Factors Influencing Turnover Intention of Accountants at Accounting Service Firms in Vietnam

Abstract

Background: Intention to quit is an important issue in human resource management, and is also an issue that needs to be solved in the enterprise. Quitting always occurs in every enterprise, but a high turnover rate can exhaust human resources, disrupt operations, and reduce the enterprise's profits.

Objective: This study examines the impact of seven key factors influencing turnover intention. The study also proposed some valuable management implications for enterprises in Vietnam.

Methodology: This study employs a qualitative content analysis based on interviews with 30 senior accounting managers. Using content analysis techniques, the authors searched for and separated data segments according to prominent concepts, then organised them in a meaningful order to describe and explain a phenomenon. The author obtained 760 valid responses based on structural equation modelling to test hypothesised relationships.

Result: The SEM results reveal that job stress/workload (β = 0.324) and organisational commitment (β = 0.323) are the strongest determinants of turnover intention, with nearly equal effects. Additionally, the factors that follow career development opportunities (β = 0.105) and job satisfaction (β = 0.099) also show significant but weaker effects on work-life balance, supervisor and peer support, and compensation.

Conclusion: Understanding turnover intention will help organisations make adjustments to their policies and strategies, reducing voluntary turnover and retaining employees who have not yet left.

Unique Contribution: The study provides novel, empirical evidence that establishes a clear and effective organisational mechanism for mitigating employee turnover intention (i.e., dissatisfaction and active job seeking).

Key Recommendation: Implement targeted improvements across the identified seven organisational factors. This strategic intervention is essential for cultivating organisational commitment and enhancing job satisfaction, which directly mitigates employee turnover intention. By alleviating chronic employee work pressure and strengthening organisational structure, these factors will secure workforce stability and enhance the long-term competitiveness of accounting service businesses.