Graduation season is past, and, after a nontraditional year, 2021’s accounting graduates are poised to enter one final unchartered territory: the post-COVID workplace.
Demands are changing fast, for both employers and prospective employees. Accounting firms are rushing to balance post-COVID office and industry conditions with the competitive search for talent that can bring new, needed skills to the table — from data analytics and coding, to enhanced communication and client counsel capabilities.
Entry-level accounting professionals, meanwhile, are asking about tech stacks and work-from-anywhere policies on top of prioritizing professional development pathways, engagement, and transparency. Matching up expectations will be challenging but essential in this competitive environment.
As the talent war wages on, here’s how firms can better align with (and recruit!) new accounting graduates to deliver increased value — both for their new employees and for clients.
To start, don’t forget that mentoring and creating a supportive environment for career growth are
Beyond that, remember that each generation is motivated by different things. It comes down to understanding these young professionals and what they really want.
1. Respect their digital fluency. Today's tech-raised, digital native employees don't want to handle things manually when it could be done faster and better with technology. When they are weighing options and considering job offers, it’s more important than ever for them to be able to see how their work will impact the bigger picture and how they’ll spend their day-to-day at the firm. If it comes down to a decision between touching 500 pieces of paper or reviewing data that was automatically entered into a system while they were free to multitask, it likely won’t be a difficult decision to make.
2. Make valuable offers — based on what they value. Don’t worry about competing with the shiny nap pods, dining halls, on-site gyms and flashy campuses of Silicon Valley. Studies broadly show that big-ticket perks are quickly becoming less of a priority for the younger generations, who are placing greater value on having their contributions recognized; taking positions where they can be elevated quickly to contribute at a bigger-picture-focused higher level; apply creative and critical thinking; and have access to mentorship, networking, education and training opportunities. In the same way that fresh graduates can bring holistic, across-the-board value to your organization, they’re looking for that same potential from the organizations they join. Plum job benefits that wowed previous generations — from health care and paid vacation to retirement planning tools and even tuition stipends — are becoming the expectation, not the dream.
3. Keep their options open. Staff are gradually returning to the office as COVID-19 wanes — but not everyone is happy about it, with some electing to quit rather than return to the more rigid structure of pre-pandemic full-time onsite work. A May survey found that 39% of U.S. adults would consider quitting if their employers weren’t flexible about remote work, a figure that jumped up to 49% among millennials and Gen Z. That’s not to say the only way forward is to switch to a remote, off-hours firm schedule — but flexible options and a culture that allows them to be used are key.
4. Practice what you preach. Even for small firms, corporate responsibility has never been a bigger part of public conversation, especially for the younger generations. After the civil rights activity of last year — coupled with the fact that most 2021 graduates don’t have office experience outside of internships to use as a measuring stick — businesses are under a microscope. As the class of 2021 emerges into the workforce, it’s of key importance to them to align with organizations that take care of their employees, work hard on diversity and inclusion, and invest in their talents’ professional growth. In other words: Make sure you’re working hard to be a place where people want to work — hard! Make it clear what your firm’s values are, what you stand for and what goals you’re executing against.
With a busy tax season (mostly) in our collective rearview mirror and summer upon us, the class of 2021 will be hitting the job market with enthusiasm. Chances are, you’re taking strides at your firm to innovate, improve and think strategically about the future. Above all, don’t forget to communicate the how, why and when of those changes to the talent you’re working to recruit — they just might be able to help make it happen.
