TOA Global Logo

Why It’s Important for Accountants to Upskill

he importance of upskilling for accountants blog 1024x684

In today’s job market, mastering a single skill set is no longer enough to land the job you want or grow within an organization . Factors such as industry advancements, changes in business operations and technological innovations have made it a necessity for employees to upskill quickly and remain relevant and competitive in their line of work.   

The World Economic Forum’s 2020 The Future of Jobs report cited that 50% of all employees will need to upskill or reskill by 2025 to embrace new opportunities driven by automation and new technologies. Their findings also suggest that lifelong learning should be part of an organization’s strategic goals to ensure employees are ready for the future of work.  

For accountants, upskilling creates opportunities for potential growth. When done effectively, it can even result in a successful international accounting career. Upskilling has an immediate impact, helping accountants contribute beyond their job descriptions to add more value to their organization. 

If you want to put yourself in an enviable position, let’s look into how upskilling can benefit you and why the time to upskill is now.  

Higher confidence levels

The accounting industry is always changing due to the introduction of new laws, regulations and technologies. To capture the opportunities created by these changes, you need to improve your skills and knowledge so you can offer more to the organization. Broader accounting knowledge will give you confidence to proactively take on greater responsibilities and even perform complicated tasks that go beyond your job description.   

When you put in the work to acquire a diverse range of skills, you can also confidently take control of your career path. For instance, if you gained expertise in a certain field, like tax planning or financial analysis, you’re likely to rise into a more senior position within the organization. Imagine how much further you could get ahead when you strengthen the different skills set needed to thrive in an ever-changing accounting landscape.  

Versatility and growth

Accountants deal with a variety of exciting challenges in the course of their work. A diversified set of skills will always give you an invaluable edge when facing these challenges head-on. 

Combining new technology skills with soft skills, for example, will shape you into a well-rounded employee who can easily adapt and keep up with the changes at work. Or having a comprehensive portfolio of training and certifications proves you have what it takes to get the job done – in the most effective way possible.  

“Getting ahead requires continuous learning to help you stand our from your peers,” says Nick Sinclair, founder of TOA Global and Ab² Institute of Accounting.

International career path

The accounting industry has been experiencing a skills shortage on a global scale . According to the U.S. Bureau of Labor Statistics, job openings for accountants and auditors are projected to reach 136,400 each year, between 2021 and 2031. The growing international skills shortage means firms are willing to pay more for candidates with the right experience and qualifications. If you want to take advantage of this opportunity, accounting certifications will be incredibly useful when landing an international accounting role.  

Working globally gives you: 

  • Travel opportunities and even the option to immigrate. 
  • Valuable experience in the global marketplace. 
  • A higher-paying salary and better benefits. 
  • Specialized training. 
  • New and invaluable connections. 

So, where and how do you start upskilling? 

Take the next step with a Professional Development Plan

At TOA Global, learning and development have always been integral to our culture. We actively support team members who want to invest in themselves so they can get ahead of the curve.  

Through a Professional Development Plan (PDP), you will receive customized training to unlock the very best of your abilities. But there’s much more: The PDP courses are developed by real industry professionals who understand what you need to take your career growth to the next level. This means, you’ll have access to:  

  • Leadership training 
  • Technical qualifications 
  • Success skills 
  • Compliance courses 
  • CPD offering 

Our goal is to fit continuous learning to your upskilling needs. Explore in greater detail how a PDP can set you apart from your peers, help you grow within the organization and enhance the skills global employers are looking for in their accountants.