A single topic keeps surfacing in conversations, meetings and publications: uncertainty about the future of our workforce. What started as a concern has now become a call to action. We’re finally seeing practical solutions begin to take root, including new pathways to licensure. But to truly overcome these challenges, we’ll need a range of strategies. One of the most essential: recruiting and retaining Black, Hispanic and Latino/a talent in the CPA profession.

According to the U.S. Bureau of Labor Statistics, demand for accountants is projected to grow by 6 percent through 2028. To meet this need, we must expand our talent pipeline by welcoming candidates from underrepresented communities. As Black and Latino populations grow, inclusive recruitment offers a much-needed pathway to fill these roles and reinforce the profession’s foundation.

“In today’s political environment, talking about a candidate’s race can be polarizing,” said INCPAS President & CEO Courtney Kincaid, CAE. “But the reality is, if we ignore the lack of diversity in the accounting profession, we’re missing a critical opportunity to securing its future. Without intentional action, our ability to attract and retain talent will be limited. If we’re going to meet the demands of tomorrow’s marketplace, bringing in Black and brown students is crucial.”

In today’s fast-paced, competitive landscape, focusing on diversifying talent is vital for organizations wanting to drive innovation, fill essential roles and sustain growth.

1. Driving Innovation

Innovation is a must for staying competitive, and diverse teams bring the creative power to make that happen. According to the Boston Consulting Group, companies with diverse management teams see 19 percent higher revenue from innovation. Diverse teams challenge conventional thinking, push for new solutions and connect more effectively with a broader range of clients. For organizations facing high pressure to adapt, diversity isn’t just a perk—it’s a competitive edge.

2. Leadership That Enhances Financial Performance

Diverse leadership strengthens financial performance, bringing unique perspectives that improve decision-making and prevent costly blind spots. A McKinsey study found that companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have above-average financial returns. For organizations focused on growth, people and culture are a bottom-line driver.

3. Fueling Economic Growth and Resiliency

As the economy becomes more interconnected, companies that embrace diversity are better prepared to capture new market opportunities. With minority populations growing faster than the overall U.S. population, and Black consumers projected to wield over $1.8 trillion in buying power in 2025, firms that build diverse teams are positioned to understand and serve these expanding markets, leading to stronger relationships and long-term growth.

4. Enhancing Business Reputation and Competitiveness

Today’s clients, investors, and employees expect organizations to prioritize a broad range of perspectives while maintaining high standards of excellence. Firms that cultivate inclusive talent strategies attract top professionals, build lasting client loyalty, and foster a strong workplace culture. This isn’t just about reputation—it’s about staying relevant and competitive in a rapidly evolving environment.

Building a sustainable workforce isn’t just a goal; it’s a necessity. The demand for skilled accountants and CPAs is growing, yet the profession has struggled to attract and retain talent that reflects the diversity of the broader population. Expanding recruitment efforts to include Black, Hispanic, and Latino/a professionals isn’t just a response to the talent shortage—it’s a strategic move that strengthens our ability to innovate, adapt, and lead. Organizations that broaden their talent pipeline will be better positioned to meet client expectations, navigate economic shifts, and drive long-term success. This isn’t a separate initiative—it’s a core business strategy. By ensuring that skilled professionals from all backgrounds have access to opportunities, we create a more resilient future for the accounting profession, equipping it to tackle the challenges and opportunities ahead. 

INCPAS & NABA, Inc. Launch ConnectIN — A Collaborative Initiative to Strengthen Indiana’s Workforce & Pipeline

INCPAS and NABA, Inc. launched ConnectIN, a collaborative initiative designed to strengthen talent pipelines, workforce development and entrepreneurship in fields such as accounting, finance, business, AI and emerging technologies. It is an important step toward expanding employment opportunities for Hoosiers by establishing a comprehensive talent pipeline from high school to college, professional certifications and beyond.

In response to persistent talent shortages, ConnectIN seeks to build a stronger workforce that reflects the needs of modern businesses while creating large-scale community impact. Our partnership will focus on four key objectives in Indiana, including:

• Boosting high school and college graduation rates.
• Increasing bachelor’s
  degree attainment.
• Expanding access to professional credentials.
• Promoting economic growth and leadership.