Poor image, talent mismanagement stunt profession

Sep 02, 2023

I want to share with you some insights, inspired by Xero Australia manager Will Buckley, who recently spoke at Xerocon.

The crux?

Accountancy has been doing itself a disservice, boxed in by outdated perceptions and untapped potentials. But there’s a bright road ahead, and it’s one we can walk together!

Let's set the stage: Accounting has been traditionally viewed as a 'numbers game.' This perception not only makes it challenging to attract fresh talent, but also restricts our collective growth. The reality? Accountants are more than just bean counters; we are financial storytellers and relationship builders.
The narrative is changing, and the room for improvement is expansive. There has been a in accounting graduates over the past decade, while banking and finance roles have seen a 23% rise. Clearly, the younger generation is missing out on the transformative experience accounting can offer!


Purposeful Living and Continuous Learning

According to Buckley, redefining our profession starts with "finding a meaningful purpose." It’s about transcending the spreadsheets and designing fulfilling experiences for both employees and clients. The time for continuous learning and professional development has never been so opportune. If you're still tussling with outdated software while the world embraces AI, take note: businesses that adopt new technology generate over twice the revenue. Continuous learning is not a luxury; it’s a necessity.


The Power of Community Support

In Buckley's words, whether you're a sole practitioner or a firm owner, “you should be offering and receiving support because learning from your peers and swapping knowledge is vital so the entire profession can lift each other up.” It’s time to form alliances and embrace the mindset of Community over Competition! Engaging in communities that share knowledge, like our very own The Balanced Firm, can significantly amplify your growth trajectory.


The Balanced Firm: A Partner in Your Growth

When it comes to propelling your accounting practice and having a better practice and a better life, The Balanced Firm offers a platform for just that: balanced, informed, and meaningful and sustainable growth is our overarching ethos and goal. By joining us, you open up a plethora of opportunities, from mentorship, friendship with likeminded practice owners sharing similar values and vision to cutting-edge industry knowledge, tips and strategies. And if you're seeking customised solutions and support to help you break free from operational drudgery and focus more on 'meaningful experiences,' my door is always open to have a chat about my 1:1 or group offerings and of course there's my practical resources and courses.


The Future Is Bright, and It’s Collaborative

As we venture further into this exciting future, let's ditch the 'leaky bucket' model of talent management that’s been draining our industry. Flat organisational structures, increased peer support, improved practice culture and delivering on new ways of working and work patterns (the four or four and a half day work week and the hybrid working model) and a strong emphasis on purposeful work and continuous learning are the way forward.

So, what's stopping you? It’s time to rewrite your accounting story, filled with chapters of innovation, growth, and unwavering support that is there to help.

You can read the full article here.