The millennial generation is beginning to enter management positions within CPA firms for the first time. They will define and dominate the culture of CPA firms for the next 20 years. By 2020, millennials will be over 50% of the global work force. What are you doing to attract and retain them?
Like every preceding generation, millennials with the right skills are in high demand. Their use of technology clearly sets them apart. They grew up with laptops, broadband and smartphones in their homes. As the first generation with this experience, every millennial brings a deeper knowledge of key business tools than most senior workers possess. Are you restricting progress by not investing in the right technology to enable automation and elimination of labor driven, manual processes?
Millennials are more committed to their personal life experience and development than previous generations. Flexible roles and working hours are preferred over monetary incentives. Mentors are valued as they seek advice to be successful. They have seen corporate loyalty go unrewarded and always listen for new opportunities. Engage your millennials with exciting work and recognize their personal goals.
Have you identified millennial managers already? Are you developing future leaders at your firm? Are you incentivizing your workforce effectively? The Visionary Group can provide advice and support specialized for the CPA profession. Contact us at 800-995-9186 for an evaluation.