Lifelong Learning - Why investing in your development makes sense
Author:
Michael McDonnell
Lifelong Learning. Now there's an expression to conjure with! A bit like work-life balance - it’s hard to pin down or define yet most of us know enough about it to want one, most of us are absolutely convinced that others have it all and more. Nobody wants to talk about it too specifically in case others get the misplaced notion that we're either workaholics or free-wheelers!
But now the opportunity to talk about Lifelong Learning has arrived. And as long as you don't take this personally, I would suggest that it is high time we did talk. I would suggest that there are, in fact, few things more important for a Chartered Accountant to consider and discuss than learning and development. Some of you at this juncture are probably thinking ‘he would say that, wouldn't he’, so I feel obliged to use the succeeding paragraphs to back up my assertion. (Note: At this stage, if you are already convinced, you could probably skip to the last couple of paragraphs but, then again, you might miss some interesting stuff in between).
THE MEANING OF LIFE
Just to prove that my Chartered Accountant training contract did what it said on the tin, let's begin by defining the issue. And I do believe that at least to begin with, the answer lies in the name. The concept of Lifelong learning (which for the sake of the rainforests, I shall forthwith refer to as LLL) envisages that human beings benefit from opportunities to learn over a sustained period. Let's say, for the sake of argument, a lifetime. But just before some of you 'go off on one' about the dangers of an apparently one-size-fits-all argument, best to stress that the term does not suggest what type of learning is appropriate, how much is required, or when we are likely to require the learning over our lifetime. In short, everyone needs to get a (learning) life, but everyone's (learning) life is going to be unique.
Hopefully, you are beginning to get the gist of this LLL gig. Personally, I believe that learning gives meaning to life, but I reckon quite a few readers will think ‘it might be OK for others, but not for me’. Recognising this, maybe a better way to think about learning is to paint a few pictures and consider the relevance of the Institute of Chartered Accountants in Ireland's (ICAI's) LLL resource.
IS THIS YOU?
Before we do this bit, I ask you to consider the following scenarios carefully - not because I’m going to ask questions later, but rather because you may be tempted to discard their application as superficial. So ask yourself not only if any of the scenarios apply to you now, but perhaps more importantly could they apply to you in the future?
-Are you recently qualified, and really the last thing you'd like to think about is any more development but when it comes down to it, you're not really terribly sure what you want to be when you 'grow up'? Should you ‘specialise’ (the quickest way to being deemed an 'expert'), or should you generalise (and by so doing, keep your options open)?
Role for the ICAI LLL team? - We can help you identify the typical career paths for Irish Chartered Accountants (of which there are many), we can help you 'objectively' assess your 'fit' with each, and we can help you make the best decision at this stage of your career
-Are you in a responsible role, performing well (you think), busy with 'day-to-day' challenges, but you have the feeling that you could and should be finding more time for your learning and development, only 'it's bloomin' hard to find the time, and in any event what could I usefully be developing'?
Role for LLL? - We can help you identify development needs for your current role through effective development planning and assessment tools (getting feedback from colleagues if appropriate), we can help you think about your longer-term career plans and what this means for learning, and we can provide access to a range of learning opportunities that match your learning style and the time you have available
-Are you 'stuck in a rut', doing the same role for far too long, getting a little bit stale and in 'wild' moments would consider a new challenge, but you wonder if you really could, or should? Can the proverbial leopard change its spots?
Role for LLL? - We can identify the difference in skills between your current and potential roles, we can help you to identify and develop the 'new' skills that will make a change in direction possible, and we can guide you on when and how a change might be possible.
-Are you master of your own destiny, probably self employed or the business proprietor, doing pretty well, but would really like to step the business up to the next level in terms of profitability and scale? How can you earn a bigger crust? How can you be 'smarter' in the way that you work? How can you build up a team and learn to manage others, so that you can get more 'free' time?
Role for LLL? - We can improve your leadership, teambuilding and delegation skills, we can hone your client relationship and marketing skills, we can help you to plan for succession and, ultimately, we can reduce some of the stress levels
-Are you on top of your job, and really happy with the cards that life has dealt you but a little voice in the back of your head says that it would be quite nice to build your intellectual capital, or to give something back to society? You're feeling magnanimous, yet in spite of everything else, slightly unfulfilled?
Role for LLL? - We can provide access to further post-qualification programmes to reflect your expertise, we can give you the opportunity to mentor other members, and we can build your skills to allow you to take on that new 'non-exec' challenge
-Are you on a career break, would like to get back to using your qualification but your technical knowledge has 'dulled', and more importantly, your confidence is a little ropey? Will you be able to cope with the new workplace? Will you be able to convince others of your ability to cope?
Role for LLL? - We can guide you about options and choices, we can identify the knowledge and skill requirements to get that new job, and we can provide you with the knowledge, skills and confidence to re-enter a business workplace.
-Are you in a senior position, operating at the highest level in your organisation or sector and when it comes down to it, you're wondering just how LLL can really add any value to your own particular situation?
Role for LLL? - We can continue to identify and serve your needs by providing opportunities for networking with other senior Chartered Accountants, challenging your views (in a healthy way) and providing new perspectives on leadership in a global context.
Well, did you see yourself, now or sometime soon?
