2019 Accounting Move Project Report
Accounting and Financial Women’s Alliance “Connect | Advance | Lead”
I’ve come to the ultimate conclusion that Woman and Minority Leaders in business have *NOT* been giving shot at leading their respective organizations. As such, I’ve decided to re-share this original post I published on Blogger.com back in December 2019. It highlights the Accounting MOVE Project, and the prejudice systemic bias companies have against treating woman and allowing them to lead at the same level as their counterparts.
About the Accounting MOVE Project: M – Money: fair pay practices; O – Opportunity: advancement and leadership development; V – Vital Supports: work-life programs that remove barriers; E – Entrepreneurship: operating experience for managing or business.
3 Key Findings include:
◆ Peer Power: Women’s Peer networks tend to be horizontal, and men’s vertical and transactional
◆ Piercing the Future: Women plot their expectations based on observation and experience
◆ Intervention Builds Retention: Firms strengthen retention by cultivating multiple paths to senior positions
To Retain Rising Women, Invest in Relationships Harvard Business Review reports that “on average, only 18% of Corporate Boards consists of women.” Money: Pay Equity Policies and Practices
◆ 39% of participating Firms conduct Pay equity surveys at the point-of-hire
◆ 39% ” ” by Gender and Race
◆ 64% ” ” by Department
◆ 52% ” ” by Region or Office
Naturally, “men’s and women’s pay starts to diverge dramatically in the 35 – 44 year old category, according to the Bureau of Labor Statistics.” (August 2018 Analysis)
Opportunities for Advancement
◆ 73% of participating firms formally identified high-potential employees
◆ 52% ” ” have formal succession planning
◆ 27% ” ” specifically measure the pipeline of women
Vital Support for Work/Life
§ 79% of participating firms have formal work/life
§ 12% ” ” measure and report the ROI of work/life policies to senior management
§ 76% ” ” train teams to collaborate virtually
§ 73% ” ” managers are trained to evaluate productivity, not just face time.
§ 27% ” ” train managers to manage virtual teams.
“Firms are starting to realize that care-giving is an issue for people of all ages. For Baby Boomers, it could be elderly parents, their own spouses, or their grandchildren.” One Partner Wrote
Entrepreneurship & Business Development
§ 45% of participating firms sponsor or support local entrepreneurs
§ 30% ” ” sponsor external business competitions
It’s a “chicken and egg” dilemma. How can women gain business development experience so they qualify for partner without forfeiting flexible work hours or a scaled workload to better accommodate personal and family responsibilities?
◆ “To earn a spot on the Best CPA Firms for Women list, an employer must have both a high proportion of women at most or all levels of management and proven success with the MOVE factors.”
◆ “To earn a spot on the Best Firms for Leadership Equity list, an employer must have at least 31% women partners & principals.
You can read a the Full version of the 2019 Accounting MOVE Project Report here. (Or simply click on the ‘Download’ Button below.