The power of leading with vulnerability
By Randy Crabtree, CPA
April 29, 2025
Never show weakness. Always project confidence. Be in control of every situation.
Many of us had these mantras drilled into our heads throughout our careers. As accountants and financial professionals, we consider ourselves the posterchildren of certainty, precision and unwavering control. Those traits sound admirable — but at what cost? We have some of the highest burnout rates of any profession and we’re finding it harder and harder to convince talented young people to join our ranks.
But what if more of our leaders had the courage to be authentic and vulnerable? Could those attributes become the new leadership superpowers?
Leading with vulnerability doesn’t mean oversharing or losing your professional boundaries.
It’s about being authentic and acknowledging uncertainties. It means admitting when you're wrong. It means not being afraid to ask for help and creating an environment in which others feel safe doing the same. While traditionally viewed as weakness, vulnerability is
increasingly recognized as a profound leadership advantage.
Still not convinced?
- A University of Binghamton study found that leaders who were prepared to display vulnerability were 60% more likely to build trust within their teams.
- Gallup research shows that teams with leaders who display vulnerability saw a 25% increase in employee engagement levels.
- A Harvard Business Review study found companies that regularly promote a culture of vulnerability experience a 30% boost in both innovation and creativity.
- A paper published by the Journal of Organizational Behavior found that leaders who had high emotional intelligence, which is often characterized by vulnerability, saw a 20% improvement in overall team performance.
- Research from the American Psychological Association discovered that organizations who encouraged vulnerability saw a 40% increase in worker resilience, which led to lower turnover rates.
This research especially resonates within CPA firms, where precision meets the very human realities of burnout, staff turnover and the need for deeper connection and trust.
Building a culture of trust and transparency
CPA firms often pride themselves on their meticulousness and accountability. However, trust and transparency — cornerstones of a healthy workplace — cannot flourish in environments where admitting mistakes or uncertainties is discouraged. When leaders openly acknowledge challenges and uncertainties, they foster an atmosphere of psychological safety. A
McKinsey study confirms that psychologically safe environments enhance team performance, encourage innovation and significantly improve staff well-being.
For example, a managing partner who openly discusses their journey with stress management or who freely admits to making a strategic misstep doesn’t weaken their credibility; they become more human and more relatable. As a result, their staff will communicate more openly, will offer creative solutions without fear of retribution and will be more forthcoming when their workload or stress level gets too high.
For instance, I have been very open and honest with my team and clients about the stress-induced strokes I had a decade ago — and how I battled through the depression that followed. By sharing something so personal, it brought our team closer together as everyone realized our firm was a safe space where it’s okay to ask for help.
Attracting and retaining top talent
Consider two hypothetical CPA firms:
- Firm A emphasizes traditional, top-down management, focusing strictly on metrics and performance without acknowledging emotional and mental health.
- Firm B encourages leaders and staff to share their challenges, to discuss their mental health openly and to collaborate to manage workload stressors.
As a result, Firm B is more likely to attract professionals who seek sustainable, supportive work environments. Furthermore, Firm B is more likely to retain those professionals because vulnerability builds stronger, more loyal teams.
As our firm’s annual
CPA Career Satisfaction Survey found, accountants whose firms make mental health resources readily available to all employees (without stigma), were more than twice as likely to say they were “highly satisfied” in their careers than accountants whose firms did NOT make mental health resources readily available (83% vs. 41%).
Engagement and prevention of burnout
It’s no secret that burnout remains a chronic issue within the accounting profession. The CPA industry frequently ranks high in burnout statistics due to demanding workloads, stringent deadlines and expectations of perfection. Vulnerability can be transformative in addressing burnout because it opens an honest dialogue around workload and personal wellness.
Leaders who share their own burnout experiences or struggles with work-life balance give implicit permission to their teams to address these issues proactively. It removes stigma and fosters proactive discussions about how workloads can be better managed, how resources can be effectively allocated and how individuals can find support before burnout sets in.
When I finally admitted to myself (and my team) that I could no longer be the managing partner of the firm I co-founded, it freed me up to spend my time doing what I love to do most — travel the country educating the profession about specialty tax credits, and more recently about mental health. That admittance had a positive domino effect at our firm as everyone else migrated to roles that they were best suited for as well. It also taught me the value of delegating, since there were so many things I was trying to do as managing partner that others on our team could do better. That was a win for me and a win for our firm.
Driving firm growth through vulnerability
As mentioned above, leaders who practice vulnerability effectively create stronger, more cohesive teams. Cohesive teams innovate more readily, collaborate more effectively and deliver higher-quality service to clients. I’ve found that being authentic doesn’t just attract talent to your firm — it attracts clients, too. Clients see authenticity as strength because it signals that the advisor prioritizes accuracy, honesty and the client's best interests above appearing all-knowing. Further, leaders who foster vulnerability within their firms empower employees to innovate and offer creative solutions without fear of criticism. This culture of openness leads directly to higher client satisfaction, more confident employees, stronger professional relationships, and ultimately, sustained firm growth.
Practical steps for embracing vulnerability
Transitioning toward vulnerability as a leadership trait can feel daunting. Start small by modeling the behavior you want to see:
- Acknowledge uncertainties or mistakes in team meetings and discuss the lessons learned.
- Create dedicated forums for discussing workload challenges, mental health and work-life balance openly.
- Encourage and practice active listening to team feedback, demonstrating genuine openness to employee input.
- Highlight and celebrate instances in which team members or leaders have embraced vulnerability effectively.
The courage to be real
Leading with vulnerability requires courage. It demands a willingness to challenge traditional norms and the confidence to be authentically human. Yet, the payoff is profound: Healthier firm cultures, enhanced employee retention and engagement, reduced burnout and increased firm growth.
In today's rapidly evolving CPA profession, vulnerability isn't a weakness — it's the competitive advantage firms need. By embracing vulnerability, firm leaders don’t just build stronger teams; they redefine what successful, impactful leadership truly looks like.
Click here for a complimentary copy of our annual CPA Career Satisfaction survey to see how authentic leadership and abundant mental health resources can benefit your firm.
Randy Crabtree is a co-founder and partner of Tri-Merit Specialty Tax Professionals, a widely followed author, lecturer and host of “The Unique CPA” podcast.
