CPA Trendlines recommends tax, accounting and finance professionals should hire for long-term growth rather than cutting staff numbers. In true accountant style, the advice warns it is expensive to re-hire lost workers. And there’s a warning about letting competitors swallow up the best talent.
The same applies everywhere knowledge workers are employed.
Rule 1 – Keep recruiting. “Firms and finance departments need to focus on the bigger picture of long-term growth,” Kotler and Caslione say. And be careful about layoffs, because it’s expensive to re-hire and could be fatal if your best employees get scooped up by the competition.