What People Want
Understanding what your team truly wants and values has never been more important than it is today.
It's no secret the accounting profession has seen a lot of change in recent years. Part of that change is what people value in their careers. While all firms are different and people value different things, we can find some similarities regarding what people want across the profession.
After reading many articles and speaking with staff at various accounting firms, I have found seven common areas that people in the accounting profession want from their firm leadership. Read on to find out what your people want.
Clarity around the firm's mission
I believe most firms are driven by their mission. But firms may need to double down on clarity around what the firm's mission is and living it out. Are your leaders using the firm's mission as the talking point in conversations with their people? Does your team understand, or even know, what your firm's mission is? Employees need to be able to connect their sense of self to the firm's mission. We do that by clearly communicating the mission and actively living it.
Consistency around firm culture
Culture showed up almost everywhere in my research as an important element, but having a consistent idea or sense of your firm culture was a significant point for people. Nothing drives people crazier than believing the culture is all about people, then the next day, feeling that it is actually about performance.
How do we ensure that when we talk about culture, it is comprehensive enough so our people don't feel like we keep moving the goalpost? While I don't believe leaders do this intentionally, there must be a balance between performance and culture. Leaders need to be consistent with communication on what their culture is and is not.
Growth opportunities
Are you providing your team with the opportunity to stretch themselves to grow? I believe most firms provide many opportunities for their teams to grow; however, it sometimes isn't articulated well to their people. While it is essential to be compliant with CPE and continuing education, this goes far beyond that. People want to grow as future leaders and rainmakers or develop technical skills in specific areas. Leaders have the opportunity to coach and mentor their team and guide them to the opportunities that stretch them. As leaders, we need to listen to our staff about how and where they want to grow and provide the opportunity to do so.
Work with positive and optimistic people, people who see the future clearly
People want to work with people they like. Plain and simple. And this may make you wonder how you can ensure your people like each other since everyone has different personalities. But really, it's about having common goals and approaches to certain things. We reinforce this through culture and the firm's mission. And by defining what we do and do not tolerate from our people in these areas.
Adaptable/Flexibility
You're probably rolling your eyes now and thinking to yourself, "We get it, Gary, flexibility is important," but what we are seeing as a common pain point around this is having clarity. I don't think firm leaders are clearly coming out and saying who they are and what they will do as it relates to flexible work, remote work, etc. They are letting it define itself, causing some angst among their people. People want to know that they are living up to the expectations around this. It's not about right or wrong, being an in-person or work-from-anywhere firm. It's about clarifying this and holding people accountable for how it is defined.
Client work that is rewarding and beneficial to their careers
I don't think this concept is new to anyone reading this article. However, I believe it is important to note that this is something that I have heard is very important to employees. Serving the right clients keeps our people engaged, and serving the wrong clients runs our people off. As leaders, we must be conscientious of this and ensure we set those boundaries with current and new clients. We shouldn't be bringing in new clients just to bring in new clients. We need to ensure that they are the right client. The same goes for keeping clients. Even though your firm has done work for someone for years, you need to determine if they are benefiting your firm or hurting it.
Security
The COVID-19 pandemic unsettled people. Our support systems were broken, and people had to deal with many financial, physical, and mental issues. People want to feel secure in their careers and know they have the support they need. Firms need to provide the resources that their people want and need. I worked with a firm recently that did a confidential survey and found out that more of their people were using the mental health resource they offered than their medical health insurance.
It's time for firms to go beyond the basic resources and start offering resources that help elevate employee stress. People need those mental health, financial consulting, daycare, etc., resources to help them feel settled at home and work. This wouldn't only improve the health of your current employees but also would be a great retention and recruiting tool.
Accounting firms find themselves in a time that is filled with transformation, both professionally and personally. It is up to firm leadership to create an environment that encourages employees to reach their fullest potential. By having clarity around the mission of the firm, consistency concerning its culture, growth opportunities, work with uplifting people, adaptability and flexibility, rewarding client work and security; accounting firms can retain their best talent while also displaying conscientiousness in preparing future leaders that impact the community. It takes responsibility on both sides — company leadership and employee — to foster a positive workplace atmosphere where ambition is strongly encouraged. With this balance firmly established, the future of accounting will continue to rise without fail.