A fundamental understanding of management accounting principles paired with your work history may not be enough to have you stand out to a future employer given today’s competitive job market.
As the role of the management accountant has shifted to one as the trusted business advisor, employers are looking for candidates who are comfortable with various skills including digital literacy, sustainability, leadership, and more.
You can increase your desirability and actively fill those skills gaps to become the sought-after candidate.
Here are five ways to enhance your employability — and ultimately land a job that’s fulfilling and aligned with your passions.
Cast a wider professional network.
You likely already have a strong professional network but expanding it has many potential benefits as you pursue a career change.
Make the most of social media platforms such as LinkedIn. Turning on your updated profile for recruiters increases your visibility, allowing recruiters to find your profile and see if you’re a right match for any open positions. A robust network also enables you more chances to swap professional knowledge and experience.
Many professional bodies, including The Chartered Institute of Management Accountants® (CIMA®), offer support to professionals at every step in their career through various webinars, conferences, toolkits, guides, continuing professional development, and more. And you’ll gain access to a global network of 689,000 people through AICPA® & CIMA®.
Networking is a great chance to open doors, engage in meaningful chats, explore new opportunities and further engagement within your profession.
Foster your soft skills.
Attuned technical and financial skills are indeed important, but deepened interpersonal and leadership skills are sought after, too. Employers want empathetic, agile, and resilient individuals who prioritise clear and effective communication — skills made even more important in hybrid offices. It can be difficult to connect with teammates simultaneously whilst meeting in-person and online and across time zones. Practised communication skills now can unlock future leadership opportunities.
And clearer, compassionate communication will translate easily into how you work with your clients. Trust and value will deepen when they see how you work with them.
Increase digital literacy.
Management accounting underwent a massive digital makeover in the last five years — driven mostly by the power of data — and more transformation is likely on the horizon. Emerging technologies are creating new opportunities for management accountants to leverage financial and non-financial data that exists across their organisations.
Applications for machine learning and artificial intelligence (AI) are continually improving and evolving. Beyond AI and automation, trends in cryptocurrency, cybersecurity risks, and data analytics have also shaped the day-to-day nature of the profession.
It’s important to stay updated and nimble with how these technologies can improve your workload, and how emerging trends are collectively changing the trajectory of accounting and finance.
Become fluent in ESG and sustainability.
Environmental, social, and governance (ESG) and sustainability initiatives are must-haves at an organisation and management accountants can easily apply their financial skills to this global focus. Advanced knowledge of sustainability reporting is a competitive edge.
ESG data tells a more complete story of an organisation, and you can gather the right information to get that story to shine. Your ESG and sustainability data could situate future initiatives. And because you know how the money flows in and out of the company, you can identify long-term changes to advise leadership on sustainable value creation.
Invest in your professional development.
As leadership and communication skills, digital literacy, and familiarity with sustainability matters are at the top of employers’ list of desired competencies, earning the Chartered Global Management Accountant® (CGMA®) designation from CIMA tailors your existing skill sets into what employers seek.
CGMA candidates will explore the current cybersecurity landscape, develop strategic management skills, delve into specifics of financial reporting, understand digital costing techniques, understand the nuances of financial and non-financial data, and other pertinent skill sets that management accountants need for an engaging and successful career.
In-demand skill sets for rewarding careers
Finance teams are increasing their involvement with day-to-day operations, business strategy, and value creation. They are becoming invaluable and influential advisors. As a result, management accounting is so much more than budgeting and cost analysis — and learning in-demand skill sets is a signal you’re committed to your profession.
Reinvigorate your career and see how the CGMA designation opens new doors and opportunities.
