Ultimately you are the one responsible for your career advancement. Recent surveys show employers are investing less in the training and development on their employees (e.g. 80% of employees state their employer does not offer training, and 86% of workers feel their manager is not skilled in developing employees). Ouch!
The truth is, what got you to where you are now, won’t get you to where you want to be. Achieving your goals and career aspirations will require you obtaining experience, training and certifications different than what you currently have, to move on to the next level. But our personal and professional development is also just not about moving to the next level. You need those thing even in your current role as the world changes and moves forward.
In this episode we discuss results from a recent survey and steps you can take to determine what you need to get where you want to go.
To listen and for complete show notes and links to downloads, visit: http://www.jasonmefford.com/jammingwithjason/
To download and read the survey mentioned in this episode: Pulse of the American Worker: Special Report – The Future of Work, Career Expectations and Skills: http://news.prudential.com/presskits/pulse-american-worker-special-report.htm
To fill out your application for membership in the Chief Audit Executive (CAE) Forum visit: http://bit.ly/cae-forum-join The open enrollment period is only open until Friday, 13 September 2019, so get your application submitted today or you’ll have to wait until the next open enrollment period.
If you are ready to start investing in yourself, check out the technical and soft-skill training options through cRisk Academy, the #1 on-demand and webinar training platform for internal auditors. They offer video courses and certification from one hour to multiple day-formats, and you receive a CPE certificate for each training.
cRisk Academy On-Demand Training: https://ondemand.criskacademy.com/
cRisk Academy Webinars: https://www.bigmarker.com/communities/crisk-academy/conferences
cRisk Academy Website: https://criskacademy.com/
The #1 #internalauditpodcast in the world has interviews and discussions (jam sessions) relevant to Chief Audit Executives and professionals in #internalaudit, risk management, and compliance.
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Welcome to another episode of jamming with Jason Hey welcome back everybody. I’m glad to be here with you. And today, one of the things that I’ve been researching recently there was a new survey that came out. It’s called The Future of Work career expectations and skills.
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And so I’ve just been doing some research kind of about the future of work, how that might relate to
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You know professionals and internal audit risk and compliance and so I wanted to go through and share with you some things that I am kind of learning from that.
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And where I kind of see this going in our profession. So today is going to be a little bit more kind of about professional development about thinking about your career.
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And where you want to go because there’s there’s lots of different career paths for you to go in internal audit.
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And in you know it’s it’s really good for you to actually kind of think about this, be proactive see some of the things that are going on.
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So that you can get to where you want to get. So, this episode is titled What got you here won’t get you there. And we’re going to talk about that because that really is true what what it took to get to where you’re currently at
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Is not going to help you get to where you want to be in the future. So you’re going to have to do some things a little bit differently. And that’s what we’re going to talk about today.
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So before we get started. This episode is actually sponsored by see risk Academy. Now see rescue Academy is the number one on demand and webinar training platform.
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For internal auditors. So they’re specifically targeted pretty much all of their trainings are things that are relevant for internal auditors.
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And like I said, they provide on demand courses. And so what that means is it’s online, you can go out and take the courses.
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When you have time, so you don’t have to necessarily show up at a certain time or place. You don’t have to travel. You could do it even some of the stuff on the way to and from work.
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Because everything is online so that it really is training that you can access anytime, anywhere. And on any device.
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So you can even do it on your phone to and from work if you needed to now. They also offer webinars as well. Those do obviously require a time and date for you to show up.
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But most of their webinars are actually free so make sure and check it out. Like I said, they’ve got online courses and are also developing some certification courses.
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Which means that when you finish the training and take the test, you can actually obtain another certificate
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To be able to help you in your career. So again, check out see risk Academy. You can find them at see risk Academy com and that see the letter C and then risk academy.com and I’ll make sure and link that up in the show notes below.
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Now as I go through the and want to talk. Let me, let me talk a little bit first here about about this survey and then, like I said, well, we’ll kind of tie this back into
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How this relates to professionals in internal audit risk and compliance and what some of the things are that you can start doing now to be able to prepare for the future of work. Okay. Because every so often there are kind of systematic changes that happen in the workforce.
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In the workplace, the type of work that we’re doing and things like that. And if you want to be prepared for those changes. You have to actually start preparing
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Before the changes happen that way you’re going to be prepared when these things happen while everybody else at that point is kind of sprinting and trying to catch up at that particular point.
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So in in this survey, I’ma talk a little bit about kind of both sides of it so so kind of from an employee standpoint.
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So those of you. I mean, everybody’s an employee of some kind, but also I’ll bring up a few things from the managers perspective as well.
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Because this is something if you’re managing people that you also need to be thinking about this, because you’re going to need to start doing some things differently.
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To be able to prepare for the future, if you want to keep people around working for you. So the first thing that I found very, very interesting from this survey.
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And again, I’ll leave, I’ll leave links in the show notes as well. So you can go back and actually download it and read through this yourself. If you’d like to
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But one of the things that was very interesting to me is the employees that took this survey.
