To stem the turnover tide among early-career accountants, some firms have attempted to increase long-term commitment by providing data to employees. Employees who stay at least six years with their first employer are likely to earn higher pay at other firms when they do eventually leave (The Economist, 2007). Effective are retention strategies include characteristics are: (a) top management making a strong commitment that talent management is a priority for all employees; (b) assessing the efficacy of current recruiting sources; (c) expanding the list of recruiting sources; (d)
sourcing talent globally; (e) constantly monitoring labor markets worldwide; (f) establishing diversity programs; (g) establishing accountability amongst managers for retention goals; and (h) rewarding managers for improving talent retention.