Leadership is keytosuccess
Dec 4 2007 by Karen McLauchlan, Evening Gazette
LEADERSHIP and commercial skills are the main requirements for business success, according to new research.
The findings of the Career Benchmarking Survey by the Institute of Chartered Accountants in England and Wales (ICAEW) and recruitment consultancy Robert Half Finance and Accounting, highlight the range of skills of ICAEW business members.
Those holding the ACA (Associate Chartered Accountant) qualification were asked to rank the skills and competencies they believe are most important for their role.
Almost eight in ten chief executives and managing directors gave top priority to leadership skills, followed by strategic vision, commercial skills and communication skills. By contrast, more than seven in 10 finance directors and chief finance officers thought commercial skills were crucial, with leadership skills the next most important.
For those working their way up the career ladder as finance managers, technical ability, communication and commercial skills were all important, while tax specialists overwhelmingly thought technical expertise was the main requirement.
Overall, respondents rated commercial competence (23%) narrowly above communication skills (22%) and technical ability (20%), while newly-qualified chartered accountants (those with less than five years experience) put communications skills (37%) ahead of technical ability (30%).
Pam Clarke, president of the Northern Society of Chartered Accountants, said: “The survey highlights how broad-based the ACA is as a business and finance qualification, which provides our members with the wide range of skills they require throughout their career.”
Phil Sheridan, UK managing director of Robert Half Finance and Accounting, added: “Whilst industry knowledge, experience and expertise is important, employers today want to find the right mix of technical know-how and the ‘softer’ skills such as communication and leadership ability.
“It is clear from our survey that ACA finance professionals are well placed to play a significant role in influencing business decisions and guiding an organisation.”
The Career Benchmarking Survey interviewed more than 3,000 members of the ICAEW working in business.
