AI and automation are having a massive impact on the accounting job market. Now that organisations have intelligent tools capable of streamlining countless technical tasks, it’s not just your traditional qualifications or hard skills that matter to modern employers. Soft skills are taking over.
According to Deloitte, 92% of organisations now prioritise soft skills over technical expertise. After all, individuals can be trained to develop new hard skills, but cultivating traits like excellent communication skills, adaptability, and emotional intelligence is much more challenging.
Plus, companies no longer need simple "task-doers" to fill gaps in their teams. They're looking for professionals who bring human elements to their work that AI can't replicate. Whether you're entering the accounting job market for the first time or just trying to stay resilient in your career, here's your guide to the "durable" skills that will help you thrive in the future of work.
Understanding The Soft Skills Premium
The rise of artificial intelligence and automation has transformed the priorities of accounting business leaders in search of new talent. While some traditional hard skills are still crucial, employers are searching for professionals with new technical skills. They want team members who can take advantage of the latest technology and work seamlessly alongside AI.
As more tasks and activities are automated by AI in the accounting space, it's not just technical skills like digital literacy that matter to employers. Many companies seek staff members with soft skills and human traits that machines can't replicate.
Business leaders want to recruit professionals who can "outshine" AI with creativity, empathy, agility, and flexibility. Cultivating the right soft skills can help accounting candidates not only access more opportunities for new jobs and promotions but also command higher salaries.
In the current world, the valuable soft skills you bring to a team could give you more power to negotiate on salary and benefits than virtually any technical qualification.
The Essential Soft Skills to Prioritise Today
One of the great things about developing soft skills is that they bring value to any position or role. Some of the most critical soft skills for accounting candidates to focus on today have been essential for decades, while some are growing in importance.
To differentiate yourself from the bots and hone your human edge, here are the soft skills you should be prioritising this year:
Emotional Intelligence
According to NIST, 90% of the success of outstanding leaders is attributed to their emotional intelligence – not their IQ. Developing emotional intelligence gives you the ability to build stronger relationships with colleagues, understand customers, and manage periods of stress.
For most, emotional intelligence starts with self-awareness - the ability to recognise your emotions and impact others. The more aware you are of your emotions, the more effectively you can handle periods of stress and take steps to reduce conflict.
It also includes "empathy" - the ability to understand and share the feelings of others. Focusing on taking a mindful approach to understanding your own feelings and connecting with others will help you thrive in any accounting role.
Adaptability And Resilience
Adaptability and resilience are two connected soft skills that have become increasingly important in recent years. The accounting workplace is evolving quickly, and team members need to embrace change, take on diverse roles, experiment, and stay open-minded.
Building adaptability and resilience relies heavily on strong emotional intelligence and the ability to deal well with stress. However, it also means proactively problem-solving, exploring new opportunities, and maintaining a positive outlook.
You'll need to challenge yourself to explore unfamiliar experiences and environments, look at change from different perspectives, and open yourself up to new ideas as they emerge.
Communication Excellence
Effective communication has always been vital for any accounting employee. The ability to present information clearly and actively listen to others can help you build positive relationships with colleagues and customers and complete tasks more effectively.
However, as the way we communicate continues to evolve, various new elements of effective communication may need to be considered. Virtual presentation skills are becoming more critical in the world of hybrid and remote work. Written communication skills are equally important, particularly when using messaging apps and email.
Plus, adapting one's communication style to suit the needs of people from different cultures, backgrounds, and generational cohorts is becoming more vital.
Collaborative Intelligence
No matter what kind of accounting role you're filling, there's a good chance you'll need to collaborate effectively with other professionals. Taking a proactive approach to understanding the team dynamics in your organisation and the working styles of different employees can help improve cohesion and boost your productivity.
It's also increasingly important to be comfortable with remote collaboration strategies. Practice using online video conferencing, file-sharing tools, and project management apps. Additionally, be prepared to handle conflict professionally.
Draw on your emotional intelligence skills to approach disagreements with empathy and collaborate on successful outcomes for everyone involved.
Leadership and Influence
Leadership isn't confined to management roles - it's about guiding and inspiring others to achieve shared goals. Effective leaders exhibit strong listening skills and empower colleagues by understanding their needs. Emotional Intelligence comes in here.
Maintaining a positive mindset and understanding the needs and expectations of your colleagues can also help you motivate them and keep yourself motivated. Developing your ability to effectively "influence" others is valuable, too.
If you can present facts and figures in arguments, consider the opinions of accounting colleagues, and the goals of your stakeholders, you'll be more likely to guide the people around you.
Building Your Soft Skill Development Strategy
The first step is to identify the soft skills you'll need for a "human edge" in the modern workplace. Once you know what competencies you need to work on, you need a plan for actively developing those skills over time. Here's how you can dive in:
Step 1: The Assessment Phase
The first step in developing soft skills is understanding where you stand. Conduct a self-assessment. Examine your soft skills using personality assessments or skill inventories. Resources like the VIA Character Strengths Survey or the Myers-Briggs Type Indicator can offer valuable insights.
Gather feedback from managers, colleagues, or even accounting mentors for insights into areas where you can potentially improve. Based on your analysis, identify the areas you need to focus on to drive the most substantial growth. For instance, if you want to lead a team effectively, you might focus on emotional intelligence and communication skills.
Step 2: Devising Your Learning Approach
Next, consider how you'll develop the skills you need. There are numerous options to explore, such as practicing one-on-one interactions with different team members to boost emotional intelligence and communication skills.
Consider seeking out a mentor to help with specific leadership or cross-functional collaboration skills. You can also look into unique peer learning opportunities, like joining professional groups relevant to the accounting industry.
Step 3: Monitoring Progress
Tracking your progress ensures you're constantly moving in the right direction. Based on your self-assessment, start by establishing a baseline for each skill you want to improve. Then, take a systematic approach to logging improvements. You could even use personal journals to identify areas where you think you're making the best steps forward.
Feedback loops are great for tracking progress, too. To refine your approach, regularly seek feedback from peers, mentors, and managers. This continuous feedback cycle ensures alignment with your goals and fosters ongoing improvement.
Maintaining Your Human Edge
In an accounting workplace increasingly shaped by AI and automation, soft skills are more crucial than ever. Taking a proactive approach to developing your human-first skills will ensure you can continue to thrive in any role and capture the attention of employers with changing priorities.
Remember, AI may handle routine tasks with precision, but the human touch - your empathy, creativity, and adaptability - creates lasting value. Don't underestimate the appeal of your soft skills. Invest in them, and you'll invest in your future career.
Hedley Scott Recruitment offer complimentary and confidential career conversations. Contact one of our team here.