What's Happening?
The 2025 Accounting MOVE Project Report has identified 'belonging' as a crucial factor in employee retention within accounting firms. According to the report, 63% of firms cite burnout as the primary reason
for employee turnover. The report emphasizes that belonging is not just a soft concept but a vital business strategy for attracting and retaining talent. Bonnie Buol Ruszczyk, president of the Accounting MOVE Project, noted that feelings of exclusion can significantly impact employee confidence and participation. The report also highlights the importance of parental leave, with 68% of firms offering extended leave equally to both mothers and fathers. However, only 17% of firms track the number of employees who are working parents. Additionally, the report reveals that only 32% of firms analyze pay equity by ethnicity, and only 19% train managers on fair pay practices, a decrease from the previous year.
Why It's Important?
The findings of the Accounting MOVE Project underscore the importance of fostering a sense of belonging in the workplace to combat employee burnout and turnover. By prioritizing belonging, firms can enhance employee satisfaction and retention, which is crucial in a competitive job market. The report suggests that firms need to reimagine support structures, such as offering sabbaticals and separate sick time, to accommodate the complexities of caregiving. Furthermore, addressing pay equity and providing clear pathways for career advancement are essential for creating an inclusive work environment. Firms that fail to implement these strategies risk losing valuable talent and facing operational disruptions.
What's Next?
Firms are likely to reassess their policies and practices to better support employee belonging and retention. This may include expanding parental leave policies, conducting regular pay equity reviews, and providing explicit competencies for career advancement. As firms strive to create more inclusive environments, they may also invest in training managers to identify high-potential employees and offer career coaching for alternative partnership tracks. These steps could lead to improved employee satisfaction and reduced turnover rates.
Beyond the Headlines
The emphasis on belonging in the workplace reflects broader societal shifts towards inclusivity and diversity. As firms adopt these practices, they may contribute to changing cultural norms around work-life balance and equity. The report's findings could also influence public policy discussions on parental leave and pay equity, prompting legislative changes that support working families and promote fair compensation practices.
