Women of Color in Accounting Feel a Lack of Connection

A new study by Catlayst has found that women of color in accounting feel less included in the work environment than their white counterparts, they feel that the firms they work for lack accountability in diversity practices, and they believe that their firms lack racial sensitivity. The results of the study come at a pivotal time where there is both a continuing shortage of accountants and an increasing number of persons of color receiving accounting degrees. As such, the talent pool for CPAs, as well as the accounting workforce, will increasingly be made up of people of color.

The study provides clear insights into what women of color feel about their working environments in the accounting industry, such as:

• Women of color believe that they must make adjustments to fit in at work, a sentiment echoed by white women responding to the study, who also felt that other employees should adapt to become a member of their group.

• Women of color believe that they have little or no access to the influential mentors or sponsors that will help them succeed in an organization, and they do not feel they have access to the strong internal employee networks at their firms.

• Women of color tend to generally believe that diversity practices in their workplaces are ineffective and lack commitment and accountability.

The study concludes that women of color in accounting feel dissatisfied with their careers mainly because they feel isolated in the workplace. In order for firms to retain women of color, they should promote an inclusive environment, develop effective diversity strategies, assess the effectiveness of diversity initiatives, and provide accountability when diversity initiatives fail.