1 / 60

Findings from Our 2016 Anytime, Anywhere Work™ Survey and The IPA Road To Retention Survey

Findings from Our 2016 Anytime, Anywhere Work™ Survey and The IPA Road To Retention Survey. Facilitated by: Jennifer Wilson and Tamera Loerzel October 7, 2016 #CCLLC, @JenLeeWilson, @TameraLoerzel. “To win in the marketplace you must first win in the workplace.”. Doug Conant

mgraves
Télécharger la présentation

Findings from Our 2016 Anytime, Anywhere Work™ Survey and The IPA Road To Retention Survey

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Findings from Our 2016 Anytime, Anywhere Work™ Survey and The IPA Road To Retention Survey Facilitated by: Jennifer Wilson and Tamera Loerzel October 7, 2016 #CCLLC, @JenLeeWilson, @TameraLoerzel

  2. “To win in the marketplace you must first win in the workplace.” Doug Conant Former President and CEO, Campbell’s Soup

  3. The Road To Retention • In late 2015, ConvergenceCoaching partnered with INSIDE Public Accounting to conduct a survey designed to learn the motivators, values, aspirations and changes to the profession most desired by young professionals • 723 young professionals ages 21 to 40 participated • Together with INSIDE Public Accounting, we published “The Road to Retention: Motivators and Drivers for Young Public Accounting Professionals.”  • The feedback was both encouraging and enlightening for the areas where firms are successful or can improve

  4. Top Factors To Stay In Public Accounting • The top factors that affect whether young professionals stay in public accounting include: • Work-life balance – 1.7 • Compensation – 1.8 • Advancement potential – 1.9 • Flexible scheduling – 1.9 • Peers or coworkers – 2.1 Source: The Road to Retention: Motivators and Drivers for Young Public Accounting Professionals A Joint Survey from Inside Public Accounting and ConvergenceCoaching, LLC

  5. Top Factors To Stay In Public Accounting • Appreciation and recognition – 2.1 • Retirement plans / Benefits – 2.3 • Relationship with firm leaders – 2.3 • Quality of clients – 2.4 • Educational opportunities – 2.6 • Community service opportunities – 3.3 • Work-life balance was the top factor in staying in the profession (and flex scheduling was fourth) • This should be a wake-up call to firms who haven’t made strides in enhancing this area! Source: The Road to Retention: Motivators and Drivers for Young Public Accounting Professionals A Joint Survey from Inside Public Accounting and ConvergenceCoaching, LLC

  6. Most And Least Enjoyable Elements Of Public Accounting

  7. What Do Young Professionals Like? • Young professionals most enjoy these elements of work: • Working directly with clients – 63% • Firm culture – 61% • Working collaboratively as part of a team – 52% • The constant challenges and changes – 49% • Working independently – 44% • Learning about the industry or enterprise they serve – 40% Source: The Road to Retention: Motivators and Drivers for Young Public Accounting Professionals A Joint Survey from Inside Public Accounting and ConvergenceCoaching, LLC

  8. What Do Young Professionals Like? • Relationships with top management – 35% • Technology making it easy to work any time – 32% • Firm values – 29% • The impact of their work – 28% Source: The Road to Retention: Motivators and Drivers for Young Public Accounting Professionals A Joint Survey from Inside Public Accounting and ConvergenceCoaching, LLC

  9. What Don’t Young Professionals Like?

  10. Generational And Gender Insights

  11. Generational Insights • How do they feel about their more experienced leaders? • Young professionals cited the respect and admiration that they have for leaders and a desire to learn more from them • They want more communication and opportunities for development and mentoring • Young professionals don’t want to be viewed as entitled and impatient, but do want to learn and contribute to the firm and their team’s goals • Respondents wish to see more empathy shared among all generations Source: The Road to Retention: Motivators and Drivers for Young Public Accounting Professionals A Joint Survey from Inside Public Accounting and ConvergenceCoaching, LLC

  12. Gender Differences • Women start out feeling their skills are properly utilized, but this drops off as they progress. • Men strongly agree that their firm recognizes and makes full use of their skills and this feeling increases with the years of experience, from 39% to 45%. It’s the opposite for women, where the feeling that their firm makes good use of their skills declines as they age, from 47% to 38%. • Females become less certain of what it takes to advance with age. Of women aged 21-33, 45% strongly agreed that they know what it takes to advance in their career, but this declined to 34% for women ages 34-40.This murkiness on the path to partner was an issue for men, too. Source: The Road to Retention: Motivators and Drivers for Young Public Accounting Professionals A Joint Survey from Inside Public Accounting and ConvergenceCoaching, LLC

