Loyalty Tax & How to Fix a Broken Incentive System

In Episode 71 of the Big 4 Transparency Podcast, I discuss the concept of the loyalty tax in the accounting industry, highlighting the disparity in salaries between externally hired and internally promoted employees, and explore the implications of this trend, including the incentives for job hopping and the associated costs for firms. The conversation emphasizes the need for better employee retention strategies and effective salary benchmarking to create a more sustainable workforce environment.Check out Canopy for your firm’s practice management needs! https://www.getcanopy.com/Check out this episode on the YouTube channel: https://www.youtube.com/@Big4TransparencyGet in touch with me:Website: https://www.big4transparency.com/Newsletter: https://big4transparency.beehiiv.com/Email: [email protected]: https://twitter.com/B4TransparencyLinkedIn: https://www.linkedin.com/in/dopiscopo/