At a glance
- Mid-career accountants must adapt to AI, automation and data-driven roles.
- Time, cost and mindset are barriers, but flexible options exist.
- Upskilling in leadership and strategic skills can ensure they remain relevant.
Despite major changes across the labour market, many professionals lack the skills they need for the future. Recent research shows 41 per cent of UK employees believe future roles will demand technological skills that aren’t currently essential. The knowledge gap is growing and there is a pressing need for workers and employers to invest in developing their skills to stay competitive.
Upskilling isn’t just about staying competitive within your current role; it’s also about future proofing yourself in a profession increasingly defined by strategy, technology and leadership. AI is increasingly used by firms to create content, research and analyse data, while clients expect value-add services like ESG compliance advice.
If you’ve been in the industry for seven to 10 years, you’re in a unique position. You’ve spent time building up deep expertise, practical experience and your reputation – all of which you can build on. Plus, you still have enough time left in your career to benefit from investing in new skills: a major advantage if you’re ready to adapt.
Yet, mid-career professionals are among the least likely to pursue training and upskilling, often held back by time pressures or complacency.
The three skills you need to stay ahead
With younger professionals often equipped with data visualisation and advanced analytics skills and AI and automation managing routine tasks, Liz Sebag-Montefiore, career coach and director at 10Eighty, says upskilling presents an opportunity for mid-career finance professionals.
“Accountants will increasingly be called upon to interpret financial data and provide strategic advice,” she says.
“Developing expertise in tools like Power BI can help accountants visualise insights and communicate them effectively. Similarly…familiarity with AI-powered platforms, robotic process automation (RPA) and advanced accounting software are becoming industry standard.”
She advises accountants to consider three things before upskilling:
- First, market trends, emerging technology and long-term value when assessing viable upskilling opportunities and to develop skills that complement automation rather than compete with it.
- Second, don’t forget about soft skills – as technical tasks become automated, strong communication, leadership and problem solving skills will be even more essential for influencing stakeholders and presenting complex information to clients.
- Third, sharpen your advisory skills beyond balance sheet reporting. Developing your ability to interpret data, forecast trends and guide decision making in areas like carbon accounting and fraud detection could position you as a trusted adviser.
What’s stopping mid-career accountants?
Time is the most obvious challenge. Between managing work responsibilities, leading teams and balancing family life, professional development can quickly slide down the priority list. The idea of adding training to an already busy diary might feel overwhelming, especially when you don’t know what kind of upskilling will offer the best return.
Cost is another concern. Certifications and training programmes often come with hefty price tags. If your employer isn’t actively supporting your development, the personal financial outlay can feel like too much of a stretch when you don’t have a guaranteed return on investment.
Finally, there’s the psychological challenge. Mid-career can bring a sense of professional inertia – the belief that you know enough to see you through the next decade. But research suggests otherwise: technology can be used to fully automate 42 per cent of finance activities, and between 2012 and 2023, posts for jobs which require AI skills in the UK grew 3.6 times faster than other roles.
How to start upskilling
Even when the need for upskilling is clear, actually making it happen can feel daunting. Sebag-Montefiore advocates a considered approach before enrolling in a lengthy programme, recommending the following tactics.
- Prioritise microlearning: look for short courses or modular learning options, such as LinkedIn Learning or certifications that offer options tailored to meet the demands of digital finance and ethical AI use. These allow you to gain skills in small, manageable steps without a significant time commitment.
- Leverage employer support: many firms recognise the value of upskilled employees and may be willing to support your development through funding, mentoring or internal training programmes. Ask your employer about professional development opportunities – they’re often more available than you think.
- Network with purpose: engaging with peers in industry forums or professional organisations can provide valuable insights into what tools and training programmes are working for others.
- Apply as you learn: upskilling is most effective when it’s directly relevant to your current or future role. Volunteer for projects or tasks that allow you to test new skills, whether it’s implementing AI tools, analysing ESG data or streamlining processes with RPA.
Most experts agree AI won’t wholly replace accountants, but it is redefining the role. Mid-career professionals can combine technological proficiency with human expertise as part of a strategic upskilling plan.
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