Why we need to shout more about DEI and ESG
The accounting industry has come a long way in recent years when it comes to embracing DEI and ESG practices. However, it’s not enough to just make these changes – they need to be shouted about.
·3 min read
In case you’ve been living under a rock, the accounting industry has come a long way in recent years when it comes to embracing diversity, equity, and inclusion (DEI), and environmental, social, and governance (ESG) practices. However, it’s not enough to just make these changes – they need to be shouted about. Big time.
‘Shout about them? From where – the rooftops? But isn’t what I’m doing enough?
Hear us out – of course every action is an amazing achievement, but we’re still not where we should be. Accountancy practices hold the largest segment of market share at 57% for ESG assurance engagements, but this has declined by 6% since 2019. This could be due to a whole host of factors (COVID-19, cost of living crisis, interest rates rising, big tech layoffs, etc.) but it’s a worrying statistic none the less.
The benefits of implementing DEI and ESG are endless. Studies have shown that companies that prioritise DEI and ESG are often more innovative, make better decisions, and are more likely to achieve financial success – and let’s be real, who doesn’t want that? In fact, there’s not one single downside, but a lot of firms haven’t given it much thought. Before there’s change, there first needs to be awareness, and this can only happen when those of us who are making waves in the industry are actually seen doing it. So by displaying how you’re creating a more diverse and inclusive workplace, and shouting it from the rooftops, people listen. And we don’t mean just passively as they walk by, but really listen.
Okay, we don’t mean shouting it from the rooftops in the literal sense (unless you’ve got a megaphone lying around the office), but shout it from your social media platforms and internal comms. This is where your real influence resides. Another idea could be creating a dedicated page on your website to highlight your DEI and ESG initiatives. You could showcase training, policies, projects you’re working on, and success stories.
ESG and DEI at Bright
Here at Bright, we believe in making the industry a more equitable and inclusive space for everyone. Our approach is to treat every day as an opportunity to learn and grow. We’re big on listening to our employees, learning from them, and keeping them involved in the conversation as we grow our DEI and ESG muscles. We’re also aware that embracing DEI and ESG isn’t just a one-time effort. It requires continuous assessment and improvement – adjusting policies, monitoring diversity metrics, listening to feedback from employees and stakeholders, and making action plans where necessary.
AccountingExcellence Awards
Bright are proud to have sponsored the 2024 AccountingWEB Pride Awards in the DEI and ESG categories. This was our second year sponsoring these awards. All in all, if your practice is doing amazing things for DEI and ESG, don’t be afraid to shout about it. By sharing your accomplishments, you’re helping create a better world for everyone in your firm, the industry, and beyond.
Here at Bright, we create software for tax, compliance, practice management and payroll. We’re on a mission to make a happy and efficient working life a reality for accountants through reliable software and amazing support. If you’d like to take a look at our multi-award-winning product suite in more detail, book a quick demo of any of our products below.
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This content may have been developed with the assistance of AI tools. Content is reviewed by a member of the Bright team before publication. Guidance on legislation can be obtained from your industry body.
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