By Dr. Rachel Anevski, PHR, SHRM-CP
There’s no gentle way to say it: much of the accounting profession is still led by a transactional mindset—focused on billable hours, rigid hierarchies, and what’s always worked in the past. But we’re not in the past. And if firms want to retain talent, grow sustainably, and stay relevant, we must evolve our leadership style. That starts with one word: transformation.
My doctoral research focused on the connection between transformational leadership and the retention of accountants in today’s workforce. What I found—backed by both data and lived experience—is that leadership isn’t just a title or a partner track. It’s a behavior. And the behaviors that matter most today are grounded in empathy, adaptability, and vision.
The Problem Isn’t the Work—It’s the Way We Lead
Accountants don’t leave because they hate accounting. They leave because they don’t feel seen. They don’t see a future for themselves. They don’t trust the leadership to build a firm that reflects today’s values.
Traditional leadership styles often focus on control, compliance, and short-term wins. Transformational leadership, by contrast, focuses on people, possibility, and progress.
What Is Transformational Leadership?
It’s more than just being “nice” or “inspiring.” A transformational leader:
- Creates a compelling vision for the future and communicates it clearly.
- Challenges the status quo and encourages innovation at all levels.
- Invests in people—not just through training, but through mentorship and support.
- Models values-based leadership that aligns words with actions.
In short, transformational leaders don’t just manage—they motivate. They cultivate a sense of shared purpose that makes people want to stay.
The CPA Profession Needs a New Model
We’re at a crossroads. Firms that cling to old models of leadership—command-and-control, gatekeeping, status over service—will continue to struggle with turnover, burnout, and stagnation. But firms willing to embrace a culture of shared leadership, mentorship, and human connection? Those are the firms that will win the future.
We can’t solve today’s problems with yesterday’s thinking. We need leaders who are willing to evolve.
What This Means for Your Firm
If you’re in a leadership role today, ask yourself:
- Am I creating psychological safety for my team?
- Am I developing leaders, not just managing staff?
- Am I listening to what people really want—or projecting what I think they need?
- Am I building a firm culture that’s worth staying for?
Transformational leadership isn’t a buzzword. It’s a blueprint. It’s how we build firms that attract, retain, and grow talent—especially the kind of talent that’s increasingly saying “no thanks” to outdated firm culture.
Final Thoughts
The CPA profession has been built on trust, consistency, and precision. Those qualities still matter. But if we want to build firms that last, we must add vision, courage, and humanity to the mix.
Because in the end, the most powerful tool we have isn’t a spreadsheet. It’s leadership.