Whilst a financial skillset proves invaluable for the UK’s top CEOs, the importance of accountancy qualifications shines through too, with a quarter of FTSE 100 CEOs being Chartered Accountants.
Let’s explore the skillset you’ll have as an accountant that is sought-after for some of the most senior business roles:
- Commercial understanding: Having a strong understanding of the evolving business landscape is crucial for making informed decisions that support a company’s growth. Understanding concepts such as market trends, industry data, competitive positioning, and risk management will make you stand out from the crowd as an effective business leader.
- Strategic planning: Being able to plan commercial success is a challenging task and requires sound strategic thinking. A skilled strategic planner will have the foresight to recognise trends and challenges, and be able to adapt and seize new opportunities. It’s about being proactive and ahead of the game, rather than reactive and playing catch up.
- Business development: In a competitive business landscape, being able to identify and secure new business is a vital skill for those with their sights set on senior positions. Being able to analyse market trends and understand client needs are key skills when it comes to business development, enabling you to promote existing support and introduce new service lines to attract new business, as well as cross selling services to existing clients.
- Networking: Accountants who can naturally build relationships foster trust with stakeholders that helps to build a solid reputation for the company. This sought-after skill helps leaders to nurture a network of contacts relevant to their area of work, whether its potential clients, future employees, or likeminded professionals with shared experiences and goals.
- Relationship building: Being able to confidently build trusted and long-lasting stakeholder relationships is without doubt one of the most important skills an accountant can hone. From the early stages of a practice career, accountants are encouraged to learn the principles of client relations, and those able to build strong rapport are sure to have progressive careers leading to senior positions.
- Analytical problem solving: An analytical mindset is a sought-after approach for accountants, where attention to detail is critical and complex issues need resolving. This outlook is something that makes the best senior leaders stand out from the rest – it’s about finding the balance between an oversight view and deep diving into the detail.
- People management: Being a good leader is a mixture of not only solid decision making skills and the ability to delegate and oversee, but also an effective approach to managing and inspiring a team. Whilst everyone will have a unique management style, someone with good people management skills will be able to support everyone with the team and adapt to varying needs and circumstances. Being able to motivate others, particularly in a fast paced and demanding industry like public practice, is a highly sought-after skill, so it’s one worth strengthening as you progress through your career.
- Effective negotiation: A career in practice exposes you to the commercial aspects of portfolio management, providing an array of skills that are essential for a successful leader. Part of managing a portfolio includes bidding for new work and quoting fees. The ability to do this, aligned with strategic goals and competitive to the market, is a favourable skill to bring to the table. It’s not always the easiest balance to find, but confidently negotiating fees is what sets good leaders apart from the rest.
The presence of former accountants within the top positions in FTSE 100 companies tells us that the skills accountants develop can take them to greater heights than perhaps thought, and that’s an exciting prospect for driven candidates who are building progressive careers.
Are you empowered to strengthen your skills in your current job? Are you missing out on professional development opportunities? Are you wanting more responsibility but there’s no progression in sight?
Here at Public Practice Recruitment Ltd, we work with talented candidates just like you who want to work with forward-thinking firms that champion continuous learning and encourage accountants to strengthen their skillsets and pursue progression.
Are you a career-driven accountant ready to hone your skillset as part of an ambitious team? If so, we’re here to help. Whether your CV is ready to go or you’d benefit from some expert advice on the next step in your practice career, contact the team today.