Even if you only recognised a 'friend', then hopefully I've started to make a case for LLL. As I said earlier, I passionately believe LLL should mean something for every reader, but what it means for you is up to you. I'm going to say more about our plans in ICAI below - and hopefully you'll begin to think about what LLL actually means for you. But before the 'carrot', I'm going to have to talk about the 'stick'.
THE 'BIG STICK'
As Chartered Accountants, we are a reasonably sophisticated bunch when it comes to this notion of LLL. For years, Chartered Accountants in practising firms have been required to commit to, and record hours of participation in, the gloriously entitled 'Continuous Professional Development' (CPD). I for one, have certainly drawn considerable heart from these requirements for CPD as evidence of the ‘superior being’ that is the Irish Chartered Accountant. Ah, the many hours spent at dinner parties arguing with solicitors, architects, and the like over the size and quality of their professional development processes. Even when I worked in business, I was still comforted by the need to engage in unstructured CPD, even if I wasn't quite sure what this was, and even if no-one ever really checked that I was doing it.
IES 7 - Continuing Professional Development: A Program of Lifelong Learning and Continuing Development of Professional Competence
Things are about to change. International Education Standard 7, issued by the International Federation of Accountants (IFAC), requires all of us to commit to some level of structured CPD. No big deal for our members in practice, or for those in business acting in an accounting/ finance role who have been required to commit to a certain level of structured CPD since 2001 (and I shouldn't miss the opportunity to plug ICAI, in that we have been years ahead of our sister Institutes in requiring this level of LLL, a requirement that other Institutes are only now getting around to imposing). But if you work in business and not in an accounting / finance role, you need to do more. So, please note carefully , you will be required from 1st January 2006 to increase your total CPD hours to 40 per annum (up from 30), and to commit to at least 20 hours (previously none) per annum of structured CPD. Yes, I know. So perhaps it's time to talk about the 'carrot'!
A WHOLE BUNCH OF 'CARROTS'!
Well, I think that there are a number of carrots. If we return to the scenarios posed earlier, then engaging with LLL should help you to:
- Make the most of being a Chartered Accountant.
This requires a degree of clarity about just exactly what a Chartered Accountant is -and should be - not something which you or the ICAI has given much thought to precisely, but something which is hugely important. We have already begun to debate what competencies you should possess as a Chartered Accountant.
Your views on the draft competencies are critical -so what do you think? A profile of a qualified Chartered Accountant helps you to identify skills that you need to have, but which require development, thereby providing a focus for your learning. It will also help ICAI to design and deliver a more focused, relevant and valuable CPD programme going forward.
-Identify and make the right career choices
We know how many options are open to Chartered Accountants in terms of their careers. You only have to look at the number of Chartered Accountants rising to the top positions in financial services, manufacturing, life sciences, software, telecoms, consulting, and the public sector -not to mention those succeeding in practice - to recognise that the CA qualification is a 'lifetime passport' to a host of careers. Once we have agreed a core Chartered Accountant competency profile, we will identify more career-specific profiles that will inform the ICAI’s development support agenda, but more importantly, provide Chartered Accountants with guidance on how to succeed in their chosen careers, or on how to change career paths.
-Improve your business and your well-being
We want you to make more money, and / or find the right work / life balance with consequently reduced stress levels. As you will have noticed from the competency 'map', being good at what you do requires not just the core functional skills, but also broader business skills and the right professional values. It behoves ICAI to broaden our view of what constitutes development needs, and in turn to make the case to members to broaden their perspectives - although I'm conscious that many already have.
-Find a learning opportunity that suits you
Traditionally, ICAI’s CPD programme has majored on the core functional skills, delivered to large groups in an 'information-sharing' or 'briefing' style of delivery. Although this will still be appropriate for some topics, we need to expand the range of topics and offer alternative styles and formats to reflect different learning styles. Where possible, we also need to alter the timing of workshops to reflect attendees' business constraints. But the agenda for change is much broader than this. The existing workshop content should be augmented by a comprehensive on-line resource, thereby reducing geographical barriers to learning. We need to provide access to post-qualification programmes and accreditations to build Chartered Accountants’ competitive advantage. We need to develop a range of learning and development publications and support materials. We need to encourage Chartered Accountants to mentor and coach each other as a means of transferring knowledge and skills and we need to provide advice, guidance and encouragement on all things developmental.
The other significant carrot is that ICAI is committed to offering an alternative 'output' based approach to CPD, rather than merely the current 'input' approach which focuses purely on hours spent on learning. This means that from 1st January 2007, Chartered Accountants can chose to think about their learning in terms of the consequent improvement in skills and performance.
MUCH DONE ... MORE TO DO!
As I mentioned earlier, ICAI's commitment to the continuing professional development of its members since 2001 should be applauded. It was ahead of its time. But time moves on. The aspiration of the Strategic Review Group to provide a 'comprehensive professional development support service' is spot on. Members require and expect no less. My vision for Lifelong Learning is to put this issue - and the ICAI support resources - at the very top of every Chartered Accountant’s 'must do' list.
Going back to where this article started - and thinking of an old ad on the TV (showing my age here) - talking about LLL is good, but in truth, actually doing something about your development needs whatever your role or level, and bringing these new skills back to the workplace, is actually what counts.
Michael McDonnell is Director of Lifelong Learning with the Institute of Chartered Accountants in Ireland.