Mark Lewis, managing director of Rutherford Cross
Scotland’s economy is going through significant changes. The recently announced national plan to train workers for employment in the clean energy sector, which is expected to create 40,000 new jobs over the next five years, underlines the scale and depth of the impact these are having on the workforce.
Nowhere is that more obvious than in Aberdeen, where the bedrock of the city’s economy has largely been tied to oil and gas for decades – an industry itself undergoing transformation, amid an uncertain policy backdrop and the transition towards greener sources of energy.
While that inevitably creates challenges for the Granite City and its workforce, new sectors are coming to the fore. Some are still related to what is happening in the energy industry – with renewables companies, technical support, and decommissioning among the most notable – but Aberdeen is carving out a name for itself in other areas: life sciences, agri-tech, and digital to name just a few examples.
Many of the companies in these sectors are small and medium-sized enterprises (SMEs). They may not be the same size as international oil and gas companies – and with that, be able to afford similar salaries – but many have high growth potential and are being particularly impacted by Scotland’s key demographic challenges, including some of the highest retiral and sickness rates in the UK.
All of these factors inevitably have a knock-on effect for the jobs market. And that was certainly the theme of a recent session we held with the Chartered Institute of Management Accountants (CIMA) in Aberdeen, hearing from financial professionals at different stages of their career about the challenges and opportunities they currently face, with many considering moves from oil and gas into other sectors.
Making that change can seem a complex process – you have to start again in terms of your industry-specific expertise, connections, and knowledge of the companies in the sector. The advantage professions such as accountancy have is that their fundamental expertise and skills are transferable, but there are a range of other ways they can make the process more straightforward.
Firstly, if you are serious about a role in a new industry or location, show willingness to find out more. Meet people in person, build relationships, and invest in your network. Use your own contacts as well as your connections’, tap into professional bodies, attend industry events, and speak to recruitment firms.
Take the opportunity to assess your own position and circumstances. Audit your skills and identify any gaps – accreditation from a body like CIMA provides a level of assurance to an organisation in any sector of your professional capabilities, which may help with moving into a new area.
At the same time, consider whether any industries are closely aligned with your current role, such as moving from an oil and gas company to an employer focused on renewable energy, and look at ways to build knowledge about new sectors. Research the types of organisations you would want to work for and look at the best way to connect with them.
With AI performing repetitive tasks, try to showcase your qualities that are at little risk of automation. Employers want to see alignment with their purpose and values, providing assurance that an individual will ‘fit’ within their organisation. They are also placing a premium on strategically and technologically-minded individuals, who can spot the commercial opportunities AI and automation are offering.
Attitude has become as much of an asset as aptitude in a jobs market that, while challenging, undoubtedly still has many opportunities for skilled professionals. Being as flexible, adaptable, and as positive as possible will put you in the best position to navigate the current situation – whatever your background – and help with your career transition into a new sector.
