Changing ‘perception’ of accountancy profession key to attracting Gen Z

The accounting profession must work to alter Gen Z’s sceptical view of the industry by offering more advice and creating clearer pathways in accountancy roles, according to Andrew Dobbs, head of talent acquisition at Cooper Parry.

A recent survey conducted by Grant Thornton highlights that young people hold numerous misconceptions regarding careers in accountancy, hindering them from perceiving it as a viable choice for them.

The survey was completed by 2,000 16–25-year-olds, with 66% saying there is currently limited careers advice available to them relating to the accounting industry.

Dobbs says: “Flexibility is important to them [young people], as well as businesses with moral and social purpose. It’s the responsibility of accountancy firms to tell a more compelling story that takes this into account. And being a people led, culture-based business.”

This is echoed by Richard Waite, people and culture director at Grant Thornton UK LLP, who says that firms must actively engage with young people to tackle some of these false barriers.

“I think what we’re seeing is that there are misconceptions that are limiting people’s insights into whether this is something that they would want to do.

“There’s a lack of awareness in terms of careers advice or young people not having access to the information that they need to be able to make a decision about whether accountancy is right for them or not.”

Waite argues that, while the competition for talent intensifies each year, the attractiveness of the profession remains unchanged, and firms should focus on innovative methods to engage younger candidates.

Increasing number of school leavers joining profession

Last year, Grant Thornton welcomed 193 trainees as part of its school leavers apprenticeship programme, aiming to reach a 50/50 split with university graduates in the coming years. Cooper Parry will be recruiting over 70 school leavers in 2023 as part of its early careers programme.

According to Dobbs, high costs mean university degrees are often the preserve of the middle-class, and therefore should no longer be considered essential by hirign firms.

“A lack of a degree [or financial backing] should not prevent brilliant young minds from joining the industry. It’s a win win for both young talent and for accountancy businesses themselves to target school leavers.”

But according to Waite, Grant Thornton disregards academic entry requirements altogether, having become the first professional firm to do so in 2013.

“We know there are a number of reasons why someone might not get the grades that they were expecting or that they were hoping for, and yet they’re still full of potential. So, for us, it was about creating fairer and more equitable access to opportunities in our firm.

“Over the last 10 years, we’ve seen a number of really high-quality young people join our firm, who would have previously been screened out at the first application stage, who’ve gone on to do really well in the professional exams and have really great careers with the firm.”

Using different platforms to reach Gen Z

A recent study revealed the importance of social media in Gen Z recruitment efforts, with 48% of young individuals having previously used social media to apply for a role.

Dobbs argues that Gen Z does not primarily use traditional routes to employment, such as careers fairs, and favours data-led targeted advertising and social media channels instead.

“We can reach Gen Z in the places where they consume information and connect with culture- technology and using data to target brand messaging is vital to ensure brilliant, diverse talent still joins the industry”

Grant Thornton is now looking for new methods to engage with young people, with TikTok being the most recent platform the firm has utilised, says Waite.

“We have started asking our current trainees to share content on TikTok. To talk to young people who might be only a year or two behind them in terms of thinking about career opportunities, and specifically breaking down some of these myths.

“Talking about the interesting and exciting things that that they’re up to, and also some of the more challenging parts of the role as well. It helps to give that real life insight into what life in a professional services firm is really like.”