Accountants 'dominate strategic thinking'

Accountants are dominating the strategic thinking at UK’s leading businesses more than ever before, breaking them free from the stereotype of being ‘grey people in grey suits’.

Over twice as many FTSE100 companies now have a chairman or CEO with an accountancy or finance background (58%) than 20 years ago (24%), according to Marks Sattin, a recruitment firm, whose MD, Dave Way, claimed that the current generation of bosses has benefited from advances in technology such as accounting software, the market for which has quadrupled since 1997.

This has allowed chiefs to focus on management issues, he said, adding that accountants have honed their communication skills, arguably, more than other professionals due to demands for increasing visibility of companies’ fiscal performances and the communication of that information to multiple stakeholders, often in complex matrix environments.

‘These advances, among others, have made the accounting profession more attractive to the best graduate talent. Accounting firms and finance departments were where many potential leaders chose to begin their careers 20 years ago; it’s no surprise that the experience gained… has helped shape them to be the leadership talent pool of 2010,’ said Mr Way.

‘We are seeing more accountants moving out of the backrooms and into the boardroom. In the boom years, a CEO with marketing experience may have been valued for the ability to build a brand. Now, accountants’ firm grasp of financial issues and ability to provide reliable, sensible expertise greatly improves their prospects.

‘Accountants have a newfound power in the business world. No longer are they “grey people in grey suits”. Instead, their training opens the door to a world of commercial opportunity. People are realising how financial knowhow can be a means to an end, rather than an end in itself.’

Categories: News , careers , Dave Way