The demand for talent has been high in the accounting industry in recent years, especially professionals with 4-5 years of experience. Mazars CPA Limited, a global accounting firm, faces the talent competition in a “Mazars way”.

Talent Shortage
Edmund Chan, Practising Director of Mazars, recalls the years after 1997 when corporations reduced costs, resulting in redundancies. After a few years when the economy in Hong Kong bounced back in 2002, accounting firms faced serious staff shortages.

“When Hong Kong recovered quickly in the following years with an increase in merger and acquisition activities, professional accountants with up to 5 years of experience the market needed most, were extremely hard to find. There was a mad scramble for the key support staff needed to serve the needs at that time. There was simply insufficient accounting professionals to meet the demand.”

How does Mazars compete for talent on the market? What does the company offers to attract suitable job candidates to join Mazars? Chan says that in addition to a reasonable salary that is up to market standard, company culture is a key factor to attract and retain talent.

People-oriented Culture
Mazars adopts a people-oriented culture. Chan comments that this type of culture is not common in medium to large-size CPA firms. “We have a warm and open working atmosphere. Our senior staff are always willing to teach junior colleagues.” Hence, for university graduates joining the company as entry-level staff, they can rest assured that they will receive training and opportunities for development.

The “Mazariades”
For example, every year, instead of the typical annual or technical seminars that many firms hold, Mazars arranges their “Mazariades” which is a huge party for almost 1,000 staff worldwide from diverse backgrounds and cultures. “Last year, the event was held in Holland. This year the venue is Frankfurt. Those usually under the age of 30 attend, as it is a high-energy team-building event that is a lot of fun.

“It's a chance for young Mazars staff from around the world to interact and put the personal and human way Mazars does business into practice, in a social environment. Close relationships with clients is part of our business style, so this kind of event encourages our staff to understand the value of people working together to achieve common goals.”

Such events enhance the sense of belonging of staff as well as their interaction with colleagues from other overseas offices. Chan reveals that they usually select colleagues who have worked for 3-4 years at Mazars with outstanding performance to attend this event as recognition of their dedication and achievements.

Mazars also provides internships for local and overseas undergraduates, providing them with first hand experience of working at Mazars. Chan says that in exit interviews, some undergraduates have expressed an appreciation of the company’s people-oriented culture and the warm working atmosphere.

Rewarding Career
Chan comments that engaging in the accounting industry, and especially working in CPA firms, may involve long working hours. “Yet, graduates can gain more exposure and expand their horizons because clients come from different industries.” It is known that accounting professionals at CPA firms have to work overtime during peak times. Chan says that their staff are given a special payment as compensation during this period.

In addition to monetary rewards, Mazars provides intangible support to staff. For example, the company is careful in selecting clients. And to help staff learn and work with new accounting and audit standards in the industry from time to time, Mazars provides much knowledge support to staff.

For career development, it is quite stable in the accounting industry. Chan says that it generally takes around 8-10 years for staff to be promoted to senior managers and 4-5 more years to be partners in CPA firms. Chan is happy to find that some staff have worked for Mazars for many years. “They joined the company at junior level and are now holding senior management positions.”

Mazars provides audit, accounting, tax and advisory services in 46 countries around the world. The company has 100 years of history in Europe, and currently employs more than 2,000 staff in offices throughout Asia Pacific.

Photo source: Mazars CPA Limited