Exodus Part 1: Shifting US Tax Leadership Demographics

This webinar, the second in a two-part series, explores the effects of the impending exodus of baby boomer tax leaders on the tax profession. Key points discussed include:

1. The impact of managing four generations (Baby Boomers, Gen X, Millennials, and Gen Z) within tax departments
2. Strategies for identifying and developing top talent, focusing on both IQ (technical skills) and EQ (soft skills)
3. The importance of succession planning and transparent communication about retirement timelines
4. Challenges in retaining key talent, especially those identified as successors for leadership roles
5. The potential impact of economic recessions on retirement trends
6. The need for creative compensation and retention strategies to address market pressures
7. The growing trend of remote work and independent contracting in the tax profession

The presenter, Adam Golden, emphasizes the importance of proactive leadership in addressing these demographic shifts. He stresses the need for tax leaders to educate their financial and HR leadership about the unique challenges facing the tax profession.

The webinar concludes by highlighting the importance of career development as a key retention tool, even more so than compensation and flexibility. It also touches on the increasing opportunities for remote work and project-based staffing in response to the changing demographics.

This session provides valuable insights for tax leaders to prepare for and manage the significant demographic changes affecting the profession in the coming years.gnificant demographic changes affecting the profession in the coming years.