Does size matter?

Would you say bigger is better?

It’s an important question to ask yourself as you plan your career in Finance. Do you want to work for a smaller company where you might get noticed and developed quickly? Or do you want the advantages that come with working for one of the big names?

Changes in the Big 4 mean you may not have to make that choice.

Skills shortages have forced the Big 4 to recognise that people really are their biggest asset. People management, development and retention are top of their agenda according to a report from The Economist.

Spotting talented employees early on and persuading them to stay for longer is the new focus as companies plan for the future. The danger point for employers comes after three years once people are certified as Accountants and start looking to move on. Research has suggested that most who leave after this time would like to return and wish they had stayed on longer.

Even after employees have moved on there are programmes in place to keep in touch. Helping people leave on good terms allows them to return to the company later on. In a time of skills shortages and job-hopping the loyalty of staff is increasingly important.

So how is the Big 4 persuading you to stay?

Deloitte:

• Global development program – allowing employees to spend up to 3 years abroad early on in their careers.
• Priorities for 2010 business plan include: improving scores in annual staff survey; increasing proportion of female Partners; assessing Partners as managers of people not just the amount of money they bring in.

Ernst & Young:

• Partners have spent years identifying specific skills needed for different roles so staff can easily plan a route to develop their career.
• Electronically delivered training services allow people greater control over their development.

KPMG:

• Time codes to account for how long senior staff spends on employee matters. These count towards pay rises and promotion.
• Compass – a programme that identifies 11 milestones on the path to Senior Partner allowing you to plan a development path.
• Career breaks which won’t affect chances for promotion.
• Mentoring of junior staff by Partners from another function to allow greater insight into different areas.

PricewaterhouseCooper:

• Run programs, such as Genesis Park, which take promising employees out of work for five months and train them for Partner level roles.

This level of talent management may be beyond the resources of most firms but the principles could be applied on a smaller scale. Making people management a measurable target for senior staff, offering more flexible career paths and giving people a way back to the company all give skilled employees a reason to stay.

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Still I will go for bigger is better.