On Reducing Accounting Team Turnover

My previous Client experienced high turnover in the accounting department and needed insights to remediate this intensifying situation. First, the shortage of talent in their small town posted a hiring challenge. A recent failed implementation of a document management system added extra workload to the already overburdened team that worked around multiple independent systems. The absence of standardized processes, inadequate training and knowledge transfer, excessive overtime and lack of employee appreciation led to 200% turnover within 6 months.

The first step in stabilizing this team was to understand the associates and listen to their challenges and ideas for improvements. We retired two systems related to document management and wrote-off the loss. With input from all associates, I created a training manual inclusive of all systems for knowledge sharing. I realigned the workload, reassigned irrelevant non-accounting tasks to respective departments and eventually brought confidence, increased morale and newfound work-life balance to the department.

Careers at 8020 Consulting

We take pride in nurturing long-term relationships with our team members and our Clients. If you’re interested in joining our team of accounting and finance professionals, visit the careers section of our website to learn more about life at 8020. You can also put in an application for consideration by following the instructions at the bottom of the page:

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About Mary

Mary has more than 20 years of experience in finance and accounting in multiple industries such as entertainment, consumer products, oil & gas, legal, automotive, financial services, banking, food manufacturing, apparel and defense & military contractorship. Her expertise includes Financial Planning & Analysis, budgeting and forecasting, financial modeling, month-end close, reporting, project management of process design and re-engineering initiatives, process improvement, system implementations and change management. Prior to joining 8020 Consulting, Mary consulted and worked at Warner Bros, Disney, Honda, Toyota, BP/AMOCO, Ticketmaster/Live Nation, Nestle, The Collected Group, Physical Optics Corporation, E-Trade and City National Bank. She holds an MBA from DePaul University and a bachelor’s degree in Finance from University of Illinois at Urbana-Champaign.

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