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 [email protected].
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In this Article
editor
Maanoj Shah is the Co-founder & Director of Growth Strategy & Alliances at Finsmart Accounting, where he pioneered the “Accounting Seat” model—a revolutionary offshore embedded staffing solution purpose-built for Accounting and CPA firms. Widely recognized as an outsourcing and offshoring expert, Maanoj’s insights have been featured in leading accounting publications, and he regularly speaks at premier industry conferences including Scaling New Heights, Bridging the Gap, BKX, and Women Who Count. A dynamic growth leader with over two decades of experience, Maanoj has incubated, scaled, and exited ventures across Fintech, HR, and Consulting sectors, holding various CXO roles throughout his career. His passion for scaling businesses is matched by his commitment to social impact. He is the Co-founder of Mission ICU, a national healthcare initiative that installs critical care units in underserved areas of India, and was recognized by the World Economic Forum for its last-mile impact. Outside of work, Maanoj leads an active lifestyle as an avid tennis player and passionate golfer, blending strategy and agility on and off the court.
CONTENT DISCLAIMER
The content in this article is for general information and education purposes only and should not be construed as legal or tax advice. Finsmart Accounting does not warrant or guarantee the accuracy, completeness, adequacy, or currency of the information in the article. You should seek the advice of a competent lawyer or accountant licensed to practise in your jurisdiction for advice on your particular situation.
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