A new research study offers a detailed look at how CPAs experience employee turnover in public accounting and why those experiences continue to matter long after someone leaves a firm.

The study, from Contemporary Accounting Research, draws on survey responses from CPAs working in audit, tax, and consulting roles across both Big Four and non-Big Four firms, capturing perspectives from those who left public accounting as well as those who stayed. 

Forbes reports that the findings suggest that turnover is rarely sudden. Many leavers reported spending months considering their decision and discussing it with coworkers, mentors, or supervisors before ultimately exiting.

Stayers, meanwhile often observed warning signs well in advance, including changes in personality or declines in work quality, indicating that firms frequently have opportunities to intervene before an employee departs. 

Work-life balance emerged as a central issue. As Nancy Harp, one of the study’s authors noted, “Poor work-life balance is a primary factor influencing the decision to leave. Firms must offer genuine improvements if they want people to stay.” She added that departing employees are skeptical of vague assurances, making credibility and follow-through essential for retention efforts. 

The research also highlights the long-term business implications of how firms manage exits. Negative experiences during the departure process, such as a poor relationship with a supervisor, not only accelerate turnover but also reduce the likelihood that former employees will recommend their prior firm for future work.

Harp summarized the takeaway succinctly, saying, “Our findings suggest that firms should take a ‘lifetime’ view of employees,” emphasizing that treatment during the exit phase can shape alumni relationships, referrals, and reputation for years to come.