Talent is the lifeblood of any company. In the current competitive environment, CPA firms face plenty of challenges to not only attain the status of an Employer of Choice but more importantly, to sustain that designation. “Being an employer of choice is as much a benefit to the company as it is to its employees,” said Tara Wolckenhauer, ADP’s vice president of human resources – global strategy and planning.

Why is this so critical? Most firm leaders can tell you the profession is already in a war for talent, but the war is expected to head into a full-blown crisis within the next 15 years. As ADP’s ebook on the Evolution of Work noted:

Forward-thinking firms don’t just need to fill positions. To provide high-value advisory services to their clients, not just highly-commoditized tax and audit compliance work, firms need to attract and retain experienced employees that are well-equipped to work with changing technology with analytics to make informed decisions.

How will organizations attract and retain quality talent? The strategic advantage occurs when they prioritize five crucial areas.