How Construction Companies Can Attract Young Accountants To An Aging Industry
Re-Published With Permission From Construction News and ReviewBy Mark Dunavin
The construction industry faces a growing challenge: an aging workforce coupled with a shortage of young financial professionals entering the sector.
As many experienced accountants approach retirement, construction companies must develop effective strategies to attract the next generation of accounting talent. According to Construction Dive’s 2024 Workforce Report, only 30 percent of construction firms feel adequately prepared to recruit younger professionals. To bridge this gap, firms need to understand the preferences and priorities of Gen Z and Millennials.
Emphasizing Flexibility and Work-Life Balance
Younger generations place significant value on work-life balance, making flexible work models a key factor in recruitment. Surveys reveal that more than 70 percent of young professionals prioritize hybrid or remote work options when choosing a job. Construction companies, traditionally rooted in office-based roles, must adapt by offering flexible schedules and remote-friendly accounting positions.
Implementation Tips:
- Introduce hybrid work models that allow accountants to work both onsite and remotely.
- Provide technology and resources that support seamless remote work, such as cloud-based accounting software and virtual collaboration tools.
Promoting a Purpose-Driven Career
Purpose and impact are increasingly important to younger accountants, who seek industries that align with their values. Construction firms can tap into this motivation by highlighting their role in building sustainable and environmentally conscious projects. According to McKinsey’s 2024 Green Building Trends, more than 40 percent of construction companies are now committed to green initiatives and sustainable building practices. This shift not only drives environmental progress but also appeals to younger professionals passionate about making a positive impact.
Messaging Strategy:
- Showcase sustainable construction initiatives in recruitment materials and job descriptions.
- Emphasize your company’s commitment to environmental responsibility, carbon reduction efforts and community impact projects.
Providing Clear Career Growth and Development
Young accountants prioritize opportunities for growth, learning and mentorship. A structured path for professional development can be a powerful recruitment tool. According to surveys, 65 percent of young professionals consider mentorship essential to their career progression. Construction companies can attract this talent by creating programs that foster skill development and career advancement.
Effective Growth Strategies:
- Implement mentorship programs pairing seasoned accounting professionals with younger staff.
- Offer access to continuing education, professional certifications and leadership training to help accountants build specialized expertise.
Highlighting Competitive Compensation and Benefits
While flexibility and purpose are critical, competitive pay remains a foundational factor for attracting young accountants. Beyond salaries, benefits that support well-being – such as mental health resources, wellness programs, and student loan repayment assistance – can make a substantial difference in recruitment.
Building a Future-Ready Workforce
By adopting flexible work models, emphasizing sustainability and investing in professional development, construction companies can appeal to young accountants who seek not just a job, but a dynamic and impactful career. With thoughtful strategies, the construction industry can overcome workforce challenges and build a vibrant, skilled financial team prepared for future growth.
Mark Dunavin is the founder of DFW Accountants, PLLC