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. Diverse Teams Drive 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. Diverse Leadership 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, DEI is a bottom-line driver.

3. Diversity Fuels 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 $1.8 trillion in buying power by 2023, organizations 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

Organizations that embrace DEI attract top talent, build lasting client loyalty and foster a positive culture. This commitment isn’t just about reputation; it’s about staying relevant and competitive in a rapidly changing environment.

As we look toward the future, building a sustainable workforce isn’t just a goal, it’s a necessity. Demand for skilled accountants is growing, and if we want our profession to thrive, DEI must be at the heart of our approach. Bringing in Black, Hispanic and Latino/a talent isn’t just one solution to the talent crisis; it’s a strategic decision that strengthens our ability to innovate, adapt, and compete.

Organizations that make DEI a priority will be better prepared to meet client expectations, respond to economic shifts and drive financial performance. Diversity can’t be a separate initiative—it’s a core business strategy. By expanding our talent pipeline to include underrepresented communities, we create a more resilient future for the accounting profession, ensuring it’s ready 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.