But not all firms can afford such incentives. Studies repeatedly have shown that employees are more likely to stay with a firm that challenges them, helps them to develop their potential and recognizes their needs outside the office.