The accounting industry is facing a talent war, and Gen Z is a critical generation that CPA firms need to attract and retain.
Gen Z workforce is tech-savvy, socially conscious, and value flexibility and work-life balance. To win the Gen Z talent war, CPA firms must adopt new strategies that appeal to this generation of workforce.
Here are 9 strategies for CPA firms to build the firm of tomorrow and win the Gen Z talent war:
1. Invest in Technology:
As Gen Z employees are used to working with technology, CPA firms should invest in the latest technology to attract and retain them.
This includes investing in cloud-based accounting software, mobile apps, and other tools that allow Gen Z workforce to work remotely and collaborate with others.
2. Embrace Diversity and Inclusion:
Gen Z workforce value diversity and inclusiveness in the workplace.
CPA firms that want to attract and retain Gen Z talent should create a welcoming and inclusive workplace for all employees. This includes having a diverse workforce, providing unconscious bias training, and developing policies and procedures that promote equality and fairness.
As per a survey by Tallo, 69% of Gen Z respondents said they would
“absolutely” be more likely to apply for a job that had recruiters and materials that
reflected an ethnically and racially diverse workplace.
3. Offer Flexible Work Arrangements:
Flexibility and work-life balance are important to Gen Z workforce. To win the talent war, CPA firms should provide flexible work arrangements such as remote work, flextime, and compressed workweeks.
As per the survey by TalentLMS and BambooHR, flexibility in when and where they
work is important for 81% of Gen Z employees. And the majority prefer a hybrid model
which combines remote and office work.
4. Provide Opportunities for Professional Development:
Gen Z workforce are eager to learn and advance in their career path. CPA firms can attract them by providing them opportunities for professional development, such as tuition reimbursement, mentoring programs, and leadership training.
5. Give Back to the Community:
Gen Z is socially conscious and prefers to work for companies that give back to the community.
CPA firms need to get involved in their communities and support local charities and organizations to attract Gen Z talent.
6. Be Transparent and Communicative:
Transparency and communication are vital for Gen Z workforce.
CPA firms need to be transparent about their policies and procedures, and they must interact with their employees on a regular basis.
7. Celebrate Employee Successes:
Gen Z employees want to be recognized for their efforts. In order to retain them, CPA firms must celebrate their successes, both big and small.
8. Listen to Employee Feedback:
Gen Z workforce want to know that their opinions are being heard. To win the talent war, CPA firms should listen to employee feedback and take it seriously.
9. Be Innovative:
Gen Z is creative and innovative. In order to attract them, CPA firms need to be innovative in their practices and in the way they approach their work.
By adopting these strategies, CPA firms can bring the transformation and win the Gen Z
In addition to the strategies mentioned above, CPA firms can also attract and retain Gen
Z talent by:
- Offering Competitive Salaries and Benefits: CPA firms that offer competitive compensation and perks, such as health insurance, retirement savings programs, and paid time off, are also appealing to Gen Z talents.
- Creating a Positive and Inclusive Work Environment: Gen Z workforce want to work for firms that value diversity and inclusion. CPA firms that create a positive and inclusive workplace culture are more likely to attract and retain Gen Z talent.