Many business valuation firms are facing a crisis in terms of staffing. In his latest newsletter, John Borrowman (Borrowman Baker LLC), a recruiter who has worked exclusively in the BV profession for over 20 years, advises managers to use the “stay interview” to retain good employees. Use a “casual and conversational manner” to find out how employees are doing and whether there’s anything you can do as manager to better support them in their jobs. Borrowman offers a list of questions, such as “If you could change something about your job, what would that be?” and “What would you like to learn here?” But the important thing to do is to act on the responses you get. Otherwise, it may “put you on the road to the exit interview that you wanted to avoid in the first place,” he says. To read more of his observations, click here.

Extra: You can read about the “perfect storm” in staffing at business valuation, forensic, and litigation services (BVFLS) firms in an article in the January 2022 issue of Business Valuation Update.