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How is the Current Climate Affecting Finance and Accounting Professionals?

Now more than ever, career development should be at the forefront of mind for any finance professional if they want to succeed. Whether you are part, newly or many years qualified it is vital that your  training continues so you can carry on developing during the recession, whatever stage of qualification you may be.It seems Part Qualified professionals have seen very little effect, funding has stayed the same and candidates continue to receive the original benefits and training packages offered. However, there has been increased importance placed on maintaining study and the individuals benefiting from the training are having higher expectations put on them to achieve a standard that sets them apart from their peers.

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The last recession saw a significant shortage of newly qualified accountants entering the market between 2004-2008 this was partly due to lack of investment in training and in order to prevent this from happening again employers are continuing to invest in training despite the current economic climate.It’s been noted that Institute led training has advanced over the last few years with attendees at industry led events steadily increasing. There has been an accelerated growth of ‘professional networking’ and sharing thoughts/ideas with peers as most conferences now count towards validated CPD (Continued Professional Development) hours.At a Senior level, Financial Controllers and Finance Directors have continued to invest in their own training and see the importance this has on steering their companies effectively through the recession.Increasingly those finance professionals who have found themselves redundant have increased their networking profile and broadened their skill sets within other related business sectors moving away from pure finance. 

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Whatever stage of qualification, continual training and development in these tough times will enhance your skills and set you apart from your peers, ultimately providing more career development and job opportunities. To ensure you can capitalize on any opportunity that presents itself, it is crucial that you keep an ongoing documentation of your studies, maintain an up to date CV and keep a constant eye on the industry trends and changes taking place.