true diversity means creating equity

woman opens door to find brick wall behind itwho is trying to get in the room but can’t?

by liz gold
in from success to significance: the radical cpa guide

so, we know you can’t just put the diversity and inclusion phrase on marketing materials and call it good. there needs to be some substance behind the claim.

more on radicalism: a legacy of leadership must extend to diversity | 5 ways to create a more diverse and inclusive workplace | goals, goals, goals | 3 challenges in shifting to product management | productized 1099s the new vision way | why our clients need us to be radical
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part of that substance includes looking at the word “equity” and considering how you can provide equitable opportunities and growth potential to every individual in your firm.

remember, this is not about special privileges, said rhodes perry of rhodes perry consulting, a global strategic management firm helping executives build lgbtq+ diverse and inclusive workplace cultures. “this is about creating workplace equity, or guaranteed fair treatment, access, opportunity and advancement for all employees, while simultaneously striving to identify and eliminate barriers that have prevented the full participation of underrepresented groups in a workplace.”

how do you do this, especially if you want to make it to the top 200?

  1. look around. take a real hard look at your employee numbers. what are your demographics? how many people of color do you have in your firm? what are their roles? and what groups are represented? if you have 175 partners in your firm and you can count the people of color on one hand, that’s too small of a number to call yourself diverse. what about people with disabilities? or lgbt people? or veterans and retirees?
  2. get to know your people. it may seem obvious, but you’d be surprised at the number of companies that really don’t know their employees. find out their values, their passions, their skill sets, what’s important to them, what their particular needs are around balancing work and life. and find out what success means to them, so you can create a roadmap to help them get there.
  3. bypass assumptions. you may think you know someone because of their skin color or last name or religious beliefs, or because they told you they have a same-sex partner. that does not mean you know them! create space for people to be individuals, and respect their right to share information with you as they feel comfortable. and, be aware they always have a choice to not share anything at all. some people are private and choose not to bring everything to their place of work.
  4. be aware. talking about diversity – especially race – can be very difficult, and many companies prefer to gloss over these conversations. but the reality is, to be inclusive is to be able to include everyone. be aware of your blind spots, and know that despite some of your best intentions you might leave someone out. or someone will inadvertently be left off a calendar invite for a meeting. or you’ll be talking about diversity without an lgbt individual or person of color in the room. take notice of who is in attendance and participating.
  5. understand the importance of representation, not tokenism. look at your website and marketing materials. are they modern and relevant? are they truly representative of your firm? it’s common knowledge that a website is an extension of your business. if you have a mediocre website, that is going to send an impression. “visuals can turn off top talent, especially younger professionals, who are more likely to evaluate a company based on its digital footprint,” said perry. “if i don’t see myself in those pictures, or if i don’t see a diversity vision with a plan that demonstrates action on the vision, i don’t see myself fitting in there.”

it’s important to add, however, you don’t want to tokenize a person of color or another minority in the process. this means, don’t recruit a small number of people (or one person) from underrepresented groups to give the appearance of diversity within your firm.

in accounting firms, it’s a challenge to bypass tokenism.

the answer? hire more people of color and create a culture of inclusiveness from the get-go. make sure you have poc in leadership. ask yourself, how can i make sure people are represented here, not tokenized? it starts with awareness and working with someone to build out a diversity and inclusion initiative.

it’s very easy to gravitate toward people who look like you and walk similarly in the world. this is what we call unconscious bias. in the aicpa’s “recruitment and retention toolkit: a journey toward a more inclusive workforce,” unconscious bias is defined as our natural people preferences. “biologically we are hard-wired to prefer people who look like us, sound like us, and share our interests,” the report says. “when looking to increase the number of diverse hires within your organization, a critical first step is to address unconscious bias across the organization, helping management and staff understand the importance of diversity awareness, and communicating about and managing constructive conflict.”

the bottom line is that without equity, diversity and inclusion are merely good intentions. but there’s something missing: action.

in the inside higher ed article “language of appeasement,” dr. dafina-lazarus stewart wrote, “diversity asks, ‘who’s in the room?’ equity responds: ‘who is trying to get in the room but can’t?’ whose presence in the room is under constant threat of erasure?” while this article is obviously addressed to academia, the sentiment remains: let’s go beyond the rhetoric and start asking the tough questions about who is really thriving in accounting firms today.

kimberly ellison-taylor, cpa, cgma, and global accounting strategy director for the financial and professional services industries for oracle america maintains a glass-half-full perspective as it relates to her career at the intersection of accounting and technology. “i grew up with parents who were very clear to remind me that i can’t change anyone else or what they do, but that i can control how i respond,” she said. “using that backdrop, i always studied my colleagues and leaders to analyze their path, their work approaches, strengths, network, etc., and then would do a swot against my own various areas. this assessment over the years has informed my personal philosophy on leadership and success.”

that philosophy includes positive attitude, hard work, strong work ethic, persistence, confidence, stepping out of her comfort zone, team building, negotiation and a commitment to lifelong learning. all these attributes are core components as to how ellison-taylor engages with her colleagues in accounting and technology. “there will always be areas that need improvement, and there will always be individuals across every industry who are not comfortable with differences – yet when faced with where to expend my energy, i would much rather focus on what i learned as a little girl: change what you can and demonstrate through your actions the winning path,” she said.

how diverse is your client base?

we’ve been talking a lot about why it’s important to have diversity and difference at your firm on all levels. diversity, inclusion and equity are a power team that you need present at every table. this will bring new energy, conflict, disruption, stellar ideas and innovation, and make your firm extremely marketable – not to mention profitable.

the more diverse you are, the more relevant you are.

having a diverse team leads to landing diverse clients. who doesn’t want a diverse client base in every sense of the word? it will help you attract more people, people who are outside your usual target clients, but who need and want your services and expertise because what you are doing resonates with them.

for instance, do you have any same-sex couples on your client list? working with same-sex or lgbt couples who are unmarried can be profitable for your firm because of the complexities in tax and estate planning. think about it: more challenges mean more consulting time and a more complex return. success with that couple likely means referrals, and before you know it, you are building out a new niche in your firm.

consider these statistics regarding buying power in diversity best practices: almost one in four lgbt adults in one year switched to a product or service because the new company supported the lgbt community, and 71 percent of lesbian and gay people remain loyal to a brand that is sympathetic to lgbt issues even if the brand is costlier or less convenient.

“groom your clients for diversity and inclusion,” said tamika cody, former managing editor of accounting today. “you have to look at your clients and see if they are diverse. if not, start looking for diverse clients. it’s up to the partners to include the women, the people of color, the lgbt individuals. make introductions.”

big or small, have the courage to create your culture … consciously.

there’s a lot of talk about accountability and transparency in both old-school firms and new firms. people love to bounce those buzzwords around – but the truth is, being truly accountable and transparent takes courage. whether you are a well established firm looking to enhance your culture or a startup wanting to be strategic before you head to market, i would hope these two elements would be foundational to your firm values.

think about what sort of firm you are and where you want to be. think about who you are serving and how you are serving them. think about the technology you choose and use. think about how you communicate to your customers, prospects and employees. and think about the people you are grooming or choosing to be leaders – who are they, and can you genuinely say it’s a diverse group?

embracing difference will grow your firm. you will get more business, your team will be better for it, and you will come up with more innovative solutions to your customers’ most pressing questions.

more gaps will close and more doors will open. and who doesn’t want that?