While workplace and formal learning are central to CPD, there are other effective ways members can augment their professional growth.

Acuity asked two career professionals to suggest alternative ways CAs can boost their learning and career trajectories.

Michael Edelstein is a Sydney-based accounting recruitment specialist and founder of Recruitment Expert.

Karen Stein is an executive coach with more than 30 years’ experience in the professional services industry, including as a partner at Deloitte and author of the award-winning book, Be Your Own Leadership Coach: Self-Coaching Strategies to Lead Your Way.

Here’s what they recommend.

1. Identify your skill gaps and goals

In fast-paced environments, it’s all too easy to fall into a reactive mode – letting immediate demands dictate your professional development choices, instead of following a strategic plan, says Stein.

“Taking time to reflect on what energises you, where you’re growing and the impact you hope to have is a powerful habit. Think about who you want to be, rather than what you do.”

She recommends comparing your current role description with a future role you aspire to.

“Assess how you’re performing against those criteria and where you need to grow. This can help you pinpoint where to focus your development.”

2. Start mentoring

Edelstein says the old adage, ‘In learning you will teach, and in teaching you will learn’, encapsulates the benefits of mentoring.

“Imparting your knowledge not only solidifies your understanding of the subject matter but also leads to personal growth as a leader, teacher and great collaborator, while expanding your network.”

He says there is always someone more junior than you to take under your wing and the more senior you are, the more impact you’re likely to have.

However, he offers a word of caution: choose your mentees carefully.

“Only pair up with enthusiastic, high-achieving and ambitious people, as anyone else will feel like a waste of your time and you will quickly lose enthusiasm when they lack professionalism.”

3. Become a mentee

A mentor can be as valuable as a cheat sheet or an eye-opening book, says Edelstein.

“If you do it properly, it will be a shortcut to success. Different mentors will help with different aspects [of your career]. Some might be great leaders, others brilliant technicians, problem solvers or good at networking, so choose an area you wish to excel in and find someone you respect that’s willing to mentor you.”

He says mentees should be prepared to work and can start by researching their potential mentor: their life, company and career trajectory.

“Come prepared, make notes, ask lots of questions, take their advice and action it.”

4. Network

Stein says networking offers two big benefits. The first is that it gives you exposure to people with adjacent expertise, which can lead to collaboration, diverse thinking and better problem solving. “You will build your professional skills considerably,” she says.

Secondly, it increases your visibility.

“When others know what you do and why, they’re more likely to bring you opportunities that match or grow your skills.”

Stein says every conversation is a chance to learn something new about your industry, your clients or yourself. She recommends cultivating a curious, positive mindset to gain the most from each interaction and asking yourself, ‘What did I learn from that conversation?’.

“Look for opportunities that challenge your thinking and broaden your perspectives, such as industry events, alumni networks or internal cross-functional groups,” Stein suggests. “Choose selectively to make the best use of your time.”

5. Volunteer

Many accountants give back by sitting on boards for not-for-profits – using their finance skills, mentoring people, or teaching budgeting and accounting skills to add value, says Edelstein.

“These opportunities look great on your CV, expose you to more people, more opportunities and allow you to feel good about your chosen profession and skills. But they also build your confidence in dealing with governance and risk issues, marketing, fundraising and just general stakeholder management.”

He says new NFPs are popping up every day and they can all use an accountant to guide them. “A lot of life is serendipity, so the more things and people you are exposed to, the more incredible opportunities will come your way.”

6. Contributing to the industry

There are many ways of getting your name out there, says Edelstein.

“Once you have some real-life experience and credibility, contributing to industry publications and speaking at events is a natural extension of being a mentor – you’re just sharing one to many, instead of one to one.”

7. Think outside the box

Edelstein recommends joining a Toastmasters group “for public speaking skills and networking, and for the amount of fun you’ll have”.

“I also strongly encourage people to try an improv course,” he adds. “It teaches you to think on your feet.”

Meanwhile, Stein recommends professionals take advantage of the huge range of flexible learning options available, from podcasts and articles to live online courses.

“Ask yourself, ‘What’s my preferred learning style?’. That should guide your selection.”

Professional development isn’t one-size-fits-all, Stein adds. “It’s most powerful when it’s personal, intentional and integrated into how you work, not just what you learn.”