A New Balance Sheet

June 2008

By Rosalind Stefanac
Photographs: Nance Ackerman/klixpix
CA Magazine

As employees look beyond a salary for satisfaction, employers are offering new benefits to help them meet their goals

As an avid surfer living in Nova Scotia’s Cow Bay, Todd King has an ongoing dilemma. Because the storms that generate good surfing conditions in Atlantic Canada are short lived, he often has less than 24 hours to get on his surfboard to catch the optimum wave. “As a surfer, if you know there are waves breaking in reach of you and you can’t get to them, you’re like a rat in a cage,” he says. Fortunately, this 38-year-old CA has the flexibility at work to get up and go whenever the tide is right. “No one is surprised to see me walk out the door at 2 p.m. to go surfing, but then again, no one is surprised to get an e-mail from me at 11 p.m. either,” he says.

An associate partner with Deloitte’s tax division in Halifax, King opted for a flexible work arrangement almost from the first day he started with the firm 15 years ago. “Obviously part of the arrangement is that I would never let clients or staff suffer because of my schedule,” he says. “And there’s never been an issue.”

In addition to having the leeway to come and go as needed, King works from home one day a week, which he says gives him valuable time with his two young children and spouse. In fact, he says the freedom of his current work setup is the No. 1 reason he’s with Deloitte. “I realize not every employer is willing to accommodate this kind of flexibility, but in the long run it makes for happier, more fulfilled employees.”

For CA Scott Ballantyne, having an employer willing to stretch the rules on office hours has enabled him to take on the coveted position of head coach for the men’s baseball team at Wilfrid Laurier University in Waterloo, Ont. “In the fall, when the season is in full force, we play or practise every day of the week and that means leaving work early or at least on time every single day,” says Ballantyne, who was assistant coach for three years and played on the team for five years. Off season, he dedicates hours to recruiting and continuous training for the team, but he often schedules practices for 6 a.m. so he can head into the office right after. “It comes down to trust because [my employer] trusts I’m going to get everything done from a work perspective while still doing things I like to do outside of work.”

An assurance manager at Ernst & Young in Kitchener, Ont., 27-year-old Ballantyne believes having something to look forward to outside of work makes him a better employee. “I’m going to work harder to get the task done so I can get to the events I want to.” Last year, he was named Ontario University Athletics Coach of the Year.

King and Ballantyne are evidence of an increasingly changing mindset in today’s workforce as employees put a premium on time for life outside the office. According to a recent survey of Canadian 30 year olds conducted by Ipsos Reid and commissioned by Benefits Canada (a magazine for sponsors of pension and benefits plans), for this generation spending time with family, finding time to relax and saving for retirement are top priorities ahead of travel and career advancement. A majority (69%) would also opt for an extra week’s vacation over an extra week’s pay and 60% believe employers should provide at least four weeks’ vacation a year.

In a similar vein, a January 2006 survey of CAs under 35 conducted by the Canadian Institute of Chartered Accountants (CICA) revealed that most (69%) CAs rate work/life balance as a very important factor in their current work environment, and 77% say a lack of it was the most common reason for leaving their original training firm.

Lynn Pratt’s work schedule allows her freedom and time to attend to her kids when needed.

In a profession where new recruits are often scarce, CA firms are addressing employee wish lists and courting new candidates by limiting the excessive hours traditionally expected of those starting out in the profession. “We find some [employers] taking advantage by overworking students, but we see that as a very short-lived approach,” says Mike Nakanishi, partner with D & H Group in Vancouver. “We try to schedule jobs and responsibilities so they’re spread evenly and no one is working excessive overtime — in particular for students who need time to study.”

Students who successfully pass the UFE while at D & H are encouraged to take the following summer off as vacation. “They have worked hard and we want them to recharge,” says Nakanishi. “When they come back to us in the fall, they are more focused and energized.” From his perspective offering such incentives makes business sense. “The quality of staff is key, and in this market, retaining good-quality people is key to your survival.”

But new CAs are not the only ones opting for more personal time outside work. As a partner, Nakanishi takes advantage of his company’s sabbatical program, which consists of up to eight consecutive weeks off — in addition to standard vacation time — available to partners every three years. “My most notable trips with the family have been with this program,” says Nakanishi, who has been with the firm 20 years. “And the partners chip in so you don’t come back to two months of work piled on your desk.”

