The Current Landscape of Graduate Recruitment: Retention Challenges in the Professional Sphere

In recent weeks, we’ve seen a troubling trend in our firm: two more recent graduates have tendered their resignations immediately after achieving their ACA qualifications. To date, this marks five departures within this quarter alone, all opting for roles in the industry that offer more competitive salaries and benefits.

This observation raises a significant concern: are we effectively nurturing talent only to have them lured away by corporates? Despite our efforts to revamp our retention strategies, it often feels as though we’re fighting an uphill battle. The salary increments we offer simply don’t measure up to those available in the broader market. During last week’s partners meeting, it felt as though we were collectively ignoring this reality.

I’m curious about the approaches other firms are implementing. Are you successfully retaining your newly qualified professionals, or are we all navigating a similar struggle? We’ve experimented with the typical incentives—pizza lunches, recreational activities like table football, and promises of rapid progression—but I genuinely believe the core issue lies in our work expectations. During peak seasons, we tend to overwork our staff and then expect unwavering loyalty in return.

Reflecting on the past, I realize I might be showing signs of age; in my earlier years, we dedicated ourselves for five to six years before considering a career change. The current generation, however, appears to prioritize work/life balance much more than we did. Given the workload we impose, I can hardly blame them for seeking a healthier balance elsewhere.

As we move forward, it may be crucial to reassess our approach, not only to retain our emerging talent but to foster an environment that aligns with their expectations and values.