Aclivity understands both diversity and inclusion in which we emphasize all of that understanding in how we direct clients, recruit for our clients, and promote our candidates.
Organizations are beginning to realize the importance of creating a work environment that is diverse and inclusive, because of the positive impact that these initiatives have on their overall employee engagement. Research has found companies in the top quartile for ethnic and racial diversity in management were 35% more likely to have financial returns above their industry mean. In fact the combination of employee engagement and gender diversity results in 46% to 58% higher financial performance for business units with above average engagement and gender diversity. By creating an environment focused on diversity and inclusion you are making sure that your company stands out above the competition.
Creating an inclusive work culture creates an environment that is embraces difference. Difference of thought, difference of opinion, difference of experience, just difference. The accounting industry is changing. In 2017, the number one challenge facing the accounting sector was customer acquisition. In 2018, the top challenge switched to finding the right talent to support that growth. Evolved client expectations, historically low unemployment, and emerging technology present a need for employees leveling up their skills in the accounting space. Pressure to uphold historical compliance expertise in tandem with providing greater value through insights and predictive analysis present a unique challenge for professionals within the sector. The ability to attract and retain a diverse pool of talent is paramount to an organization’s success, according to research by Bersin by Deloitte. Part of that strategy? Engagement. Increased retention rates can be directly correlated to high levels of employee engagement, and diversity can boost employee engagement. From recruitment to benefits, employees are looking for companies that value work-life balance even before accepting an interview. Thus companies are beginning to take the entire experience of each new hire into consideration. Enter: the employee experience. Deloitte’s latest research shows that the importance of aligning professional and personal lives of employees increased by 23% from 2016 to 2017 among surveyed participants.
Only 39% of accounting employees under age 30 are engaged, compared to 55% of respondents over 30, according to a 2017 study. Regardless of age diversity, only half of accounting professionals are engaged. Accounting employees want to be advisors and seek the challenge to strategically serve clients. They are more likely to stay and become involved with firms prioritizing advisory work over firms operating traditionally. They see automation replacing jobs and digital services making light work of tax filing. Clients want wealth management experts. They want guidance and financial best practices from the best CPAs.
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