august2021 - 24

THE STAFFING & HR ADVISOR
DIVERSITY, EQUITY & INCLUSION IN CPA PRACTICES:
Is Everyone Accounted For?
DIVERSITY, EQUITY & inclusion (DEI) in the workplace has come under heightened focus since
2020 as social unrest grew and the pandemic prompted many to reevaluate their lives. Accountancy
firms are more committed than ever to making progress in this area. However, with
many groups still underrepresented in the CPA profession, there is clearly still work to be done.
Savvy accounting leaders understand
DEI runs much deeper than
demographics, but many still wonder
how they can implement lasting
change. Whether you manage a small
firm or a big department, here's why
diversity matters and how finance
and accounting leaders can create a
workplace based around meaningful
inclusion.
WHY DIVERSITY DOESN'T
ALWAYS MEAN INCLUSION
Diversity and inclusion are often used
interchangeably, but they can mean
different things in the workplace
context. Whereas diversity is about the
representation of employees with different
backgrounds and beliefs - be it
ethnicity, age, gender, religion, political
views or sexual orientation - inclusion
is how it actually feels to work at
your firm. Do all team members feel
safe being their true selves at work?
Is everyone treated fairly with equal
opportunities to progress? Does each
individual feel valued and confident
their views will be taken seriously? If
your answer to any of these questions
is " No " or " Maybe, " it's time to review
your policies.
WHY DEI MATTERS TO
YOUR BUSINESS
Workplace diversity is often mentioned
in the context of social responsibility
or legal obligation. But not only is it
simply the right thing to do, diversity
management can take your company
culture and business to a new level.
Here are some of the benefits:
■ Different perspectives - A workforce
that includes professionals from a
variety of backgrounds gives you
access to a broader range of skill
sets and experiences. You'll reap the
benefits when planning and executing
a business strategy for a diverse
customer base.
■ Increased creativity - Bringing
together people who see things differently
creates a melting pot of fresh,
new ideas and facilitates innovation.
■ Agile decision-making - When
teams look at problems from different
angles, they can make informed
decisions and respond quickly to
market changes.
■More potential candidates - Firms
that consider applicants from diverse
backgrounds have a larger talent pool
to choose from when hiring. What's
more, diversity boosts a company's
brand, so these firms are more likely
to attract applications from top
performers.
■ Reduced employee turnover - Diversity
and inclusion in the workforce
results in more loyal employees who
feel a sense of belonging and desire
to stay with the company. With
accountancy talent in high demand,
retaining employees is crucial.
■ Increased productivity - When
workers feel valued and trusted, it
boosts their morale and productivity. If
the whole workforce feels this way, the
performance of your firm skyrockets.
TIPS FOR MOVING THE
INCLUSION NEEDLE
Building an inclusive workplace
culture is neither quick nor easy to
achieve. Many equality issues are
sensitive topics that can involve
uncomfortable conversations. While
24 AUGUST 2021 ■ www.CPAPracticeAdvisor.com
good diversity practices are developing
across the accountancy world, CPA
firms must make a continuous, conscious
effort to address any shortfalls
and improve the employee experience.
■ Change from the top down - Many
firms include a diversity statement
as part of their core values, but
meaningful inclusion requires more
than lip service. Firm leaders need
to make it plain that every manager
is responsible for understanding
and living the company's values and
setting an example for everyone on
their team.
■ Attract diverse candidates - To
build a diverse workforce, you'll need
to make your recruitment process
inclusive and appealing. Highlight
your commitment to inclusion on the
careers page of your website and feature
photos and quotes from a broad
range of employees or customers.
■ Remove unconscious bias from
the hiring process - Bias can lead
recruiters to make exclusionary hiring
decisions, so replace gut instincts with
objective criteria. Remove personal
details such as name, age or address
when shortlisting candidates and use
structured interview questions to hire
the best person for the role.
■ Provide DEI training - A one-off
training session won't turn your
firm into a beacon of DEI, but it can
be a useful starting point for honest
conversations. You can also allocate
time for discussing diversity topics in
your regular meetings and ask your
team to identify daily actions or " micro
behaviors " that strengthen or weaken
inclusiveness in the workplace.
■ Encourage diverse thinking - Create
PAUL McDONALD
Senior Executive Director
Robert Half
paul.mcdonald@cpapracticeadvisor.com
an environment where views are challenged
and openly discussing them
doesn't seem like a personal attack.
Being able to consider alternative
viewpoints is one of the most important
elements of critical thinking,
which is vital for business success.
■ Ask for feedback - Set up an
employee resource or networking
group - an organization created and
led by employees from traditionally
underrepresented groups to share
common interests - to review office
practices through a diversity lens.
Whether it's workplace benefits, such
as flexible schedules, meal choices
or cultural celebrations, having a
dedicated group looking out for inclusion
will help inform company policies.
■ Constantly reassess - Unless you
make your effort an ongoing one,
it's easy for a firm to slip back into
its old ways. That's why you must
continuously measure your efforts
and set ambitious goals for inclusion.
Partnering with organizations like
the National Association of Black
Accountants, the Accounting &
Financial Women's Alliance and
Ascend Pan-Asian Leaders will give
you fresh insight into DEI issues and
keep the topic current.
Workplace diversity isn't about
ticking a box or a token gesture of
equality. It's about recognizing the
limitations of a homogenous workforce
and striving for more empowered
employees. In today's global market,
where companies can reach people
all over the world, diversity isn't just
a passing fad - it's a better way to do
business. ■

http://www.CPAPracticeAdvisor.com

august2021

Table of Contents for the Digital Edition of august2021