Women's Initiative Programs for Women in Accounting Careers

From my experience in working in public accounting over the last 10-plus years, I have found it to be a very positive and rewarding career choice for women. I have also been fortunate to have many female professionals as role models in high level positions within my firm. Two out of our three department heads are women, and I work alongside a number of other women in executive, decision-making positions. However, in the last decade, many firms, both large and small, have been actively researching and implementing a variety of women’s initiative programs due to retention concerns. Whether it’s by implementing flexible work arrangements or other work-life balance programs, many firms are recognizing the importance of developing programs designed to attract and retain talented female professionals.

Why are firms doing this? Today, studies show that more than 50% of college students studying business and accounting are women, and this trend has been increasing over the last 10 years. A similarly high percentage of graduates starting at public accounting firms are also women. However, many firms are finding that women are leaving the firm at a higher percentage than men and if they are not leaving, they are not making partnerships at the same level.

These low retention statistics amongst talented female professionals can be very costly to a firm of any size. Firms have been coming to realize that women look for certain factors with regard to their careers that are often very different from their male counterparts. If these differences can be addressed successfully, retention will increase, and projects can still be completed in an efficient and effective manner which is a win-win situation for any firm’s bottom line. The following are some of the types of programs that many firms have implemented.

• Establishing women-specific leadership/mentoring programs
• Supporting flexible schedules
• Building goals and accountability programs
• Establishing a ''gender equity'' task force or its equivalent
• Part-time partnership track programs
• Family leave policies

Mentoring and leadership have been shown to be one of the most successful programs in the area of women’s initiatives and have been rated very high by women who have been surveyed about the types of programs they would like to see implemented at their firm. As many young women are entering the workforce, they are looking at women in senior management and other supervisory positions as role models and for guidance, even if a formal mentoring program is not in place.

It is important for firms who want to start a women’s initiative program to research what works and what doesn’t, get feedback from inside the organization, and start with the tone at the top. For a successful women’s initiative program to be implemented, it is critical to have the support from all levels within the organization, but especially from top management. Some firms have developed communication and other informational programs to effect policy changes and awareness in this area. With the difficulty most firms are facing regarding a shortage of talented business and accounting professionals, it only makes sense for firms to find ways of attracting and retaining, not only women, but the ever increasingly diverse and talented workforce that exists today.