Are We Listening?

The 2024 NJCPA Convention & Expo, themed “Your Story. Your Success,” informed, entertained and connected more than 600 attendees with storytelling at the Borgata Hotel in Atlantic City on June 11-14. We hope you were one of them.

Keynote speaker Sandra Bodin-Lerner, MA, owner of Be Compelling! LLC, explained the value of “effective listening” or understanding the speaker’s emotions and what they wanted someone to take away from the conversation. Good listening is a valuable skill, she added, and it can be taught. “Being heard is crucial to our self-worth. Everyone wants to be understood. It’s important to matter at work,” she explained. 

Following our convention, I flew out to Las Vegas for the 2024 National Association of Black Accountants (NABA) Convention & Expo. Hundreds of students and recent graduates from across the country attended to hear presentations about opportunities in accounting, personal branding, networking and leadership. I listened intently as they asked questions of the seasoned professionals and, in some cases, expressed frustrations with accounting and finance employers. 

It would be easy to dismiss their “complaints” as typical generational badmouthing, but as I took note of their disappointment around the absence of willing mentors, a lack of skills training and an unwillingness to provide time to study and sit for the CPA Exam, a thought occurred to me: Are we listening to our young professionals? We have a great opportunity to not only hear them but act. 

In a 2023 study, Righting Retention: A Look into the Accounting Profession’s Greatest Management Challenge, the Illinois CPA Society asked employers about their talent management offerings and asked employees about programs they value. They found a significant disconnect:

• 67% of employees view “career advancement paths and opportunities” as one of the most attractive benefits in an employer, but 48% of employers don’t communicate defined advancement paths for employees (or don’t know if they do).

• 30% of employees ranked “mentors/mentorship program” as a top need, but nearly 43% don’t offer a mentorship program, formal or informal, to foster employee retention (or don’t know if they do).

Results from a May 2024 KPMG study contrasted the stereotypical lazy, job-hopping Gen Z (born 1997 to 2013) narrative.

• When asked for the top three factors they value most in a future employer, respondents not surprisingly identified salary as most common (25%), but that was followed closely by a positive culture and working environment (24%) and opportunities for advancement (20%).
• 89% agreed or somewhat agreed that access to training on “soft skills” or professional skills (e.g., presentation skills, executive presence, client etiquette, interpersonal skills) is an important factor when considering a job/employer.
  

There is a dynamic level of energy from Gen Z on building their skillsets to grow in their careers. They have high expectations around transparency and are very willing to have conversations around salary, mental health challenges, work-life balance and career mobility. 

In the simplest terms, employees want to feel heard and supported. It’s up to company leaders to navigate these expectations if they want to remain competitive in the current labor market.

Where possible, employers should highlight the career pathways and options available for their people — both in the overall organization and specific to each individual. Investing in skills development and career advising will support people in advancing their careers within the organization.

We want to hear from you. Tell us how you are supporting your staff to improve recruitment and retention. And please take a look at the essential skills courses we’re offering.