What public practice can learn from these three inspirational black leaders

Every year on the 18th of July, Black Leaders Awareness Day (BLAD) celebrates the incredible achievements of black leaders across the world, both past and present.??

It’s a day that invites people from all backgrounds, genders, religions and cultures to reflect on the important lessons that black leaders have given us. Their insights and experiences offer invaluable guidance that inspires the way accountants approach not just their work, but their clients and communities.??

In today’s article, we’re looking at the legacy of three black leaders who have helped shape the world of public practice and what they’ve taught us about success through adversity.??

The Current Landscape of Inclusivity within Public Practice?

Before we acknowledge the three inspirational black leaders whose stories we’ll be sharing today, let’s talk about the current climate of diversity within public practice.??

Whilst the topic of inclusivity has gained a lot of momentum over recent years, underrepresentation at senior levels within public practice is still a big problem.?

A recent study by The International Journal Devoted to the Behavioural, Organizational and Social Aspects of Accounting found that auditors from ethnic minority background were “less likely to become partners at accountancy firms.”??

Another study by the Financial Reporting Council reveals that only “1 in 3 UK audit and accountancy firms do not even collect diversity data for their workforce.”???

Even more shockingly, The Telegraph recently conducted a study that found that only 11 out of 3,000 equity partners at Big Four accountancy firms are black.?

Read our full article on the lack of fair representation at senior public practice levels here.?

Evidently, there’s still a lot of work that needs to be done to make public practice a more equal and inclusive space. Firms need to step up and foster an environment that offers progression to everyone.?

With that being said, let’s explore the incredible work of three black leaders who continue to inspire professionals across public practice. ?

Dame Vivian Hunt?

Dame Vivian Hunt, Senior Partner at McKinsey & Company, is a leading voice in the realm of diversity and inclusion within public practice.?

With a background in healthcare and sciences, Hunt has been instrumental in conducting research that highlights the economic benefits of diversity.?

Previously named ‘the most influential black woman in Britain by the Powerlist Foundation, Hunt has been on the board of some of the UK’s most important business groups including British-American Business, the CBI London Council and the Mayor of London’s Business Advisory Board.??

In 2018, she was appointed Dame Commander of the Order of the British Empire for her services to women in business.??

Hunt’s invaluable insights and advocacy work have informed policies and practices within accountancy firms, promoting greater inclusion and equity across public practice.?

Eric Collins?

Eric Collins, aptly nicknamed ‘The Money Maker’ after appearing in Channel 4’s show with the same title, is the CEO and Founding Member of Impact X Capital Partners.???

As a seasoned entrepreneur and investor, Collins has championed the importance of supporting Black and minority-owned businesses.??

Defined as a ‘serial entrepreneur who has worked with Microsoft and employed by Barack Obama when he was President’ by the Express, Collins 2022 book titled ‘We Don’t Need Permission: Unlocking Black Empowerment for Good’ offers an honest account of Collins’ own journey overcoming systemic racism as a person of colour within the corporate world.?

Collins’ work at Impact X Capital now focuses on investing in underrepresented entrepreneurs, offering crucial financial backing and providing mentorship to drive economic empowerment and diversity within the financial sector.?

Sharon White?

Dame Sharon White, the Chairman of John Lewis Partnership and former Chief Executive of Ofcom, has built an impressive career that spans both public and private sectors.??

White has been a trailblazer for Black professionals in finance. She was the first black woman to chair a large UK British retail business, John Lewis Partnership. She then progressed on to becoming the Chief of Ofcom.?

The daughter of Windrush-generation Jamaican immigrants, White comes from humble beginnings. After studying at Cambridge, White was fast-tracked through to the ranks of Treasury and became the first permanent black secretary.??

During the 2017 RTS Convention, White’s speech focused on the importance and power of transparency. “There’s an analogy between the gender pay data and what we’re trying to do on diversity – you can’t fix what you don’t understand. Some people fear transparency; personally, I think transparency creates trust.”?

Her leadership at John Lewis Partnership and as Ofcom Chief underscores the importance of financial acumen and strategic management in driving business success.?

While Black Leaders Awareness Day showcases the remarkable achievements of black leaders, such as the three we’ve spoken about, there’s still a lot more work to do.?

As we honor their legacies, we’re reminded of the ongoing efforts needed to achieve true equality within public practice and beyond.??

“The news that only 11 out of 3,000 equity partners at Big Four accountancy firms are black demonstrates just how far our industry has yet to go when it comes to diversity at the top tables. My firm has and always will make the topic of true inclusivity a priority and I encourage BAME accountants to reach out to talk about how we can work together to help them on their way to becoming leaders in our sector.” - Garry Howling, Managing Director of Public Practice Recruitment Ltd.?

Are you inspired by the stories we’ve shared today? Would you like to progress in your career with a firm that truly values you??

Here at Public Practice Recruitment Ltd, we champion diversity in the workplace by securing the best opportunities for accountants of all backgrounds. Together, we can create more black leaders to inspire future generations of accountants and the public practice of tomorrow.?

Get in touch with our team today to discover the best opportunities within public practice.??