The Evolution of an Idea

Internal Auditor, Oct, 2001

Back when this issue was simply a trickle of an idea, we-the editors-thought our theme was going to be recruiting. We researched the subject and gathered suggestions from auditors themselves and other interested parties. Vie dutifully made a list of the topics we hoped to cover - from the prospective employee's and the organization's perspectives - and then began to develop specific articles. We quickly realized, however, that the subject matter was not a trickle, but an ocean. Our topic list covered such broad areas as the interview process; compensation, benefits, bonuses; and retention. There was enough material surrounding any one of these subjects to fill an entire magazine and still have some left over. So, we went to the experts again and learned that most of them already knew how to interview, they'd read hordes of articles on compensation, and they were almost experts on benefits. "We can get employees," they told us. "What we have trouble with is keeping them." Retention. Now, we had a focus that wa s not only interesting to our readers but useful as well.

We began to define our feature pool by soliciting the opinions of a major job placement agency, which helped narrow our list to specific retention issues. Many of the best ideas came from our Editorial Advisory Board, a solid group of internal audit practitioners and educators. Several members pointed out that internal auditing is a high turnover department because many auditors don't expect to stay in the field for more than five years. Consequently, employers must come up with strategies to either deter or manage continual turnover.

One way today's organizations manage turnover is by making the internal audit department a training ground for their employees. Auditors spend a few years gaining corporate knowledge before moving on to management positions in other areas of the company. The challenge, however, is to keep those employees from taking their knowledge to another company.

According to Max Messmer, chairman and chief executive officer of Robert Half International Inc. and author of "Capitalizing on Corporate Culture" (see page 38), a company's corporate culture - the emphasis it places on principles such as open communication, ethical business practices, and intellectual challenge - usually is a deciding factor in whether or not a valued worker stays with the company. "Training as a Retention Tool," page 47, looks at some of the innovative training and development programs employers such as Wal-Mart Stores Inc., The Vanguard Group Inc., and The World Bank Group have launched to keep auditors challenged and to entice them to stay with the company. Although this training often is used to prepare auditors for positions outside the audit function, many employees choose to use that knowledge to further their audit career. John Morgan, partner, internal audit services, at Deloitte & Touche LLP, says that a healthy corporate culture not only embraces turnover but also makes room for those who want to stay put (see "Turnover: The Ebb and Flow," page 32).

Whether your audit department caters to career or rotational auditors - or both - this issue will help you decide on the best approach to retaining the best and the brightest employees.

Anne Scott

Managing Editor