Retention and attraction of people is definitely the No. 1 challenge in all professions. The accounting profession will face a crisis if it does not make significant changes in the way it practices firm management.This is demonstrated most clearly in a recent survey conducted among firms across the country that reveals that less than one-third of them reported having a strategic plan. Of those that did have a plan, approximately 50 percent shared it with managers and staff.

When asked why their firms did not have a plan, the most frequent responses were:

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