E&Y Employees Get Perks Even After They Depart

Ernst & Young LLP has learned that staying connected to employees who leave the firm is good for business.

About five years ago, the Toronto-based accounting firm decided to ask former employees what the company could do for them, even though they no longer drew a paycheck from E&Y. Colleen Albiston, E&Y's director of national marketing, traveled around Canada and found a strong desire for continuing education.

Former staffers were given the same access as current employees to E&Y-sponsored webcasts that discuss developments in the field. Former employees also receive a newsletter twice a year and are invited to social gatherings. They can also log onto the E&Y alumni website to look up currrent and former employees, post resumes or read a list of job openings.

It’s not unusual for former E&Y employees to return. In fact, 13 percent of new hires last year were so-called "boomerangs." Albiston told the Toronto Globe and Mail that one of the goals of the alumni program is to capture top talent.

For example, the company hires graduates, guides them through the accreditation process and then sees them move on. If they want to return later, it’s often at a more senior level.

"They always bring back a lot of assets and understand clients on a level they wouldn't if they'd spent their whole career focused on this side of the business," Albiston said.

Returning employees also send a positive message about E&Y to younger employees, she said.

Luana Comin-Sartor, senior manager of audit and assurance business services in Toronto, rejoined Ernst &Young in 1999, after a long tenure at Nortel Networks Corp.

Younger colleagues seek out her advice about their own career prospects.

"People see me as having a more objective view, because I did leave," Comin-Sartor said. "When they're wondering where to go next, I can point out different possibilities, including staying at Ernst & Young."

You may like these other stories...

Here's a CPA who truly walks the walk. On March 15, Frank Ryan, CPA, departed San Diego, California, with plans to be in Ocean City, Maryland, by July 2 to teach a course at the Maryland Association of CPAs’ (MACPA...
When Theodore J. Flynn first joined the Massachusetts Society of CPAs (MSCPA) in 1970, it was a different world and a different profession.  The "Big Eight" were still headquartered in Boston. Vietnam War...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...

Already a member? log in here.

Upcoming CPE Webinars

Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 21
Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience's communication style.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.