From Women’s History Month to International Women’s Day, the month of March offers a time to celebrate and honor powerful women, including women in the accounting profession.
Historically, the accounting profession has been a primarily male-dominated sector. In fact, some of the latest reports show only
When I first joined The Bonadio Group in 1986, the firm was made up of only 30 people, and there were no female partners. Fast-forward to today, and female representation spans 10 offices and includes more than 39% female partners and principals, well over the industry average. As the firm’s first female partner, I look back at my journey from mentee to mentor and can recognize all the invaluable lessons I’ve learned, including just how powerful mentorship can be for females in the industry.
Two-way street
Like any good relationship, effort is required on both fronts. This is especially true for a mentor/mentee relationship. The relationship involves work and commitment from both parties, and to be truly effective, must involve buy-in from the top. Developing a clear set of expectations from both parties is a strong way to begin a mentorship. Defining upfront what each individual wants out of the relationship can help influence goals and expectations
Support and guidance
For young professionals early in their careers, a mentor can serve as a sounding board and offer advice as they navigate the workforce. The business world, especially accounting and finance, can be a fast-paced work environment, especially during the busy tax and auditing seasons. Mentors can provide support and guidance during these moments. With this comes trust as a core element for mentoring relationships. The mentee must trust that the mentor has their best interest in mind and will provide accurate and honest guidance.
Career advancement and professional development
Mentors play a critical role in the advancement of someone’s personal career, especially in the accounting industry. The support and encouragement given earlier in someone’s career journey can have big impacts on their development. As a young professional in a growth-oriented environment, I was given many different opportunities to interact with clients, shadow partners and "learn by doing." These experiences help build confidence and break down stereotypes that may have existed in a more traditional and patriarchal environment.
Resources and knowledge sharing
One of the biggest benefits from a mentor/mentee relationship is knowledge sharing. Someone new starting out in the industry will have questions on what to expect in a certain industry and can learn from a more senior leader. Mentors can provide specific insights and information that enable the mentee's success. Similar to the circumstances and teachings that we experience throughout our lives, I have learned many lessons throughout my career, and it is those personal experiences that I find most important and valuable to pass on to mentees to help foster the next generation of female accountants and CPAs.
Networking
In addition to offering advice and knowledge, mentors can open doors for their mentees and make connections to help strengthen a mentee’s network. Especially as it pertains to career development, making new connections for a mentee can bring them one step closer to achieving certain goals as they learn more and advance in their careers.
Diverse representation
Not all mentors and mentees will look the same. However, I do think it’s incredibly important for young professionals to connect with their mentors. When I first started in my career, I did not have any mentors who looked like me or had been “in my shoes.” Moving past this helped me as a female professional enter the industry and find my place to grow. But it takes a proactive attitude on the part of the mentee to create a meaningful and effective relationship.
Pay it forward
Having a formal mentorship program shows an organization’s commitment to the advancement of every employee. Structured mentorship programs create inclusivity in the work environment, and with all employees actively participating, it strengthens overall culture. When mentorship is ingrained into the culture, it can lead to a stronger overall culture and promote employee loyalty and retention.
Participants in mentorship programs must all be willing to take on the responsibility of having open conversations and identifying strengths in those we work with to help everyone reach their highest potential. But even with a formal mentorship program, the role of mentor and mentee must be customized for each relationship and will likely evolve over time. There is no “one-size-fits-all” formula for a successful mentor/mentee relationship.
