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Accountants need more than Excel to excel

24th Jul 2017
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We can all agree that the training new accountants is both challenging and rigorous, but it takes more than an in-depth knowledge of business, law and finance to move up the career ladder. Without further training and guidance in soft skills, such as people management, accountants might find it difficult to rise up the ranks to higher-level management roles.

Accountancy firms are not strangers to work-based training. Most accountants will have completed their qualification while working, putting the skills and theory they learn in the classroom into practice in the real world of business. But following the introduction of the apprenticeship levy earlier this year, the structure of learning may have to change.

In order to help larger accountancy firms make use of the levy, training providers may choose to convert their current accountancy qualifications to apprenticeships, continuing to focus on building the skills that are required for the job itself.

While learning the trade is crucial, accountancy apprenticeships are not the only way to make use of the levy funding, and forward thinking organisations may wish to consider a much broader apprenticeship programme that ensures they have all the skills they require to drive the business forward.

Traditionally, accountancy qualifications have focused on building up the technical skills required for the job. However, it may not provide the higher-level soft skills, such as communication and people management, needed to motivate a workforce, manage a team or bring in new business.

These skills are required for management-level roles and they are also crucial for productivity and growth, especially at a time when the political and economic climate is constantly changing, so it may be advisable to offer training in these skills further down the line.

With new technology presenting an increasing threat to the traditional role of the accountant, accountancy and consultancy firms need to find other ways to add value to their clients. By arming accountants with stronger management skill sets, they can go above and beyond the capabilities of technology, and will be able to make a significant difference to the organisation they are working with.

At The Open University, our chartered manager degree apprenticeship delivers in-depth training in all areas of management, including management strategy and ethics, which bolster the traditional consultancy offering. By ensuring that those on the ground have expertise in how to manage a business, the advice and guidance consultants can offer becomes more relevant and helpful to the organisation they are working with, adding value to the offering.

While management skills can add value for clients, higher-level management training also provides soft skills that often have to be learnt in practice, such as customer attraction and staff motivation, which can pay as accountants and consultants progress in their careers and move into management roles.

Never before has there been such a need for the 'learning organisation' - one that embraces lifelong learning and ensures that employees are constantly developing new skills will benefit the organisation in the long-term. This approach can help employees to push themselves up the job ladder, improving their engagement, motivation and productivity, but it also makes businesses more agile and adaptable - able to deal with the changing priorities and environments.

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