Coaching and consulting firm ConvergenceCoaching released the highlights of their third annual Anytime, Anywhere™ Work Survey this week, with this year's survey focused on flexible work initiatives based on polls from 160 unique CPA firms.
The annual survey looks to gather data on public accounting firms' adoption of "anytime, anywhere" work initiatives and their overall experiences with said practices.
Convergence also highlights data from their recent collaborative research study with INSIDE Public Accounting entitled, “The Road to Retention: Motivators and Drivers for Young Public Accounting Professionals,” focused on finding trends in young professional retention.
Of the findings in the "Road to Retention" study, 723 young professionals cited work/life balance as the most important factor in staying at their current position, with flexible work practices ranking fourth overall. When asked what they would change about their typical workday schedule, the top three answers were, in order, work-from-home options, improved work-hour flexibility, and a four-day work week option. Respondents with 2 to 5 years of experience especially cited work flexibility as a firm weakness.
Of the firms surveyed in the 2016 ConvergenceCoaching Anytime, Anywhere Work survey, data includes:
- 68% allow their team members to flex their hours. 29% only allow this on a case-by-case basis.
- 51% offer some sort of Fridays off benefit during the summer. 22% of whom close their offices for part or all day every summer Friday.
- 45% of firms allow their team members to choose their place of work, with another 49% allowing ‘flex of place’ occasionally or on a case-by-case basis.
- 42% employ a team member who moved to another geographic location and continue to work for the firm.
- 39% no longer mandate work on Saturdays (including busy season) and of those who still mandate those hours, half allow team members to work Saturdays from home.
- 12% close their offices or keep a skeletal crew between Christmas and New Year’s.
- 5% offer an unlimited PTO benefits and another 19 firms, or 13%, are thinking about offering this benefit.
For more on the 2016 Anytime, Anywhere Work Survey, head to ConvergenceCoaching's site here.