The accounting and finance industries have long grappled with the stark underrepresentation of Black professionals. Addressing this disparity, the National Association of Black Accountants (NABA) stands as a beacon, committed to uplifting Black accountants and dismantling the barriers that impede their progress. In an exclusive interview with Guylaine Saint Juste, President and CEO of NABA, Vishal delves into the challenges faced by Black accountants and the organization's mission to foster inclusivity.
Chapter 1: A Year-Round Celebration of Black Excellence
NABA’s Continuous Recognition:
For NABA, every month is an opportunity to celebrate Black excellence. Guylaine Saint Juste emphasizes the importance of recognizing the achievements of their dynamic membership, whether it's earning CPA licenses, securing promotions, publishing articles, launching businesses, or mentoring young talents. This perpetual celebration is instrumental in highlighting the diverse ways in which NABA members thrive.
Chapter 2: NABA’s Vision for Diversity and Inclusion
New Leadership, New Vision:
With Guylaine Saint Juste taking the helm as the new CEO, NABA is envisioning the next 50 years. The goal is clear: to organize, mobilize, and inspire the NABA Nation under the banner of "One NABA, One Voice." The organization is determined to improve Black representation across all business levels, including the C-Suite and governing boards. NABA Nation seeks to collaborate with like-minded entities, paving the way for a more just world where Black individuals can contribute fully and creatively.
Chapter 3: Analyzing Underrepresentation in Accounting
Data on Underrepresentation:
While Blacks and African Americans constitute approximately 13.4% of the 2019 U.S. population, the representation in the accounting and finance fields is starkly lower. According to research from IMA and CalCPA, only 8.9% of accountants and auditors, 1.4% of Fortune 500 CFOs, and less than 1% of 2018 finance partners are Black. NABA recognizes the substantial opportunity to elevate these numbers and serve as a strategic partner in building a more inclusive talent pipeline.
Chapter 4: Fostering Support for Black Professionals
Moving Beyond ERGs:
Guylaine Saint Juste challenges the notion that Employee Resource Groups (ERGs) alone are sufficient in supporting Black professionals. NABA advocates for a more comprehensive approach, urging companies to clearly define competencies essential for advancement and promotion. Investing in these competencies is crucial for fostering an environment where Black individuals feel safe to be disruptors and contributors.
Chapter 5: Decoding Expectations for Advancement
Barrier to Advancement:
While companies predominantly hire based on skills, experience, and academic achievements, they often terminate based on values and competencies. Guylaine Saint Juste stresses the importance of "decoding" expectations intersecting authenticity and cultural norms. Diverse slates of candidates, succession plans, and developmental opportunities must be broadened at all levels to drive meaningful outcomes.
Chapter 6: The Business Case for Diversity
Value of a Diverse Workforce:
Mounting evidence supports the notion that diverse teams yield positive outcomes, such as increased revenue, higher sales, and improved expense control. NABA underscores the urgency for companies to translate awareness into action, urging them to emulate Nike's iconic slogan: "Just do it."
Chapter 7: The Role of Black Representation in Finance
Crucial Role in Finance:
NABA firmly believes that accounting is to money and wealth what keys are to music. The correlation between diverse teams and better results underscores the need for Black representation in the financial sector. If the goal is to bridge wealth and income gaps, it starts with diversifying the field.
Chapter 8: A Message for Black Accountants and CPAs
Empowering Words:
Guylaine Saint Juste’s message to Black accountants and CPAs is simple yet powerful – always be learning, be brave and courageous, maintain integrity, and become an adviser to your clients. These principles are the guiding lights for Black professionals navigating the accounting landscape.
NABA’s Pioneering Efforts
The interview with Guylaine Saint Juste sheds light on NABA's pioneering efforts to empower Black accountants. By continuously celebrating achievements, envisioning a future of inclusivity, and challenging existing norms, NABA is steering the industry toward a more equitable and diverse future. As organizations like NABA pave the way, the accounting field inches closer to becoming a welcoming space for Black professionals.