In the third of three blogs exploring personal success, Rhys Madoc looks at ways to manage your career path.
The last few years have raised some challenging questions about how we work, where we work and why we work. I have discussed some of the challenges in previous blogs: for example, issues around recruitment and retention, leadership, and the role of lifelong learning.
But on an individual level, one thing is sure – more people than ever are choosing to re-evaluate their careers. Am I enjoying what I do, and where I work? Is it time to look at alternatives and, if so, how?
Career planning has always been integral to a successful working life for ambitious professionals, but seldom on such a wide scale as we see today.
Exciting and enticing propositions
The first thing we should note is that developing a career plan is not the sole preserve of a school leaver or graduate just starting out. It is as relevant and beneficial to anyone at any stage of their working life. As industries, commercial environments and technologies evolve, so do opportunities for personal and professional career development.
As an example, consider our profession. The career ladder for the accountant of previous decades was fairly predictable, with a likely progression from newly-qualified CPA, and with hard work, to eventual partner or managing partner in an accountancy firm, or a chief financial officer in a commercial enterprise. While this is still a laudable ambition, there are today many more options to pursue along the way that will appeal to those starting off in the profession, or those seeking to join it from elsewhere. Furthermore, as our profession continues to embrace and adapt to new technologies and ways of working, re-evaluating your career path can be an exciting and enticing proposition. For example:
The rise of accounting technologies (cloud-based services, blockchain, and AI-based analytics to name a few) fuels demand for those passionate about IT
Clients want sustainability expertise from their professional advisors. A specialism in ESG (environmental, social and governance) audit and non-financial disclosure is very likely to become a sought-after credential.
Accounting professionals at any stage of their career can benefit from numerous options such as these. I would recommend taking a look at the new ACCA career navigator,1 a useful framework which maps experience to competencies and potential career destinations in the profession. ACCA professionals practice across the globe.
Remember your transferable skills and stay flexible
For anyone planning or reviewing their career in accounting, many factors come into play, from reward and motivation to ability and self-fulfilment. The most important step to take, I would say, is finding time for an honest and objective self-assessment of your skills and capabilities, your motivations and what you believe in.
Evaluating your options within our profession could offer pathways to even more enriching prospects. The proliferation of opportunities for personal growth in accountancy means that skills such as negotiation, leadership, communication, people management and coaching (see my previous blog about intangible skills for more on this topic) are valued as much as complex technical expertise in the workplace and play a prominent role in UHY’s continuous professional development programmes. In UHY, our member firms continue to invest and participate in UHY’s own bespoke development programme for our future leaders developing such non-core skills to ensure continued added value for our clients and colleagues.
Whatever your experience or specialism, my advice would be to stay flexible and keep an open mind.
Job security and fulfilment are the results of working hard at finding or creating opportunities, and being prepared to keep learning: technical and soft skills training is available to support most requirements.
In summary:
A successful career strategy will identify the skills and experience gaps between what you have now and what you need to fulfil your ambition and achieve your goals
I acknowledge these are challenging times for career professionals and recruiters alike, but I also believe they are exciting times, full of opportunity and potential for all.
For more information, contact Alan Farrelly, Managing Director, UHY Farrelly Dawe White Limited alanfarrelly@fdw.ie
Acknowledgements.
1ACCA is the global body for professional accountants, and their qualifications are recognised and respected across the world https://careernavigator.accaglobal.com/gb/en.html