6 Benefits to Investing in Professional Development at Your Accountancy Practice
18 Jun, 20251-2 minutes
In this blog, you will learn:
- 6 benefits to investing in professional development at your accountancy practice.
- More about our accountancy recruitment services to help you recruit for roles for your practice.
In today’s fast-paced and competitive world, every industry must strive to help their employees reach their professional potential through Continuous Professional Development.
The accountancy sector is no exception and building the ideal accounting team doesn’t stop after Accountants, Bookkeepers and other accounting professionals have been hired. Professionals need opportunities to evolve, grow and enhance specialised skills, whether it be tax advisory, auditing services or sector specific expertise such as healthcare.
Investing in your accountancy practice means investing in your employees' future and neglecting their professional development can lead to costly mistakes, an increase in errors, work-related stress and a lack of compliance.
From improving talent retention to meeting client demands, discover the benefits of investing in professional development at your accountancy practice.
What are the benefits to investing in professional development at your accountancy practice?
6 benefits to investing in professional development at your accountancy practice:
- Close the skills gap.
- Support employee ambition.
- Improve staff retention.
- Meet clients' expectations.
- Adapt to new technology.
- Promote diversity and inclusivity.
Close the skills gap
With the current skills gap in the accountancy sector, the need for trained professionals is only going to increase and it’s important that your practice takes steps to address and reduce the skills gap.
Tackling the skills shortage in the accountancy sector can be challenging with everyone striving to secure and retain skilled professionals, stay relevant and remain competitive.
Employees that are given career development training and opportunities to upskill are able to work more effectively, enhance their soft skills and tackle challenges such as adapting to regulatory changes and managing client needs.
Whether it's providing coaching and mentoring or access to training to enhance technical skills, offering career development opportunities across generations results in well-rounded accountancy professionals that can navigate the dynamics of the accountancy industry with confidence and solve problems efficiently.
Support employee ambition
According to the What Accountancy & Finance Professionals Are Really Looking for in a Job report, when asked what their reason for searching for a new job would be, 30% of accountancy professionals said opportunities for career progression.
Most accountancy professionals like to know that they are having a positive impact on their company’s success, as well as improving their skills and adapting to emerging trends. They want to work in a workplace that supports their ambitions to become an expert, be promoted and be successful in their career.
With employees seeking accountancy practices that match their values, investing in career development plans can offer continuous learning and opportunities for employees to specialise in particular areas of accountancy or become more well-rounded in their expertise. If your organisation cannot provide for these needs, then employees will likely look elsewhere for better learning opportunities or higher paying roles.
Focusing on your employees needs and creating personalised professional development plans not only opens doors to new career opportunities but also ensures that your practice is supportive of each other's learning.
Improve staff retention and satisfaction
Employees' efforts and contributions shouldn’t go unnoticed and if they are invested in their company, they would expect their employer to share the same values. Promoting lifelong learning and emphasising the importance of education and professional development is a great way to show your commitment to retention and improve employee satisfaction.
By offering strong learning and development opportunities, you’ll boost employees’ enthusiasm for their roles and the company, while also deepening their sense of loyalty. This can have a major impact on staff retention, as employees who are given opportunities to grow, feel challenged and see a clear path for advancement are far more likely to stay engaged and committed over the long term. This is an effective way to combat employee turnover.
Meet clients expectations
Investing in professional development at your practice isn’t just for employee satisfaction as clients demands and expectations are also evolving. Clients expect Accountants to wear multiple hats and deliver insights, not just numbers, which can be achieved through continuous learning opportunities.
Through relevant training and professional development, employees can strengthen their skills and expertise and even specialise in key sectors of accountancy or niche markets. This not only boosts individual performance and helps Accountants stand out, it positions your organisation as a forward-thinking, client-focused and engaging place to work and do business with.
Investing in professional development increases the overall value your team brings to clients, enhances your brand reputation and sends a clear message that your practice is committed to growth. This can attract more clients, increase loyalty and lead to long-term business relationships.
