While remote and hybrid working offers employees better work-life balance, it does little for their career development, with a recent Office for National Statistics survey revealing that 78% of respondents report a better work-life balance from out-of-office working but only 7% believe it brings more career opportunities.

Addressing the need to refocus career development in what is a new home-working world was the basis for the first event in ACCA’s Talking Financial Services series of online discussions, ‘Developing Talent in a Hybrid World: Cultivating Skills Beyond Boundaries’, held in October 2024.

Kelly Magee, head of learning and development at Acorn Insurance, introduced the event and was the moderator for a panel consisting of: Kyle Tyrrell, CFO at Acorn Insurance and ACCA financial services panel chair; Louise Morriss, managing director at Zedra Group and ACCA financial services panel member; and Chelsea Shelley, head of member engagement at ACCA.

The panel were asked about the challenges and opportunities presented by a hybrid environment, and for insights into their own development journeys, the role of leaders in career development and what initiatives have worked for them in their personal development and within their organisations.

Career priorities

According to an audience poll at the event about which trends were most important for their career development, 39% of respondents put networking first, followed by skills development, opportunities to learn, coaching from their manager and finally, mentorship.

A second poll of the audience revealed that conversations with their manager about respondents’ development take place monthly for just 20%, and quarterly for 15%. For most, though, the frequency is either annual (50%), while for 15% no such discussions ever take place.

Shared responsibility

The panel discussion concluded that in today’s evolving hybrid work environment, career development is a shared responsibility between individuals and the employer. Both parties must engage actively to ensure growth and progress. While the core principles of career development remain largely the same as in traditional office settings, thoughtful adaptation to the hybrid model is required. With visibility and connection harder to maintain in a remote setting, it is more important than ever to have proactive communication and for employees to take the initiative to ask for opportunities.

Creating strong networks and leveraging technology effectively are essential to this process. Networking continues to play a pivotal role, but its methods must evolve to suit the hybrid landscape, where both virtual and in-person connections are key. Regular, meaningful career conversations – more frequent than just annual reviews – are vital to ensure ongoing development. Employees should take the lead in initiating these discussions, while leaders must facilitate an environment that supports open dialogue about career paths, confidence and personal growth.

While hybrid work strategies are still evolving, with room for new ideas and improvements, the underlying message is clear. Career development requires a balance of individual initiative and organisational support, with both sides adapting to the opportunities and challenges of this new way of working. Tailored development plans, focusing on enhancing current performance while addressing individual needs, remain critical in fostering talent and career growth in a changing landscape.