The contradiction: Economic crisis, unemployment and a war for talent?

By Ana Barco

Yes, all we hear and read about seems to indicate continuing global economic uncertainty, deep crisis in Europe and relentless pressures on workforce and unemployment. Yet, in my work on human capital within the finance organisation I am also often reminded of talent shortages and the war for talent. Now there is an oxymoron if I ever heard one, or is there more to it?

Our new report, The Fast-track to Leadership, provides some clarity around this contradiction and highlights that for the Global Chartered Management Accountants there can in fact be far more opportunities than challenges to progress their careers – even in this economic climate.

Organisations are operating in increasingly complex, competitive and fast-changing environments, so having the right information and insight to drive nimble and effective decisions is ever more critical.  

They need the right information in an accurate, timely and objective fashion. Critically, they need the right commercial analysis of this information to provide the insight needed for action. It is here that many turn to finance and the management accountant, leveraging their unique skill-set.

Management accountants combine financial expertise and business acumen, so apply non-financial information alongside the financial facts to support effective decision making and action. In this way they drive performance and are trusted to guide decision-making, bringing independence and objectivity.

Our report cites a recent IBM study¹ that claims 84% of the best performing companies translate insights into action better than their peers. ‘Talent shortages’ and ‘war for talent’ perhaps not so contradictory in this scenario.

We cheekily asked the question; has there ever been a better time to be a management accountant? Well, if you consider the above it would appear that this is your time.

But (and there is always a ‘but’) for the CGMA to take full advantage and progress his/her career they need to take ownership of developing and maintaining a diverse set of skills. Commitment to lifelong development is also important in remaining fit for purpose and retaining the differentiation and value the CGMA designation provides.

The report includes a practical action plan to support you in achieving this and fast-tracking to your next career goal.

Good luck!

¹-Leading through connections. CEO C-suite Studies. IBM. 2012