Originally Contributed in The Woodard Report
Amidst the challenges posed by the pandemic, the crucial task of promoting diversity and inclusion (D&I) has taken a backseat in many organizations. However, this should not be the case, as diversity within the accounting industry brings immense benefits. As per McKinsey’s findings, businesses ranking in the top quartile for diversity have a 35% higher chance of outperforming those with lower diversity. Additionally, drawing in diverse talent can enhance a firm’s profitability and market competitiveness.
The significance of diversity and inclusion extends beyond the internal teams of larger CPA or accounting firms; even smaller firms with offshore teams can reap substantial rewards by embracing these values.
In context to this, Finsmart Accounting – trusted globally for accounting outsourcing services – decided to share some valuable insights on how accounting firms can maximize growth by having a diverse team.
9 Benefits of a Diverse Team
- Gender perspective
- Age perspective
- Experience perspective
- Fresh perspectives
- Challenging assumptions
- Specialized bookkeeping skills
- Improved listening skills
- Diversity of thought
- Cross-cultural communication
Want detailed insights on the above points? Read out this blog contributed by our team on The Woodard Report.
Partner With Finsmart for Accounting Outsourcing
As firms navigate the challenges brought on by the pandemic and embrace new ways of operating, they must not overlook the importance of fostering diversity and inclusion within their ranks. By doing so, CPA and accounting firms can position themselves for sustained success and unlock the transformative power that D&I brings to the industry.
If you have any questions or need assistance in finding the right partner for your accounting needs, please feel free to reach out to us at connect@finsmartaccounting.com.
Also, check out the recent blogs we came up with:
FaaS accounting and its many benefits
Artificial intelligence in accounting
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Maanoj is Co-founder & Director of Growth Strategy & Alliance at Finsmart Accounting. He is an Outsourcing Expert, a People Champion, and a Dynamic Leader with strong Business Strategy and Scaling-up experience. He has incubated businesses, sold & exited ventures; helped build strong enterprises in very diversified verticals like Fintech, HR & Consulting spaces in various CXO capacities over the last 20 years.
