How to Retain Key Employees After Buying an Accounting Firm

So, you just bought an accounting firm, or you’re about to, and you're wondering how to keep the wheels turning without losing your best people. Fair question.

The transition period right after a deal closes is prime time for talent loss. And spoiler alert: it's usually the high performers who leave first.

Here’s what I’ve seen again and again as a deal attorney working in M&A every day. If you don’t get employee retention right, you don’t just lose people—you lose momentum, client trust, and sometimes even revenue. Here’s how to avoid all that.

Start With Clarity and Confidence

If you’re lucky enough to meet with employees before closing (and yes, this should be in your LOI as a condition precedent), don’t waste the opportunity. Get the seller to introduce you during a team meeting. Then, you show up an hour later and take everyone to lunch.

It sounds simple, but this sequence works. It shows continuity and goodwill—and sets the tone for what’s next.

Deliver Physical Offer Letters, Not Just Verbal Promises

This part is crucial. When you meet the team, hand each person a printed offer letter. Not an email. Not a Slack message. A piece of paper they can take home and show their spouse.

That offer letter should confirm:

• Their job is secure if the deal closes

• Pay and benefits will match or exceed their current package

• It’s contingent on closing, so you’re not poaching them if the deal falls through

This written commitment matters because people don’t hear clearly when their livelihood is on the line. They’re too busy thinking about their mortgage, their kid’s upcoming surgery, or what happens to their vacation time.

Ask This One Question Before You Even Meet the Team

Before you walk into that lunch or meeting, ask the seller: “Is there anyone here who wanted to buy the business?”

Because if someone on staff had their heart set on buying the firm and got passed over? You may be walking into an emotional minefield. That person could sabotage your transition faster than you can say “earnout.”

It’s even trickier when it’s a family member. Think sons, daughters, or long-time right hands who were expecting to take over. Know the internal dynamics before you make your entrance.

Don’t Offer Raises, Offer Retention Bonuses

Everyone’s first instinct is to sweeten the pot with a salary bump. But here’s a smarter play: offer a retention bonus instead.

Example: Instead of giving someone a $6,000 raise on day one, promise a $6,000 bonus if they stay for six months. That way, you’re spending the same money—but now it’s working harder to keep your team stable during the transition.

You can always reward them with a raise later once you’ve had time to evaluate their role.

Stability Is the Secret Sauce

If there’s any uncertainty, your best employees—the ones who get recruiter calls every week—will be the first to leave. Don’t risk that.

Offer written, clear, and immediate assurances. Be thoughtful in how you approach the team. And when in doubt? Bring people over. You won’t know who the real MVPs are until you’ve lived in the trenches with them.

You’re not just buying processes and client lists. You’re buying trust, talent, and company culture. Get the transition right, and you’ll keep all three.

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