Ep. 128: Laura Boyd - The "Softer" Side of Accounting

Contact Laura Boyd:
https://www.linkedin.com/in/laura-boyd-2598a853/


Hunter Douglas: https://www.hunterdouglas.com/


FULL EPISODE TRANSCRIPTAdam: (00:00)
 Welcome back to Count Me In, IMA's podcast about all things
affecting the accounting and finance world. I'm your host Adam
Larson and this episode, “Business Partners Developing Their Soft
Skills”, is number 128 of our series. Laura Boyd, Vice President,
Corporate Controller at Hunter Douglas joins us to talk about a
topic not addressed enough among accounting professionals, the
softer skills required in the profession. Everyone assumes
accountants are all about the numbers and they are, but without
the ability to collaborate across departments, they cannot be
true business partners to the organization. Keep listening to
hear about the specific soft skills required and how to develop
them throughout your career.


Mitch: (00:51)
So our conversation today is going to focus on the soft skills
and everyone typically assumes accounting and finance
professionals, they're all about the numbers and we know they are
but, I think everyone's starting to realize accounting and
finance professionals really must possess and further develop
these soft skills. So can you kick us off by sharing your
perspective on this and let us know why you think that is?


Laura: (01:14)
Sure. Well, I think technical skills are obviously very important
in our role as accountants and finance professionals. Our ability
to analyze numbers and apply technical financial guidance,
whether it's cost accounting or manufacturing accounting, or U.S.
GAAP, IFRS otherwise goes a long way to supporting success in our
careers. However, too much emphasis or rather not enough emphasis
on developing and possessing these softer skills will really
limit an individual's ability to properly support their business
and develop their career in accounting. When we say softer
skills, what we're really talking about is our communication
style, leadership skills, team building skills, ability to make
decisions, et cetera. Many of these skills are people type skills
or interpersonal skills and since nearly every accounting role
requires engagement with others in some way, shape or form, these
become critical qualities to possess as your career progresses.
In addition, people don't always think of accountants as customer
service professionals, but in some way we are. Our business
partners are our customers. They're on the receiving end of our
hopefully quality work and we have an obligation to not only
support them, but work well with them. And it takes several soft
skills to be able to listen to a business partner and really
collaborate with them. All of these things make finance
professionals more well-rounded partners for the business, which
is what our ultimate goal should be as accounting professionals.
Well-rounded partner is an ally for the organization. If I could
make an accounting pun, a well-rounded business partner is an
asset for the organization. So while the technical side of our
life is incredibly important and critical, it's becoming more and
more clear that the softer skills are just as important for us
and for our business’ success.


Mitch: (03:29)
So you already named a few of them. We talked a little bit about
communication and teamwork and things like that. There are many
soft skills and they're all important. But when it comes to being
a business partner and really taking that step forward as a
leader, which of these soft skills do you believe are most
important for accounting and finance professionals, and why might
that be?


Laura: (03:51)
Well, if you research around there's many resources out there
from many folks that are much smarter than I am that'll tell you
what's most important and why and what the right order is, et
cetera. For me, in my experience, I think the three most
important soft skills are interpersonal skills, communication and
adaptability. So for interpersonal skills that's kind of a broad
category, but it's a very important one. When I say interpersonal
skills, I really mean the ability to build and maintain
relationships and develop rapport with business partners and
colleagues. Having good interpersonal skills is incredibly
important when you're building a team, you need to have a strong
foundation of trust and accountability for accountants and
finance professionals this is invaluable. We should strive to be
seen as an authentic partner for the organization and a person on
whom people can rely upon and trust. Without that, we're just a
bunch of number crunchers. Another important skill I think is
communication. I think many people know there's many types of
communication. There's verbal, written, and nonverbal like body
language, facial expression, et cetera. But I think the one piece
of communication that people really miss is listening. When
people are listening to others, this is a fairly obvious
statement, but you actually hear what people are saying and what
they mean. Without strong listening skills, communication is
really just a one-way street and probably not very effective. The
better finance professionals are at listening, the better we are
business partners because we're that much closer to the pulse of
the business. And then finally I think adaptability is critical.
If we've learned anything from the COVID pandemic, it's that we
need to be flexible and adaptable. Now, traditionally accountants
are not usually the most flexible people and I can say that
because I am one. But, the ability to pivot and react to an
ever-changing environment is critical. Our businesses are making
fast and drastic and dramatic decisions practically every day. So
we have to be able to switch gears and change direction as
needed. In addition, I think it's important to be able to handle
tasks and responsibilities that are a little outside the norm. By
demonstrating a willingness to get involved even if you don't
have all the expertise that's required. It's a changing world and
I think accountants are a smart group of people who can
contribute beyond the numbers if they're willing.


Mitch: (06:57)
You know, we at IMA, we have a leadership academy and we put out
all these leadership development courses and we focus a lot on
these softer skills. We just did one that focused on listening
and listening skills, because it truly is so invaluable to just
take a step back and make sure you're paying attention, you're
listening and really absorbing the message that's being shared.
So I can truly appreciate that and we've seen that become more
and more important with our listeners here, obviously, but, with
the organization as a whole in our members. With these skills,
these skills that you identified as being most important, I guess
my next question for you is when are they really most necessary
or required? You referenced a lot about being a business partner,
demonstrating these skills, at what career stage do you typically
recognize somebody or maybe whether they do or they don't possess
these softer skills?


Laura: (07:51)
Well in reality, these skills are really necessary from day one
of your career. Most people in entry-level accounting roles have
the necessary technical skills to do their job as required, or at
least they have the requisite education beneath them on which
they can build. And in addition, accountants will do continuing
education classes or sit for an exam that gives them some
credentials that are important down the line. And that is all
fine and good and definitely necessary, but the fact of the
matter is most accountants don't possess these softer skills
right out of the gate and that's unfortunate. As I said earlier,
good interpersonal skills are important for accoun...