Long gone are the misconceptions of certified public accountants (CPAs) as “number crunchers.” The role evolved decades ago to that of strategic advisor, and over the next five years and beyond, successful firms will need to develop modern accountants with strong relationship skills, business development acumen, creative thinking and problem-solving capabilities, as well as the ability to lead through change.

The ability to do this in the market determines who can succeed; and the key is learning and development (L&D). In the tech landscape, skills often become stale after just five years. It’s important that firms focus on continuously training analytical workers, like accountants, and encourage employees to be more strategic, future-focused and engaged in their careers.

Why Young Professionals are Closing the Books on Accounting

The accounting profession has a branding problem. It’s perceived as a risk averse, hierarchical career, not a creative or agile one, and for many, the mention of “accountant” conjures images of individuals sitting alone for long hours, working with numbers in a very “rinse and repeat” work style. But the profession is being disrupted in a major way — the accountant role now encompasses advisor, thought leader, confidant and business partner to clients in a way no other position does.

It’s time for the industry to tell a better story to young adults considering what career path to pursue, one that highlights the impact accounting has on businesses, communities and economies. Doing so can help to revitalize accounting as a desirable profession that people can be passionate about.

The New Bottom Line: CPA + AI + L&D = $uccess

It’s important to note that AI models are helping to disrupt the rinse-and-repeat work model for accountants, providing them with time to complete more complex tasks like relationship-building. Additionally, the ideas around accounting’s long hours and hierarchical model are being challenged as firms increasingly shift to new models that focus on ongoing L&D initiatives.

The CPA of the future leverages technology as a powerful tool combined with their skills in deductive reasoning, problem solving and strategic insights to be that next-level trusted advisor, propelling them to the forefront of the industry. Employers must prepare them for this exciting future by providing them with the upskilling necessary to remain competitive and relevant in the face of fast-moving tech. And young professionals are hungry for a future like this.

According to LinkedIn research, 80% of workers feel learning opportunities give them purpose in their work. Gen Z employees, the youngest cohort, feel this most strongly since almost 25% say a lack of L&D options would motivate them to leave their current job. To retain and engage workers, firms should prioritize the following:

• Personalized paths. No two people learn exactly the same way, so learning opportunities should be flexible and customizable to best suit everyone’s needs. Learning comes in many forms, from work assignments to coaching and mentorship to bite-sized micro-learning and community-based social learning. The modern firm needs to offer choice and co-create learning with employees.

• C-suite champions. Securing buy-in from firm leaders can demonstrate the importance of learning for other team members. When firm partners inspire employees and participate in L&D themselves, employees are four times more likely to be engaged, resulting in better overall performance. This shows humility and the growth mindset necessary to continue to evolve as a strategic advisor. Leaders also play a key role in “linking and labeling learning.” This practice can allow folks to see how something they just learned or were coached on gets put into action and reinforced with an acknowledgment.

• Make the time. The time investment necessary for L&D initiatives is one of the top reasons firms don’t do L&D. Firms that prioritize non-charge hour time on L&D as well as integrating learning into the flow of work are positioning themselves to be leaders in the sector. Community-based social learning, where individuals learn in the flow of work, gives double credit—not only can they apply what they learn to charge hour time, but they can also use non-charge hour time to up their game.

• Listen to employee feedback. When planning L&D, conduct needs assessments to determine skill gaps and then create relevant learning opportunities. For example, if the survey says everyone already understands how to use a newly adopted software, don’t spend resources on a “lunch and learn” that rehashes what they already know. Identifying and addressing actual skill needs can empower employees and make them feel more heard, which can also help drive engagement.

• When you succeed, we succeed. Don’t keep employees in the dark about why you’re pushing certain skills — instead, let them know how their work fits into the firm’s big-picture goals, and lay out what their growth with the firm can look like if they continue down the path of lifelong learning. Employee growth begets firm growth.

When coupled with the promise of ongoing educational opportunities, the accounting profession may become more attractive to young talent just starting out in their careers, even when compared to the tempting call of the tech sector or startup companies. And the focus on artificial intelligence (AI)-driven tools, offshoring and investment in L&D, is likely to win back accounting and advisory professionals that left the firm model to go corporate and want to re-energize and balance their future career at a modern firm. Accounting and advisory firms that adopt and implement new tech systems and tools, and appropriately upskill their teams are future proofing both the employee’s role and the business overall. Ultimately, ongoing learning equates to ongoing success.