For many small accountancy firms, January already brings enough pressure without adding staff turnover into the mix. But every year, right as the deadlines stack up, a surprising number of employees decide it’s time for a change.
It’s rarely dramatic. More often it’s the steady, dependable team member quietly handing in their notice just when you need them most. And in a small practice, even one resignation can throw the whole rhythm of the firm off balance.
Why January sparks so much movement
The start of the year naturally prompts people to take stock – their health, their finances, and yes, their jobs. It’s a moment when many ask themselves:
- Am I happy here?
- Do I feel appreciated?
- Is this the right place for my future?
If someone has been feeling stretched or overlooked throughout the year, January becomes a tempting time to make a change. Recruiters know this, and job-seeking activity reliably jumps by around 20–25% in the first two weeks of the new year.
For small firms, where roles are often varied and people wear several hats, losing even one team member can be especially challenging.
The true cost of losing a team member
Replacing staff isn’t just about finding someone new. It’s the hidden impact that really stings:
- Lost billable hours
- Pressure on remaining staff
- Delayed work
- Extra time spent training
- Recruitment costs
For a small firm, the total impact of a departure can run into tens of thousands of pounds – not to mention the strain it can put on client relationships during one of the busiest parts of the year.
Why smaller firms are more vulnerable
Working in a small accountancy practice comes with many positives – close-knit teams, flexibility and the chance to grow quickly. But it also means:
- Peaks in workload hit harder
- There’s less buffer when someone is off
- Staff often juggle multiple responsibilities
- Progression paths can feel less defined
Bigger firms can offer more structured development and a wider range of support, which can be attractive. But small firms have something just as powerful: the ability to genuinely look after their people.
How employee benefits can make a real difference
A strong employee benefits package is one of the most effective ways small firms can show their team they’re valued – and it goes far beyond the traditional idea of “perks.”
Benefits send a message that your firm invests in people for the long term. Done well, they can:
1. Add meaningful value to employees’ take-home pay
Salary sacrifice schemes, savings benefits and wellbeing support can ease financial pressures without increasing salaries.
2. Reduce stress during busy periods
Access to GP appointments, mental health resources and health support helps employees stay well when work demands are high.
3. Create fairness and consistency
Benefits ensure everyone — not just senior roles — feels supported.
4. Strengthen your reputation as an employer
In a competitive market, being known as a firm that genuinely looks after its team is a major advantage.
This isn’t about trying to copy what large firms offer. It’s about giving your people practical, everyday support that makes their working lives easier.
The Key Window: October to February
If there’s one insight that small firms should take seriously, it’s this: retention issues in January usually start months earlier.
By November and December, people are tired. End-of-year deadlines pile up. Leadership teams are often focused on planning rather than day-to-day appreciation. It’s very easy for people to feel disconnected.
Introducing or refreshing employee benefits ahead of the new year can help reset that narrative – right when your team needs reassurance the most.
A simple change, communicated clearly, can give people a renewed sense of belonging and stability.
A smart move for IFA members
Members of the IFA know that people are a firm’s most valuable asset. In small practices, this is even more true. Every person plays a vital role, and when they feel supported, the entire firm performs better.
Employee benefits are one of the most cost-effective ways to create that stability. They help firms:
- Improve retention
- Support wellbeing
- Reduce stress
- Strengthen culture
- Protect client relationships
And in most cases, the cost is far lower than the financial hit from even one unexpected resignation.
Practical steps to take right now
1. Review what you already offer
You may have benefits or flexibility in place that simply need highlighting.
2. Add simple, high-impact wellbeing and savings tools
Modern platforms make this easy, quick and affordable.
3. Make sure everyone understands their benefits
Clarity makes a huge difference to how people perceive value.
4. Share updates before January
A short, friendly message summarising the support available can go a long way.
5. Treat retention as a priority, not an afterthought
A small investment now can prevent far bigger challenges later.
Small accountancy firms don’t lose great people because they can’t compete with large salaries. They lose them when staff feel stretched, tired, or unsure about the future.
With the right support – especially through thoughtful, practical employee benefits – firms can keep their teams engaged, valued, and ready for the year ahead.
A little investment in people goes a long way. And for small firms, it can be the difference between starting January under pressure… or starting it in control.
Paul Foley is Managing Director at EB Now.
To find out more about retaining your key employees, contact us today on 0208 044 5357 or email [email protected].
