Roughly half (51%) of accountants globally expect flexible career paths to replace linear career paths within the next decade, according to a new survey.
The Association of Chartered Certified Accountants polled 2,600 of its members and future members for its new Career Paths Reimagined report. It found that 35% of global respondents expect both flexible and linear career paths to exist in tandem.
By "flexible," the report means career paths that are more personalized, with a shorter-term focus, and more adaptive to unique circumstances and opportunities.
Regionally, 58% of North American respondents anticipate a move away from the traditional hierarchical corporate ladder structure. In a regional roundtable, one participant explained how many interns and early-career professionals are focusing on building a broad skill set and becoming a "Jack of all trades," with the intention of eventually specializing at a higher level. Adaptability and cross-functional knowledge are thus perceived as more relevant and valuable in the current work environment.
The report also noted that tenure in a given role, organization and even industry is becoming shorter. Long-term loyalty to a single employer for many years is becoming less common, implying that career steps are becoming "shorter and more transient."
"While traditional career paths are giving way to more flexible, individualized routes that are shaped by skills rather than titles, opportunities to grow and thrive have never been greater for those prepared to embrace change," ACCA CEO Helen Brand said in a statement. "To be successful, finance professionals must be willing to let go of outdated expectations and embrace a future which will see the rise of hyper-personalized careers featuring more flexibility but less predictability.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."
Fifty percent of North American accountants further identified that technology — particularly artificial intelligence and data analytics — as the most significant driver of change for career progression over the next five to 10 years. In turn, 74% of respondents said technology and AI were the most important skills to grow, followed by 45% who identified leadership and critical thinking skills.
"This era of change presents challenges but also many opportunities, and professionals in the North American region indicated they are ready to take advantage of those, with a large majority feeling optimistic about their future careers," Jillian Couse, head of ACCA North America, said in a statement. "By engaging with the drivers of change head on, employers and employees alike can strengthen the future of our profession."
