With the advent of artifi cial intelligence and automation on the near horizon, we are seeing fewer routine administrative tasks, less repetitive manual labour jobs, and fewer fulltime, traditional positions that require just one skill set. "For this reason, millennials should be flexible and have the ability to keep learning new and different skills in order to stay ahead of the future workplace revolution," says Dr. Aidan Goddard, council member of the Chartered Institute of Management Accountants (CIMA).

As the past chairman of CIMA's North Asia Regional Board and Hong Kong Branch Committee, Dr. Goddard has held several senior positions such as director, CFO and COO, finance director, company secretary and portfolio controller, and head of finance at many different companies across Asia-Pacific, Hong Kong, USA, Switzerland, Germany and the UK. In addition, he has been a lecturer at PolyU SPEED, teaching law, accounting and finance, and is an external advisor for both Hong Kong Polytechnic University and the Department of Accountancy at City University of Hong Kong.

Having a solid work background in fi nance, supply chain, IT, as well as human resources areas together with his extensive teaching experience, Dr. Goddard knows well the strengths and weaknesses of the today's younger generation in Hong Kong. Embracing this new era, Dr. Goddard points out the importance of having good social soft skills, particularly in terms of learning capabilities.

Learn How to Learn
Dr. Goddard says - "When I taught at different higher education institutions, I used to ask the students: 'What do you really learn in your studies?' 'Why are you here?' 'What is your purpose of coming to this university?' Most of them could only answer about learning particular subject matters like marketing, accountancy, or other subjects. In fact, university students have to learn how to learn for a lifetime. However, many students just couldn't make that connection."

While Dr. Goddard was working as director in the Hong Kong offi ce of an international cosmetics and skincare group, he recruited and interviewed young candidates who applied for the company's marketing posts. He was surprised to find that many interviewees even though they had graduated with a marketing major, didn't know much about marketing functions or even remembered any guru of this fi eld such as Philip Kotler.

"I think many young people haven't gained enough knowledge because they are not used to reading books," says Dr. Goddard. "When they start preparing to join the workplace after graduation, I can tell that their knowledge base is quite narrow and not deep enough. So they ultimately don't make a good impression during interviews."

Enhance Brainpower by Reading Books
He understands that most students have heavy workloads in primary and secondary school studies with the aim of getting good grades, but they aren't encouraged to read books. "Parents in Hong Kong should take the pressure off their kids and let them feel that learning is a pleasurable activity rather than being a harsh, cumbersome duty or obligation."

Dr. Goddard advises on the right approach to reading a textbook. He explains - "You have to read it four times. Read it fast the first time. Next read it slowly and do some note-taking. Afterward, read it even more slowly and jot down more extensive notes the third time. Finally fi nish with a fourth reading. In this way, you can get 70 to 80% of the knowledge from the book." He emphasises that reading can help bolster our brainpower, exercise our memory and enhance our ability to learn at a faster pace.

Invest in the Potential of Employees
Based on his observations, many young people in Hong Kong seldom ask questions during classes, interview sessions or at the workplace. "This reflects millennials' lack of natural curiosity and willingness to know more." Dr. Goddard adds that while he has interviewed many young candidates, what he emphasised wasn't their track records or historical experiences but rather their potential and commitment. "I like to ask where will they be in the next three to five years, and even a decade out? Have they showcased their interests, motivation, ability and willingness to learn?"

Dr. Goddard still remembers a young woman who had a bachelor's degree from a mainland university and completed her master's degree in Hong Kong, then applied for a post at his company. Though some of his colleagues preferred other candidates with a few years of work experience, he gave this young woman a job opportunity. He explains - "I liked her potential and energy. During the interview, she seemed very honest, trustworthy and committed. I thought I could trust this person and she would be a company asset after 12 months of training. At the beginning, I only offered her a salary of less than ten thousand per month. Despite this, she proved herself and then we increased her salary twice in one year. She didn't disappoint me and she learned a great deal. In only two years, she became a key project manager in our company."

Dr. Goddard believes that HR should invest in those who have the potential to grow. "Some people may be smarter but they aren't necessarily better." Some companies may hesitate to invest in the younger generation who may often leave a company or even join their competitors in six months or a year later. He suggests that employers reach an agreement with millennials in order to secure a certain degree of loyalty and ensure a return on the training investment a company puts in. For instance, young employees could recoup training costs from the company after they had passed professional examinations and remained with the company for a certain period of time. "If companies are reluctant to invest in their employees, they won't be able to attract quality people, and eventually this will hinder business and workforce growth, creating a vicious cycle."

Build Good Communications and Leadership Skills
Dr. Goddard says that communications is another important social skill that millennials should acquire. "It's about the ability to understand and interact with people outside your circle of friends. It's about carefully listening to other people, asking smart questions, using the appropriate means of communications, ranging from emails, person-to-person contacts, and not just social media."

Moreover, he adds that it's essential for the younger generation to demonstrate leadership capabilities and potential, even though employers won't expect fresh graduates to take up leadership positions. "Millennials should know that good leaders believe in certain values, which instill a sense of trust in other people. In addition, many leaders are creative enough and able to generate ideas for problem solving while also having a certain degree of courage to take risks and make decisions amidst uncertain business situations. Finally, leaders should be energetic both physically and mentally."

The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 667,000 members and students in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMA designation holders and accounting and finance professionals globally.