Hays senior regional director for accountancy and finance, Susan Drew, told Accountants Daily that Generation Z is going to become crucial to accounting firms, particularly because of their technology skills.
“Generation Z are highly adept in digital and technology, this makes them valuable as accounting firms adopt technology systems,” Ms Drew said.
“We have found that more accounting firms are implementing new systems into their business to improve finance processes. There has been focus across the industry on upskilling employees, as digital natives Generation Z should be able to pick these up with ease.”
While Millennials are those born between 1980 and 1996, Generation Z represents people who were born between 1997 and 2010, according to Hay, meaning they grew up during the 2008 financial crisis.
“Generation Z are ambitious but they’re not unrealistic, they went through the recent recession and are aware that their working life will be extensive in comparison to some of their colleagues from other generations,” Ms Drew said.
“With this in mind, Generation Z accountants want to be able to have a good work/life balance and work at a firm that has a strong training program allowing them to progress their career as well as work for a company that has up-to-date technology and offers purpose to their role.”
Generation Z, much like Millennials, desire regular feedback and are ambitious to move up the ranks according to Ms Drew.
“Generation Z require more regular feedback than other generations but this is good for firms as they can address projects, daily tasks and other concerns on a more frequent basis which we have found both employers and employees want,” she said.
“Their desire to have instant feedback will allow accounting firms to discuss how their role fits in with the rest of the business and how they can assist in reaching the firm's objectives.”
The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day