  13. Gender Differences • As women progressed, their respect for firm leadership declined. As men progressed in their careers, their respect for firm leadership grew. • Fewer women plan to become partner than men. Of female respondents,32% indicated that they plan to become partner compared with 51% of their male counterparts. Source: The Road to Retention: Motivators and Drivers for Young Public Accounting Professionals A Joint Survey from Inside Public Accounting and ConvergenceCoaching, LLC

  14. Gender Differences • Other notable responses from women: • For women, the feeling that their workload is reasonable declined as they mature, moving from 39% to 28%, while men’s feelings that their workload is reasonable increased from 35% to 42%. • Cited work-life balance and flexible scheduling as the #1 and #2 most important attributes that determine if they’ll stay in public accounting • They’d like to see their firms improve in competitive benefits and providing a reasonable workload Source: The Road to Retention: Motivators and Drivers for Young Public Accounting Professionals A Joint Survey from Inside Public Accounting and ConvergenceCoaching, LLC

  15. Gender Differences • Notable responses from male participants: • Cited work-life balance and compensation as #1 and #2 most important attributes that determine if they’ll stay in public accounting (career advancement was a close third!) • They’d like to see their firms improve in innovation and in involving them in the firm’s vision • Their understanding of what it takes to advance lessens with age Source: The Road to Retention: Motivators and Drivers for Young Public Accounting Professionals A Joint Survey from Inside Public Accounting and ConvergenceCoaching, LLC

  16. 2016 Anytime, Anywhere WorkTM Survey Results

  17. Our Anytime, Anywhere Work Survey • Earlier this Spring, ConvergenceCoaching launched our 3rd annual Anytime, Anywhere Work survey • We received responses from 160 public accounting firms • 61% of respondents were either HR professionals or Firm Administrators • 20% were Managing Partners or CEOs • The remainder were Partners, Managers or Marketing professionals

  18. Participant Firm Size

  19. Flexing Time • 97% of the firms surveyed allow team members to flex hours with programs like flexible start and end times, part-time schedules, 4-day work weeks, etc. • 68% allow these benefits with no disclaimer • 29% allow team members to flex time but only on a limited, informal, or case-by-case basis • 2% don’t allow these benefits • 1% are thinking about offering them

  20. Core Hours Policy • 61% of the firms surveyed have a core hours policy • 34%don’t have a core hours policy • 5%of firms surveyed are thinking about implementing a policy

  21. Core Hours Policy

  22. No Mandated Saturdays • 39%no longer mandate Saturday office hours • This result was 36% in 2015 • 58% of firms still mandate Saturday office hours, either through firm policy or by holding team meetings or other mandatory events on Saturday mornings • 3%are thinking about eliminating mandatory Saturday office hours

  23. No Mandated Saturdays • 50% of the firms who do mandate Saturday hours allow team members to work them from home

  24. Fridays Off In Summer • 51%offer some sort of Fridays off benefit during the summer • 22% close the office for a partial or full day every Friday during the summer • 9% close the office on some Fridays during the summer • 20% keep the office open and take turns working Fridays • 43% do not offer this type of benefit • 6%of respondents are thinking of offering this benefit

  25. Unlimited Time-Off Programs • 5%offer an unlimited time-off program • 82% do not offer this type of benefit • 13% are thinking about offering this type of program

  26. Other Full Production Flex-Time Programs • Day-to-Day Flex Time • Early Start / Late Start • Compressed Work Week • Flexible Non-Core Hours • No Mandatory Saturdays • Shortened Work Weeks During Non-Peak Times (i.e. Fridays Off) • Unlimited PTO

  27. Partial-Production Flex-Time Programs • Part-Time • 40 Hour Work Week (Zero Overtime) • Reduced Hours Off-Peak

  28. Flexing Place • 94% of firms indicated they allow team members to choose their place of work with programs like work-from-home, work from a remote location, drop-in offices, etc. • 45%allow these benefits with no disclaimer • 49%allow team members to choose their place of work but only on a limited, informal, or case-by-case basis • 6% don’t allow these benefits

  29. Work-From-Home • 84% of firms indicated they allow team members to work from home • 40%have team members who regularly work from home • 44%have team members who occasionally work from home • 14% do not offer this type of benefit • 2% are thinking about offering a work-from-home program

  30. Remote Workers In Another Geography • 42%retained a team member who moved to another geography to continue working for the firm • 15%recruited an employee from another geography to work remotely for their firm • 42% do not offer this type of benefit • 1%are thinking about employing remote workers in another geography

