If you’re unsure about where your current role is headed, or you’re stuck for your first job, implementing an effective career plan can help to guide you.
Setting long and short term goals throughout your accountancy career can help you to understand what options are available to you and allow you to create a career development plan to help you achieve them.
Career planning can also help you to stay focused when things might not be going your way.
In this article, we explain how to create a career plan and share some key steps s that you should consider when looking for your next job opportunity.
What is a career plan?
A career plan is a step by step guide that can help you to achieve your dream job in the future.
Not only can it help you to understand what career options are available but it also helps you understand what new skills and training you may need for developing a career plan can help to steer you in the right direction, especially when you’re feeling a little lost.
Ideally, your career plan should outline specific action steps that you need to take in order to progress on your career path.
How to write a career development plan for accountants
Learn about potential career options
The first step to creating any career plan is to understand what career path you’re interested in going down as this will help you to make effective career decisions. Think about what skills you have as well as ones you don’t have, what projects you enjoy working on the most as well as any industry-relevant expertise you have.
Set up informal meetings with managers, colleagues and other industry professionals to discuss their careers in accountancy and to try and gauge an understanding of the training you may need to achieve success in your desired field.
Networking events can also be beneficial as they allow you to set up informational interviews with industry professionals and ask them questions about their line of work.
Identify careers that match your expertise
It’s likely that you feel most comfortable in a role that best fits all the skills you have learned during your time throughout your financial education or career to date. For example, if you have a keen eye for detail and are able to pick up on things that don’t look right a career in forensic accounting could be for you.
In addition to your hard skills, you also want to think about what soft skills you have. Soft skills are personality traits and behaviours that shape how you work with other team members.
Some key soft skills needed in accounting are:
- Communication – you need to be able to tell the story behind your numbers
- Listening – you need to be able to understand what your client wants so that you can find the best solution for them
- Collaboration – shared work and planning are a vital part of many accounting roles, so you need to be able to work well with others
Set long term goals
It can be a daunting process putting down what you want to achieve in the future, but it will help guide you in your career.
Think about your current situation and ask yourself where you might like to be a few years from now. This will allow you to plan for the future from there.
Ask yourself questions like ‘what type of progress would I like to have made?’ and ‘will I need any further training to get me there?’
Asking these questions will help you to understand what parts of your career you most enjoy and thrive in so that you can make important decisions about where you want your career to take you.
Setting SMART goals is an effective way to help you achieve your career goals
Specific
Be clear about what you want to achieve
Measurable
How will you know if you have achieved your goal?
Achievable
Don’t set yourself up for failure
Relevant
Make sure that your goal is relevant to you
Timeline
Setting a deadline for your goal matters as it helps you to stay accountable
Start planning your career path
If you’ve just graduated from university, identifying your interests is the best idea. This will allow you to research the relevant opportunities available which can help you to set career goals.
If you are already well-established in your career, understanding what roles you could step into will help you to focus your job search.
When creating an action plan for your career, it’s important to be realistic about your expectations and timelines. Ensuring you have your goals written down and the steps needed to get you there will help you stay accountable as you can tick them off as you complete them.
Keep a record of your plan
Once you have decided on the path you’d like to take your career down and some measurable goals, you should write them down so that you can continue to reference them.
Having a list of steps that you can easily follow can help remind you why you’re doing what you’re doing when things get tough and can also help show you how far you have come.
The great thing about having your career plan written down is that you can tweak it as you see fit. New job opportunities may crop up which means you have to change your goals or you may change your mind.
Regularly review and tweak your career plan
Things happen throughout our lives that change our outlook on our careers – and that’s okay! Remember, your career plan is a guide and not a bible so allow yourself room for change.
The original plan you may have made a few years ago might not be relevant today, so set time aside to regularly review your goals and ambitions.
Reviewing your plan regularly will help you to understand your personal preferences and allow you to decide whether you need additional education or training to achieve your goals.
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