People management, communications skills and leadership ability are the most desired attributes for finance and accounting professionals
50 per cent of financial professionals believe people management skills are more valuable than technical skills
One in three respondents advise graduates to avoid specialisation and focus on ëgeneral accountingí practices
Employees want to develop soft skills
According to the latest Financial Directions Survey released today [30 August 2006] by specialised recruitment firm Robert Half International, finance professionals believe ësoft skillsí are more attractive attributes for prospective employers than pure technical know-how or specialist skills.
50 per cent of respondents nominate ëpeople managementí as the specific skill that would make them more marketable. This is closely followed by ëcommunications skillsí (42 per cent) and ëleadership abilityí (41 per cent), compared with just 25 per cent of respondents that nominate ëtechnical skillí.
The global survey of over 2,500 finance and accounting professionals looks at current trends in recruitment and provides comparative market analysis on topical workplace issues such as skills, training and development and qualifications. Overwhelming, the survey shows that communications skills have grown in importance for accounting and finance professionals across the globe.
Ian Graves, Managing Director Continental Europe, Robert Half International, said:
ìThe role of the finance professional has changed. They are no longer seen as only processors and analysts of figures but have an important role in giving strategic advice. This change is reflected in our survey findings with communications skills becoming one of the most important attributes of todayís finance professional.î
While the need for more engaging accounting professionals is a common theme throughout the industry, the most popular skill to acquire in the next few years is in people management with respondents in Australia (69 per cent), France (62 per cent) and the UK (60 per cent) citing it as the skill that would make them the most valuable in the market. Other important skills identified by UK respondents include ëleadership abilityí (57 per cent) and ëcommunications skillsí (40 per cent). Interestingly, only 27 per cent of UK respondents nominate ëtechnical skillí.
What employers want
In looking at employer attitudes it appears expectations on employees continue to mount. Asked about the most common mistakes made by newly qualified finance professionals during the first three months of employment, the majority identify ëlack of technical skillsí (16 per cent) and a ëpoor proactive attitudeí (15 per cent). Other nominated weaknesses include ëlack of communication skillsí (12 per cent) and ëlimited social competenciesí (eight per cent).
These perceptions are strongest among European nations with the majority of employers in Germany (32 per cent) and France (21 per cent) identifying ëlack of technical skillsí as the major downfall of newly qualified finance professionals. US employers however place a greater emphasis on soft skills with just eight per cent of respondents nominating ëlack of technical skillsí as a weakness as opposed to 19 per cent who identified ëpoor communications skillsí. In the UK, respondents cite ëweak communications skillsí (18 per cent), ëlack of proactive attitudeí (17 per cent) and ëlack of technical skillí (16 per cent) as the as the most common weakness amongst newly qualified finance professionals.
Ian Graves said:
ìThese results show that finance and accounting professionals need to acquire a wide range of skills. Todayís workplace is vastly different to five years ago and the pace of change demands flexibility. Employers must ensure they provide relevant training to meet the needs of all employees; from technical through to social skills as their career progresses.î
ìIntroducing mentoring programmes, taking courses in presentation skills training, and encouraging employees to volunteer for team leadership roles are excellent ways to become a more effective communicator.î
The future - advice for graduates
The Financial Directions Survey also provides some useful advice for graduates looking to embark on a career in finance and accounting. According to the survey, newly qualified candidates are best placed to remain flexible in their approach to employment with 32 per cent of respondents recommending graduates focus on ëgeneral accountingí as opposed to focussing on specific areas such as tax (19 per cent), cost (11 per cent) or auditing (seven per cent). This approach is most preferred in New Zealand (51 per cent), Czech Republic (48 per cent) and the UK (45 per cent).
Ian Graves said:
ìHistorically, people have found themselves in leadership positions simply because of their outstanding technical ability. Today, this is no longer enough. While industry knowledge, experience and expertise is important employers want to find the right mix of technical know-how and social awareness. Being able to apply general accounting skills with strategic leadership qualities is now the number one priority.î
Soft Skills increase market appeal
.
