Embracing a human-first culture: The key to the future of accounting

by Carla McCall, CPA-MA, CGMA

Redefining the value and sustainability of the profession

The accounting profession is at a crossroads, facing a pivotal moment in which it must redefine its value and sustainability to remain relevant in an ever-evolving business landscape. One of my key platforms as AICPA chair is focused on this very issue, emphasizing the need to rethink how the profession is perceived and how it operates.

For far too long, the general perception of accounting has been rooted in outdated stereotypes – many high school and college students still think we spend our days crunching numbers. Professors, too, might not always maintain an external view, often missing out on the transformative impact of technology and the real value accountants bring to businesses. This perception gap must be bridged, and it starts with changing how we talk about the profession. By showcasing the dynamic, technology-driven and strategic role that modern accountants play, we can attract a new generation of talent.

Addressing the talent pipeline: Attract and retain

The AICPA National Pipeline Advisory Group was established to study and address the issue of the talent pipeline in accounting, which has seen a worrying drop-off. Attracting new talent is only half the battle, the real challenge lies in retention. Today's workforce has different expectations, and if we don't evolve our business models and the way we work, we risk losing the talent we so desperately need.

This isn't solely a matter for the AICPA. It's a call to action for all leaders of CPA firms and finance functions!

One “radical” idea gaining traction is the elimination of the billable hour – a shift from input-based to output-based performance measurement. This approach not only aligns with the modern workforce's expectations but also supports a more sustainable and fulfilling work environment. It's about delivering value efficiently, not just logging hours. When staff are incentivized and celebrated for putting new efficiencies into play – whether through AI, firm-wide platforms, or innovative approaches – everyone benefits. The culture is one of growth and discovery, and innovation reduces hours on mundane tasks to make room for more valuable initiatives. Additionally, embracing flexible work arrangements like "work from anywhere" policies and integrating executive coaches into the workplace can significantly enhance employee satisfaction and productivity.

What young CPAs need to know

For young CPAs entering the profession, it's important to understand that the world of accounting is evolving rapidly. The traditional path of working long hours for a paycheck is being replaced by a focus on meaningful, impactful work. Here’s what young CPAs and accountants should keep in mind as they start their careers:

Embrace technology: Technology is transforming accounting from a numbers-focused task to a strategic, advisory role. All accountants (both young and experienced) should be prepared to leverage new tools and software to provide insights and solutions for their clients and companies.
Focus on value, not hours: The shift away from the billable hour model means that what matters most is the value you bring to your clients and companies, not how many hours you work. Think about how you can contribute to your organization’s success and your client's success in meaningful ways.
Seek out human-first employers: Look for companies that prioritize a human-first culture. These are the firms that will support your career growth, work-life balance and personal well-being. A company that values people over profit is more likely to offer a fulfilling and sustainable career path.
Be open to learning and adaptation: The accounting profession is changing, and continuous learning is key. Be open to new ideas, approaches and technologies. Adaptability will be a significant asset throughout your career.
Prioritize work-life balance: Understand that your health and well-being are as important as your career. Find a company that recognizes this balance and supports you in maintaining it.

Prioritizing a human-first culture

Why should companies prioritize a human-first culture? The answer is simple: the world of work has changed. The COVID-19 pandemic forced people to reevaluate their lives and priorities, bringing to light the importance of work-life balance. Across all generations, there's been a shift towards valuing personal time and well-being. The younger generations, in particular, have made it clear that their philosophy is "work to live, not live to work."

Family and health should always come first, yet discussing our lives outside of work was once considered taboo. This way of thinking is outdated, and people are no longer willing to accept it. The opportunity to work differently is here, and we should thank those who are pushing for change. With the technological advancements at our disposal, we can work smarter, not harder, making more money in less time. This should be the goal of every company.

At companies that embrace a human-first culture, staff feel more connected and loyal. They know they are supported, not stifled, which allows them to be more engaged and effective in their work. The goal should be to create an environment where everyone feels comfortable bringing their whole selves to work. This not only includes work-life integration but also a strong focus on inclusion and belonging.

Steps to create a human-first culture

Creating a human-first culture starts with leadership. The tone from the top is crucial. Partners and executives must be aligned, understanding that this approach is not just good for employees – it's good for business. If leadership fails to walk the talk, credibility is lost.

It's essential to clearly define what a human-first culture means for your organization. Write it down, get partner alignment, and build it into your vision or strategic plan. Accountability is key, so put monitoring mechanisms in place – conduct surveys, hold stay interviews, and actively solicit feedback. Culture is not about a single initiative, it's about a series of consistent actions over time. Building credibility that your values are real and lived is essential.

Embracing flexible work models

In today's rapidly changing work environment, it's essential to adapt and be flexible. That's why we advocate for not mandating time in the office. We recognized that requiring staff to be in the office just for the sake of presence is not conducive to a healthy work environment. Instead, we focus on encouraging in-person time for training, mentorship and intentional collaboration – activities that benefit from face-to-face interaction and foster a sense of community and shared purpose.

Our approach to a human-first culture doesn't mean eliminating the office but rather using it as a tool for meaningful engagement. By offering flexibility, we empower our staff to work in ways that best suit their individual needs and lifestyles. This approach ensures that when our team members do come together, it's for a purpose that adds value to their professional development and strengthens our collective goals.

And guess what? This broadens your talent pool, allowing you to hire from anywhere!

Successfully implementing this type of culture requires adjustments in training and performance management, along with accountability from all employees.

Other values that support a human-first culture

At the heart of a human-first culture are the values that guide daily interactions and long-term strategies. Some core values that support AAFCPAs’ culture include:

Gratitude: A culture of gratitude grounds the company. It's about appreciating each other's contributions and recognizing the positives in every situation.
One firm/company: Collaboration is key. By fostering a one-firm/company culture, we can seamlessly work together to help clients solve problems and improve their businesses.
Authenticity over perfection: Embracing authenticity allows people to be themselves, which in turn leads to more inspired and effective leadership. There are many ways to achieve success, authenticity allows for a diversity of thought and approach.
Self-care: Prioritizing self-care ensures that we can bring our best selves to work. If we don't take care of ourselves, we can't take care of others.
Kindness: In a high-stress, deadline-driven profession, it's important to remember to be kind. Mistakes happen, but learning and growing from them is what matters. Granting grace and asking, "What did you learn?" can transform setbacks into opportunities.
Fun: Building fun into everything we do helps maintain a positive and engaging work environment. From department outings to company-wide meetings, creating opportunities for fun strengthens team bonds.
Community impact: Giving back is a cornerstone of a human-first culture. Whether through donating time, talent or treasure, making a positive impact on our communities enriches our own lives and aligns with our values.

The path forward

The accounting profession must embrace these changes to remain sustainable and valuable. By prioritizing a human-first culture, focusing on value over billable hours and embracing new ways of working, we can attract and retain the talent we need to thrive. It's time to acknowledge the evolving expectations of the workforce and seize the opportunity to create a better, more fulfilling work environment for all.

Ultimately, companies that prioritize people over profit will not only enjoy greater employee satisfaction but will also see enhanced performance, client satisfaction and long-term success. The future of accounting is human-first, and it's a future we should all be excited to embrace. Young accountants entering the field today have the opportunity to shape and be part of this exciting transformation, making their careers more impactful and rewarding than ever before.

Carla McCall, CPA-MA, CGMA, is managing Partner at AAFCPAs, chair of the AICPA, former MassCPAs board chair and a 2013 Women to Watch Award recipient. Contact her at cmccall@aafcpa.com.

Reprinted with permission from the Massachusetts Society of CPAs.