As the effects of the COVID-19 pandemic have continued throughout 2021, accounting firms have had to step up their efforts like never before to accommodate new hires entering the profession. Unique new challenges have transformed a traditional workplace seemingly overnight, but top firms have continued to answer the call by offering more flexible work options, upgrading their technology capabilities, and above all, by striving to make young professionals’ lives just a bit easier during hard times.
Austin, Texas-based Holtzman Partners, the No. 1 firm on Accounting Today’s 2021
“We always joke around and say that Holtzman has always been ahead of its time in terms of the way we do business and take care of our employees,” said audit partner Luke Childress. “Since day one, Holtzman was founded around principles that saw the importance of things such as work-life balance, employee well-being, well-rounded experiences, etc. … Here we are over a decade later and these topics are critical areas in the workplace.”
It is that foresight into what makes a firm not only able to attract young professionals but to retain them as well that Holtzman prides itself on.
“An entire upcoming generation is focused on selecting a place to work that cares about the same things they do, and that is great because we have been fine-tuning and continuously improving our holistic employee experience since opening our doors,” added Childress. “We offer an experience that enables our employees to do and be more than just what their job description entails.”
This notion was especially true through the continued effects of the COVID-19 pandemic, as the firm says its commitment to young staff hasn’t wavered.
“I am incredibly proud of the great strides that we have made through our commitment to diversity and inclusion, and by offering professional growth opportunities so our employees can continue to thrive in a hybrid environment,” said Childress. “We made sure to keep all our engagement opportunities — such as employee committees, happy hours, parties and events — up and running even if it was only able to be accomplished via Zoom. As soon as we were able to have some in-person events, we have opened the opportunity for those who feel comfortable to come and connect. It has been an incredibly challenging year for our people and we are proud of how much they have been able to overcome in their personal lives, and continue to do as much as we can to support them.”
To make a firm a top choice for young accountants, Childress advises firm leaders to keep a new hire’s perspective top of mind. “Be authentic in your approach to a holistic employee experience,” he explained. “Young professionals want to be a part of a company they can get excited about, and a well-rounded experience is important.”
To find out what makes the rest of our 2021 Best Firms for Young Accountants successful, we polled the leaders of the firms on the list about what strategies are best for the recruitment and retention of the profession’s future leaders.
How do you keep young professionals successful in your firm?
BeachFleischman: We invest in our staff by offering a myriad of professional development opportunities that include continuing professional education, membership in professional organizations, a leadership development program called “developU,” and a mentoring program.
Brown Schultz Sheridan & Fritz: Further to their one-on-one mentoring, we also have the BSSF Emerging Professionals group, which provides all team members from zero to eight years of experience with additional resources related to overall professional development, career growth within the firm, and community and volunteering initiatives.
Hancock Askew & Co.: In their first year, [young professionals] join our mentorship program to begin identifying their longer-term growth goals and setting a path forward for their development.
Henry+Horne: Year-round training opportunities, CPA exam help, a mentoring program (after a year with the firm they select from a list of higher-level team members throughout the firm [as mentors]) … Once they obtain their CPA license, they are eligible to be a part of our Innovation Committee, which develops initiatives to bring the firm into the future of the industry.
Mahoney CPAs: Succession planning at all levels is a key firm strategic directive, and our transparency and commitment to the preparation of our employees for the future is an integral part of our culture and practices.
Maner Costerisan: Valuing [young professionals’] opinions. Some companies simply don’t care what new hires have to say or think. No matter who you are at the company, your opinion will be taken seriously.
WilkinGuttenplan: A robust formal coaching program that provides one-on-one mentorship and guidance along each individual’s career path, as well as leveraging technology like Prolaera to develop individualized learning tracks with training and career development for both technical areas and soft skills. … We also make a concerted effort through our NextGen program to have our staff engage in client-facing experiential learning early on in their careers, so that they understand the “why” behind what they do.
Windham Brannon: We established an Associate’s Council to help [young professionals] revisit our policies, benefits and make suggestions for the betterment of the firm and to be an advocate on behalf of all younger professionals.
For example, our Associate’s Council was the primary driver for our revised dress code … and helped identify what technology was needed to help us prepare for our hybrid working spaces. Membership is on two-year rotation to ensure that we continue to have a fresh perspective.
What did the firm do to encourage a positive work culture for young accountants over the last year and through the COVID-19 pandemic?
WilkinGuttenplan: The firm launched official Disconnect Days where staff were not allowed to check emails or do any client work and enjoy their time doing what they love most. We also coordinated more frequent check-ins among staff to ensure that we were communicating any changes real-time, as well as continuing to foster relationships despite not being in person.
The firm also launched our new performance management platform that helped streamline our coaching program. We were able to leverage this technology in a remote environment to help our staff stay on track and further our transparency with firm goals and working together to achieve success together.
Mahoney CPAs: We sought the guidance of remote-work experts to best address how to approach the balance of working remotely while still being connected to one another. … The emergence of virtual training allowed for continued educational development and we enhanced our internal training library as well to ensure continued quality training and development opportunities.
Brown Schultz Sheridan & Fritz: We encouraged our managers to reach out to their team members and casually check in to try and recreate some of the regular in-person interactions as best we could. … The firm also sent out care packages throughout the year to ensure that our young professionals and all of our team members knew that we were thinking of them.
Hancock Askew & Co.: Because we were already used to working via [Microsoft] Teams when the pandemic hit, our transition to remote work was an easy one. ... Managers had team calls to stay connected and we held virtual contests to keep things fun. We also started a weekly lunch with our leader conference call across all offices to share updates and provide an open forum for questions. It was so popular we have kept it in place even though most of us are back in the office.
Henry+Horne: We supplied laptops/docking stations, dual monitors, scanners, printers and other office equipment, along with a $250 home office reimbursement, to ensure our young accountants were able to work remotely just as easily as they would in the office.
What are your strategies for recruiting and retaining young accountants?
Maner Costerisan: During our recruiting process, we involve individuals from every level of the firm so that our recruits get a true perspective regarding our culture. Typically our first introduction to the firm is through our leadership program or on campus, and students want to meet people like them, so we involve our newest team members in that process as well. This certainly helps from a recruiting perspective, but also for retention since our young accountants get to be involved right when they start with the firm.
Windham Brannon: Our increased diversity, equity and inclusion efforts over the last two years are a testament to our young accountants. Age is a facet of diversity and it’s important to be mindful of that in terms of recruiting as well as retention. Our DEI Advisory Council is made up of all levels and backgrounds within the firm and meets monthly to discuss important initiatives and ideas. Anyone at the firm is welcome to attend our meetings, provide insights, or suggest ideas to improve WB in terms of diversity, equity and inclusion.
Brown Schultz Sheridan & Fritz: Our high school program … has now grown into a two-part virtual event called “Find the Right Path: Accounting.” This interactive presentation introduces students to what accounting is, education tracks, career possibilities, and tips on how to get started if interested in a career in accounting.
After viewing the first part of the presentation, students can submit questions to a panel of BSSF professionals, who in turn answer those questions in the second part of the program. … Furthermore, the firm started an annual scholarship with the National Association of Black Accountants for students who are majoring in accounting.
Mahoney CPAs: The best referrals are from those who work with us, and through them we are able to provide a true reflection of who we are and the opportunities within our firm. A number of our current partners began as interns!
WilkinGuttenplan: We currently have two internship programs that were fully virtual in 2020 and 2021, and [we’ll] continue to offer hybrid/fully remote/fully in-person options to ensure that we can continue to bring young accountants into the industry and to our firm. … We also have yearly initiatives that help educate our young professionals on how to manage their personal finances and save for the future, as well as mental health awareness activities such as guided meditation or use of personal meditation apps, reminders to take scheduled breaks throughout the day and get outside, physical activity challenges with celebrations and prizes, and interest-free loan options for the purchase of at-home fitness equipment.
What advice would you offer to other firms to become a Best Firm for Young Accountants?
BeachFleischman: Accounting firms are often characterized as stressful with tight deadlines and mounting loads of work. It is important for firms to promote a healthy, well-balanced lifestyle. We understand that our employees have lives outside of work and that is why we are continuously improving our workplace culture by providing wellness programs and flexible work schedules that promote a healthy, balanced life.
WilkinGuttenplan: Listen to your employees! We love feedback and embrace the opportunity to help make changes that make sense for the future leaders of our firm.
Henry+Horne: Stay connected, implement new ideas, and be open to changes. [Don’t] be threatened by that change, but rather see your young accountants as having the insight you need to stay relevant in a rapidly changing industry.
Windham Brannon: As with all things, begin with your end in mind. Creating a workplace that is geared towards an employee’s best interest begins with the employee or target employee. … Ask current and potential employees about their wants and needs. Determine what’s feasible, build a plan, and inch your way to the goal. This isn’t a short-term goal and remember to be flexible and evolve as needs change.
Hancock Askew & Co.: Stay up to date with industry trends in terms of benefits and perks you can offer. Most importantly, encourage a culture where employees come first and they feel appreciated for their contributions and hard work.
Mahoney CPAs: Let [young accountants] run with projects and opportunities.
Maner Costerisan: Involving [young accountants] in committees, involving them in change and change management, and involving them in decision-making increases their level of engagement and ownership of their work.
Brown Schultz Sheridan & Fritz: You learn so much by truly listening and understanding where your team is coming from. Each team member brings their own unique perspective, and it is “old school” to think that a one-size-fits-all approach will work as we continue as an industry, especially as firms begin to rethink what a workspace looks like. Not every young accountant wants to work remotely 100% of the time — finding that balance aligned with providing extraordinary client service is key.
