Do your Trust Accountants keep leaving for greener pastures?
Might be time to look within your own paddock.
Good Trust Accountants are like those tiny little nuggets of gold.
Rare.
Once you find one, you pop it in your pocket and keep it forever.
Yes, that sounds a little stalker-y, yet, it’s kinda true.
Trust Accountants keep the wheels turning in the background of your business. The success of any Agency would not be possible without them.
So, if you are finding your Trust Accountants are turning over more regularly than you like, it might be time to understand why.
Top 3 reasons why Trust Accountants leave the jobs
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They are undervalued and underpaid
No one likes being undermined in the work that they do.
Does your Trust Accountant deliver their work to the highest of standards?
Are they increasing the value of your business?
Are they saving time (and money) in other areas? If the answer is yes, be sure to compensate them commensurately.
Sometimes it is all the difference it makes between staying and going.
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They are left out of the team
Teamwork makes the dream work. Corny but true.
As a Trust Accountant’s role revolves around crunching numbers, they can often be left out of agency-wide, business development discussions.
Bring them into the fold. Inclusion. You might be surprised with the impact and bright ideas they can bring to the table.
You could have a hidden marketing wonder u your sleeve and you don’t even know it.
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They are under-trained
Quite often, Trust Accountants are not properly qualified for their role by no fault of their own. They may be introduced to the role from another part of the agency, or just not have any direct trust accounting experience.
Enrol your Trust Accountant in relevant courses, short courses, webinars, conferences or other events that can be a learning experience and add to their Professional Development. Make this an ongoing part of their role, not just a once-off.
Legislation is constantly changing so they need the time and ability to keep up with the latest changes.
Hopefully, by instilling some, if not all, of these tips, you can work on retaining your Trust Accountant to stick by you through thick and thin – til death do you part!
Jane Morgan is the Director of End of Month Angels, a consultancy firm specialising in Trust Accounting. Jane knows the legislative requirements of running a successful Real Estate office through her 25 years’ industry experience. Don’t trust just anyone with your trust accounting. Book an appointment with an End of Month Angel today.