Moira Bryans, CICA’s work/life strategy committee chair. Guy Marchessault: looking to spend time with his young family

Ottawa-based public accounting firm Scott Rankin & Gardiner uses the seasonality of the industry to its advantage by closing shop on Fridays during the summer. “Our clients take breaks in July and August as well, and employees really value the extra time off,” says partner Lyman Gardiner. By offering these breaks during the slower periods, he says staff is more receptive to putting in overtime during the busy tax season.

For CAs such as Helen Mallovy Hicks fewer hours in the office translate into more time with her family. A partner in the valuation and strategy advisory group at PricewaterhouseCoopersin Toronto, Mallovy Hicks has been on a flexible work arrangement since the birth of her first child 15 years ago. While she started off at an 80% work schedule when her daughters were infants, she now has a 95% arrangement that ensures she gets the extra holiday time when she needs it. “I get to spend quality time with the children when they’re off at Christmas and in the summer and still go to all the parent/teacher interviews and sports tournaments,” she says.

Many companies also recognize employees’ desire to spend time with family by offering seasonal work schedules, telecommuting options, paternity leave and financial assistance in terms of maternity top up and adoption assistance. Ernst & Young offers employees up to $10,000 per adopted child and gives adoptive parents the option of paid paternity leave.

But beyond flexible schedules, more and more employers are recognizing the benefits of services that promote work/life balance by helping employees meet their personal as well as professional goals. While subsidized gym memberships and fitness activities have become almost standard, firms such as Deloitte have expanded wellness subsidies to include environmentally friendly initiatives such as transit passes and energy-saving light bulbs. Free wellness seminars in offices across the country offer information on a variety of topics, including stress management and nutrition.

PricewaterhouseCoopers’ employees involved in charitable activities get time off and help with resources through a volunteer grants program offered by the firm. Up to 100 grants worth up to $2,500 each are given to existing or emerging charity leaders every year.

During the busy tax season, KPMG sponsors weekly draws for free housecleaning, massages, restaurant dinners, private movie screenings and family weekend getaways to resorts in the Laurentians and the Rockies. At Ernst & Young, a discounted meal delivery service to the office or home means employees can eat well during busy periods at work. An employee concierge service will take care of booking tickets for events, finding presents for family members and even scoping out the top tourist attractions when traveling.

Cherine Zananiri, director of human resources at RSM Richter in Montreal, says the payoff for firms is really about retention — keeping employees motivated so they enjoy what they’re doing and think twice before going elsewhere. “Talent is scarce and succession planning is a huge piece going forward,” she says. “We want to recognize that employees are working hard. It’s how we’re grooming them to be our future leaders.”

According to Maclean’s annual list of Canada’s Top 100 Employers in 2007, a number of the larger CA firms are doing a commendable job of accommodating this growing need for personal time in an effort to attract and retain the best and brightest in the field. But the profession isn’t quite there yet. Taking advantage of formal alternative work arrangements at most of the big firms is still the path of the minority.

While companies may have formal policies in place when it comes to alternative work arrangements, the question remains whether people are actually using them. In the CA profession, a lot rests on the nature of the job. “Obviously if we look at something like auditing, it’s a little more difficult to have flex time,” Zananiri says. “Business needs prevail, but flexible arrangements will be made whenever possible. In the past year, for example, a more effective remote access solution has been made available to all employees, making it easier to work at home.”

Barbara Vigilante, former manager of a committee called Work/Life and Women’s Initiatives at the American Institute of Certified Public Accountants, says the tone at the top of an organization is a telling factor in how many employees opt for such arrangements. “The key is to find out what the culture of the organization is and if people feel freely able to use [these policies] without penalty,” says Vigilante, who now works as a consultant on work/life and women’s issues. “The reality is that going on a flex-work arrangement might delay progress in your career, but it’s a trade-off you take.”

