CPA Practice Advisor

MAR 2016

Today's Technology for Tomorrow's Firm.

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FEATURE March 2016 • www.CPAPracticeAdvisor.com 5 For public accounting managers, this means overseeing a team com- posed of baby boomers, Gen X, Gen Y and Gen Z. K nowing a bit about Generat ion Z's u n ique st yle a nd worldv iew can assist managers in h i r i ng a nd ret a i n i ng t he newest group of talent. Quick Gen Z facts • Tey're digital natives — the frst generation that will not know a world without the Internet. • Most of them grew up with smartphones. • Tey came of age in a time of the greatest economic instability since the Great Depression. W h i le avoid i ng s tereot y pi ng , knowing common workplace prefer- ences can be useful. Based on input from Gen Zers surveyed for a Robert Half and Enactus report, Get Ready for Generation Z , here are some hiring a nd sta f f ma nagement t ips when working with this generation. Gen Z expects rapid upward mobility W hen asked where they expect to be f ive yea r s out of col lege, t he top re s pon se , c ite d by 32 perc ent of surveyed Gen Zers, was "managing or supervising employees in a corpo- r a t e e n v i r o n me n t ." T h e s e c o nd choice (24 percent) was moving up the career ladder but not yet into staf management. Tese workers have a clear vision of what they want to be — and when. Staf management advice: During recruitment and annual reviews, let Gen Z professionals know they have a future in your frm by discussing p ot e nt i a l i n-hou s e c a re e r m i le - stones. If they think there's no room for grow th, they' ll look elsewhere for new experiences and professional f ulf illment. You may also need to give them g uidance to succeed in leadership roles. Gen Z expects to work hard Te Great Recession made an impact on this generation. Perhaps shaken by seeing their parents go through fnancial struggles and sufer career setbacks, 77 percent of respondents expect to work harder than previous generations to get ahead. Staf management advice: A competi- tive salary is only one aspect of atract- ing a nd reta in ing top account ing talent. Emphasize training and profes- sional development opportunities, both during the hiring process and beyond. Gen Z enjoys learning and is used to listening to instructions. Gen Z workers may lack certain skills as they acclimate to the workforce W h i le t h is generat ion's l isten i ng skills are strong, their writing abili- ties may be wanting due to growing up communicating with emojis and other texting shorthand. According to Bruce Tulgan, founder of R ain- maker Tinking, some other missing skills may include: • Rigorous self-evaluation • Maintaining a positive atitude • Taking care of themselves so they come to work healthy • Self-presentation, such as timeliness, follow-through and initiative Staf management advice: Tese workers w ill beneft from in-house mentoring relationships. Pair ten- u re d ac c ou nt i n g s t a f f w it h ne w hires to give them career adv ice and help them improve their sof sk ills. A s their manager, you may want to hone in on topics such as project and ti me management. Point out the impor tance of a more profes- sional w riting approach, and ofer them guidance as needed. Be the leader they need Gen Z workers value honest y and integrit y in their super v isors, and they thrive on establishing genuine relationships. They also prioritize bosses who are proven mentors. Staf management advice: W hile G en Z worker s a re able to work i ndependent ly, ma ny prefer col- laborat i ng w it h sma l l g roups. A s s u c h , n e w g r a d u a t e s m a y n o t a lways be the best candidates for remote work, though they are ver y a c c u s t o me d t o w or k i n g d u r i n g personal time. Regardless of their work arrange- ments, ser ve as a career coach and advocate for them; they crave guid- a nce f rom a n employer who w i l l prov ide t hem w it h t he tools a nd feedback they need to be successful. Be sure to schedule regular check-in meetings for them to ask questions and for you to ofer constructive criti- cism, and don't forget to recognize and reward their outstanding work. Successf u l ly ma nag i ng Gen Z a c c o u n t a n t s r e q u i r e s n o t j u s t understanding, but embracing the traits of this talented, ambitious and eager g roup of workers. R espec t t he m , he lp t he m s hore up t he i r wea ker sk i l ls a nd of fer t hem t he resources they need to move ahead in their career, and you'll be rewarded with invaluable team members and future frm leaders. Tips for Hiring, Managing and Retaining Gen Z Workers By Paul McDonald F our years from now, Generation Z will represent more than 20 per- cent of the workforce. Undoubt- edly, this cohort of employees — born in the 1990s — will affect your approach to staf management. Paul McDonald is senior executive director at interna- tional stafng frm Robert Half . He writes and speaks fequently on hiring , workplace and career management topics. Over the course of more than 30 years in the recruit- ing feld, McDonald has advised thousands of company leaders and job seekers on how to hire and get hired.

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