Growing Talent Is Everybody's Business: Turn More Rookies into Partners
One of the biggest evolutions in the accounting fields 100year history is the presence of women in the profession. As of 2003 * 42% of full-time CPAs were women. * Almost 6 in 10 (59%) of the staff in entry-level positions were women. * Almost 1 in 5 partners (19%) and 4 in 10 (38%) senior managers were women. Despite these numbers, women still lag behind their male counterparts in leadership positions. As firm partners retire over the next 10 years, it will be critical to prepare for the leadership losses by developing women for these roles. Initiating the growth of women is a shared responsibility between firm leaders and managers on the one hand and women themselves on the other. Each has a defined role. THE FIRST FIVE YEARS Women Build your core accounting skills and work to become a process leader. Learn the business, the field of practice and how best to work and communicate with a diverse set of people across all levels of the organization. Begin honing your industry knowledge to set you apart from your peers and to develop more effective and efficient approaches to your client engagements. Most important, work on completing your CPA exam by your second year. This also is a great time to identify a mentor one to two levels above you to guide you through those unwritten and often complex organizational rules not taught in accounting classes. A mentor of either sex is appropriate, because building your core accounting and business competencies can be learned from any great leader. Firms and managers Let new employees know they are expected to perform well immediately and hit targets. Regular on-the-job coaching keeps employees of both sexes working most effectively for the organization. Actively manage employee talent by weeding out poor performers and identifying rising stars of both sexes, and support the establishment of a mentoring program. STAFF LEADERSHIP Women Being a firm leader requires management experience, so seek opportunities to build a team to follow in your footsteps. Delegate and empower a group to accomplish much more than you could as one individual. Coach and prepare individuals to succeed you to make your transition into a new role smoother for both clients and your team. Firms and managers Cultivating and expanding the abilities and skills of females will allow you to more fully develop your human resources capabilities at a time when no company can afford to ignore a single source of competitive advantage. …