AICPA WEBCAST: ADVANCING WOMEN IN THE ACCOUNTING PROFESSION
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1 AICPA WEBCAST: ADVANCING WOMEN IN THE ACCOUNTING PROFESSION Presented by Rich Caturano and Tracey Walker RSM US LLP
2 National Commission on Diversity & Inclusion The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants. It combines the strengths of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. The Association represents 650,000 members and students in 179 countries. AICPA formed the National Commission on Diversity and Inclusion in 2012 to serve as champions for diversity and inclusion within the accounting profession and to propose strategies to recruit, retain, and advance diversity in the profession.
3 Your Presenters RSM Culture Diversity and Inclusion (CDI) Mission: Transforming innovation, collaboration and business results through a culture of diversity and inclusion. Richard J. Caturano, Partner National Leader of Culture, Diversity and Inclusion (CDI) Past Chairman AICPA Co-Founder, AICPA National Commission on Diversity and Inclusion Founder Vitale, Caturano and Company (VCC) Grew to the Largest CPA firm in New England Merged with McGladrey in 2010 Former Managing Partner RSM Boston Office Member RSM Combined Leadership Team (CLT) Tracey Walker, Senior Director National Director of Diversity (CDI) and Government Affairs Cornell University Certified Diversity Professional (CCDAP) Over 20 years public accounting experience 14 th year with RSM Former FAS Federal Government Industry/Financial Services Institutions Sector Leader Registered lobbyist and Congressional representative for RSM RSM Supplier Diversity Program Lead Member, Association of Government Accountants, Women s Forum Founder Chair, Urban League Board of Directors
4 Overview Today s Topic This webinar examines how being visible and owning your future within your organization is a key success factor in your career progression and we will offer key ideas for engaging male leaders. Workplace dexterity, the advancement of women and the impact and roles both men and women have on a successful talent experience are emerging focal points within many firms. Explore the importance of this relationship when it comes to landing key clients, stretch assignments and sponsorship opportunities. When mentoring, sponsoring, managing and coaching what are the best ways to advance the careers of women, drive visibility and engage male leaders? The session will also demonstrate the dynamic interaction between a male leader and his female coworker/mentee with personal stories and examples to illustrate this session.
5 Agenda : Key Topics Today s discussion will include four subject areas: Understand Engage Own Action!
6 I. UNDERSTANDING: THE WHY S OF WOMEN ADVANCEMENT 6
7 The Why: Business Drivers to Male / Female Success Succession - Viable exit strategies are impacted as women represent more than 50% of the profession but less than 25% of the leaders/owners. Retirement - Profession demographics are changing and baby boomers will be retiring in significant numbers during the next 10 years. Retention - Sustainable growth models are at risk if a significant portion of the accounting profession is not maximizing its potential, nor retaining eligible, talented candidates for partnership and succession. Increased solution complexity and women leadership demands require diverse talent and teams to effectively address business challenges. Offices lacking ability to create a family and gender-friendly environment are known to be detrimental to both staff retention and service satisfaction 7
8 The Why: Intention and Profession Imperative A diverse profession is a sustainable profession. AICPA and its corporate partners are committed to the retention and advancement of women. 8
9 Poll Question What would be considered barriers for women s advancement to leadership roles? - Unequal opportunities for advancement. - Lack of confidence. - Lack of being offered leadership opportunities. - All of the above. 9
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11 Barrier: Differing Views Men and Women have different perspectives on the barriers to the advancement of women
12 Impact: Female Barriers to Retention and Development of Leaders Career Sponsorship & Navigation Work/Life Integration Stereotyping, Unconscious bias Access to Female Role Models Unequal access to career development and advocacy experiences Traveling without a road map Self Selection (Opting Out)
13 Impact: Male Barriers to Retention and Development of Female Leaders: Left out of the equation Optics of Mentorship Unaware of business case for advancement of women Lack of tools and instruction as to how to effectively mentor Lack of understanding of the barriers women face Unconscious bias Buy-in of the concept of fairness vs. equality in women s programming Disengagement (Opting Out of Advocacy)
14 Barrier: Behaviors Studies show white males feel less connected to organizations with diverse leadership. They actually identify less, psychologically, with the organization after the appointment of a minority CEO and that reduces their propensity to help their colleagues, said James Westphal, a finance professor at the University of Michigan s Ross School of Business Our theory is that the appointment of minority CEOs triggers biases.
15 Barrier: Unconscious Bias Bias can happen unconsciously and Contradict business goals Influence judgment Unintended outcomes Leaders take action to prevent and neutralize bias Assume positive intent Ask to ask, for safe space Suspend offense Brace for honesty
16 II. ENGAGE: Creating Safe Space for Effective Connection 16
17 Action Steps Engaging Males as Allies Create safe space Permission to engage. Define the value proposition for ally development. Clarify your personal motivations.
