Internal Audit Leaders: Are You Overlooking This Valuable Retention Tool?

The current unemployment rate for auditors is below 3 percent, according to the U.S. Bureau of Labor Statistics, and with the improved job market, internal audit leaders need to tap every resource available to retain their star employees. One powerful – though sometimes overlooked – tool every manager should use is the career path discussion.

In a survey from our company, 85 percent of workers interviewed said knowing their career path is an important part of their job satisfaction. Working with your team members to develop career road maps gives them objectives to target and shows you are invested in their professional development. They’ll see a future with your organization, identify specific steps they need to take to move up and know their contributions are valued.

Conversely, if employees feel their work is unappreciated or their advancement potential limited, they may look for greener pastures. These conversations don’t have to be complicated, but firms that fail to hold and act on them risk watching their top performers walk out the door.

To help internal audit leaders conduct these discussions, Robert Half and The Institute of Internal Auditors (The IIA) will be hosting a webinar, “Show Them the Way: Using Employee Career Paths to Build, Improve and Retain Your Internal Audit Team,” Thursday, Sept. 25.

The event will feature insights from industry experts Paul McDonald, Robert Half senior executive director, and Larry Harrington, CIA, QIAL, CRMA, senior vice chairman of The IIA and vice president of internal audit at Raytheon Company. The session qualifies for one unit of continuing professional education credit.

Click here for more information or to register.