Generation Y: Young Accountants Challenge Employers for Dynamic Careers

More Than Half of Young Finance Professionals Seek to use Their Finance Training in Broader Business Careers

LONDON, August 2, 2010 - The young finance professional of the 21st century has a confident and
clear vision of their career progression, demands job security and is
motivated by money, finds new research from ACCA (the Association of
Chartered Certified Accountants) and Mercer, the human resource consultancy.

The research - called Generation Y: Realising the potential - shows a
generation of young finance professionals seeking aspirational and dynamic
career paths, both inside and outside traditional mainstream finance careers.

It presents a wake up call to employers of finance professionals to
embrace the career aspirations of the youngest generation and offer dynamic
career routes that capitalise on their finance skills, or risk losing future
talent.

Over 3,200 individuals* responded to the research, from 122 countries
around the world, making this one of the biggest ever studies of the youngest
generation presently in the workforce. Leading global organisations were also
interviewed to provide unique insights into managing this generation
effectively, including RSM Tenon, Santander, UK Government Finance
Profession, Pannell Kerr Forster, Hays, Aviva, KPMG, Unilever and the UK's
National Health Service.

While the survey reports that most Gen Y finance professionals suggest
they are satisfied with their current role, concerns are expressed regarding
the future, with half suggesting their organisation is not able to offer them
sufficient career development opportunities.

Jamie Lyon, from ACCA, and co-author of the report, says: "Generation Y
finance professionals are smart operators. Our survey suggests they are hard
working, but they want quick and transparent rewards. In the future, we know
many businesses will need a blend of employees, some staying in traditional
finance careers, and others taking their finance skills into broader areas
outside mainstream finance roles. The good news is that this is what
Generation Y wants too - they rightly see the accountancy qualification as a
great step to a broader-based business career….but for the employer,
providing more diverse career paths in the timescales demanded is a big
challenge. Managing the career expectations of Generation Y and being
transparent about career development will be key to delivering on the career
promise. If employers get this wrong, there's a significant retention risk,
particularly if global economic conditions start improving."

Chris Johnson, UK Head of Human Capital at Mercer says: "In an
ever-changing competitive environment, the one constant seems to be the war
for talent, and one of the most critical talent pools is Generation Y.
Companies are aware that to be considered "an employer of choice" by the most
recent generation they have to find new ways to attract and retain talent.

"Generation Y employees around the globe are taking their careers into
their own hands and focusing on their prospects for development to ensure
their own career progression. This has implications for the way the finance
profession builds its talent pipeline and how organisations should attract,
develop and retain their young finance talent.

Other key findings from the research reveal the following:

    - Money matters: Remuneration is important to this age group
    and they seek out competitive packages. But they also want a good
    contractual package - they want money, work-life balance, and they want
    to work for an attractive brand that reflects their own values.

    - Experiential learning is crucial: Employers and Gen Y
    themselves see experiential learning as key to developing the skills
    required of today's finance professional. Face to face learning still
    resonates with this generation and they are less reliant on e-learning
    than may have been previously thought. Organisations need to develop a
    wide range of learning opportunities to engage this generation
    successfully.

    - Be attractive, be different: Employers need to put career
    development at the heart of their proposition to make them attractive to
    Generation Y. Contrary to popular perception, the survey shows this is a
    generation who value job security but are prepared to leave if career
    promises are not fulfilled.

Chris Johnson adds: "Value creation is key for organisations in the
future. Increasingly, human capital will be the primary source of competitive
differentiation. Its value will be created by people, ideas and the brand of
the organisation. Organisations will need to think creatively about how they
can offer roles and greater career path variation to benefit from this talent
and drive value."

Jamie Lyon from ACCA concludes: "As our report shows, this is an uber
confident generation, who value security, but who are equally prepared to
walk away if their career path is not being delivered. They are a demanding
generation to manage, but ACCA and Mercer believe that if employers can offer
them interesting careers, and get the career proposition right, this
generation can offer a wealth of untapped talent that is waiting to be
unleashed."

Notes to Editors

* ACCA members and students born in or after 1980, working in the a
finance or accountancy related role for the past 12 months

About ACCA: ACCA (the Association of Chartered Certified Accountants) is
the global body for professional accountants. We aim to offer
business-relevant, first-choice qualifications to people of application,
ability and ambition around the world who seek a rewarding career in
accountancy, finance and management.

About Mercer: Mercer is a leading global provider of consulting,
outsourcing and investment services. Mercer works with clients to solve their
most complex benefit and human capital issues, designing and helping manage
health, retirement and other benefits. It is a leader in benefit outsourcing.
Mercer's investment services include investment consulting and multi-manager
investment management. Mercer's 18,000 employees are based in more than 40
countries. The company is a wholly owned subsidiary of Marsh & McLennan
Companies, Inc., which lists its stock (ticker symbol: MMC) on the New York,
Chicago and London stock exchanges. For more information, visit
www.mercer.com

The report can be downloaded from:
www.accaglobal.com/accountants_business
www.accaglobal.com/pubs/accountants_business/research_opinion/human_ca
pital/generation_y_report.pdf

(Due to the length of this URL, it may be necessary to copy and paste
this hyperlink into your Internet browser's URL address field. Remove the
space if one exists.)

    For further information, please contact:

    Laura Strong, ACCA Newsroom
    +44(0)20-7462-8921
    lstrong@ruderfinn.co.uk

For further information, please contact: Laura Strong, ACCA Newsroom, +44(0)20-7462-8921, lstrong at ruderfinn.co.uk