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They said that if they were to change jobs only 13% of them would try to find a new job in the same organization where they are at
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So that means that if people leave, they’re probably going to leave your organization 80% 87% of the people. Right. So the flip side of that is 87% of the people.
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When they are looking for a new job, they’re not going to be considering their current company.
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So from a manager perspective again, you need to start thinking about that. Why is it that people would not want to stay in the organization.
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And I’m guessing you know, again, I’m doing some more research about that, but I’m guessing it’s because the employees probably either don’t feel like they’re being treated fairly in the particular job. And so they want to try a different organization, hoping that it will treat them better.
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Or maybe they see themselves as kind of being limited in the company where they are currently at
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Now, one of the reasons why people leave. And again, this is important from the employer standpoint, the number one reason why people
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Want to leave their current job is they want more of a flexible work schedule. And so again, if you’re an employer. That’s not providing that to people.
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About 50% of the people. That’s the reason why they would end up leaving to go to another place. It’s not because of more money. It’s because they want some more flexibility.
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In that in fact about 25% of the people said that they would actually take a pay cut to be able to have better work life balance.
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So now if we get in and talk a little bit more kind of from the employee perspective, right.
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What are some of these things that are changing in the future. Some of the things that you’re going to need to do different
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If you want to get to a different point in your career going forward because like I said what got you here won’t get you there.
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So if you if you stop and think about, kind of, you know, maybe the experience or the training or the certifications that you might have so far.
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That’s what got you to this current job and you may be working on some of those things right now again with the idea of being able to move to a different role.
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But if you haven’t really kind of gone through that or thought about that, you really should take some time and figure out, you know. Am I happy doing what I’m doing now.
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Or do I want something different. Okay. And actually, yesterday I was talking to a gentleman, he spent a lot of his career in internal audit in the it audit space.
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And he moved around to some different companies kept kind of moving up but he got to that point.
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Where he was the manager and an internal audit the internal audit departments and realized it was going to be difficult for him to move up to that next director or CAE level.
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Because he was not seeing anybody that was an IT auditor that was getting promoted to the chief audit executive standpoint.
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So at that point, he had to make a decision for himself on. Where did he want his career to go and he chose instead to say, Okay, I’m going to go outside of audit and I’m going to move into information security compliance because that was. It was a good
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skill set change for him. He already had a lot of the the technical experience behind it and it allowed him. Like I said to move outside of audit.
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Into a role of greater responsibility, but also have greater money as well. And so for him. That’s actually working out well.
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Now let’s let’s rewind that a little bit. And let’s pretend for a minute that you know I’m that person and I look at it and I say, you know what I think I want to get outside of audit. I want to move into compliance.
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At that point, I could start looking at myself looking at my experience, looking at the training that I’d received. Look at the certifications that I have
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And decide what do I need to do to try to get one of those jobs in information security compliance.
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And so you can almost sit down and do a little gap analysis for yourself and say, well, okay, I understand how to audit. I understand the it area.
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Maybe I should understand more about compliance and so maybe I need to go get some training on compliance. Maybe I should consider getting a certification.
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In compliance something that is going to make me more attractive to the next organization or even to my current organization if I’m looking to move to another position. So that’s kind of the, the, the
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Sort of exercise that everybody should go through
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From currently kind of a career planning perspective. Now, when you’re thinking about that. And this is where it kind of comes back to
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Like it said some of this self improvement self development kind of stuff that we’re talking about today is where or what kind of skills. Do we need and so broadly, you can think about, well, there’s technical skills, those things that actually helped me to technically perform my job.
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But there’s also things called soft skills. Those are things
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You know, again, like emotional intelligence adaptability, your written and verbal communication skills and all of those things are becoming more and more important. In fact, you know, in the past where technical skills, used to be the thing that got you the job.
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More and more now those soft skills are being seen as more important and employers are looking for those soft skills.
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In fact, in a lot of industries, you know, this goes kind of outside of internal audit risk and compliance, but we’re trying to, again, see what’s going on outside in the world.
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And try to figure out how that might impact us, but there are a lot of employers now that are not even really looking at the technical skills that people have
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They’re hiring people based on attitude based on their values based on their cultural fit in the organization.
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And then the organization at that point then teaches those people the technical skills.
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So, you know, again, if you if you are an employer. If you’re someone who is a manager of people that may be one of the trends, like I said, that we’re seeing that you may want to start considering
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In hiring people yourself. So the technical skills are usually easier to learn than some of the soft skills or other specialized skills.
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And so I use this a lot in in some of the trainings that I’ve done over the years is, you know, as an example, let’s pretend that I am
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A hospital. I’m the CEO of a hospital and some of the technical skills that I probably should have would be related to healthcare and
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Medical in general, so it’s easier for me to hire someone who has been trained maybe as an emergency response person.
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Or as a nurse and hire those people and then teach them how to audit, it’s going to be easier for me to teach them the technical skills of how to audit.
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Then it would be to hire someone who is already technically skilled in auditing and then try to teach them all of those medical things
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And so that’s why, again, one of the trends that we’re seeing is more and more experienced people being brought into you know audit risk and compliance areas.