Adapt to new technology
Technological advancements, especially the rise of Artificial Intelligence, are changing the way accountancy professionals work, creating increasing pressure for professionals to stay current and adapt quickly.
It’s important to train accountancy professionals to allow them to utilise artificial intelligence to simplify and automate tasks and provide solutions to challenges. To remain competitive, ensure efficiency and maintain compliance, it’s essential for Accountants to understand and embrace the evolving role of technology.
Professional development opportunities can equip professionals with the skills and knowledge they need to leverage AI.
Professional development initiatives can also help employers attract Gen Z talent; when senior professionals retire, it’s important that accountancy practices can recruit and retain graduates and young professionals.
A survey by McCrindle found that by 2034, Gen Z will comprise a third (34%) of the workforce whereas Generation Alpha (2010-2024) will be starting their careers, making up 15% of the workforce.
As technology continues to advance and play a significant part in the accountancy sector, Gen Z are focusing on improving their technical skills. According to Deloitte, when Gen Zs were asked the strongest reasons for choosing to work for their current employer, learning and development was in the top three.
Accountancy practices that keep up to date with technological and AI trends, changes and advancements can empower their employees to harness their full potential and enhance their technical skills.
Promote diversity and inclusivity
Investing in professional development isn’t just beneficial for efficiency and business, it can also play a part in ensuring that every employee has equal opportunities to thrive in their careers. Considering the preferences, needs and expectations of all employees is crucial to development and learning as it can positively shape the culture in your practice.
According to research by Free Agent, a fifth of Accountants have experienced discrimination or bias based on their gender, race, ethnicity, sexual orientation. When asked how the industry could welcome further diversity, 32% said mentorship and/or coaching.
With the accountancy sector facing challenges in recruiting and retaining women, especially in senior roles, investing in professional development and mentorship programs could help attract a more diverse talent pool from a range of socio-economic backgrounds.
According to the What Accountancy & Finance Professionals Are Really Looking for in a Job report, when asked what career perk is most important, most women (30%) said professional development compared to just 11% of men. With women wanting more opportunities to learn and upskill, it's important to empower everyone to succeed in the accountancy sector regardless of gender or other factors like age, sexuality, class, race, religion or ethnicity.
Practices can benefit from offering diversity training programs to help employees recognise and reduce unconscious biases and promote equality and inclusivity. By providing equal opportunities for employees to thrive and be considered for promotions or leadership roles, practices are investing in their staff's wellbeing, growth and future.
Discover what Accountancy & Finance professionals are looking for in a job
As a specialist accountancy and finance recruitment agency, we understand how to support accountancy practices and private sector businesses in their mission to attract, engage and retain the best talent.
After conducting extensive research with accountancy and finance professionals, we compiled the What Accountancy & Finance Professionals Are Really Looking for in a Job in 2025 report.
The report delves into the key factors shaping job preferences and expectations within the industry and uncovers topics such as preferred salary, perks, benefits, work flexibility and work culture.
Read the full What Accountancy & Finance Professionals Are Really Looking for in a Job in 2025 report here.
Accountancy recruitment services
As specialist accountancy recruiters, we support practices nationwide with their permanent recruitment needs.
Whether you’re searching for a tax, audit or payroll specialist, we will help you to find whoever you need to make your practice thrive.
If you’re struggling to fill a vacancy, why not get in touch with Management Consultant Lauren Fisher on 01772 954200 to see how we can help?
Accountancy jobs
If you’re searching for your next accountancy job, why not take a look at the latest vacancies, or simply upload your CV to be notified when a relevant position becomes available.
Meet Lauren Fisher
Who is Spencer Clarke Group?
Established in 2017, we’re an award winning and progressive recruitment agency based in the heart of the North West. Our reputation is built on trust, expertise and an unwavering commitment to exceed expectations.
In 2024, we were named Recruitment Agency of the Year at the prestigious Recruiter Awards, an accolade we are extremely proud of.
We operate in two sectors:
In eleven specialisms:
Healthcare, Social Care & Nursing
Corporate Functions & Business Support
