Accounting's talent pipeline: Focus on 'and,' not 'or'
If one challenge has marked our profession and dominated my almost two years as the MACPA’s CEO, it is undoubtedly the talent pipeline. The MACPA Board has discussed this issue extensively over the years. Almost a decade ago, it led to the creation of our first Student Leadership Academy. Five years ago, it spurred the expansion of our MACPA Foundation to fund pipeline initiatives, partnerships, and increase scholarship awards.
In early January, the MACPA held its annual CPA Summit. Instead of focusing on technology trends and disruptors, we talked talent. As I prepared the opening slides, presenting data and context on our challenge, I felt overwhelmed by the myriad of issues: declining birth rates, slowing immigration, increasing educational costs, licensure barriers, stagnant starting salaries, and the intangible but significant issue of our profession's brand. The possible solutions were just as broad and varied and, frankly, overwhelming. Yet amidst the complexities, I found hope in embracing multiple solutions, realizing that no single approach would resolve our challenges.
While I am passionate about the profession's future and its talent, I admit that I recently felt weary of this seemingly impossible fight. But last week, I had the privilege of attending the AICPA Council, the bi-annual gathering of the AICPA's governing body, and I came away with renewed hope.
Last spring, the AICPA Council made a resolution that resulted in the formation of the National Pipeline Advisory Group. I am incredibly grateful for the diverse group of leaders who came together to serve our profession, including past MACPA Chair Lexy Kessler, who led the group. Earlier this month, they released their draft report. Although some might argue the solutions aren't new or fast enough, I was encouraged. Their work demonstrated how stakeholders from across the profession, with differing beliefs and priorities, could unify to amplify each other and embrace the "AND" over the "OR."
One of the six themes of the National Pipeline Advisory Group’s recommendations is “Telling a more compelling story about careers in accounting.” This theme and call to action has unified our Board of Directors' thinking as we sought to tackle the complex issue. And it’s truly where each and every member of the profession can do their part. To help tell this more compelling story, the MACPA created The Purpose of the CPA campaign. I hope you are inspired to remember your “why” and impact as a CPA and to share it loud and #MarylandCPAProud.
As we move forward, I challenge the CPA profession to continue exemplifying the spirit of unity and collaboration. Let's amplify the "AND" over the "OR" in our efforts, recognizing that diverse solutions can coexist and complement each other. By working together, we can overcome challenges and seize opportunities that will shape the future of our profession in meaningful ways.
Here's to a bright and promising future!
Calls to action:
- Share your why: Join our MACPA CPA Purpose Campaign by sharing your story and impact as a CPA. Let's inspire others by highlighting the impact and purpose of our profession.
- Review the NPAG draft report and attend their live-streamed session from AICPA Engage to learn about their results and give your feedback.
- Take the Pipeline Pledge: Commit to doing your part in growing future CPAs.
Together, we can make a difference and secure a vibrant future for the CPA profession.