Inclusion and Diversity in the World of Professional Services and Accounting

by Bill Bradshaw

Whether age, race, religion, gender identity or sexual orientation, a diverse and inclusive culture allows the synthesis of various lenses to work in unison to meet the organization’s strategic priorities. In professional service firms, specifically accounting – defining and crafting DEI goals and initiatives is critical in fostering a diverse and inclusive culture.

THREE KEY AREAS OF A DEI STRATEGY

When you examine your DEI framework, it’s imperative that you focus on three specific areas to avoid unwanted pitfalls along your journey.

1. Assess your organization’s strategic priority. This step is pinnacle and sets the foundation for the framework of your DEI strategy – ask yourself, what critical areas of your business are you looking to impact by implementing a DEI strategy (i.e., workforce, workplace, marketplace/community).
2. Engage your stakeholders. Accessing the groundswell from your current team members is imperative to gathering and implementing DEI initiatives. Buy-in from the top-down and bottom-up garners champions who will advocate and carry out these initiatives.
3. Define varying DEI definitions and language. Whether spoken or written, how you communicate should amplify your DEI priorities and embody an inclusive tone. Think of how this will shape internal outreach tools and communication around your organization’s DEI strategy.

As you move through your DEI journey – don’t forget to analyze internal workforce trends, such as recruitment, advancement, development and retention. These themes will help shape objectives and metrics that support your workforce goals, such as creating Employee Resource Groups (ERGs).

ESTABLISHING EMPLOYEE RESOURCE GROUPS (ERGS)

ERGs can assist in building cultural awareness, education and serve as a safe space for team members within your organization. They can also help leaders identify organizational policy and process gaps, creating opportunities to enhance company culture, benefits, and retention. Similar to creating an organization-wide DEI strategy, it is essential to develop a solid ERG approach. Identify leaders who are invested in the purpose and mission of your DEI strategy and identify with a cohort of individuals that are representative of your organization’s talent. They will be the ones who help lead your DEI initiatives at all levels. Remember, representation and allyship are lockstep in creating the most successful ERGs.

However, not only should your organization’s DEI initiatives have an internal impact, but they should also reach the margins of your surrounding community. Think about how your organization engages with diverse clients, utilizes benchmarking tools to measure being a “Best Place to Work,” engages with diverse suppliers, and supports and gives back to your local communities.

MEASURING DEI INITIATIVES

Lastly, create key performance indicators (KPIs) to measure the success and effectiveness of your organization’s DEI initiatives. KPIs help identify what works, what needs tweaking and how to continue moving the strategy forward.

People often refer to inclusion as being invited to dance. At Withum, we want all of our team members to dance every day to their own music as #OneWithum. We realize the true fabric of our culture is rooted in our people and the unique perspectives and experiences they bring to work daily. And by embracing that perspective, we’re able to create immense opportunities for our people, clients and communities.