Trisha Daho, the founder of Empowered, shares insights on culture, people strategy, and DEI strategy for accounting and law firms. Trisha explains that accounting firms are easier to work with than law firms as they are less hierarchical in decision-making. However, accounting firms’ culture and people stuff is more complicated and essential as their people are the product.
Trisha also emphasises that trust is a crucial factor for service providers. Clients buy services not just because the work is done but also because they trust the service provider and want to work with them. Millennials and Gen Zs are more interested in culture and work-life balance, and clients now demand that firms focus more on these issues. Firms also need help acquiring and retaining talent due to a shortage of skilled people entering the accounting industry.
Trisha notes that the pandemic has taught firms to look more expansively for talent and that firms are making crossroads decisions about their path, with younger people coming in and wanting to own their own companies. The conversation around how accounting firms do their work and create career paths for people is changing, and firms that can differentiate themselves through employer branding will win the talent war.
➤ Culture and people strategy are crucial for accounting firms and their success. As people are the product, firms must ensure that their culture is correct and consistent with their brand.
➤ Trust is a significant factor for service providers, and clients buy services because they trust the service provider and want to work with them.
➤ Younger generations, such as Millennials and Gen Zs, are interested in work-life balance, culture, and DEI issues. Clients are also demanding firms have a greater focus on these issues.
➤ Accounting firms struggle with talent acquisition and retention due to a shortage of skilled people entering the industry. Firms are reimagining the skills they need and how they can expand the talent pool.
➤ Employer branding is crucial for accounting firms to win the talent war. Firms that can differentiate themselves through employer branding and innovative ways of engaging with clients and employees will succeed.
Trisha Daho is a former Big 4 Accounting and Advisory partner turned into a culture, talent, and DEI expert. She founded Empowered, partnering with leadership teams to create sustainable and measurable people results. With laser-focused strategies, she built thriving practices in four regions and created growth businesses that have expanded exponentially. Trisha writes and speaks regularly on authenticity in leadership, creating growth cultures, diversity and inclusion, and more. She is also a kickboxing instructor, dog fosterer, and avid traveller.