AT Think

Now is the time to invest in women — and mothers — in accounting

Once upon a time, the accounting profession was predominantly comprised of white men. That story has been rewritten, however, as more than half of bachelor's and master's degrees in accounting are now awarded to women, according to recent AICPA Trends reports. 

Like many other professions, one of the major challenges in our field is retaining these women after they take on another demanding role: becoming a mother. The "motherhood penalty" has been well-researched and discussed, and it continues to impact the participation and advancement of women in the workforce.

However, there is evidence that we may be at a critical turning point in this narrative.

At the intersection of flexible work policies and initiatives to prioritize well-being lies an opportunity to attract, retain and advance working mothers in accounting. With the profession skewing increasingly female — and concerns growing around future talent shortages at both public companies and private firms — it is important to seize this moment.

 
Flexible work works

In recent years, there has been a growing recognition of the need for flexible work arrangements to accommodate the diverse needs of employees. This shift has been particularly beneficial for working mothers, who often face unique challenges in balancing their professional and personal responsibilities. 

For example, recent U.S. Census Bureau surveys have shown that women are disproportionately affected by the lack of affordable, quality child care, a problem that has been exacerbated by the COVID pandemic.

By embracing flexible work policies, companies can create an environment that supports the needs of working mothers, allowing them to thrive both personally and professionally. Indeed, research shows that flexible work policies that enable working from home for parts of the week have a direct increase on mothers' employment, including in demanding careers like finance.

Prioritize well-being initiatives

The increased focus on mental well-being and the recognition of burnout as a serious issue have prompted organizations to take proactive measures to address these concerns. Although younger professionals have oftentimes led the charge in driving recent awareness and action around mental health, initiatives to improve mental well-being and prevent burnout can be especially impactful for working mothers juggling multiple responsibilities. 

This includes not only expanding access to well-being programs and resources but also establishing a regular cadence of storytelling and conversation to reduce stigma and encourage healthy practices like boundary-setting, taking time off, and building support networks.

 
Create support networks and programs

Acknowledging the unique challenges faced by working mothers and ensuring that they feel supported and valued for their roles both inside and outside of the workplace enables them to excel in all areas. This includes creating opportunities for connection with professionals who can offer guidance and have similar experiences. 

At KPMG, we offer benefits such as one-on-one new parent career coaching sessions as well as opportunities for parents to connect through specialized networks such as "Parents who KNOW" within our KPMG Network of Women (KNOW) Business Resource Group.

 
Driving change in the profession now and in the future

It's important to consider not only how to recruit women to the accounting profession but also how to help them stay and advance. Working mothers bring unique perspectives and experiences to the table, which can contribute to innovation and more well-rounded decision-making and problem-solving. Firms benefit from a more diverse leadership team. Moreover, this can inspire and motivate other women to pursue their own career goals, ultimately leading to a more gender-balanced leadership landscape.

Regardless of whether a woman chooses to become a mother, capitalizing on this moment and ensuring that women in accounting can manage their personal and professional responsibilities will be critical to ensuring greater retention and more diverse perspectives — especially at the leadership level. By exploring new ways to make this profession more accessible for women and especially for working mothers, we help ensure both their future success and ours.

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Practice management Gender issues Gender Equality Wellness
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