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How to ensure your Accountancy team is Upskilling!

How to ensure your Accountancy team is Upskilling!

Accounting

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5

min read

The world is changing rapidly – as you may have noticed! Jobs are changing and adapting, and that means workers need to update their skills on a regular basis in order to bring value to the firms they work for and their clients. 

Lower-level jobs are disappearing as a result of technological changes. On the other hand, certain positions are becoming more in demand.  

For employers, the need to have their workers add to their skillsets to ensure the ongoing growth of their firms seems evident, with a focus on process improvement, cost control, and capital optimization, says one UK industry figure. And, accountants, rather than viewing changes created by technology as a threat to their jobs should rather approach them as the perfect opportunity to add to their skills. 

 

What is Upskilling and why is it crucial to upskilling employees

Upskilling is the process of providing employees with the new skills that will aid them in their work and in dealings with your all-important customers. Technological advances have accelerated the need for employees to upskill, and since they are constantly developing so the need to update skills does likewise.  

Filling in gaps in employee knowledge via continuous training ensures accountants remain ahead of the curve regarding best business practices and – ultimately – that your firm can compete effectively. 

Where some companies once used to regard providing training for their accounting staff as both an expense and as time lost when they could be dealing with clients, that view has largely disappeared. Indeed, it now seen as a priority.  

This is even more the case due to the challenges in recruiting strong candidates as a result of high demand for accountants across the country.  

  

Here are some other advantages provided by upskilling: 

  • It enables companies to retain staff by showing them they are appreciated and you will invest in them and their skills  
  • Talented staff expect to be presented with growth opportunities 
  • Raises workers’ morale and motivation which leads to better performance 
  • Prevents employee turnover which is expensive and time-consuming 
  • Your company’s competitiveness increases and skills gap decreases 
  • The return on investment is positive 

  

How to develop digital skills and teach your employees new skills in your office

  • Identify the knowledge gaps among your staff – what are their strengths and weaknesses 
  •  Each employee will need a different training programme based on their role 
  • Identify employees who will search for the chance to advance internally based on what they learn 
  • Look for skills training for the long term as well as the short – software skills come and go, but other skills can have long-term value 
  • Look at your company overall and identify what you see as the right balance  
  • Create a training programme that is appropriate for your firm – there is no right or wrong way so think of the kind of training and development that makes sense 
  • Discuss the upskilling policy with managers and have regular meetings both with them and with employees 
  • Some staff members will not automatically want to be involved, so think of financial incentives to encourage them to learn new skills – remember it is in your company’s interest as well 
  • You can offer your accounting staff financial support to study with an external education provider. Although this is usually less expensive and time consuming than putting together an in-house development programme, it should nonetheless be part of an overall upskilling strategy.  


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