For accounting and finance teams to help their organisations keep pace with a rapidly evolving global marketplace, their roles have had to change. It’s no longer enough for accountants to provide technical and compliance services by preparing financial statements, for example. Businesses now need more than just the “what” of accounting; they need professionals with an “advisory mindset” that can help interpret data, provide insights and partner with business leaders to influence strategy and decision-making. Whether finance teams are able to meet this new demand often comes down to their recruitment practices.
The Shift Toward Advisory-Focused Accountants
The old view of accounting as a compliance function has left a legacy of traditional accounting jobs focused on reporting, auditing and statutory compliance. Whilst these skills will always be important, they are no longer enough. Business leaders now demand accountants who not only understand what the numbers mean, but also have the strategic thinking, communication and problem-solving skills to say what should be done next.
This demand has created a need for a new generation of professionals who can work across the financial, strategic, communication and problem-solving spectrums. The best accountants are moving beyond the balance sheet to become trusted business advisors, able to connect the dots between financial performance, operations and growth.
For employers, this means that accounting recruitment strategies must prioritise more than just technical qualifications. The goal is to uncover candidates who demonstrate broader business awareness and the interpersonal skills required to influence decision-making.
Core Qualities of the Advisory Mindset
In terms of technical ability, there is no difference. Where the lines are blurred is in the possession of soft skills and an outward-looking, business-oriented view. As such, we tend to look harder at candidates who show:
- Excellent communication skills: An advisory-oriented accountant should be able to communicate and articulate their financial findings and implications with clarity and a degree of persuasion. This should be done with not just a financial audience in mind, but a non-financial one as well.
- Sense of problem-solving: Rather than simply identifying problems or areas of financial risk, an advisory accountant should be able to present solutions or alternatives.
- Commercial acumen: A good advisor should be able to connect the dots between the company’s financial performance and its standing in the industry, the customer, and market and competitive pressures.
- Strategic thinking: An ability to use financial information to help the business drive towards its long-term goals. This can include identifying growth opportunities or operational efficiencies.
- Teamwork: Accountants who work well in cross-department teams have the potential to be true business partners to operations, sales and marketing, and the executive team.
Candidates who possess the above traits will be able to comfortably step into a value-added role..
Rethinking the Recruitment Process
Hiring the right accountants is more than scanning CVs and technical qualifications. Employers need to sharpen their recruitment process to better identify the traits that point to strategic promise.
- Interview questions: Behavioural and situational questions can be especially revealing. For instance, asking a candidate to share an example of when they persuaded a non-financial stakeholder, or how they addressed a business problem, can shed light on their actual-world advisory potential.
- Case studies and role plays: Giving candidates scenarios to work through, such as a margin squeeze or an opportunity to expand into a new market, can help assess their analytical and advisory skills. Look for candidates who provide not just numbers, but actionable recommendations.
- Cultural fit: Challenging assumptions and offering new perspectives must be in line with the organisation’s leadership style. Hiring managers need to consider if a candidate’s communication style is compatible with the company’s collaborative culture.
Attracting Advisory-Focused Talent
If you want the best, most advisory-minded accountants, you have to be a place they want to work. You will not get the top talent if your role is only compliance-focused and doesn’t offer a great deal of business involvement. Try to emphasise and communicate:
- Insights into, and the ability to be involved with, business decisions/planning and/or market expansion.
- Opportunities for growth within the company and in the field of accounting: This includes access to leadership training, mentorship programs, or opportunities to work on cross-functional projects.
- The technology used by the company: Advisory accountants want access to the latest technology that is going to help them be successful in their roles. No one wants to sit in Excel all day when they could be looking at real-time data and presenting business analysis reports.
- Flexible work environments: A progressive culture that also allows for flexibility is important when it comes to retention, especially if paired with meaningful work that actually has a visible impact.
- Don’t forget what makes advisory-minded professionals tick: influence and impact. If you show that the finance function is involved in the company’s core strategy, you’ll be miles ahead in the race for talent.
Building a Finance Team That Drives Growth
Hiring for the advisory mindset isn’t just an individual endeavour, but one that, as a finance leader, you can start at the team level as a way to architect your entire function with growth in mind. The benefits of a finance team oriented around technical and advisory skills are many:
- Decision-making with confidence: With data as their guide, advisory accountants help convert financial data into business insights so the business has less guesswork in how they strategise and operate.
- Risk mitigation: Helping the business stay proactive about risk and more responsive and nimble in the face of a changing landscape.
- Better relationships: Business leaders and managers have an ally in the finance function that delivers a message in plain, actionable terms focused on solutions, not just numbers.
- Value creation over time: Finance teams focused on growth will be the engine for sustainable value creation.
This is where integration with business advisory services amplifies impact. Combining advisory-minded accountants with external advisors allows businesses to access deeper insights, benchmark performance, and plan for growth more effectively.
The Future of Advisory-Driven Recruitment
In an age of increasing automation of traditional accounting roles, the skills gap in business advisory services will only continue to grow. While remaining cautious of over-investment, there will be a need for companies to start focusing now on attracting and developing advisory-minded accounting talent for future growth.
Accounting recruitment in this future-forward landscape will likely need to take on a new structure and strategy. The process should be less about candidates having X number of skills on their resumes and more about their communication, problem-solving and strategic capabilities. Firms will need to ensure they are building finance teams who do more than ensure compliance — instead, people who will impact decision-making, identify opportunities and help determine the trajectory of a business. Recruiting accountants with a business advisory mindset, however, will take a thoughtful, strategic and forward-looking approach. In addition to possessing the traditional core skills, these professionals must also be able to link numbers to strategy and explain their insight in clear terms. They will also need to be more collaborative, bridging the gap between various functions.
