Research conducted by the Center for Accounting Transformation revealed that about one-fourth of accounting professionals would like to increase their activity in DEI programs. However, only about 30% of accounting organizations implement DEI initiatives.
The findings were shared during the Center’s recent webinar on the research results, “The DEI Journey of Accounting Professionals – A Research Study Analysis,” which was hosted by Donny Shimamoto, CPA, CITP, CGMA, the founder and managing director of IntrapriseTechKnowlogies, LLC, and the founder and inspiration architect of the Center for Accounting Transformation.
Featured panelists included:
- Jina Etienne, CPA, CGMA, CDE; Founder & Principal Consultant, Etienne Consulting
- Mary Bennett, MBA, CIA, CEC; CEO, MLBennett Consulting LLC
- Stephani Mason, CPA, Ph.D.; Associate Professor, School of Accountancy & MIS, DePaul Driehaus College of Business & Kellstadt Graduate School of Business
- Claire Costin, CPA, Ph.D.; Assistant Professor, University of Portland
Underscoring the importance of linking DEI efforts to business strategies to secure executive support, Costin shared, “Many executives self-identified as bystanders in the DEI journey, indicating a need for greater engagement at the top levels of organizations.” Shimamoto added, “We have made progress in diversifying entry-level positions, but the lack of retention at higher levels remains a significant issue.” The panelists discussed the critical role of creating inclusive environments to retain diverse talent.
Tailored Strategies for Different Firm Sizes
Rebuking the idea that DEI strategies are only concerns for large organizations, Bennett said, “DEI strategies should be customized based on the size and needs of the organization.” She then added, “Smaller firms can still implement effective DEI initiatives by understanding their unique challenges and opportunities.”
Inclusive Recruiting and Policy Adjustments
Mason and Etienne discussed the importance of broadening recruitment efforts and reevaluating existing policies to ensure they are inclusive. “Competent recruiters who understand DEI principles are essential,” Mason added. “Just because someone was a good accountant does not mean they should be the face of the firm when it comes to recruiting. We need skilled recruiters who can engage a diverse candidate pool.”
Belonging as an Outcome
The concept of belonging was explored in depth. “Belonging should be viewed as the ultimate outcome of successful DEI efforts,” Etienne said. “Creating an environment where all employees feel valued and can thrive is essential for long-term success.”
Concluding the webinar with an optimistic message, Costin said, “Progress in DEI is a game of millimeters, not miles.”
“The fact that we’re here talking about how to move forward means that we want to, and that’s hopeful.”
“Together, we can create a more inclusive, equitable, and diverse accounting profession, where every professional can thrive and contribute to the betterment of the industry and society.”
Key Takeaways
- Start Small, Think Big: Implementing DEI initiatives doesn’t have to be overwhelming. Begin with small, meaningful actions that align with your organization’s values and goals.
- Focus on Inclusion: Beyond recruiting diverse talent, ensure that your workplace culture supports and values all employees. Inclusion and belonging are key to retaining talent.
- Educate and Empower: Provide training and resources for all levels of your organization. Empower passionate employees to lead DEI efforts and give them a seat at the table.
- Continuous Improvement: Recognize that DEI is an ongoing journey. Regularly assess your progress and be open to making adjustments as needed.
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Tags: Firm Management, Staffing
