2011 Accounting MOVE Report focuses on Gen Y Women; Partnership Pipeline; and Measurement Strategies

May 2, 2011 (Chicago, IL) – According to The 2011 Accounting MOVE Project Executive Report, released today, the next generation of top accounting professionals will bear little resemblance to the male-dominated leadership ranks currently occupying corner offices. Since over half of today's accounting grads are women, public accounting firms must rapidly realign professional development programs to reflect the ambitions of these professionals. If they do not, firms simply cannot remain competitive and will not have enough partners for an orderly transition when baby boomers are ready to retire.

The 2011 Accounting MOVE Project Executive Report focuses on the expectations of millennial women for their careers in accounting. Based on dozens of interviews, reviews of best practices at 25 firms, and statistical analysis, the report found that:

• Progressive firms, such as Rothstein Kass of Roseland, NJ, have designed business development programs to help eager millennials gain networking skills essential for winning clients.
• Firms such as Moss Adams, of Seattle, have discovered the power of career advisors and one-on-one conversations critical to helping women millennials envision how they can craft career paths that encompasses their personal and family pursuits.
• Pay equity and workplace fairness are top-of-mind for women millennials, and they seek the kind of transparency on these topics offered by progressive firms such as Plante & Moran, Clifton Gunderson and Baker Tilly.
• Millennial women are already attracted to careers in public accounting partially because of the profession's reputation for work-life innovation. But firms must re-interpret those programs to explicitly include millennial men. If they don't, firms will lose credibility with both millennial women and men.

"The data and analysis of millennials in The 2011 Accounting MOVE Project Executive Report provides new and compelling reasons why career advancement for women of all ages must be actively cultivated in order for accounting firms to stay competitive,” said ASWA President Vivian Moller. "The recommendations of this report need to be implemented to retain the fresh talent millennials offer and increase the number of women partners in order for firms to succeed into the future.”

The 2011 Accounting MOVE Project Executive Report also expands on themes introduced in the inaugural 2010 report:

• Women are pulling in new clients through innovative business development programs.
• Pay equity must be validated by audits and reviews to validate women's trust in firm leadership.
• Firms that publicly communicate the results of their diversity programs -- not just their activities -- rapidly gain authority with clients, employees and potential recruits.

The Accounting MOVE Project is produced by strategic communication firm Wilson-Taylor Associates, Inc., in partnership with the American Society of Women Accountants (ASWA) and the American Woman's Society of Certified Public Accountants (AWSCPA). Charter sponsor Moss Adams was joined by Rothstein Kass in providing support for the project.

"The 2011 Accounting MOVE Project Executive Report is a compelling call to action. After reading it, many firms -- even those that pride themselves on being forward-thinking when it comes to women and millennials -- will realize they have a lot to learn and even more to do. The report, derived from personal stories that reveal common experiences, contains detailed recommendations relevant to public accounting firms of every size. The MOVE Project has quickly become a go-to resource and a powerful tool to trigger organizational self-examination and soul searching,” said Tammy Young, Managing Director of Human Resources at Moss Adams LLP. "Moss Adams is pleased to contribute to research and dialogue that promotes important changes in the culture of public accounting. Our founding and ongoing sponsorship of the project is a testament to the priority we place on the success and advancement of women in our industry.”

"The research conducted regarding millennials noted that both women and men of that generation are concerned about balance between their work lives and their family/personal lives. Millennials have grown up with technology and the fast paced changes in our business climate. Integrating their personal ambitions, millennials are leading the initiatives in the use of social media for business. They are smart and innovative, and do not want to be in a stagnant work environment,” said Kimberly A. Fantaci, Executive Director of the American Woman's Society of CPA's. "The MOVE report discusses further characteristics of the millennial generation, and notes ways in which to advocate and mentor these women.”

The project is based on the MOVE methodology, developed by research partner Wilson-Taylor Associates, Inc., to capture the factors proven essential to women's career success: M – Money: fair pay practices; O – Opportunity: advancement and leadership development; V – Vital supports: work-life programs that remove barriers; and E – Entrepreneurship: operating experience for managing or business ownership. "Young women are eager to gain traction in their accounting careers. The best practices outlined in The 2011 Accounting MOVE Project Executive Report equip them to choose firms where they can quickly get to cruising altitude,” said Joanne Cleaver, president of Wilson-Taylor Associates, Inc.

"The introduction of our LIFE Program – Leadership, Inspiration, Family and Empowerment –at Rothstein Kass five years ago formalized our commitment to understanding and enhancing career opportunities for women professionals within our firm. Our culture promotes collaboration across organizational levels and business groups and has helped to catalyze initial excitement regarding our women's initiatives into meaningful events and actionable advice. In the process, we were reminded of a fundamental factor in the success of corporate leadership initiatives – to be effective over the long-term, these programs must be inclusive, drawing from the insights and experiences of both men and women to promote a ongoing dialogue to support sustainable improvements,” said Rosalie Mandel, a Principal at Rothstein Kass and Co-Founder of the LIFE Program. "Our participation in the MOVE Project has provided us with a forum for sharing the benefits of our experience more broadly, and, at the same time, learn from others that have adopted innovative approaches to empowering women in the accounting space.”

The ASWA and AWSCPA's list of the Best Accounting Firms for Women will be released in mid-May, based on the 2011 Accounting MOVE Project research.

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