The Key to Retaining a Part-Qualified Accountant

Hiring a part-qualified accountant can be one of the smartest long-term investments your finance team makes. But holding onto them in the long run can be where many businesses fall short.

If you’re looking to hire someone who’s planning to study or is mid-study, you’re not just hiring for now. You need to acknowledge that you’re making an active investment into someone’s future. If that employee doesn’t feel valued or supported throughout their study journey, there is every chance they’ll look elsewhere before you can say “exam results”.

To help, we talked to our specialist Part-Qualified recruiters to get them to break down what really keeps a part-qualified finance team member engaged and loyal, even once they’re qualified.

Top 5 Things to Consider When Hiring a Part-Qualified Accountant

1. Recognise Their Progress

Don’t wait until someone is qualified to show your appreciation for everything they bring to the team. Offering incremental pay rises throughout their studies acknowledges their hard work and will motivate them to keep progressing. This is often the biggest driver behind why part-qualified accountants leave. If someone doesn’t see the recognition for their hard work reflected in their salary, they are more likely to get itchy feet.

2. Provide a Clear Progression Plan

What happens after they qualify? If the answer is unclear, this is a bit of a red flag when it comes to being certain whether someone will stick around. Part-qualified accountants want to know how they’ll use their qualification within your business in the long-term, so if there’s no clear next step, you risk losing them as soon as they pass their final exams.

Ask yourself: do you really need a studier in this role, or would a qualified-by-experience hire meet your needs more sustainably?

3. Offer Full Study Support

For a lot of people, a complete qualification package matters. This includes funding, time off for exams, and proper study leave when it’s needed. It’s also one of the most tangible ways to demonstrate that you’re committed to someone’s development. It’s not just about paying for their course and they’re exams – you can use study support to create a space where someone feels supported and able to succeed, which benefits both parties in the long run.

4. Think About Mentorship

Pairing your new part-qualified accountant with a mentor can transform both performance and confidence – for both of the people involved! It also means your new team member has someone they can lean on when things get tough. The ideal mentor for a studier is someone who’s done the same qualification they have – they’ll know where the pitfalls can be, and will understanding of the struggles they may come across.

A mentor can really help to bridge that gap between theory and practice, giving your part-qualified accountant real-world insight and responsibility as they grow and learn. That support benefits your business too - they become more capable, faster.

5. Make Sure to Budget for Pay Rises After Qualification

If you’ve been rewarding progress along the way, the qualification pay rise shouldn’t come as a shock. Planning ahead means that you keep your budget in check and allows you to ensure your newly qualified accountant feels properly valued when the time comes.

Be Sure of These Things Before You Hire

Before you hire a part-qualified accountant, it’s worth asking yourself a few tough questions:

• Can your business offer most of the support outlined above?
• If not all, can you adjust your package to be as competitive as possible?
• To ensure you’re being as competitive as you can be, have you benchmarked your potential package against other similar positions in the region?
• If you can’t offer those essentials, is a qualified-by-experience professional a better fit?

Making sure you and your hiring team are being honest about what you can can’t offer from the outset will prevent frustration on both sides. This is better for your business in the long run, as without this certainty, you run the risk of losing a key team member. 

Retention Ultimately Comes Down to Trust

Ultimately, retaining a part qualified accountant in your team is all about building a relationship of mutual trust and respect. When you value their effort, invest in their growth, and recognise their achievements throughout their qualification, they’re far more likely to return that loyalty long term.

Psychologically, people feel a sense of loyalty toward employers who’ve supported their journey. It’s a simple but powerful retention tool, and one that goes beyond salary.

Need advice on attracting and retaining part qualified accountants? Our finance recruitment specialists can help you structure a competitive, realistic offer that keeps top talent loyal.

Get in touch with Sewell Wallis today.