With the average person working over 90,000 hours during their lifetime, spending some time understanding the corporate landscape – and where you would fit in – can prove a worthwhile investment writes Ed Heffernan.
Successful careers don’t just happen. If you look at some of the biggest names in the world of finance, you can be certain that they planned their career progression meticulously and are clear on their future direction – even if they won’t admit it themselves.
While there is a wealth of material available to graduates, job-hunters and talent managers, it often overlooks the key consideration for those who wish to cultivate a career rather than simply land a job: corporate landscape.
Looks can be deceiving
When embarking on your career – or a career change – it is vital that you understand your target firms’ organisational structures and where you might sit within them.
When it comes to accountancy in particular, you need to invest time in understanding the organisation and role as looks can be deceiving. For example, an accountant with a strong interest in pharmaceuticals might think – at a first glance – that Pfizer Global Financial Solutions Europe in Dublin would be a good match.
However, that particular site is essentially a shared services centre with a focus on “arm’s length” financial accounting. The candidate might therefore be better suited to a role in the company’s Grange Castle site, which has a strong emphasis on management accounting and more opportunity to engage with the product and business teams.
The type of organisation you choose will also abide by certain rules and regulations such as IFRS, US GAAP or UK GAAP, for example, and will use specific software platforms ranging from ‘off the shelf’ programmes like Sage or TAS Books in smaller companies to more sophisticated packages like SAP, Oracle or ERP Systems in large multinational firms.
If you begin working in a small firm, you will gain experience with certain accounting processes and IT platforms — something that will make you more applicable to an environment with similar processes and platforms when applying for other roles. Prospective employers generally seek system, process and task specialists that will hit the ground running.
Avoid being pigeon-holed
Assessing the five main types of organisational structure (refer to the panel on the right), understanding the roles involved and gaining clarity on the potential for growth and development within an organisation isn’t easy. However, it is a worthwhile endeavour that can give you more options if you ultimately end up moving externally. People can get trapped in an organisational structure very early on in their careers without realising it. Best to be informed on the impact today’s decision will have on tomorrow’s options.
So, how should you go about understanding the corporate landscape of a particular company and where you might fit in? The first step is to utilise your network. Begin by researching the company online and identifying those within the organisation with the same qualification as you through LinkedIn or other connections. Also, Identify and approach key people for their perspective on the company and its structure – but be sure to have a sufficiently large sample size to minimise bias.
Plan your path
Behind this entire process is one simple premise – as an accountant, it is extremely difficult to move from a small company to a large multinational. The skillsets are different and the IT platforms increase in sophistication in line with the size of the organisation. It is easier to move in the other direction, however.
It is not impossible to access new organisational structures but doing so requires careful planning, patience and tempered salary expectations. Different organisations often have common commercial drivers, and a job-hunter could emphasise these commonalities during the process. If a larger stretch is required – moving from a small practice to a shared service centre, for example – you will need to create a development plan that will enhance your core competencies and bring you gradually closer to where you want to be.
Ed Heffernan is co-founder and partner at Barden. This article is an excerpt from Career Guide 2016, which was produced in association with Barden.