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Dealing with high staff turnover at accounting firms

Many accounting firms, including the Big Four, are unaware of the full extent of the costs incurred when hiring a new employee. Dan Rogers, co-founder at Peakon, outlines the costs and impact of replacing staff and the implications of staff retention

The Big Four employ approximately 890,000 people across the world, almost three times the population of Iceland. High staffing numbers bring some unique challenges to these giants, but other issues are emblematic of the sector as a whole.

Peakon recently analysed the rate of employee churn within the Big Four and found it to be as high as 12% in 2016. This equates to more than 100,000 changes in personnel.

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