11:24 - 30.07.2021
July 30 Fineko/abc.az. A decade of opportunity for Generation Z accountancy professionals and their employers is predicted by ACCA (the Association of Chartered Certified Accountants) and IFAC (the International Federation of Accountants) in a new report published today Groundbreakers: Gen Z and the future of accountancy.
Gathering the views of 9,000 18- to 25-year-olds globally, including 74 in Azerbaijan, the report throws fresh light on the aspirations and fears of this up-and-coming generation of young professionals, while also offering employment advice for them and employers alike.
Azerbaijanian respondents see accountancy as having a positive image offering an attractive career option. But this is also a generation concerned about the future – 55% of Azerbaijanian Gen Z are concerned about the future of education compared to 37% globally, and 54% identified lack of job opportunities / job security as a concern versus a global average of 58%.
Young generation in Azerbaijan is more positive thinking compared to global: 76% think that business has a positive impact on a wider society compared to 69% globally.
Portability of finance roles globally is a point of attraction for every second (53% versus 37% globally). Rapid career progression (61% of respondents) attracts them to employment with an organization.
Gen Zs in Azerbaijan are an ambitious lot. Close to 60% expect their next move to be within 2 years.
The report also reveals that as employers, the profession is missing opportunities to attract more young people to its ranks.
Filiz Demiröz, head of ACCA Azerbaijan, Turkey, Georgia and Afghanistan:
‘Our findings present both challenges and opportunities for the accountancy profession and business here in Azerbaijan and globally. That is because Gen Z will demand more accountability from the leaders of the organizations in which they work, and they’ll also have high expectations of their work–life balance and how employee welfare is managed.’
Filiz concludes: ‘The world now demands more accountability and transparency – the mantra is simple: stakeholders, not just shareholders. For the accountancy profession, this represents a potential turning point and these young people will help create a workforce which is more diverse, more inclusive, and which will make businesses more cognisant of their broader role in society.’
‘Our report explains how Gen Z will bring their talent and tech know-how to the profession and change it, pursuing careers with purpose and doing jobs that make a difference. It’s a message of opportunity and positivity as we work towards to achievement in 2030 of the UN Sustainable Development Goals.’
To help Gen Z navigate the future, ACCA’s report recommends ways they can future proof their own careers, and realize their career dreams as work changes:
Groundbreakers: Gen Z and the future of accountancy offers employers 10 ways to harness the potential of Gen Z:
The full report can be downloaded here:
Ground-breakers: Gen Z and the future of accountancy | ACCA Global
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