Preparing for this flexible career structure is at the core of suggested actions made in ACCA’s major new report, Career paths reimagined. Over 450 African ACCA members, future members and employers took part in the global research which identified the relevant skills sets that finance professionals should nurture for future career success. Focusing on inter-personal, technology and technical skills and developing specialisms feature strongly, as well as having a curious and flexible mindset. Career breaks and ‘micro-retirements’ are likely to increase as professionals work longer.

Explore the global survey findings here, including regional findings for Africa here.

Jamil Ampomah, director – Africa at ACCA said, ’This report paints a positive picture of a dynamic adaptive and opportunity-rich environment for career development in Africa – shaped by demographic trends, economic realities, and the rapid evolution of technology and professional expectations.’

ACCA chief executive Helen Brand said: ‘Accountancy is being redefined in ways that are reshaping and expanding the role of the profession. While traditional career paths are giving way to more flexible, individualised routes that are shaped by skills rather than titles, opportunities to grow and thrive have never been greater for those prepared to embrace change.’

‘To be successful, finance professionals must be willing to let go of outdated expectations and embrace a future which will see the rise of hyper-personalised careers featuring more flexibility but less predictability.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.’

Survey respondents in Africa ranked technology as the most significant of eight drivers of change reshaping future career paths and workplaces, with uncertainties of geopolitics and economics coming in second place, and other drivers shown in the order below:

1. Technology: Emerging technologies, automation, and data analytics dominate future work and how the human augments the machine, including artificial intelligence (AI).

2. Geopolitics and economics: Slower growth and global fragmentation challenging personal prosperity.

3. Sustainable world: Climate change and other sustainability factors impacting where, when and how we might work, as well as imperatives creating new roles and responsibilities.

4. Enforced changes: Reaction to external changes of increasing compliance and the need for greater ethical oversight.

5. Role of professions: Changing from guardians of knowledge to interpreters and trusted advisors.

6. Societal expectations: Evolving views on the role and value of work.

7. Personal expectations: Increased emphasis on the motivators for work – such as work-life balance, purpose and flexibility.

8. Demographics: Longer working lives and multi-generational workplaces.

Other factors explaining why flexible career trajectories are likely to dominate include:

• An evolution of organisational structures – removing traditional middle-level roles and replacing them with more specialist roles. Entry points are evolving and are being redefined by new ways of working and a demand for specific skills and experience.  Employers should seek to review their traditional career models.
• Advances in technology - reducing or transforming entry-level roles and changing the nature of the roles themselves.
• Demographic changes – lengthening the working life.
• Flattening economic performance – making sideways moves more important for career and financial progression.
• Disenchantment with the impact of more senior or executive roles on work-life balance and the immediate financial and lifestyle needs driving chosen career paths – particularly during economic and geopolitical uncertainty

Report author Clive Webb, head of business management at ACCA, said: ‘The report shows that those who appreciate and adapt to the changes will benefit from stimulating and rewarding careers in finance and accountancy. Curiosity and agility will be key features of a successful career as careers will be flexible and dynamic. The career paths of the future hold significant promise for those ready to seize the opportunity. Employers need to adapt to and anticipate changes now to maximise talent, match skills demand and provide a sustainable pipeline of talent for a redefined profession.’

Discover more about the findings here.