‘Flexible career paths the future’

A majority of Caribbean finance professionals surveyed believe flexible career paths will replace traditional roles by 2035.

In a new survey by ACCA (the Association of Chartered Certified Accountants) 53 per cent of respondents in the Caribbean believed that flexible career paths will replace linear paths within the next decade.

A further three in ten (29 per cent) in the Caribbean expected the two approaches to coexist equally.

While, as elsewhere, technology represented the most significant driver of change within the region, more localised factors were also important in framing career paths in the next decade.

The study Career Paths Reimagined highlighted local concerns over regional mobility and the impact of the CARICOM initiatives.

Paula Marcelle-Irish, head of Caribbean, ACCA said: “Mobility within the Caribbean is a significant topic, particularly considering CARICOM’s intention to enable the free movement of professionals. However, as of now, the accounting profession has not yet been included in the first phase of this.

“The expectation of those professionals we talked to in this research was that accountants will be included in the next phase, which could lead to increased movement of talent, cultural exchange, and resource shifts across the region.

“This anticipated mobility was seen as a major upcoming development for the profession in the regional discussions,” she added.

Talent shortage and outward migration are already persistent challenges for the region.  

Globally, preparing for a flexible career structure is at the core of suggested actions made in the report.

About 2 600 ACCA members and future members – including 86 from the Caribbean – together with 145 employers across the globe took part in the global research which identified the relevant skills sets that finance professionals should nurture for future career success.

Focusing on inter-personal, technology and technical skills and developing specialisms feature strongly, as well as having a curious and flexible mindset. Career breaks and “micro-retirements” are likely to increase as professionals work longer.

ACCA chief executive Helen Brand said: “Accountancy is being redefined in ways that are reshaping and expanding the role of the profession. While traditional career paths are giving way to more flexible, individualised routes that are shaped by skills rather than titles, opportunities to grow and thrive have never been greater for those prepared to embrace change.

“To be successful, finance professionals must be willing to let go of outdated expectations
and embrace a future which will see the rise of hyper-personalised careers featuring more flexibility but less predictability.

“Taking greater ownership of your career and learning is key – continually developing the right skills is essential to navigating a flexible workplace.” 

Survey respondents ranked technology as the most significant of eight drivers of change reshaping future career paths and workplaces, with changes in personal expectations of work coming in second place. (PR/SC)

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