Improving Current Recruitment Practices for Retention of Millennials Accountants in Ireland

Abstract

The main aim of this dissertation was to improve the current recruitment practices and improve retention of millennial accountants in Ireland focusing on organizational context factors. The main elements of improving recruitment practices were identified as company context factors including culture, workplace policies and leadership style. The objectives of the study included, firstly to assess how significantly recruitment practices affect retention of millennial accountants, findings revealed that there was a significant effect on millennial talent. Positive and negative experiences of candidates, including adequate feedback, strategic leaders and showcasing company culture and policies during the recruitment process greatly impacted retention, secondly, to explore millennial accountants perception of the organisational context factors, findings highlighted the varying perception of these context factors which again were linked to positive experiences and workplace. Thirdly, to assess the relationship between company context factors and millennial accounts values, findings showed a staunch alignment between both existed. Lastly, to Identify measures to improve recruitment practices & retention strategies based on the perception of organizational context factors, Improving recruitment practices included ensuring positive experiences during recruitment process. For retention, company’s should implement innovative and technological advancements, provide more support financially due to the current cost of living crises, allow flexibility, and hire more people to cut down on workload to enhance retention.The research used the interpretivist paradigm focusing on thematic analysis which necessitated the use of semi-structured interviews as the data collection method. Eight semi-structured interviews on millennial accountants from diverse cultural background in the Irish accounting sector due to the diversity of the country and sector. No big 4 company employee was interviewed as major focus was on the local Irish demographic. The findings generated from the study helped to understand that millennial candidate positive experience had a direct effect on their decision to accept job offers, that organizational context factors influenced recruitment and retention of millennial talent and the measures through which recruitment and retention could be improved for these accounting company’s. The implications of the findings generated are explained, research limitations are identified and recommendations for future research and practice we adequately given.