What keeps you from jumping ship? That was a question posed to a panel of young valuation analysts at NACVA’s recent Business Valuation & Financial Litigation Super Conference.

Give thanks: Right off the bat, Ryan McKeon (Doeren Mayhew) mentioned “recognition.” As anyone who took Management 101 knows, recognition should be given to deserving employees. This was true many years ago, and it still holds true, so it should not be considered passé by any means. Recognition can be given, for example, for passing a certification exam or contributing to an article, McKeon points out. And there are all sorts of ways to give employees recognition (just Google it), from a simple thank-you lunch to naming an “employee of the month.”

Other retention strategies that work according to the next-gen panel include opportunities for career growth, exposure, and promoting a work-life balance. The panel also included Todd Kutcher (Reliant Business Valuation) and Coleton Benfatti (The Red Maple Group). Karen Kaseno (The Kaseno CPA Firm APC) served as moderator.

More details on this session are in the September issue of Business Valuation Update.