In recent years, the accounting industry has made great strides in improving workplace inclusion and talent development. Yet even with these advances, Canadian Industry Snapshot: Advancing Talented Individuals in Accounting Firms shows that accounting firms are not maximizing talent management strategies and that areas for improvement exist.
Using data from Career Advancement in Corporate Canada: A Focus on Visible Minorities ~ Survey Findings (2007), this snapshot highlights strategies that firms can take to increase employees’ career satisfaction and commitment to their firms, thereby reducing turnover among talented individuals.
Findings revealed that respondents had higher career satisfaction and commitment to their firms when they understood how their firm identifies and advances the most talented individuals, how stretch assignments are distributed, and what the firm's unwritten rules are.
Women in general, and women associates in particular, reported lower awareness of how their firms manage talent, fewer opportunities to receive stretch assignments, and a higher likelihood of working for a manager who fails to explain their firm's unwritten rules. As Canada’s accounting firms search for the best talent to lead the firms of tomorrow, they will need to ensure that talent management systems are transparent.
Canadian Industry Snapshot: Advancing Talented Individuals In Accounting Firms is based on research conducted by Catalyst and the Diversity Institute in Management & Technology at Ryerson University in Toronto that was sponsored by Deloitte & Touche, IBM Canada, the Ontario Ministry of Citizenship and Immigration, and RBC.