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That their, their technical expertise and experiences in a different place, but then they’re being taught those particular skills.
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So, you know, again, as you’re thinking about this, you know, I want you to as your as you’re kind of coming up with or thinking about your plan for how you’re going to improve yourself. You really have to be thinking about soft skills.
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Is may get a little frog in my throat today.
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So don’t just focus on the technical also look at being able to improve your soft skills as well.
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Now, when we go back and think again about, you know, some more stuff from the survey here.
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There there happens to be, again, some more interesting information about how managers are not really living up to the workers expectations.
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And so as an example. Right. There’s about 86% of people so 86% of a lot of people are saying that their managers are not skilled in developing their employees.
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And so again, those employees are looking for opportunities to develop themselves, but they don’t feel like they’re getting that support from their managers. And so from this, we really kind of learn two things.
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If you’re a manager start providing more support to your people and helping to develop them.
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If you are an employee and you realize that your manager is not providing that you can ask for help and hope that they they come along and actually provide that to you. But if they don’t, here’s the reality.
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If your manager isn’t helping you develop yourself, you still need to take responsibility.
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And manage it yourself. So if that means, again, if your employer is not supporting you and maybe getting training.
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Then you still need to get the training if they’re not going to pay for it, then you need to pay for it.
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If they’re not giving you time, you know, during your workday to do some of the training, then you need to find the time outside of your work day and make it a priority.
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For you to be able to do that. Now let me give you an example on that I teach a lot of people on the certified internal auditor exams, so they can get their ca certification.
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And a lot of people’s employers are not supporting them or paying for that, which to me is kind of crazy in the first place because it’s a it’s a technical skill set and certification.
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That directly applies to the job being done. But regardless, here’s the reality. And this is what I see is people that are successful.
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And passing the exam, are those who take it seriously and who actually block out the time, you know, pay their own money if they need to, to be able to get a higher quality course.
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And then are committed to actually doing what they need to do outside of work to be able to get that certification. Now here’s the reality to right as if your employers not supporting you in that
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You know, it’s still supporting your career and long term again those investments in the short and mid term will have a huge, huge impact to you going forward. So as an example, let’s say,
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You know, again, you’re a senior and you’re and you’re being, you know, pushed up against you can’t become manager until you get your CIA certification as an example.
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Well, if you look at that and say well, gee, it’s going to take me a lot of time and a lot of, you know, some money investment for me to be able to do that.
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But here’s the reality right you pass the exam if you don’t get promoted up or can’t get promoted up in your current organization it now allows you to, you know, be marketable.
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To be able to move into a manager role potentially at another organization. So what does that mean
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Well, a lot of times the jump between senior and manager can be 20 or $30,000 a year, at least in compensation. So if you do the work. If you put in the time if you put in the money.
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To be able to actually pass that and develop yourself. It’s going to pay for itself down the road. So again, let’s just pretend it’s $30,000 of a bump.
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You are in that position for the next 10 years that time and money that you invested in yourself, has a $300,000 you know future cash flow to it.
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So it’s a big deal. And it makes a huge, huge impact in people’s career but it means, again, you have to be the one who is responsible and takes accountability for that and goes out and does it
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If your employer’s not supporting you in it, you still need to do it. If that’s where you want to go. Okay, remember what got you here.
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Won’t get you there. And so if there’s some other place you want to get you have to figure out, and you have to do things different to be able to get to that next position.
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Okay, so kind of moving on here, you know. Couple of other things here from from this, you know, we talked about employers, sometimes not being supportive
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In fact, from this survey 20% of the people said that their employer is not offering training options, right, which means that 80% of people are not providing training for their employees.
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So again, the reality is often you’re going to have to be on your own and just take care of it yourself.
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Now the training that actually is offered is usually more compliance required. So that’s things like you know I have to do my two hours of ethics training every year.
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And that’s the training that employees are providing not the training that’s actually going to help people to do their job better
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So even though companies are investing in training. Often the training is more compliance in nature and doesn’t actually really help to develop the employee.
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So, you know, again, some things for you to be considering. And in thinking about as you’re moving forward in your career because like I said what got you here.
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To your to wherever your current position is is not going to get you to that next place if you want to get to the next place you’re going to have to start doing some things differently.
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And that, again, like, like I said, is going to be some things you’re not used to it might be some things you’re uncomfortable with
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It might mean that you have to end up investing some of your own time and your own money in order to be able to do that.
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But that’s, again, that is part of what needs to be done for you to be able to move forward in your career and get to where you ultimately want to be
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So again, hope that was helpful, like I said. Today’s episode is sponsored by see risk Academy
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If training and certification or things that you feel like you need to accomplish or you need to do in your organization in your personal development.
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Check them out because like I said, they have both technical and soft skills that are targeted specifically for internal auditors.
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But also, most of it is relevant for risk and compliance professionals as well. So check it out and and move forward in your career. Think about where you want to go and stop and make your plan to make sure that you can get there and I’ll see you on a future episode of jamming with Jason