Alliantgroup Is Considering Retention Bonuses to Keep People From Fleeing
Much like at the biggest public accounting firms in the US, the Great Resignation has hit Alliantgroup hard over the last year or two, as employees have left the House of Jadav for greener pastures, more money, and a less toxic work environment. And now that the Houston-based national tax consulting firm is under investigation by federal authorities, more current Alliantgroup employees are planning their escape.
On May 24, the day Alliantgroup employees returned to work in Houston after being given the day off on May 23 and a half-day on May 20 following the FBI and the IRS raiding the firm’s offices that morning, one current employee told us:
Despite returning to work today, we are all pursuing employment elsewhere.
Sensing a possible mass exodus because of what happened at the company more than a week ago, a source told us on May 28 that Alliantgroup has already begun the process of offering employees retention bonuses to entice them to stick around a little longer:
They’re beginning to offer some employees retention bonuses with terms of staying over 12 months. Contracts are currently being drafted and will be handed out some time next week.
Firms offering employees retention bonuses is not unheard of during the Great Resignation, at least in public accounting. Last February Deloitte’s tax practice offered seniors and managers a one-time lump-sum payment of $20,000 if they agreed to stay with the Big 4 firm for the next two years. Those who took the money received their retention bonus in April. A similar one-time bonus was offered last October to second-years through senior managers at Deloitte & Touche, Deloitte’s audit practice. Amounts of the bonus varied by level (either $20,000 or $35,000) and were paid out on Jan. 7. Deloitters in audit who took the lump-sum payment now have to stay through the end of May 2023. In both instances (tax and audit), if Deloitte employees who took the retention bonus leave the firm before the terms of the agreement expire, they have to pay the bonus back to the firm in full.
The biggest difference between Deloitte’s and Alliantgroup’s situations is that Deloitte is not under investigation by the feds. We’ll update this article once we know how much of a retention bonus Alliantgroup is offering employees.
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