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Career progression and job training have always been important for Chartered Accountants. The introduction of the Lifelong Learning Employer Partnership program underlines the commitment of the Institute of Chartered Accountants in Ireland to supporting the development of its members in Ireland’s knowledge economy, reports Shane McGinley.

Finance workers are overstressed and are demanding more training. That was one of the findings of a survey carried out late last year by specialist recruitment consultancy Robert Half Finance & Accounting. The 2006 Ireland Salary Survey revealed that one in three (32%) finance professionals are stressed at work due to their increasing work load. However instead of asking for less work, the majority (23%) wanted more training to make them better equipped to carry out the tasks in hand.

“Finance professionals need to be careful as working on overdrive can be just as dangerous to their careers as simply ‘getting by’,” Ken Harbourne, branch manager of Robert Half Finance & Accounting in Dublin, said launching the results.

“Employers need to help finance professionals manage their workloads by reviewing company training programmes and identifying the appropriate guidance required. Constant training will improve workers’ skills, helping them cope with the growing demands of each assignment.”

Harbourne’s views are not new. Various surveys in recent years have revealed the importance that today’s workers place on training and career development, often above salary. It is a view that is shared in practising accountancy firms. In interviews conducted for the Accountancy Ireland practice profiles series, managing partners report that interviewees are always very interested in the training and career progression that the firm can offer. In the competitive recruitment environment offering further training and career advancement is not a perk but a necessity.

Chartered Accountants are acutely aware that education does not end on admission to membership of the Institute, but is ongoing throughout their professional career. Continuing Professional Development (CPD) has long been a requirement for Chartered Accountants in practising firms and the Institute of Chartered Accountants in Ireland was one of the first professional accountancy bodies to introduce mandatory CPD.

To support members in maintaining their professional competence through lifelong learning, the ICAI has recently launched a Lifelong Learning (LLL) Employer Partnership.

“ICAI is committed to the lifelong professional and career development of its members. Employers clearly play a crucial role. The Employer Partnership product that we have launched seeks to acknowledge excellence in corporate learning and development policies, procedures and practices”, says Joe Carroll, a Consultant in the Lifelong Learning & Support department at the ICAI.

Joe believes that a major benefit of the initiative for employers participating in the partnership is simplification in meeting the CPD requirements for ICAI members in their organisations.

“ICAI has had mandatory CPD requirements for its members since the 1990s. Chartered Accountants are required to maintain their competence throughout their career and participation in CPD programs – by attending courses run by ICAI or other providers is an important element of maintaining competence. Whilst satisfaction of the Institute’s CPD requirements remains an individual responsibility, recognition of an organisation as an ‘ICAI Lifelong Learning partner’ provides considerable reassurance for ICAI members working in those organisations,” Joe says.

So far a number companies of various sizes, have signed up for the initiative.

Cadence Design Systems, based in Eastpoint Business Park, Fairview, in Dublin is typical of the smaller companies participating in the partnership scheme. One of the world’s leading electronic design automation (EDA) technologies and engineering services companies, Cadence received its Lifelong Learning (LLL) Employer Partnership credentials late last year.

Finance Manager, Gerard Byrne, began his accounting career in practice at Horwath Bastow Charleton, spending three and a half years there before moving to Cadence Design Systems where his initial role was Financial Accountant. He progressed over a few years to management.

“After coming from practice you are new to industry and there is a lot to learn at the outset,” says Gerard, but by using the internal structures and training provided by Cadence he was able to enhance his skills and smoothly progress his career within the company.

Dublin is the European shared services centre for Cadence Design Systems, Inc., which has offices worldwide headquartered in San Jose. There are currently twelve qualified accountants, six of whom are ACA qualified, working as part of the Dublin Finance team to look after the various European entities.

Gerard’s colleague, Karen McManamon, began her career in practice with PricewaterhouseCoopers. Having qualified as a Chartered Accountant, she took a year out to go travelling before joining Cadence as a Consolidating Accountant. Like Gerard she progressed very quickly within the company.

“It is very much on the job training,” says Karen, “but Cadence has a good structure in place so I could avail of workshops, internal training and feedback from superiors and peers”.

There are a number of benefits for organisations signing up for the LLL Employer Partnership, says Joe.

“Recognition of good practice in your corporate learning and development policies, procedures and practices is a core benefit. Companies can promote themselves as an ‘ICAI Lifelong Learning Partner’ and in a world where good corporate branding is increasingly important this is an extra badge of honour.”

So, if you wanted your company to become a partner under the scheme what would it involve?

“The ICAI will recognise your organisation as one that satisfies our requirements for effective employee development. That will reinforce your organisation’s reputation as an ‘employer of choice’. In effect it is an endorsement that you can use to attract the best candidates,” Joe explained.

“Participating in the LLL Employer Partnership gives organizations access to a range of ICAI products and services designed to support learning and development activities, including tailored training and ICAI content and also access to a network of other employers to share issues and solutions in relation to learning and development. Eventually the ICAI aims to provide a forum where LLL Employer Partners from both within and outside Ireland can offer each other advice and support in a mutual exchange of ideas that will help improve and develop their individual CPD programmes,” Joe added.

Gerard believes it is important that employees are able see the next logical step in their career progression within the company. “We have people at all levels of the accountancy exams so there is a lot of career progression. As well as workshops and technical training the company has established the “Cadence University” where employees can avail of management training and soft skills like people management, time management, leadership, performance evaluation, etc.”

The Lifelong Learning Employer Partnership was a “way of having Cadence University and our own internal training initiatives recognized by the Institute for CPD purposes,” says Gerard.

Cadence already had a lot of structures in place before it applied to become a LLL Employer Partner, Gerard says one of the practical benefits that emerged from the process was that ACA members were able to centralise their training information and data in one place.

Through Cadence University, and the centralisation of CPD training records, the company has the opportunity to track the training each employee undertakes, monitor hours completed, and identify those who may need retraining or updating of their skills.

“You work hard to get your qualification so it is important to keep up to date with your training and keep progressing,” says Karen.

Karen agrees that being a LLL Employer Partner is an extra tool in attracting the best candidates.

“Interviewees for finance positions often ask what training is available within Cadence. We can demonstrate to candidates that career development is a priority and that the company will finance their training and development through Cadence University and our Partnership with the Institute for lifelong learning.”

Gerard reports that the practicalities of going through the application and evaluation process with the ICAI were very simple. There are four stages to becoming an Employer Partner in the scheme:

- Stage 1 is the application stage. - At Stage 2, the application form is reviewed by the ICAI to see if the information provided is in line with ICAI requirements. - Stage 3 is an on-site visit by an ICAI Learning & Development Consultant, and finally - Stage 4 is when the organisation is officially recognised as an ‘ICAI Lifelong Learning Partner’.

In the ever changing and developing Irish corporate world the LLL Employer Partners scheme is another part in developing Ireland’s Companies interested in participating in the Employment Partnership can find more information about the scheme, including an application form, at www.icai.ie/cpd/info_emp_partnership.cfm.