'SMEs needs to give school-leavers better support'.
CIMA's accessibility is its trademark. And there are strong signs that the options open to prospective students will develop further. The recent protests in the UK against increases in university tuition fees have brought into focus the comparative merits of the "earn and learn" route to a career in business. UK undergraduates may feel that they are in a uniquely challenging situation, but the fact is that students in many countries have to accumulate considerable debt in order to pay their way through university.
But this does not necessarily need to be the case. If a school-leaver has set his/her sights on becoming a management accountant, a more cost-effective option may be to consider a direct route into employment. Many CIMA members gain their qualification by holding down a full-time job and studying in their spare time, so why go to university when you can begin a professional qualification straight from school?
There are at least three advantages to this. Firstly, school-leavers who are aiming for CIMA membership will be more attractive candidates to employers. Secondly, work experience will help with their studies, and finally, most will be paying for their study expenses out of their wages, so they won't have debt worries once they've qualified. Most students may have to save for a while before they can start their studies, but I'd assume this would be a more preferable option for many.
There are signs that school-leavers are already beginning to favour this route. Applications for PwC's direct-entry training programme rose by more than 200 per cent last year and similar schemes are in the pipeline at Deloitte and KPMG. To offer the best of all worlds, CIMA is developing a new study model to enable its students to gain a fast-track degree once they have attained their Advanced Diploma in Management Accounting. I'm sure you will be hearing more about our new distance learning programme with the Manchester Metropolitan University.
My personal experience convinces me that most CIMA members can be part of this shifting training landscape. During the past seven years I have worked in SME businesses and taken the opportunity to employ CIMA trainees. True, a trainee cannot stay forever, but any additional training expense is more than balanced by the greater value added by a questioning mind.
My challenge to all members, whether in small or large organisations, is that they should seek to identify roles that could be filled by CIMA trainees. You'd be surprised by how much they can refresh your memory-and you should be ready to listen and mentor. Trainees are an enormous benefit and in return CIMA members can provide school-leavers with the opportunity to develop their career without the burden of debt at the outset.
George Glass CIMA president
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|Title Annotation:||A word from the president|
|Publication:||Financial Management (UK)|
|Date:||Apr 1, 2011|
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