Accounting needs to rethink how it identifies talent

The accounting profession is overlooking talent because it is still looking in the same places. Academic credentials and previous experience remain common shorthand for potential, yet neither alone reliably shows what someone could contribute or become, writes Claire Bennison, executive director of customer, partnerships and innovation at AAT

The accounting profession has both a talent shortage and a talent-recognition problem.

Academic achievement remains a common proxy for potential, but it can exclude people with the aptitude to succeed while narrowing the talent pool employers need. At a time of skills shortages and youth unemployment, that is a risk neither businesses nor young people can afford.

Opening the profession to more talent

Research commissioned by AAT for our More than numbers campaign exposes the disconnect.

More than two in five people (41%) have no idea that you can become an accountant without a university degree. Yet practical skills (35%) and work experience (32%) were viewed as far more important drivers of career success than a university degree (10%), with respondents around three times more likely to value hands-on experience and skills development.

People recognise what drives success, but many still do not know how to access it.

Twenty-three-year-old Javin Ramkissoon’s story demonstrates how practical skills developed through an apprenticeship can open doors just as effectively as academic options – if not more so.

Ramkissoon began his accounting career straight from school with no prior experience in the profession. By completing a two-year apprenticeship alongside his AAT Level 4 qualification, he built technical knowledge and applied it in the workplace, turning potential into proven capability. He now works in-house as a senior associate.

The required skills have changed

Widening the talent pool matters more than ever as employers face ongoing skills shortages, whilst the UK is experiencing a worrying number of young people not in education, employment or training (NEET).

We are seeing employers broadening how they assess talent, and many are now recognising that qualities such as communication can be as important as academic achievement.

Yet this highlights a challenge for young people entering the workforce. Many have had far fewer opportunities to gain meaningful work experience than previous years, as the part-time and seasonal roles that once introduced them to the workplace have declined. They are missing out on the chance to develop confidence, and skills employers want and need.

We have a system that tells young people they need experience to secure a role but need a role to gain that experience. It is a challenging cycle.

AAT’s incoming president, Craig Dyer, has broken that cycle from both sides. After changing careers from assistant headteacher to accountant at 37, he studied AAT qualifications and established his own practice and has since employed four apprentices.

This demonstrates how the profession benefits from creating opportunities for those starting out and welcoming talent from different backgrounds and career paths.

Creating opportunity for the future

By launching More than numbers, we are firmly challenging outdated perceptions of accounting careers and demonstrating that professional success is not reserved for those who progress through academic routes.

Our research found that six in 10 people leave school without feeling sufficiently informed about their career options. This raises alarms.

So, through the campaign, we are highlighting accessible career pathways and providing free resources to help young people build skills and understand their options, because no one can pursue opportunities they do not know exist.

But change requires more collective action. Young people need to know what pathways are available to them as they make choices about their future, so it is essential that government follows through on ensuring all pathways are highlighted in careers guidance. Government also needs to make meaningful and inclusive work experience across sectors a national priority to equip all young people with the chance to upskill and get exposure to what opportunities are out there.

The accounting profession has an opportunity to lead by example. Ours is a profession built on recognising value, assessing risks and making informed decisions.

The question is no longer where someone studied or how quickly they progressed. It is what they could become if we gave them the chance. Practical technical education gives potential a foundation; employers must now recognise it, invest in it and open the door.