In this article, we discuss four successful succession planning strategies for attracting top talent in tax departments:
- Moving Up: We emphasize the importance of creating clear paths for upward mobility within the department. We highlight how some clients are proactively creating roles to prepare for future retirements.
- Moving Over: We describe the value of offering opportunities for tax professionals to shift their functional focus within the department. This allows for continued learning and growth.
- Moving Outside the Tax Department: We discuss how some companies are recognizing the value of placing tax team members in other areas like finance or legal, broadening their skillsets and creating valuable cross-departmental relationships.
- Moving Outside the Company: We explain that sometimes, hiring someone with the understanding that they may eventually leave for career advancement can be mutually beneficial.
We stress the importance of transparency in communicating these opportunities to potential candidates during the recruitment process. We argue that being upfront about career advancement possibilities is crucial for attracting and retaining top talent in tax departments.
Overall, we emphasize that succession planning should align with candidates' career aspirations and that companies should be prepared to discuss these opportunities concretely during the hiring process.e encourages further dialogue on addressing remote work challenges and exploring potential solutions.
