If today's CPAs mirror others of their generation, then they want less work time and more family time.
by Rick Telberg
Career Feature
Who'd ever have thought that the turn-on-and-drop-out generation of the '60s and '70s would turn into a force of workaholics with a penchant for office time over family time? This is just one of several important trends that may mean long-term challenges for accounting firms.
A survey conducted by the Families and Work Institute has found that 22 percent of Boomers are "work-centric," compared to 12 to 13 percent of other generations. Meanwhile, 52 percent of Gen-X are family-centric, compared to 41 percent of Boomers.
The study holds clues to recruiting, retaining and grooming CPA talent in the 21st century. The lessons should be studied and understood by hiring managers at CPA firms and in business and industry alike. But the data could also help rank-and-file CPAs understand and grapple with the workaday conflicts they face in balancing the career and personal life.
The study also parallels recent research that suggests fewer people are lusting after becoming partner in a firm, or chief executive of a Fortune 1000 company.
One can imagine why the children of these hardworking Boomers are showing a marked shift toward more time at home.
The survey found that Gen-X fathers (those 23 to 37 years old) are spending 50 percent more time with their children than Boomers did in their younger days. Likewise, Gen-X, especially the women, are more likely to turn down career opportunities if the added responsibilities mean less time for family.
An increasing number of men, too, are less attracted to the high-earning positions in their companies. The "bad-mood meters" of their bosses hint of managers' dissatisfaction with job and life.
Of those who want jobs with less responsibility, 44 percent are at least somewhat likely to look for work elsewhere.
Does this mean trouble for American productivity?
Not necessarily.
Family-centric and dual-centric workers, the survey found, exhibit better mental health and satisfaction with their lives and jobs. And the more they like their jobs, the longer they're willing to work each week. In fact, the younger generations spend about as much time at work as their older peers.
These trends may mean trouble for accounting firms.
Just as it suffers a dearth of qualified professionals, those who are qualified may be less inclined to strive for success. They'll put in the hours, but their minds will be on their families. They don't want to get ahead; they want to get home. Many may want opportunities to move down in the company rather than up. Time-off may mean more than time-and-a-half.
That's something for management Boomers to think about while they're working late, when it's quiet because everyone else has gone home.
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