The Young, the Old, and the Middle-Aged Finance Team

Stay Sharp. Welcome to Executive Edge.

America is a melting pot, and so is the finance and accounting industry. A melting pot of generations, that is. 

In our experience, each group contributes unique perspectives, skills, and value to a forward-thinking organization. In the race for the best clients, companies can start strong by leveraging the strengths of each generation and overcoming their challenges. 

In the last edition of Executive Edge, we discussed how executives and employees at all levels value flexibility in their workplaces. In this edition, we will discuss how companies can bridge the generational gap between retiring and emerging finance and accounting leaders, turning the best attributes of each into a competitive advantage. 

Also, we’ll explore how companies can use succession planning to pass on knowledge from retiring employees and identify future leaders to prepare for key roles.

Key Takeaways

• Generational diversity in finance teams offers unique perspectives and complementary skills
• Effective succession planning is crucial for knowledge transfer and leadership continuity
• Tailored retention strategies are essential for engaging multi-generational workforces
• A well-balanced C-Suite that leverages generational strengths drives organizational success

The Generation Gap and the Bridge We Build

86% of Gen Zs and 89% of millennials prioritize purpose in their job satisfaction.

Baby Boomers often prioritize traditional work structures and long-term tenure, valuing stability and experience. 

Gen X professionals tend to bridge the gap between older and younger generations, combining traditional approaches with adaptability. 

Millennials and Gen Z emphasize flexibility, work-life balance, and purpose-driven roles. They expect mentorship and development opportunities to feel invested in their positions.

Each generation brings distinct leadership techniques to the table. Baby Boomers often employ a more hierarchical approach, leveraging their extensive institutional knowledge. Gen X leaders may blend traditional and modern styles, while Millennials and Gen Z tend to focus on adaptability, continuous learning, and cross-functional collaboration. 

Loyalty across generations is fostered through different means. Boomers may value long-term stability, while younger generations prioritize growth opportunities and alignment with personal values.

Our Compliments to the C-Suite

61% of Gen Zs and 58% of millennials believe they have the power to drive change within their organizations.

People don’t need to focus on the age gap, and even if they did, there wouldn’t be much they could do about it. When different generations work together, they create a powerful synergy.

Baby Boomers bring industry knowledge and experience with economic shifts. Gen X offers balance, bridging traditional and modern approaches. Millennials and Gen Z add tech skills, innovation, and a focus on purpose-driven work to keep organizations competitive.

Once a team functions seamlessly across generations, the C-Suite can recognize and nurture high performers to assume more strategic roles. Leadership development and mentorship programs can nurture emerging talent and allow soon-to-be-retiring talent to pass on their knowledge. 

The succession planning opportunities here are beneficial to all involved and should be encouraged to ensure smooth transitions and preserve institutional knowledge.

Generations Aren’t Labels or Roadblocks

88% of organizations are planning to enhance their leadership development programs in the coming year.

No one person is defined by their age group, nor any other single factor. Every employee at your company was hired for a reason and has their own value to offer. 

Certain employee retention strategies transcend generational differences and apply almost universally across the finance and accounting industry (and the entire modern workforce): 

• Offer competitive compensation and benefits packages
• Provide challenging projects and growth opportunities
• Embrace flexible work models to accommodate changing priorities
• Recognize and value individual contributions to the organization

When the C-Suite is attuned to the advantages each team member offers, regardless of generation, the entire organization benefits.

As Jamie Hersh noted in our recent virtual event, “The best thing a leader can do is create future leaders.” This sentiment underscores the importance of nurturing talent across all generations to ensure long-term organizational success.

As Jamie Hersh noted in our recent virtual event, “The best thing a leader can do is create future leaders.” This sentiment underscores the importance of nurturing talent across all generations to ensure long-term organizational success.

What’s Next for CFOs?

43% of finance leaders say establishing finance as a partner to the business is one of the top three priorities.

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There is more on the current trends in finance and accounting leadership in Transcend Search & Strategy’s market report, Finance & Accounting Trends Shaping the 2025 C-Suite.

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