From boring to brilliant: How to make learning an exciting part of your firm’s culture

Want to know something that could give your accounting firm a serious edge? It might surprise you, but creating a learning culture in your accounting firm could be the game-changer you’ve been looking for. 

Let’s talk about this for a few minutes. Investing in your team’s growth through continuing education (it’s a requirement, anyway), skill development and education reimbursement programs isn’t just good for morale—it’s good for business. The research is clear: Learning culture initiatives significantly boost employee retention, drive innovation and offer substantial ROI. In fact, a LinkedIn Learning study shows that companies with a “strong” learning culture have a 57% retention rate. This is significant for accounting firms given the staffing shortage in the profession. 

In a profession where regulations (hello, new tax laws!) and technologies are constantly changing and evolving, it’s not just about keeping up. In fact, staying ahead of the curve is crucial. By fostering an environment where continuous learning is the norm (and dare we say, even exciting?), you’re setting your firm apart from the competition. A 2022 study by Workplace Intelligence revealed that 9 out of 10 employees are looking for employers who offer more professional development and growth opportunities. 

For those who love to see the numbers (and, let’s face it, that’s most of you), the ROI on building a learning culture is impressive.

A two-year study by the Lumina Foundation showed that for every dollar spent on tuition assistance programs, employers receive an average return of $1.29 in reduced turnover and increased productivity. It’s an investment that pays dividends in terms of employee satisfaction, client service quality and overall firm performance. 

So, are you ready to take your accounting firm’s learning culture to the next level and give your firm a competitive edge? What if you could make learning something your team actually gets pumped about? Sound crazy? It’s not. In fact, it could be the key to unlocking your firm’s full potential. 

So, how do you build this exciting learning culture in your accounting firm? Well, it all starts at the top. 

Lead by example

As with most things, this whole learning culture thing has to start with leadership. That’s right, partners and managers, I’m talking to you. When leaders get excited about learning, that excitement will trickle down to everyone else.

I get it, though. You’re probably wondering, “How can I show my excitement about learning?” Well, you’re in luck.

Here are some practical tips and strategies to help you foster a culture of continuous learning in your firm:   

1. Actively participate in learning initiatives and share your own growth experiences. This helps set the tone for the entire firm. Have you read a good article or book lately? Learned a new tech trick? Listened to a helpful podcast? Share it in your next team meeting! 
2. Provide diverse learning opportunities. Offer a good mix of professional education, leadership development, seminars, industry events, workshops and online courses. This caters to and helps meet the needs of different learning styles and interests. 
3. Set learning goals. Work with employees to create personal development plans that align with their career aspirations and the firm’s needs. And set goals for yourself, too. Show your team that you’re walking the talk. 
4. Encourage knowledge sharing. Implement mentorship programs, learning lunches and collaborative projects to promote the exchange of ideas and expertise. 
5. Leverage technology. Use AI-driven analytics, cloud-based solutions and other innovative tools to streamline processes and enhance learning opportunities. 
6. Recognize and reward learning efforts and progress. Establish recognition programs or innovation challenges to motivate employees to pursue continuous education. Did someone complete a course or get a new certification? If so, make a big deal of it! Maybe even create badges for milestones. (More on this later.) 
7. Create a supportive environment. Foster an atmosphere where employees feel comfortable sharing ideas, asking questions and taking risks. 
8. Allocate resources. Dedicate time and budget for learning initiatives, demonstrating the firm’s (and your) commitment to employee development. 
9. Stay current with trends. Encourage attendance at conferences and engagement with professional associations to keep up with the latest developments in the accounting profession. 
10. Embrace change and stay adaptable. Cultivate a mindset that values ongoing learning as essential for staying competitive in the ever-evolving accounting space. 

What does this all add up to?

By implementing these strategies, accounting firms can create a dynamic learning culture that engages and retains employees, enhances performance and drives innovation. And that ultimately leads to great profitability. According to research from Gallup, “Organizations that have made a strategic investment in employee development report 11% greater profitability and are twice as likely to retain their employees.” 

