Baby boomers are retiring at an alarming rate. This means that more and more younger people are going to be needed for professions like accounting and finance. So many experienced people leaving the work force could provide some real benefits but aslo pose some problems to finance. Millenials grew up with the internet. They are comfortable working with various software and don’t mind trying new things. However, they are also more likely to text their friends than talk to them, which has resulted in less advanced communication skills.
Why Finance Pros Need to Communicate
Before a young person can succeed in this industry, they need to know how to communicate effectively. Accountants may primarily work with numbers but there are real people behind those numbers. Clients go to accountants for help reducing their tax burden so they can retire comfortably. They may also go to a financial professional for advice before they sell a home or other assets. People who take the jobs accounting and finance jobs St. Louis seniors have vacated need to be able to express empathy to their clients. This may not come naturally but it can be taught through mentoring.
The Value of Mentoring
Experienced financial professionals make the best mentors because they not only understand the technical aspects of their jobs, they know how to communicate with clients. A mentor could help a recent graduate learn the right questions to ask a client and when it’s time to listen rather than talk. Having these skills will benefit a young professional no matter which career path they choose but they are especially helpful in finance. Communication skills help accountants retain clients as well as get referrals from current clients who are happy with the service they receive.
Although baby boomers may be anxious to retire, they can ensure the industry maintains the same standards by helping the new generation improve their communication skills. By mentoring young people, seniors may accept that the company will thrive without their lengthy experience and expertise. With good communication skills, the knowledge they gained in college and their natural aptitude for computers, millenials are ideally suited for the accounting and finance industries.