Xero launches Mentor Program to accounting and bookkeeping Image Problem
New research from Xero, a global small business platform, reveals that nearly half of accountants and bookkeepers (45%) believe their industry suffers from an “image problem.” In response, Xero has introduced Xero Mentor Match, a peer-to-peer mentoring program for its Australian accounting and bookkeeping partners.
The findings are detailed in the report, *Reshaping Accounting and Bookkeeping: Image, Talent, and the Way Forward*, based on surveys of nearly 400 accountants and bookkeepers in Australia and New Zealand. The report examines how the professions are perceived and the impact of these perceptions on the industry’s talent shortages. Additionally, a second survey of 155 university students in Australia and New Zealand studying accounting found that 41% agreed the industry has an image problem.
Addressing accounting and bookkeeping industry
The research shows that 81% of accountants and bookkeepers believe the image problem stems from the perception that their work is boring. Meanwhile, 63% of students cited a lack of awareness about the full scope of accounting roles as a contributing factor.
With fewer students pursuing accounting and 65% of employing practices struggling to find and retain the right staff, the need to communicate the opportunities and satisfaction in accounting careers has become increasingly urgent.
Program to accounting and bookkeeping Image Problem
Theo Konstantas, Sales Director for Xero Australia and champion of the Mentor Match program, stated, “The talent and skills shortage is one of the most significant challenges facing practices today. This report is the first to explore the perception problem, helping us understand why firms are battling this issue, and consider how Xero can help.”
Xero Mentor Match, developed in collaboration with Australian-founded Mentorloop, allows accountants and bookkeepers in Xero-partnered practices to connect and share skills. Konstantas emphasized that the program aims to highlight the dynamic and innovative aspects of the profession, inspiring both seasoned professionals and the next generation of talent.
Despite the perceived image problem, about half of accountants (50%) and bookkeepers (49%) surveyed would still recommend their profession to others, citing “the opportunity to do purposeful work that makes a genuine difference” as a key motivator.
To combat the talent problem, employing practices have implemented initiatives like offering remote or flexible working (61%), part-time opportunities (52%), and promoting inclusiveness and wellbeing (45%). These efforts align with the priorities of emerging talent, with many students identifying benefits like flexible working and clear career development pathways as crucial.
Shannon Feeney, an undergraduate accountant at Yield Advisory, shared that her firm’s focus on training and development was a major draw. She noted, “There’s a perception that accounting can be boring, but learning from professionals with diverse responsibilities has shown me how dynamic the profession can be.”
