CEO's Message

SUSAN SPEIRS, CPA

Welcome to 2022, not to be confused with 2020, too! The last two years provided seemingly endless challenges that we’ve turned into opportunities as we navigate the Great Resignation.

Anthony Klotz, an associate professor of management at Texas A&M University, coined the term “The Great Resignation” to describe what is happening within the global workforce. Professor Klotz predicted that many would leave their jobs after the COVID pandemic and life returned to “normal.” The phenomenon began in April 2021 as the COVID vaccine began to gain popularity. Employees grew weary of excessively demanding bosses and tone-deaf organizations that refused to pay well and took advantage of staff.

We’re seeing the same thing in our accounting profession. There are many reasons for the great accounting resignation. Many surveys and research indicate that the main reason CPAs are leaving the workforce in droves is because younger people don’t see the value in the very skewed work life that comes with being a CPA. Tax season has become more stressful than ever over the past few years with last-minute legislation. With the pandemic, accounting, in general, has taken on a whole new monstrous workload as we navigate new business models, governmental funding, reporting on funding and a remote workforce. Our younger members ask themselves if the challenges of the profession are worth 80-plus hour workweeks, salary shortfalls, and the inability to spend time with their families.

To combat challenges, we continue to work on initiatives to grow our workforce and help us understand our own needs in the profession:

• Pipeline: We know we have a shrinking workforce that will continue to decrease due to an aging population and decrease in college students. We continue to work with our colleges and universities to create programs to encourage high school students to become accounting majors. In August 2021, we held our first Money Camp with Weber

State University. In 2022, we will work with more universities to create their own programs to introduce students to the profession. • DEI committee: During our strategic planning process, we learned that our members want to understand more about diversity, equity and inclusivity and how they relate to a better business model. Our DEI committee is moving at warp speed to understand our members’ needs. You have received a survey from the committee that will help them as they strategize your needs. We encourage you to take the survey. • Student/educator conference: With changes coming to the

CPA Exam, we’re committed to our campus ambassadors and educators. Our goal is to help students prepare to sit for the exam at 120 hours and so that educators understand the new model to better prepare students. • Mentoring: In January 2022, we will be rolling out a mentorship program. Members at every level have expressed a need for a mentor. We encourage you to volunteer to mentor. Mentorship is a proven practice where participants on both sides gain valuable insights and learn to develop strong relationships.

This will be a year of more learning and opportunities. Happy New Year! n