  31. Flex of Place – Types Of Programs • Day-to-Day Anywhere Work • Work from Home • Remote Team Members • Drop-in Offices • “Virtual offices locations” may be more cost-effective in some geographic areas (rather than expanding office space in your LA office) • Public Location Drop-in • Working from the Client’s Office • Virtual Audit Work

  32. Develop A Policy

  33. Positive Results

  34. Negative Results

  35. Thank You! • Contact us at any time and connect with us: Jennifer Wilson (402) 933-2900 Jen@convergencecoaching.com http://www.linkedin.com/in/jenniferwilsonprofile http://twitter.com/JenLeeWilson Tamera Loerzel (952) 226-1780 tamera@convergencecoaching.com http://www.linkedin.com/in/tameraloerzel http://twitter.com/tameraloerzel

  36. Resources

  37. ConvergenceCoaching Resources • ConvergenceCoaching’s web site includes information at: • www.convergencecoaching.com • Read our Coaching Concepts newsletter: • http://www.convergencecoaching.com/coachingconcepts/ • Visit our blog for posts on these topics: • www.convergencecoaching.com/blog • Visit our learning center for access to additional courses and our Leadership and Communication, HR, Marketing and Sales Toolsets: • http://www.convergencelearning.com

  38. ConvergenceCoaching Resources • Visit us on Facebook: • http://www.facebook.com/convergencecoaching • Visit us on LinkedIn: • https://www.linkedin.com/company/convergencecoaching-llc • Visit us on Google+: • https://plus.google.com/+Convergencecoaching • Visit us on Instagram: • https://www.instagram.com/convergencecoaching/

  39. Inside Public Accounting Survey • “The Road to Retention: Motivators and Drivers for Young Public Accounting Professionals” by Inside Public Accounting and ConvergenceCoaching, LLC • http://blog.insidepublicaccounting.com/2016/06/inside-public-accounting-and-convergencecoaching-study-young-public-accounting-professionals-releases-the-road-to-retention/

  40. Cultural Resources • “2011 PCPS Top Talent Survey” • http://www.aicpa.org/interestareas/privatecompaniespracticesection/humancapital/downloadabledocuments/toptalentstudy2011.pdf • “A Dozen Public Accounting Ideas That Don’t Work Anymore” by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2013/CPA/Jun/AccountingIdeas.jsp • “Are Mandatory Saturdays A Thing Of The Past?” by Jennifer Wilson • http://www.convergencecoaching.com/are-mandatory-saturdays-a-thing-of-the-past/ • “Does Your Firm Have A Vision For Its Future?” • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2012/CPA/Jan/VisionForFuture.jsp

  41. Cultural Resources • “The Eight Attributes of High Functioning Firms” by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2014/CPA/MAY/high-functioningfirms.jsp#.U39BSPldWoV • “Engage Your People By Being Grateful” by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2010/CPA/Dec/BeingGrateful.jsp • “Engaging for Success: Enhancing Performance Through Employee Engagement” • http://dera.ioe.ac.uk/1810/1/file52215.pdf • “Failure is a Good Thing – Really!” by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2014/CPA/Jan/GoodThing.jsp • “Firms Continue to Migrate Away from Time and Place” by Jennifer Wilson • http://www.convergencecoaching.com/firms-migrate-away-from-time-and-place/

  42. Cultural Resources • “Five Simple Steps To Ensure Expectations are Met” by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2013/CPA/Nov/ExpectationsMet.jsp • “Five Ways To Demonstrate True Ownership” by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2013/CPA/Dec/TrueOwnership.jsp • “Great Leaders Gather Feedback” by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2012/CPA/Apr/LeadersGatherFeedback.jsp • “Harness the Power of Team” by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2011/CPA/Mar/HarnessPowerTeam.jsp • “Having It All Isn’t Just a Women’s Initiative” by Tamera Loerzel • http://www.convergencecoaching.com/having-it-all-isnt-just-a-womens-initiative/

  43. Cultural Resources • “How Flexible Is Your Firm? by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2010/CPA/Oct/FlexibleFirm.jsp • “How to Improve Employee Morale” by Dori Meinert • http://www.shrm.org/publications/hrmagazine/editorialcontent/2015/070815/pages/070815-morale-boosters.aspx • “How to Keep Leaders from Leaving Public Accounting” by Jennifer Wilson • https://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2013/CPA/Oct/KeepLeaders.jsp#.U02ndPldWoU • “In Pursuit of Inclusion: New Initiatives Will Focus on Racial Diversity” • http://www.journalofaccountancy.com/Issues/2012/Jun/20114925.htm • “Impact of Anytime, Anywhere Work,” Journal of Accountancy • http://bcove.me/n7ny8jft

