EOC Strategy

Team Sum-It of LTMI Ltd148 St. George’s Terrace, PerthWestern Australia, 6230

Industry, Sector and Background

Accounting and Financial Services Provider 20 Years of experience A ‘Big 5’ International Firm Amalgamation of 4 large Australian Firms Head office in Perth’s CBD Regional office in Bunbury servicing the South

West areas of WA

Team Sum-It

30 June 2007 Statistics 167 National and International offices Represented by 131 countries 153 000 Employees Employee qualifications range:

Administration and reception IT Specialists Junior and Senior Accountants CPA’s & CA’s Auditors Management Consultants Taxation Consultants Managers Executives Directors CEO’s

Team Sum-It

28 February 2010 Statistics 131 500 Employees 14% Lower than that of 30 June 2007 3% Due to directly recruiting of employees by competitors

i.e. 645 employees

Source: LTMI Ltd, 2010

Team Sum-It

Perth Head Office Statistics

30 June 2007: 750 employees 28 February 2010: 660 Employees

Source: LTMI Ltd, 2010

Team Sum-It

A 4-Year Plan for Perth

Team Sum-It

How is this achievable?

First implementation at the Perth HQ in July 2010 First assessment in January 2011 Implemented nation wide Second assessment in June 2011 Implemented internationally Corrective control measures implemented

Team Sum-It

Measuring Performance

Bi-annual evaluations i.e. every 6 months Employees complete questionnaires Financial Statements prepared according to

the:Triple Bottom LineBalanced Scorecard

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Informing our Employees

Meetings E-mail Corporate events www.LTMI.com.au

Team Sum-It

Source: Google Images, 2010

What is an ‘Employer of Choice?’

Attract, retain and motivate staff (South Australia Biz, n.d.)

Attract, optimize and hold exceptional talent and achieve its corporate objective

A great place to work, employees dedicate themselves to the corporate success (Linnergy, 2004)

Competitive edge (Linnergy, 2004)

INTE

RNAL

EXTE

RNAL

HELPFUL HARMFUL

• Universal

• Ongoing demand of service

• Highly popular professional career choice with personal promotion and prospects for international travel

• Highly regulated

• Highly professional conducts

• Negative stereotypes of people within this industry

• Possibility of tax evasion, fraud and corruption within entities

• Room for expansion and international growth

• Opportunity for new prospective clients

• Huge demand = continual search for the best talent

• Great deal of competition

• Mining boom

• Politics

• Deregulation

SWOT Analysis

EOC Vision

“We’ve got what you wantWe’ve got what you need

Do you have what it takes?”

Source: Google Images, 2010

Team Sum-It

What attracts top GRADUATES?

‘Competition is tough for the top university

students every year, and as the talent shortage

continues to bite, companies need to take a

smarter approach to attracting and retaining such

graduates’ (O’Carroll, 2010, para 1).

Team Sum-It GRADUATES

EOC Strategies Support and partner with various universities Provide opportunities for vocational work Undergraduate employment opportunities

RSM Bird Cameron, 2010 Attracting the top 5 % of graduates

McFadden, 2010 Competitive graduate employment packages

Bavendam Research, n.d.

Team Sum-It GRADUATES

Source: Google Images, 2010

EOC Strategies Support of postgraduate studies as CPA & CA

RSM Bird Cameron Rotating graduate positions

Capperella, 2010 Bavendam Research, n.d.

Developing clientele RSM Bird Cameron

Implementing a mentor program Keller, 2009

Encourage an inclusive environment Performance evaluations

Team Sum-It GRADUATES

Source: Google Images, 2010

Attracting SKILLED Employees

Who are the “SKILLED” employees? Accreditations – CPA, CA designations Experience – industry-specific or software/technology

knowledge

Team Sum-It SKILLED Employees

Source: Google Images, 2010

“If two candidates interviewing for an accounting/finance position had similar skills, which one of the following additional qualifications would

you find most valuable?” (Half, 2007)

Industry-specific experience 55%

Software/technology knowledge 24%

Certification or advanced degree

13%

Multilingual skills 2%

Personality/people skills 2%

International experience 4%

Source: Robert Half survey of 270 CFOs

Team Sum-It SKILLED Employees

EOC Strategies

Work with a recruitment firm

Offer sought-after benefits

& incentives

Emphasize opportunities

forcareer growth

Employee recognition

program

Emphasize on beinga community-focus

organisation

SKILLED EmployeesTeam Sum-It

Source: Google Images, 2010

Why is retention important?

Human resources are the most valuable asset

Employees have choices

Reduce costs

RETAINING EmployeesTeam Sum-It

Why people leave accounting firms?

Boring and unchallenging work (S. Krugman, 2000)

Long hours & huge work load (R.Keller, 2009)

Team Sum-It RETAINING Employees

Source: Google Images, 2010

Why people leave accounting firms?

Uncaring and unsupportive environment (Philips & Edwards, 2008, p37)

Imbalance between work and life (Philips & Edwards, 2008, p37)

Team Sum-It RETAINING Employees

EOC Strategies

Keep employees happy Recognition & reward program Flexibility A fair work/life balance Good managers in place Challenging workplace

Team Sum-It RETAINING Employees

Source: Google Images, 2010

Mentor Program Semi-retired professionals Wealth of knowledge Years of experience Relay on and impart the knowledge

to our younger graduates and employees

Team Sum-It RETIRED Employees

Source: Google Images, 2010

We want to attract and retain highly educates, skilled and qualified professionals that:

“Know what they wantKnow what they need

And have what it takes”

Team Sum-It

LTMI Ltd: Team Sum-It