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January 29, 2023

Will Deloitte’s Diversity Push Work?

Thumbnail image for small salzberg.jpgAwhile back we told you about Salz’s dissatisfaction of the diversity at Deloitte, regardless of their long-standing commitment to it.
After the Web CPA piece, Dr. Phil is steppincussing Deloitte’s recruitment of students on community college campuses in last Friday’s Business Week. The article points out up front that, “Deloitte CEO Barry Salzberg likes to talk about the value of diversity. But of the 4,500 partners and other top executives at his firm, 92% are white.” We did the math, that’s less than 500 non-white partners.
So this is obviously a public relations problem that the firms would rather not have, since as we’ve noted, they love, love, love to point out how diverse they are, regardless of what others are saying. The facts simply seem to be that accounting, as an industry, doesn’t seem to be that diverse:
Continued, after the jump

For Deloitte, the hope is to reach high-potential people of color at community colleges, interest them in accounting, and then shepherd them through a university to a job upon graduation. If it works, it could turn around a troubling trend. In 2004, African Americans represented 1% of all CPAs, Latinos 3%, and Asians 4%, according to a U.S. Treasury Dept. report on the profession. By 2007 the figures were unchanged, if not down slightly.

Okay, so those numbers aren’t good for anyone. They’re especially not good for the image of the firms or the profession. Deloitte’s plan is to recruit on six community college campuses to try and convince the students that accounting is a kick ass career. Obviously that’s easier said than done:

Deloitte will have to do a fair amount of myth-busting. Many students believe accountants don green eyeshades and plunk away at calculators all day. So Deloitte is sending a brigade of up to eight staffers, including at least one senior partner, to enlighten, mentor, and ultimately guide potential recruits toward an accounting career. In visits to the campus classrooms, the partners plan to share workplace perspectives and explanations of how the industry has broadened to include financial, management, technology, and human capital consulting. “I don’t think students realize the vastness of what you can do in accounting,” says Gregory Brookins, a CPA and associate professor at Santa Monica Community College. “They feel like it’s a boring bean-counting job.”

‘They feel like it’s a boring bean-counting job’? GASP. How’d they get that impression?
Not everyone is on board with this plan, specifically, E&Y, “…it recruits from four-year universities where students get credits toward the CPA exam. That’s something “a two-year program doesn’t offer,” says Ken Bouyer, Americas Director of Inclusiveness Recruiting for Ernst & Young.”
Plus, since accounting firms like to pitch their professionals’ merits when courting new clients, there is a worry that community college grads are jumping up and down to brag about their less-prestigious education regardless of the accomplishments they’ve made professionally.
So accounting firms and the accounting industry appear to have an old white boy’s club problem. Is Deloitte taking the right approach? Is E&Y’s attitude short-sighted? Discuss your thoughts in the comments.
Deloitte’s Diversity Push [BW]

Thumbnail image for small salzberg.jpgAwhile back we told you about Salz’s dissatisfaction of the diversity at Deloitte, regardless of their long-standing commitment to it.
After the Web CPA piece, Dr. Phil is stepping it up a notch, discussing Deloitte’s recruitment of students on community college campuses in last Friday’s Business Week. The article points out up front that, “Deloitte CEO Barry Salzberg likes to talk about the value of diversity. But of the 4,500 partners and other top executives at his firm, 92% are white.” We did the math, that’s less than 500 non-white partners.
So this is obviously a public relations problem that the firms would rather not have, since as we’ve noted, they love, love, love to point out how diverse they are, regardless of what others are saying. The facts simply seem to be that accounting, as an industry, doesn’t seem to be that diverse:
Continued, after the jump

For Deloitte, the hope is to reach high-potential people of color at community colleges, interest them in accounting, and then shepherd them through a university to a job upon graduation. If it works, it could turn around a troubling trend. In 2004, African Americans represented 1% of all CPAs, Latinos 3%, and Asians 4%, according to a U.S. Treasury Dept. report on the profession. By 2007 the figures were unchanged, if not down slightly.

Okay, so those numbers aren’t good for anyone. They’re especially not good for the image of the firms or the profession. Deloitte’s plan is to recruit on six community college campuses to try and convince the students that accounting is a kick ass career. Obviously that’s easier said than done:

Deloitte will have to do a fair amount of myth-busting. Many students believe accountants don green eyeshades and plunk away at calculators all day. So Deloitte is sending a brigade of up to eight staffers, including at least one senior partner, to enlighten, mentor, and ultimately guide potential recruits toward an accounting career. In visits to the campus classrooms, the partners plan to share workplace perspectives and explanations of how the industry has broadened to include financial, management, technology, and human capital consulting. “I don’t think students realize the vastness of what you can do in accounting,” says Gregory Brookins, a CPA and associate professor at Santa Monica Community College. “They feel like it’s a boring bean-counting job.”

‘They feel like it’s a boring bean-counting job’? GASP. How’d they get that impression?
Not everyone is on board with this plan, specifically, E&Y, “…it recruits from four-year universities where students get credits toward the CPA exam. That’s something “a two-year program doesn’t offer,” says Ken Bouyer, Americas Director of Inclusiveness Recruiting for Ernst & Young.”
Plus, since accounting firms like to pitch their professionals’ merits when courting new clients, there is a worry that community college grads are jumping up and down to brag about their less-prestigious education regardless of the accomplishments they’ve made professionally.
So accounting firms and the accounting industry appear to have an old white boy’s club problem. Is Deloitte taking the right approach? Is E&Y’s attitude short-sighted? Discuss your thoughts in the comments.
Deloitte’s Diversity Push [BW]

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