18 Who are the male champions? Male champions genuinely believe in fairness, gender equity, and the development of talent in their organizations, and are easily identified by female leaders for the critical role they play advancing women s careers
19 Poll Question What is the role of the male champion? - Promoting the strength of inclusiveness in talent management - Providing gender awareness mentoring - Practice other focused leadership - All of the above 19
20 What do male champions do? Use their authority to push workplace culture toward gender equality Think of gender inclusiveness as part of effective talent management Provide gender-aware mentoring and coaching Practice other-focused leadership, not self-focused leadership 20
21 Mentors, Sponsors and Advocates Access to high-impact programs, people and high-influence career advocates Assistance providing a road map for navigating the culture and career stages within the firm while avoiding missteps is essential for success. Advocacy providing valuable promotion, sponsorship and strategies to increase individuals visibility and value to the organization 21
22 Poll Question What are the common characteristics that mentors and sponsors share? - Advice - Guidance - Make introduction - Give feedback 22
23 Male Inclusion Objectives PIE Promotion Inclusion Exposure
24 How to engage male leaders In Groups - Engage men on panel discussions concerning women s issues One on One -- Invite courageous conversation on your career and breaking down barriers Education -- Create opportunities for men to better understand both bias the sticky floors that hold women back 24
25 III. OWNING YOUR FUTURE Clarity and Confidence in Forward Motion 25
26 Women: Ambition and Confidence
27 Women: Ambition and Confidence
28 Authenticity: Challenging Stats 28
29 Women and Leadership Behaviors The research suggests that for women to be successful they must simultaneously present themselves as self-confident and dominant while tempering these qualities with displays of communal characteristics. Using comprehensive interview, survey, and observational data from 132 business school graduates over 8 years, the researchers found that certain women high in "masculine traits" defined as aggressiveness, assertiveness, and confidence were also able to "self-monitor" their behavior. "These women were able to be chameleons, to fit into their environment by assessing social situations and adapting their actions accordingly," explains O'Neill. 29
30 Do You Own your Future? Career Development Framework Alignment * ECS Only
31 Fast TRACK to Engagement and Advancement TRACK Your Key to Advancement COMMUNICATION TRUST RESPECT ATTITUDE CREDIBILITY KNOWLEDGE 31
32 Currencies of Influence Male/Female Understanding 1. Building dependable, caring, communicative relationships buys you 2. Consistent delivery of high performance buys you TRUST RESPECT 3. Positive (or negative) outlook and energy offers others your ATTITUDE 4. Distinctive, consistent results buys you 5. Acquired study and client superior service experience buys you CREDIBILITY KNOWLEDGE
33 The Dexterity Journey Unconscious Bias TRACK is a driver for Mentorship/Sponsorship, perhaps Friendship and Unconscious Inclusion is the destination Unconscious Inclusion Conscious Inclusion Conscious Bias
34 IV. ACTION! Authenticity and Forward Progress 34
35 Communication
36 Men and Women Communicate Differently 36
37 Power of Being Understood
38 Leveraging Your Strengths and Creating a Winning Inclusive Team
39 Efficacy Between Genders Men are seen as more task oriented Women are seen as more supportive Business communicators of future will be possess more gender dexterity Gender-dexterous people generally more successful Many gender differences will likely disappear as more women move up and women managers become commonplace The most effective listeners of both sexes will be those who understand communication principles and apply them in a considerate and flexible manner 39
40
41 Advancement Actions: KNOW BE DO Understand Engagement Know your Impact Be Authentic Seek support for the Power of You Own Your Future: Thought, Results, People Self KNOW What do I need to know to be most effective in my work environment? BE Who am I in my work environment? How do I show up authentically? DO What actions am I taking to be my most effective in my role?
42 Action Remember key elements to advancement and progress: Understand Value and Perspective Engage Authentically Own Your Future Action! Leverage TRACK Currency
43 QUESTIONS AND ANSWERS
44 Let s Meet Again!... We d like to hear from you or to connect with Rich or Tracey directly Contact us: Tracey Walker - tracey.walker@rsmus.com Richard Capuano: rich.caturano@rsmus.com
45 2018 Accounting Profession Diversity Pipeline Symposium Atlanta, GA 5/14-5/16 The Symposium brings together accounting firms, state societies, colleges and universities, other organizations to incubate fresh ideas and breakthrough strategies that will help the profession sustain a pipeline of diverse talent. Register Here
46 AICPA Women s Global Leadership Summit NYC, November 14 16, 2018 Objective: to focus on leadership, boardroom diversity and best practices to enhance the skills and potential of women leaders within the financial community. Who should attend: - Female financial professionals/accountants, global leaders, male colleagues AICPA Women s Initiative
47 Women s Initiatives Executive Committee (WIEC) Tools and resources for firms and individuals Educating, advocating, advancing aicpa.org/womenlead
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