Bridging the gap in the finance skills market

Two-thirds of accounting professionals find it difficult to hire qualified staff for their teams. Lacking the necessary abilities within a team means that companies are missing out on new clients, business opportunities, and the option to innovate and grow. 

Meanwhile, a worldwide focus on upskilling in finance holds the potential to lead to nearly 6% global GDP growth by 2030. An intensified focus on different ways of working and an embrace of technology in the financial world mean that this number is likely to grow over the next few years. 

The implication of these numbers is clear: the finance world needs to refocus its attention on the development and continuous improvement of core skills. 

Finance team upskilling priorities

Across sectors, 84% of employers plan to support their team’s upskilling goals. 

While your technical skills within the finance world are key, it’s time to look at other ways to upgrade your offering. 

The following abilities and soft skills are becoming increasingly crucial for a long and successful career in finance. 

Critical thinking 

The ability to actively engage in problem-solving within your company is no longer a bonus. With disruption across the financial world on the rise, businesses need team members who can take on a challenge and find creative solutions. 

Agility 

As technology enables new competitors to enter fields like insurance and bookkeeping, companies need to be quick to adopt new ways of working. That extends to software, processes, management styles, and communication. 

Collaboration 

Finance teams cannot afford to work in isolation. Integrating the work that’s being done in finance with the systems across the business is a great way to expand your thinking and come up with fresh ways of solving problems. 

Technology

Only 44% of finance leaders are fully confident that their team has the right technical skills and talent to ensure technology is driving better business decisions. A finance team’s ability to embrace tools like automation and machine learning is becoming a non-negotiable requirement, along with an understanding of the importance of data-driven decisions. Not only will this reduce workloads and increase productivity, it will also enable a company to innovate and outperform the competition. 

As new competitors constantly enter the market and consumer behaviour continues to drive new ways of doing business, the finance world is faced with a skills challenge. This is your chance to make a lasting impression, not only in your company but within finance as a whole. Make use of this opportunity to upskill yourself in fields that may not always seem related to your role, connect and work with professionals in other departments, and prioritise your personal and career development. 

We’re here to help you reach your full potential and create a long-lasting career path. Get in touch with us today to find out how we can help.

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