Can you empathise?There is an increasing spotlight on how political leaders and their teams balance their competencies in such complex discussions. The art of diplomacy and deal-making is not just the domain of global politicians, business leaders and policymakers. We all have to negotiate on a daily basis – with our peers, our teams, with suppliers, and with customers. And for those working in accountancy and finance, the ability to negotiate successfully using empathy is a must in an age when budgets and the bottom line are under scrutiny.
Emotion in a digital ageTo the casual observer, emotions and accountancy can seem like unrelated concepts. But to succeed in an era of increasing digitisation, today’s professional accountants need recognise the importance of this valuable human quality that’s notably difficult for machines to replicate.
Emotional intelligence is the ability to identify your own emotions and those of others, harness and apply them to tasks, and regulate and manage them. Our latest ACCA research into this capability, the report Emotional Quotient in a Digital Age, identifies emotional intelligence as a key skill for developing the accountancy profession, particularly in a fast-evolving digital age. Ultimately, professional accountants need a rounded set of skills that go beyond the technical knowledge expected of them. In 2016, our research (entitled Professional Accountants – The Future: Drivers of Change and Future Skills) identified that finance professionals will increasingly need a broad blend of capabilities to succeed. Intellect, creativity, emotional intelligence, vision, experience, mastery of the digital world, and technical and ethical skills are the seven key sought-after skills areas we isolated that employers are seeking today and in the decade ahead. Collectively, these seven distinctive attributes come together to create the optimum blend of technical knowledge, skills and abilities the profession will need to be able to deploy.