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Notoriously long hours, detail-oriented work, and considerable face time are parts and parcels of the CPA's working life. For accounting firms, changing this kind of culture may be even more important than money in the quest for new hires. Given the stereotype of the overworked number-cruncher, it's no surprise posts for CPAs are wanting for candidates. Even without the pressured working conditions, other, often more lucrative opportunities are luring accountants away from the CPA fold. According to the 2007 CPA Examination Summit white paper from the National Association of Black Accountants, the wider financial world is drawing more young people of all backgrounds out of accounting. Better salary offers play a part, as does the perception getting the MBA is easier than earning CPA licensure.
Talent Drought Pushes Change
In response, firms concerned about the lack of talent are seeking ways to change their cultures. They're motivated not only by the growing need for talent, but by a younger and more demanding workforce, says Keith Feinberg, director of permanent placement services for Robert Half International in New York. A recent survey by Robert Half Finance & Accounting found that 57 percent of the CFOs interviewed believe accounting job candidates are much more likely to ask prospective employers about work/life balance than they were five years ago.
"These employees are more value-oriented and less work-centric than the Baby Boomers were before them," says Cheryl Leitschuh, chair of the American Institute of Certified Public Accountants' work/life and women's initiative executive committee. "We have to change the mindset in the profession to get away from the 7-to-10 work day and move over to a more results-driven approach."
In addition, flex time, perks designed to enhance retention and efforts to shift the accounting culture are all tools firms can use to tap into underrepresented pools of workers, notes Leitschuh. One effort - a partnership between the National Association of Black Accountants and the Howard University School of Business/Center for Accounting Education - is focused on communicating the benefit of CPA licensure to African-American accounting graduates. Interestingly, the NABA white paper notes that the number of African-Americans graduating with degrees in accounting and finance is increasing, but the number of African-American CPAs isn't.
One Size Doesn't Fit All
Part of shifting the culture involves recognizing the many needs of a diverse workforce and responding to them in an office-by-office fashion, says Thalia Zetlin, principal and chief marketing officer for Berdon LLP, an accounting and advisory firm based in New York. A variety of perks and approaches are essential to culture change in the accounting world, she believes. For instance, Berdon runs a number of events, including health fairs, sports outings, sessions on corporate attire, and in-house Toastmasters' events to help members develop communication skills.
Says Zetlin: "Being sensitive to your employees' needs is important. People do want lifestyle changes in the profession, but they also want help with their professional goals. You have to be creative and find ways to make it work. When there's the usual crunch time, people have to put in the hours. But they need to be able to bank the time, and get extra pay and time out later, at some point, to even it all out."
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