Exodus Part 2: Leading Your Multi-Generational Tax Department

This webinar, the first in a two-part series, explores the impending exodus of baby boomer tax leaders and its implications for the tax profession. Key points discussed include:

• Two-thirds of current heads of tax are expected to retire within the next 8 years, with the majority leaving in the next 4-5 years.
• 52% of those in number two positions are also projected to retire in the same timeframe.
• The limited pool of Gen X professionals to fill these roles, often due to specialized rather than broad experience.
• Regional variations in retirement trends and their potential impacts.
• The unique challenges of the tax profession's restricted labor pool and reliance on service providers for training.
• The need for accelerated development of millennial talent to fill leadership gaps.
• Potential impacts of economic conditions on retirement trends.

The presenter, Tony Santiago, emphasizes the importance of educating financial and HR leadership about these demographic shifts and their implications. He stresses the need for proactive succession planning, talent development, and retention strategies.

The webinar concludes by highlighting the importance of balancing IQ (technical skills) and EQ (soft skills) in identifying and developing top talent, and touches on the growing trend of remote work and independent contracting in the tax profession.

This session provides valuable insights for tax leaders to prepare for the significant demographic changes affecting the profession in the coming years.aders navigating the complex and rapidly changing talent landscape in the US tax market.