ACCA’s Global Talent Trends report is the most comprehensive survey available of talent and careers in the accountancy profession. More than 10,000 people worldwide took part in the survey, which provides valuable insight into developing trends in recruitment and talent.

The survey will be of particular interest to smaller practices, who often struggle to find and recruit talent.  The 2025 survey results, for example, highlights the entrepreneurial nature of many finance professionals; 46% of respondents who work for a smaller practice say they have ambitions to be an entrepreneur – and this proportion increases in less developed economies. 

The report also reveals that the cost of living is the single biggest concern for survey respondents. One of the impacts of this is a trend for respondents to take on a ‘side hustle’ to supplement their income – just under 40% of all respondents said they were working an additional job. 

It also means that salary levels are a significant concern, which can impact smaller practices that lack the resources of their larger competitors. Among respondents working for SMPs, for example, 63% of respondent said they expected their next role to be outside of their current organisation – with the potential for a higher salary given as the main reason. Money may not be the key motivator for everyone but if salary is not competitive, it could act as a demotivator.

So, what can SMPs do to attract and retain young talent?

The USP of SMPs

The first, and important point to make is that not everyone will be suited to working within an SMP. Typically, in a smaller firm a young finance professional will be advising business owners who may be twice their age – that requires confidence and excellent communication skills.

Large firms can offer bespoke training programmes and clear career pathways but there are many excellent reasons for young people to choose to train with and work for an SMP:

• Smaller firms are more agile in making and implementing decisions, creating a more entrepreneurial environment in which to work.
• Young professionals have genuine influence over decision-making and shaping the future of the organisation.
• Broader exposure to a wider range of service offerings – specialist work is carried out by the client-facing team rather than referred to another department.
• The potential for greater responsibility, including working closely with clients, at an early stage in their career.

Skills and career development

According to the Global Talent Trends survey, almost half of accountants are worried that they are not developing the right skills for the future – and Gen Z are the most concerned of all age groups about the pace of technological change.

The ability of SMPs to pass on responsibility to young finance professionals at an early stage in their career is a major competitive advantage in the recruitment market. Newly qualified accountants in an SMP could have a portfolio of their own clients when their peers in large firms are still junior members of a team. 

A good mentorship system, however, is particularly important – and arguably more suited to SMPs because teams are smaller and work more closely together. 

Young finance professionals also speak of the importance of a clear career path, particularly in the years immediately following qualification, that sets out transparent milestone targets and explanation of what competencies are needed to more to the next stage. 

Hybrid working

The Global Talent Trends report also found that younger people are more likely to work in an office than older employees – among SMPs, 63% of respondents said they were working mainly in-office. 

There is no one-size-fits all solution to hybrid working. In many firms, trainees may spend more time in the office than older employees – partly through choice and partly to ensure that they learn through exposure to more experienced colleagues. Even so, there may still be young professionals whose circumstance mean that they prefer to work remotely as much as possible – and flexibility will be an attractive benefit in a potential employer.

The challenge for SMPs is finding ways to encourage teamwork and nurture organisational culture in a hybrid environment – talent is more likely to stay with an employer if they like the people they work with. The panel discuss a range of techniques in use to build camaraderie, including:

• Reserving some internal communications channels for social discussions, or to celebrate each other’s achievements. 
• Regular company-wide remote catch-up sessions.
• Team in-office days.
• Close mentoring support even when working remotely.

Key takeaways

The discussion raises important lessons for SMPs that are competing for strong next generation talent:

• Your employees are not a cost – invest in your talent.
• Be open and honest. Be clear about what you are offering your employees in terms of a career path and work environment and keep your promises. Expect them to do the same.
• Focus on clear and tailored career planning, feedback and discussion to help young professionals built their careers.
• Purpose, flexibility and progression are real benefits that give SMPs an advantage over other employers. 
• Personal relationships and strong mentoring are the superpower of SMPs.

And finally

In any organisation, happy people create an engaging workplace where others will want to work. That’s why, if someone chooses to leave a firm and they are in a better position than when they joined, the firm has done its job well – and that is something to celebrate