Bob Moritz, the Chairman of PwC, in an article via Harvard Business Review, talks about how the firm has changed and what they must now do to engage (and retain) their young, Millennial workforce.
I have been attempting to help CPAs better understand Millennials for almost a decade and I believe that many CPA firm leaders have embraced proven trends in hiring and keeping top talent (which are Millennials and many of them female).
I think you will find Moritz’s comments very interesting – I know most of you keep an eye on what the Big Four are doing.
Some tidbits from Mr Moritz follow…. but please read the entire article here.
- Things have definitely changed in the three decades I have been with the firm.
- Bigger bonuses and promotions went to those who sacrificed more of their personal lives, whereas our current HR policies primarily reward quality and value the work and life needs of every person.
- Millennials are vocal and extremely globally oriented – they know and care much more about what’s going on all over the world than I did at their age.
- PwC’s Millennials don’t only demand to know the organization’s purpose – its reason for being – but are prepared to leave the firm if that purpose doesn’t align with their own values.
PwC studied their Millennials and have made significant changes in their HR practices. PwC Boomers accepted the notion of making partner as the reward and justification for years of long hours in service to clients. But their current studies revealed that the allure of someday becoming partner is no longer enough to spark high levels of engagement.
Again, follow the link and read the article – it is very interesting and informative.
About the Author
Rita Keller is the Founder of Keller Advisors, LLC and SurveyCPA, LLC. She is a widely respected voice to CPA firm management. Through her presentations and workshops, she interacts with thousands of accountants annually. Named as one of the Top 100 Most Influential People In Accounting and one of The Most Powerful Women In Accounting, she acts as an advisor and coach to CPA firm leaders across the country. She can be reached at email@example.com.