Stephanie Rivers, senior manager at Scott Rankin & Gardiner, was lured back to public practice from industry because of an opportunity to work part time and have her summers off. But Rivers admits she is probably not at the same place professionally as she could have been if she hadn’t had a flexible schedule throughout most of her career. “I’m middle-aged and if I’d worked and worked, I could have been a partner or a CFO, but I don’t regret it,” she says. “I may not have as much money but I feel I’m happier.”

Given that the majority of female accounting graduates are opting for more time to be with their children, Vigilante believes this is a route more CAs will take. “We know women having children is one of the catalysts for workplace flexibility, but it has also broadened as something that affects everyone,” she says. “Fathers are more involved than ever in childcare and they’re pushing this envelope too.”

Guy Marchessault, audit partner with BDO Dunwoody in Montreal, is a prime example. As a father of four (ages three, five, seven and eight), he doesn’t like to mix business with family time. “If I’m away from the office, I’m away, so forget about me,” says Marchessault, who aims to be home early at least one night a week to spend time with his children. He can also count on one hand the number of weekends he’s worked in the past few years and says his colleagues and clients are quite receptive to his schedule. “It’s a personal choice to have a certain quality of life outside of work and we do business with people who are like us and have similar values,” he says. Still, Marchessault admits that setups like his aren’t the norm just yet. “It’s a competitive market and employees compare themselves,” he says. “If they miss several months, they know they may miss some opportunities and they can’t have that continuity with clients.”

The ultimate challenge to employers is providing exceptional service to clients while accommodating a variety of employee schedules, says Bev Simonsen, associate partner, performance rewards and operations at Deloitte. “It all comes down to planning and working directly with managers to be flexible in how things are done,” she says, noting that sometimes employees have to adjust schedules to meet business demands. “It does take time and planning to get it right.”

Making an alternative work arrangement means being realistic about what you can take on in terms of workload, says Georgina Tollstam, a partner with KPMG’s tax division in the Greater Toronto Area. She was promoted to partner while on a four-day week — a schedule she continues to maintain even now that her children are away at university. However, she admits it’s not always feasible to progress at the same rate as someone working full time. “I don’t think if you work four days a week you can necessarily say, ‘I’m going to be the leader of this initiative and I’m going to have a huge client base,’ ” she says. “The frustration of some people who can’t make it work is that they’re trying to do everything at home and at work. Something has to give.”

Nevertheless, employees on flex arrangements shouldn’t be relegated to only routine assignments, believes Tollstam. “Most CAs are highly driven, motivated people. They may be willing to sacrifice a day off to be able to do a challenging assignment from time to time,” she says. “They shouldn’t be looked over.”

CAs across the country are being encouraged to share their best practices when it comes to successful work/life strategies through a committee formed by the CICA. Modeled on Vigilante’s group in the US, The Work Life Committee is comprised of CAs in various work settings from across Canada. The committee provides employers and employees with information and resources on issues around work/life balance. “A lot of members have good examples of what worked for them and the more we can share that and extract best practices the better,” says committee chair Moira Bryans of Vancouver. “Individuals really have to take responsibility for making those work-life decisions that will satisfy themselves and their employers.”

Lynn Pratt, a partner with Deloitte in Ottawa who has been on an 80% work schedule for the past nine years, says it’s all about being flexible — from both an employer and employee perspective. “I work five days a week because I find it difficult to be away from clients for a full day,” she says. “But when I need to take my kids to an appointment, I have the freedom and flexibility to do that.” Pratt believes employees who aren’t getting the work/life balance they’d like just aren’t exploring the opportunities available to them. “I think firms are more accepting than people think they are,” she says. With more women joining the partnership ranks at Deloitte, Pratt also expects this shift toward balancing work and home will become more prominent. “When you have those situations at a partnership level, it has to filter down because there is a better understanding of what it takes to balance multiple objectives,” she says.

Tollstam agrees. “I think intellectually all the firms recognize this need to be flexible,” she says. Tollstam has several employees who have taken leaves to pursue educational opportunities, tend to elder care or devote time to children or other interests outside of work. “We’re very focused on retaining talented people because the marketplace is getting smaller,” she says. “I’ve never refused anyone who has come to me. If you have a good person who works for you, you’ll do what you need to do to keep them happy.”

Rosalind Stefanac is a Toronto-based writer and editor