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PROPOSAL
garciade@udmercy.edu

(313)241-2765
Created for: Deloitte
Created by: Dennys Garcia
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Table of Contents:

Page:

1. Cover Page
2. Executive Summary
3. Overview
4-6. Possible Solutions
7. Limitations
8. Conclusion
9. References
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Executive Summary
Over the past ten years, Deloitte has consistently fulfilled clients' expectations.
However, in the past year, there has been a massive increase in the lack of
accountants available to serve clients. In order to preserve the company's revenue
and profitability, we recognize that it's important for Deloitte to modify and
improve its strategies overall. By increasing work flexibility for employees and
offering career development options to employees the company can enjoy a higher
chance at being profitable due employee retention.

This proposal lays forth a strategy to solve Deloitte's shortage and turnover of
accountants that were identified in the Report.
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Overview
In an August 2021 labor report, the Bureau of

40%
Labor Statistics (BLS) revealed that 4.3 million
people had left their occupations. which
represented a departure of 242,000 more
workers than in July 2021. The quit rate for the
month was 2.9%. In August 2021, quit rates
reached 20-year record levels in the financial
activities, professional and business services,
and banking and insurance industries.The
% Of workers emphasized
COVID-19 pandemic has caused many
professionals to rethink their priorities. The BLS personal-life over their job
found that 40% of workers see themselves post-pandemic.
emphasizing their personal life over their job
moving forward. It can be noted that almost Bureau of Labor Statistics
every workplace is short staffed but I have 2021
emphasized possible solutions to this issue
within the accounting industry at Deloitte.

What can be done to remedy the situation? In this proposal we’ll address this question,
while also offering practical strategies to retaining qualified workers.
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Two Possible Solutions to Retain & Recruit Employees

01.Embrace Flexibility
Given that patterns for people have changed, and different habits have been created as
a result of the pandemic's prolonged duration, employees currently tend to value
flexibility the most once offices opened up again. Deloitte can successfully blend the
benefits of collaborative and flexible work environments moving forward. Ways to
achieve a flexible work-life balance is for Deloitte to offer remote working options. It's
not necessary for this to be a long-term remote solution, but employees will value the
increased flexibility. Which, in turn, will retain more employees at the company.

To effectively implement this Deloitte can:

Create communication protocols/tools.

o Create a communication strategy with the relocating employees that are
going to be working from home. To sustain the workflow and employee
engagement, talk about the communication tools that are necessary and
the anticipated number of in person sessions that are required each
month.

Determine scheduling.
o Develop a structure for core hours so telecommuting employees and in-
office employees have an overlapping schedule for interacting each day.

Evaluate employee’s productivity

o By using metrics and monitoring employee’s remote work, the company
will be able to determine if the switch to a remote workplace is affecting
productivity. Using software systems such as Termaid will allow
management to track employee productivity making sure they are getting
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work done at home. To keep it ethical and avoid any privacy issues,
ensure that employees are aware that this software will be used.

Plan to review and revise.

o Map a follow-up plan to discuss how the transition has been going for the
employee and for the company. Work together, ask feedback about what
can be improved.

02. Ensure Staff Sees a Future with Your

Company
While employees are placing more value on flexibility, they still want opportunities to
grow and progress in their careers. It’ll be important to blend the two moving forward.
Offering accounting employees, a greater purpose in the company by providing them
with a more holistic purpose than simply "keeping the books" will certainly offer
Deloitte a higher recruitment rate. New accountants will be drawn to a company whose
values align with their own, especially those that can help employees feel connected to
the company's bigger goals and offer employees at Deloitte a clear path to
advancement.

To do this Deloitte can:

Offer Online Career Advancement Courses

o Providing employees with the chance to take online career advancement
courses will help them develop new skills. They learn from this that both the
business and their fields of professional accounting expertise are expanding.
Their motivation to advance professionally is increased, and they can rest
easy knowing that their employer shares their commitment to employment
advancement.

Establish A Mentoring Program

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o The best decision Deloitte can make at any time to support the
development of its employees' personal and professional lives is to
establish a formal mentorship program.

Accept Feedback to Give Feedback

o Regularly give employee feedback and request it from them. Don't wait
until annual performance reviews to give feedback, these don't give the
company a chance to learn about employees’ motivations. It is simpler for
employees to discuss their own goals and areas for growth when the
managers truly ask for feedback based on their own actions and decisions.
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Limitations
It is out of our control to retain 100% of our employees, even with these new
implementations in place.

Consider How You Treat Departing Employees

In instances where employees do resign, consider whether the company can
improve the exit process for employees who resign.
• Give departing employees an extended leave of absence so they can
conveniently return if they choose to do so within 1 year or 6 months of
leaving.
• Hold celebrations for departing employees as a way of recognizing their
contributions.

By doing these, human resources can help enhance Deloitte’s reputation,

improving its chances of attracting other strong candidates or recruiting back
past employees.

Consider Virtual Learning Opportunities

Career advancement programs can be costly. Fortunately, there are virtual
learning opportunities which are much more cost effective and affordable. Even
if budgets are leaner at the moment, it’ important to note that an investment in
employee career development can deliver a strong return on investment for
Deloitte.
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Conclusion
Offering employees flexible work schedules and possibilities for professional
progression will help Deloitte retain and attract more employees, which will
enable the company to service more clients.

Upper-level management and Human Resource should implement the training

programs and align their core values with those of the employees

Core decisions made by upper-level management on how to train and equip the
workforce will drive recruitment and retention.

The proposal will yield and establish a very satisfactory return on investment.
Please get in touch with me for more details if you concur with the proposal for
a better future for everyone at Deloitte.
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References
“Quits Rate of 2.9 Percent in August 2021 an All-Time High.” U.S. Bureau of Labor Statistics.
U.S. Bureau of Labor Statistics. Accessed October 28, 2022.
https://www.bls.gov/opub/ted/2021/quits-rate-of-2-9-percent-in-august-2021-an-all-time-
high.htm.

“Table 4. Quits Levels and Rates by Industry and Region, Seasonally Adjusted - 2022 M08
Results.” U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics, October 4, 2022.
https://www.bls.gov/news.release/jolts.t04.htm.