Gender Diversity in Accounting
Accounting services are critical to businesses across the world, but the data show a troubling picture of the industry’s ability to advance with the times and prepare for the future.
A CLOSER LOOK:
More than 11.6 million businesses seeking accounting services are owned by women, and they employ 9 million people and generate $1.7 trillion in sales.
Only 2% of firms include a formal plan for incorporating and leveraging female talent. As a result, there are huge gaps in ownership levels between men and women, and the larger the firm, the greater the gap.
Over the course of ten years (from 2010 to 2020), there will be an estimated increase of nearly 14% in jobs in the accounting and auditing field. Despite a 50/50 split in male-to-female ratios in students studying for careers in accounting, few organizations are adapting their environments and cultures to attract and retain female talent.
Barriers for the advancement of women in the accounting profession fall into three categories: career advocacy and advancement, lack of visible female role models, and work/life integration. Tackling these challenges may help to attract female talent and retain it.
WHY IT MATTERS:
Failure to incorporate women in leadership succession plans puts firms at a competitive disadvantage.
Losing women at the executive level represents a significant loss in firm investments.
Firms that promote and encourage diverse workforces demonstrate more nimble leadership responses to complex business issues.
Statistics show that firms with diverse leadership teams outperform those with homogenous leadership teams in the accounting industry.
HOW GILD CAN HELP:
Gild Collective offers services that can help your firm create a workplace strategy that advances women at all levels: