The next generation of finance professionals

During interviews and roundtables, research participants shared their experiences with digitalisation, sustainable development, engagement with new workplace practices, and the skills and competencies they require. Those stories were echoed by both early and mid-career finance professionals, albeit from different perspectives.

The new generation of accountants, who are digital natives and see themselves as tech savvy, also take keen interest in DEI and share a passion for sustainability. They strive for simplicity and speed and see tasks through the lenses of automation and gamification. Having joined the workforce during the COVID-19 pandemic, they expect flexibility, seek work-life balance, and rely on organisational sensitivity and tolerance towards individual needs, mental health, and neurodiversity.

More experienced professionals raised concerns about the new generation’s engagement, socialisation, sense of belonging, and acculturation. They empathised with the challenges faced by new joiners, who needed to learn and adapt in isolation from their teammates and work environments. Thus, the assumption of mid- and later career professionals is that physical presence is critical for collaboration and learning. However, this view may not be fully embraced by the next generation of finance professionals, who value the opportunity to mix their online and physical presence at work as they choose.

Mid-career accountants pointed to the need to understand transaction routes and process steps, even when machines record and assemble data. This allows for verification and a questioning mind, both of which are critical. Other competencies that need to be cultivated include communication, storytelling, and self-efficacy. At the same time, traditional ways of working in finance have been associated with fragmentation and the inability to see the big picture. The approach of ‘box ticking’ and ‘getting it done’ is not compatible with the ongoing fluidity of our working lives, which are more about iteration and continuous improvement. Along with agility, proactiveness and creativity have become critical ingredients in the future of work.

This means that right now the finance community needs to benefit from its intergenerational diversity. This, however, requires synergy and openness. Finance professionals will continue leading the way to improved organisations and societies as they work to constructively resolve the challenges highlighted here.