Finance professionals prioritise D&I in career choices

AI's increasing integration in finance roles signals a transformative phase, reflecting evolving dynamics in the industry's landscape.
By: | February 22, 2024
Topics: Employee Experience | Mobility | News | Professional Development | Singapore

A strong diversity and inclusion culture has emerged as a critical factor in employment decisions, according to insights from the Association of Chartered Certified Accountants (ACCA). Specifically, 78% of finance professionals consider this as a pivotal factor when considering employment opportunities. This revelation comes amidst a talent crunch, with over half of respondents anticipating their next career move to be outside their current organisation.

The ACCA’s latest Global Talent Trends Survey 2024 gathered insights from nearly 10,000 professional accountants across 157 countries.

Beyond diversity and inclusion, the survey delved into various workplace issues such as hybrid working arrangements, mobility, mental health, and the impact of the cost-of-living crisis. One of the significant findings of the report is the increasing integration of AI in finance roles, signalling a transformative phase in the industry.

Pulkit Abrol, Director, Asia-Pacific, ACCA, said, “Across Asia-Pacific, we’re witnessing a transformative phase where AI and digital technologies are not just tools but essential elements that redefine the value finance professionals bring to the table.”

Moreover, the survey shed light on the talent dynamics within Asia-Pacific, with 58% of professionals seeking a pay rise in 2024 amidst global economic strains. However, half of the respondents believe transitioning to a new organisation is necessary to achieve their financial goals, highlighting a need for employers to rethink talent retention strategies, Abrol added.

READ MORE: Singapore Budget 2024 consolidates skills-based economy

Soft skills such as communication, problem-solving, adaptability, and initiative are identified as crucial in the current climate, complementing technical expertise in finance.

The report further underscored the importance of continuous learning and development to remain competitive in a rapidly evolving landscape, as Abrol concluded, “ACCA is committed to supporting our community of members and future members through this journey, providing resources and platforms to enhance their skills and confidently embrace the future.”