No matter what role staff play within an organisation, getting ahead—and increasing your marketability—requires staying up to date with professional trends. In the quickly evolving fields of accounting and finance, this can seem like a tall order. Recruitment firm Robert Half International gives advice on climbing the ladder.
Many of the changes for financial professionals stem from corporate governance regulations implemented in the early part of the decade. These have expanded the roles and stature of the profession in a business environment increasingly focused on ethics. Today, the renewed interest in bringing accuracy and transparency back to financial reporting has fueled demand for these practitioners and spurred interest in accounting as a career.
But to succeed, accounting and finance professionals must effectively address complexity in their fields and the need to stay up to date with emerging trends. In addition to complying with changing regulations, this new environment requires financial professionals to develop their expertise in the following areas:
Communication skills: As companies increase their use of cross-functional teams to manage special projects, they expect accounting staff to collaborate with individuals from other departments such as information technology, purchasing and marketing.
As professionals forge these new relationships, strong communication and interpersonal skills are essential, including the ability to convey complex financial information to non-financial audiences.
Technology expertise: It’s critical to stay up to date on the latest technological innovations in accounting and finance. In addition to learning about new software applications, it’s valuable to develop expertise in such areas as financial system conversions, and the design and implementation of custom accounting software.
You also should make an effort to learn all you can about your company’s financial systems—being able to maximise the use of new technology not only makes your job easier but also increases your value to your employer.
If you need to learn how to make best use of a new application, consider taking a computer or software class through a college or university programme (either online or in person), or participate in a local software user group for the product you would like to learn more about. You also may want to investigate programmes offered through professional associations, including seminars and publications focused on technology issues.
Consider obtaining a technology-related certification such as the certified information systems auditor (CISA) or the certified information technology professional (CITP) to differentiate you as a technology specialist within finance and accounting.
Global perspective: There’s a strong demand for accountants with international business skills. Indeed, organisations are seeking professionals who are not only familiar with global trends, but possess an understanding of accounting principles in other countries. For example, while many large companies outside of the US have already adopted International Financial Reporting Standards (IFRS), many US-based firms have not yet begun the initiative and require those with expertise in implementation.
Similarly, individuals who are fluent in multiple languages have an advantage when pursuing positions at organisations with international operations or overseas clients.
Never stop learning: Continuing to build your professional skills and knowledge is a key way to increase your marketability. How? Businesses actively recruit accountants who’ve taken the initiative to further their education, from obtaining a master’s degree in business administration (MBA) to pursuing a relevant regional certification programme.
Furthermore, research from Robert Half shows that a graduate degree or professional certification can increase the starting salary in a new job by up to 10%.
A final piece of advice: You’ll have a hard time achieving your full potential unless others are aware of your expertise and accomplishments. Pursuing new challenges, such as volunteering to participate on special project teams, will help you steadily build awareness and better position you for future advancement opportunities.
By taking proactive steps to develop a broad skill set, financial professionals will be well positioned for a successful future.
Working hard will always be critical to your success, but accountants with strong communication abilities, technology expertise, a global perspective and a lifelong commitment to learning place themselves on the fast track to career advancement.
Paul Arkwright
Publisher