Strategize your plan 

You might be thinking, “That sounds like a great game plan, but will it really help my bottom line?” And that’s a great question! I’m glad you asked. When you offer your team opportunities for learning and growth, it fosters a growth mindset and a more engaged and productive team that stays adaptable. And that translates to better client service and a healthier bottom line. Here’s how:

1. It helps you stay ahead of the curve. The accounting profession is always changing. Establishing a learning culture keeps your firm on the cutting edge. 
2. It helps you attract top talent. The best and brightest want to work somewhere they can grow. And they want to work for someone who will invest in them. 
3. It helps you boost productivity. A learning culture leads to a team of power performers who are always adding to their knowledge and skill set.  
4. It helps you improve client satisfaction. The more your team knows, the better they can serve your clients. And the happier your clients are, the more services they’ll want from you.

Do your research 

So, about that game plan we’re working on. Let’s explore that a little more. You don’t want to tackle this alone, and you don’t want to start without input from your team. Here are some ideas to help as you strategize how to build your learning culture in a way that will motivate your employees to be active learners: 

1. Survey your team. Find out what they want to learn and how they prefer to learn it. While you’re at it, ask them what types of rewards are most meaningful, from extra PTO, gift cards to restaurants or maybe even a little bonus. 
2. Set up a learning committee. Get volunteers from different levels to help plan and coordinate learning initiatives. Maybe even find a learning champion—someone who can handle all the details. 
3. Budget for it. Show your commitment and enthusiasm by allocating resources for courses, conferences and materials. 
4. Make time for it. Allow every member of your team to block out dedicated learning time in their schedules. 
5. Recognize and reward. Acknowledge those who are actively participating in and contributing to the learning culture. And get creative with this (we have some ideas below). 

Make learning fun 

OK, you’re working on your strategy and game plan for building a learning culture. But how do you get your team as excited about learning as they are about remote work accommodations, flexible schedules and unlimited PTO?

Here are some ideas:  

1. Set up learning lunches. Grab some sandwiches and have someone share a new skill or tool they’ve learned. 
2. Create a learning library. Set up a space (physical or digital) where people can access and share courses, books and resources. 
3. Gamify it all. Set up friendly competitions or challenges around learning new skills. Everyone likes a little friendly competition, right? Award points for learning activities like completing courses, sharing knowledge or introducing new skills. 
4. Set up a learning leaderboard challenge. Speaking of competition, as you award points, think about setting up a visible leaderboard with reward levels to track progress. Consider prizes for reaching each reward level. (Remember, you asked them what types of rewards they want when you sent out your survey. Show them that you listened.) 
5. Highlight a tech tool of the month. Introduce and explore a new accounting or productivity tool each month. 
6. Invite guest speakers. Bring in experts from different fields to inspire new ideas and perspectives. 
7. Create an innovation spotlight program. This could be a monthly, quarterly or annual recognition, where you showcase an employee who implemented a new idea or improved a process. Feature them in a newsletter or social post, give them a chance to present at a firm-wide meeting, or create a physical space to highlight their achievement. Even better, pair it with a small bonus. 
8. Launch a learning culture champion award. This could be an award program where colleagues can nominate their peers. Set the criteria for nominations to highlight how the employee demonstrates the firm’s learning culture through actions and attitude. Winners could receive a unique trophy or plaque along with a meaningful perk. 

Get in on the action: Firms that learn together, thrive together 

Creating a learning culture isn’t just about ticking boxes for CPE credits. That’s a requirement. You need to encourage and cultivate a team that’s curious, adaptable and always improving. You want your firm to be a place where people are excited to come to work because they know they’ll grow. And this all happens when you prioritize your people by providing opportunities for development. 

It’s time to give your accounting firm a competitive edge and turn it into a learning powerhouse. Trust me, your future self (and your team and clients) will thank you!

If you’d like help developing your learning culture, Rightworks Academy can help. Reach out to our team today.