As the competition for skilled accounting and finance employees intensifies, organizations are taking steps to keep top employees currently on their teams. Following are some tips that can help enhance retention efforts:

• Communicate frequently. Speak with your employees about the projects they are working on as well as the types of initiatives they’d like to be involved with. Make adjustments as appropriate.
  
• Recognize employee achievements. Praise your team for their accomplishments. Complimenting employees during staff meetings and writing sincere thank-you notes are effective ways to demonstrate you value their contributions.
  
• Help your staff avoid burnout. Often, the most talented and ambitious people take on the most work and are the least likely to speak up if they feel overburdened. Adjust individual workloads as needed.
  
• Keep compensation competitive. While salary typically is not the deciding factor in whether employees stay or leave, it is important. Companies that do not pay competitively risk losing their best people, resulting in increased hiring and training costs and lost productivity.
  
• Start from within. A Robert Half International survey found that 60 percent of companies are promoting from within more often now than they were three years ago. Businesses that help personnel advance demonstrate to employees that their contributions are rewarded, which can be a tremendous tool for motivating and retaining top talent.