Growth and professional development are the top attracting factors to the profession but it is seen as limited for young professionals working in SMPs, according to a global survey from the ACCA.
The survey, Generation Next – Managing Talent in Small and Medium Practices, found that 88% of the 1,300 young professionals surveyed are focused on achieving a more senior position even though 48% are satisfied with their current role. However, 63% expect they will have to leave their current organisation to obtain a senior role, as 47% see a lack of available roles as the largest barrier to career progression.
ACCA head of SME policy Ben Baruch said: “These trends clearly have implications and put pressures on SMPs to rethink how young talent is attracted, developed and retained.”
Additionally, 93% of respondents agreed that the availability of opportunities to learn and develop skills is key to remaining with an employer. However, 41% said that their employer doesn’t have enough roles available for career progression and 34% said that their employers offer insufficient opportunities to achieve career goals.
Yet the report found that the desire is there, as 83% believe that a finance career background will be valuable for business leaders in future and 78% see a long term future for themselves in the accounting and finance profession.