Yesterday, we hosted our Q2 event led Sue Urey, Executive Director at MorganFranklin Consulting. Sue, in conversation with SOX Pro's Executive Director @Grant Ostler, discussed strategies to recruit and retain qualified audit talent. If you missed the event, you're in luck. The session has been recorded and you can watch the presentation here.
The top takeaways from the event were:
- Challenges with finding audit staff: Internal audit teams are facing increasing pressure from executive management and audit committees to provide greater strategic value in addition to the compliance assurance they already provide. Coupling this with growing external pressures, such as economic uncertainties and industry disruptions, means the skillset an auditor needs to be successful has rapidly grown. Now more than ever, companies need a strategic plan to hire and develop audit talent to maintain qualified teams.
- How to attract qualified staff: It doesn't take a large budget to develop a long-term plan for attracting and hiring qualified staff. A few strategies you can begin implementing today include building an internal referral network, partnering with professional associations and colleges, and developing an effective skill development program.
- Strategies to retain talent: Retaining and developing your current staff is just as important as attracting new talent, and should be an ongoing effort. High turnover can have a negative affect on teams and companies. It's important to engage current employees through a variety of efforts to ensure they feel valued. A few ways to increase employee engagement include building out a mentor/mentee program, conducting pulse surveys, and having dedicated incentive programs.
What were your top takeaways from the event? What strategies does your company employ to recruit and retain qualified staff?
Continue the conversation by replying and let us know your thoughts!
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Sydney Shein
Community Manager
SOX Pro
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