  44. Cultural Resources • “Is Complacency Holding You Back” by Jennifer Wilson • https://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2013/CPA/Aug/ComplacencyHolding.jsp • “Is Your Firm Old School or Cool?” by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2011/CPA/Nov/FirmOldSchoolOrCool.jsp • “The Leadership Cycle: The Parallel Paths of Career and Firm Success” by Jennifer Wilson • http://www.journalofaccountancy.com/Issues/2013/Jun/20137148.htm • “The Limits of Unlimited Vacation” by Susan Milligan • http://www.shrm.org/publications/hrmagazine/editorialcontent/2015/0315/pages/0315-unlimited-vacation.aspx

  45. Cultural Resources • “Look Before You Leap – What You Need to Know Before Instituting an Unlimited Vacation Policy” by CultureRX, LLC • https://cdn.shopify.com/s/files/1/0574/0229/files/UnlimitedVacationEbook.pdf?mc_cid=2db8003b60&mc_eid=81d4390e50 • “Making Saturdays Optional: An Idea Revisited” by Tamera Loerzel • http://www.convergencecoaching.com/making-saturdays-optional-an-idea-revisited/ • “Managing Change Successfully” by Jennifer Wilson • http://www.journalofaccountancy.com/issues/2014/apr/change-management-20139196.html • “Millennial Women: How to Woo a New Generation of Employee • http://www.journalofaccountancy.com/issues/2015/jul/millennial-women-talent-hiring.html

  46. Cultural Resources • “Millennials Will Lead Us to Success” • http://www.accountingtoday.com/ato_issues/26_11/Millennials-will-lead-us-to-success-64471-1.html • “Nine Complaints To Let Go Of” by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2014/CPA/JUN/Nine_complaints.jsp • “Nine Complaints Young CPAs Need to Let Go Of” by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2014/CPA/AUG/9complaintsneedletgo.jsp • “Opportunity and Balance: Is Your Organization Ready to Provide Both? “ • http://www.journalofaccountancy.com/Issues/2005/May/OpportunityAndBalanceIsYourOrganizationReadyToProvideBoth.htm • The Red Rubber Ball at Work: Elevate Your Game Through the Hidden Power of Play by Kevin Carroll

  47. Cultural Resources • Rules of the Red Rubber Ball: Find and Sustain Your Life’s Work by Kevin Carroll • “Six Ways You Can Earn Loyalty” by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2013/CPA/Jul/EarnLoyalty.jsp • “Starting a Women’s Initiative at Your Firm • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2015/CPA/JUL/WomenInitiativeFirm.jsp • “Technology Is a Strategic Enabler, Really!” by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2012/CPA/May/StrategicEnabler.jsp • “United We Thrive, Divided We Fail” by Jennifer Wilson • http://www.journalofaccountancy.com/newsletters/2015/oct/six-partner-unity-strategies.html

  48. Cultural Resources • Virtual Work Programs – ConvergenceCoaching Inspired Ideas Newsletter, Issue 31, Winter 2013 • http://www.convergencecoaching.com/coachingconcepts/ • “Want to Keep Your Next Gen Leaders? Make These Changes ASAP” by Jennifer Wilson • http://www.journalofaccountancy.com/newsletters/2016/jun/keep-next-generation-leaders.html • “Want to Make More Money? Focus on Revenue-Producing Behaviors” by Jennifer Wilson • http://www.journalofaccountancy.com/newsletters/2016/apr/revenue-producing-behaviors.html

  49. Cultural Resources • “What Does It Cost to Keep a Producing But Problematic Partner?” by Jennifer Wilson • http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2010/CPA/Jun/ProblematicPartner.jsp • “What Drives Happiness at Work: How Firms Win with a Happy Culture” • http://cpaconsultantsalliance.com/resources/happiness-cpa-firms/ • “Why My People Take 5 Days Off (Yes, in a Row)” • http://cpatrendlines.com/2015/08/24/people-take-5-days-off-yes-row/?utm_source=iContact&utm_medium=email&utm_campaign=Today@cpatrendlines.com&utm_content=2015-08-25+T+vFF • “Why Offer Anytime, Anywhere Work?” by Renee Moelders • http://www.convergencecoaching.com/why-offer-anytime-anywhere-work/

More Related