april2021 - 5

THE LEADERSHIP ADVISOR

Diversity, Equity and Inclusion
for the Modern Firm
AMY VETTER, CPA.CITP, CGMA

Mindful Technologist &
Keynote Speaker
@AmyVetterCPA

EVERYONE WANTS THEIR CPA firm to be a modern workplace equipped for the challenges of
tomorrow. Turning this dream into a reality is a wide-ranging and multifaceted effort, touching on
everything from technology and remote work policies to branding and service offerings. Perhaps
the biggest and most imperative way to modernize a firm, however, involves the people you
hire and the way you treat those people. Without taking the time for a thorough understanding
of diversity, equity, and inclusion (DEI), your firm may be up against some tough times ahead.

The benefits of a diverse and inclusive workplace are numerous. Young people want to work
for companies with strong values that reflect a
DEI-focused approach to hiring and culture.
Diverse workforces are also statistically proven
to generate more revenue, and the numbers are
drastic and significant in this respect. The same
is true of diverse teams and their performance.
Emphasizing DEI within your firm, then, is a win
in every respect, not to mention simply being
the right thing to do. There are hardly any businesses that don't want to be seen as inclusive and
forward-facing when it comes to these issues, but
far too many simply pay lip service to the idea
without doing what it takes to really understand
the challenges and implement policies
that make a difference.

we can define equity as acknowledging different
experiences in order to provide an equitable
experience for all.
Inclusion is the act of making all types of
people feel comfortable and accepted in the
workplace. Creating an inclusive firm will require
you to tackle both big-picture ideas and granular
details. Little details, down to the words we use
to communicate to one another, can have a massive impact on how included people feel in the
workplace. Oftentimes, we aren't even aware of
little ticks of language, behavior, or policy that
can make people feel excluded. Addressing these
concerns will help make everything you do make
all of your team feel welcome.

DEFINING DIVERSITY,
EQUITY, AND INCLUSION
Before you begin to enact DEI initiatives
in the workplace, you should take the
time to grasp what each of the three
terms mean. Diversity, the broadest
of three terms, simply means having
many different types of people in your
workplace. While that's pretty straightforward, people still make mistakes
when talking about diversity. Promoting
diversity at your firm is more than discussion
on the topic, but filling positions with people
from different backgrounds that have equal
opportunity for success at your firm.
Beyond diversity is equity, which involves
ensuring that all of your diverse employees are
treated fairly. As Forbes notes, " Equity requires
an organization to acknowledge that everyone
has different needs, experiences, and opportunities and respond accordingly. " In other words,

PUTTING DEI INTO ACTION
Once you understand the pillars of DEI, you can
begin to craft policies and initiatives that reflect
them. The easy part is discussing inclusion and
making it one of your core values; the harder part
is living those on a day-in, day-out basis. You
have to be willing to assess every aspect of your
operations in light of DEI principles. Otherwise,
you're at risk of being rightfully called out for
talking the talk, but not walking the walk.

An obvious and crucial place to start is with
your hiring practices. Firms should strive to
have a workplace that is reflective of the places
they are located, which can include hiring and
promoting candidates from myriad backgrounds
and lifestyles. Many companies become less
diverse as you work your way up the corporate
ladder. Equity should be present at every level
of the company.
You should look outside your own doors when
it comes to assessing DEI practices. Everything
from the vendors you work with to the charities
you support paints a picture of where you stand
on DEI. In an always-online and data-obsessed
world, people can do the legwork and see supports the principles it espouses.
Additionally, setting up a system of checks
and balances, where you are rigorously asking for
feedback and reviewing how everyone is doing
around these values and policies in place is key.
Putting them in place but not being tested on
their effectiveness can make the effort futile
and leave employees disappointed. Having an
independent review process periodically to stay
on track and make changes as necessary can
help with your success.
Most of all, though, a focus on DEI has to
come from the hearts and minds of the leaders
at your firm. It has to be an animating aspect of
who you are as a firm and the example is from
the top. The adaptation process may not happen
overnight, but it's something you can strive for.■

APRIL 2021 ■

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april2021

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