In October of last year I published an article in Accounting Today magazine titled “Managing the Millennials…Firms must deal with their changing expectations.” In the article I discuss how accounting firms are finding themselves stuck between the way the business has been run for decades and the changing expectations of Millennials as they consider their long-range career track. I made the argument that :
“Accountants and auditors are valued precisely because of their deep knowledge and expertise, so radically altering the business model is unrealistic. Yet the looming demand for accounting services and the shrinking talent pool give urgency to finding ways to accommodate the expectations of young workers.”
Millennials want to develop their skills, be challenged and not pigeonholed into one job or function for the rest of their career (sound familiar?). Cross-training is considered a valuable growth opportunity as Millennials develop skills that give them mobility. In the article I urge accounting firms to start the conversation now on how to better grow and develop this need in their young talent.
Well is seems the PricewaterhouseCoopers Chairman Dennis Nally may have read my article. In a recent issue of The Wall Street Journal, when asked what is the biggest challenge for companies when trying to recruit talented staff, Nally responded with:
“This millennial generation is not just looking for a job, they’re not just looking for salary and financial benefits, they’re looking for skill development, they’re looking for mobility, they’re looking for opportunities to acquire different skills and to move quickly from one part of an organization to another. How you manage that sort of talent and how you deal with their expectations is very different from what’s been done in the past.” (July 11, 2011, “PwC Chairman Aims to Keep Millennials Happy”)
Mr. Nally – I couldn’t agree more and if my article helped you formulate your people strategy I am pleased it was of use to you. To other companies, not just accounting firms, it is time to understand how the needs of the Millennials regarding career growth and future expectations are changing your workplace and workforce.
*Please note – SBR Consulting, LLC is becoming Randall Research… Data-driven solutions for people-driven companies™. Our services have not changed but our new name better reflects our core mission of using data to drive employee engagement and productivity. Our new website will be www.randallresearch.com. *