The GAAPweb blog

Institute of Directors launches senior executive job and recruitment site in association with TotallyExec

The Institute of Directors, Europe's largest membership organisation for business leaders, has launched a job site in association with TotallyExec.

The site will provide IoD members with instant access to the latest director-level jobs and advice, as well as the opportunity to advertise senior executive vacancies to the senior professionals.

Paul Halliwell, Managing Director of Trinity Mirror Digital Recruitment, the company behind TotallyExec comments: “The partnership provides IoD members with the largest pool of UK executive jobs in key business functions.  It also allows our executive recruiters to reach even more senior professionals; both the active job seekers using TotallyExec and the passive candidates the IoD reaches through its member marketing.”

The job site offers executive candidates free access to over 2,600 director-level roles with a minimum salary of £60,000, from blue-chip employers, executive search firms and recruiters. 

Andrew Main Wilson, COO at the IoD said:  “In the current economic climate, every organisation needs to recruit high calibre management efficiently and cost effectively, so we are delighted to team up with TotallyExec, the leading job site for senior executive jobs in the UK. Members will now have access to a significant number of senior executive vacancies and the facility to advertise for senior executives at specially negotiated rates, which start from as little as £175.

Onwards and upwards

One question I find myself often asked as a recruitment consultant for the accountancy industry is: “Where will the industry be in 6 months?”. It’s impossible to judge; however, the Alexander Lloyd job index for Q2 – an industry benchmark of job flow – is pointing towards a more positive future for both candidates and clients in the accountancy industry, in both permanent and interim fields.

Taking a hit

In January 2009, senior finance professionals were taking a hit, with companies having to resort to redundancies and stripping down their teams to the bare bones. The months between January and June 2009 showed a severe drop in job flow, with March 2009 performing at 37% under the average. There was no marked improvement and pick up of vacancies until the later summer months. July’s improvement of 8% job flow suggested a confidence in the emerging market, and jobs continued to roll in with only a small decrease over the Christmas period, which was to be expected. Too much turkey equated to a lot less work.

Onwards and upwards

The New Year brought a fresh start, and with it some positive signs of recovery to vacancy flow, with the Q1 Job Index report noting a 113% increase in vacancies registered with the accountancy team’s consultants. The market had picked up and showed real signs of recovery, especially in the mid-level interim and permanent recruitment markets. Fortuitously, this increase has continued.

Within the accountancy market, the amount of permanent vacancies registered in 2010 has increased without exception on the 2009 figures. On the interim side, the June 2010 figures are the highest in the 18-month period from January 2009. There was a slight increase during the end of the financial year towards March/April, once again suggesting that businesses are more eager to spend during this period.
 
The May and June 2010 level of jobs registered have been the highest in 18 months for both interim and permanent accountancy roles.

With 2010 showing an unequivocal improvement on the previous year, it might be time to finally breathe a sigh of relief. The statistics of the report show a respectable increase in the number of vacancies registered, and point to a positive progression in the recruitment market following the negative impact of the economic downturn of the past two years.

Other financial recruitment companies are also experiencing a welcome rise in jobs needing to be filled, indicating that the industry is evidently experiencing growth again after a hard two years. With many businesses having had to close their doors and make redundancies, this news will come as a great relief to the many great candidates in the market. We are looking forward to Q3 and Q4 proving us right.



John Richardson joined Alexander Lloyd in 2003, and currently leads the Accountancy & Finance and Pensions & Benefits divisions. He is a Senior Manager within the organisation and specialises in the recruitment of qualified level Financial Directors and Controllers for both blue chip and SME clients, and also recruits niche roles such as tax/treasury, corporate finance and audit.

Thames Valley opportunities knock

For many years, the bright lights and vibrant atmosphere of London have drawn people from all over globe to seek gainful employment within its hallowed institutions and leading commercial enterprises. However, I wish to challenge the assumption that London is the premier destination in the UK for those seeking work. Instead, I point to an area rich in opportunity for the talented individual, and the land I speak of is the Thames Valley.

One of the most common misconceptions is that taking a finance or accountancy role in the Thames Valley will mean a long commute. However, with most destinations reachable from Paddington, Waterloo and Marylebone in under 40 minutes, the average journey time is often similar to that of a standard London commute – and a lot more enjoyable, I would add. Imagine a train on which you get a seat and can read your morning paper in relative comfort, enjoy a similar commute time and in much more relaxing and comfortable surroundings: now you’re interested! Furthermore, travelling by car once again becomes a real prospect for those commuting, since many offices in the Thames Valley have free parking for all staff. Liberation from trains and their exorbitant fees; now I know I have you very interested.

Which firms operate from the Thames Valley? Well, there is Vodafone Country (also know as Newbury), along with such powerhouses as Dell, Reckitt Benckiser and O2. In addition to these instantly recognisable organisations, the Thames Valley also has a number of less well-known organisations. The combination of blue chip and SME firms means that there is an opportunity for everyone – no matter what style or type of organisation you prefer.

Without a doubt, the greatest advantage of working in the Thames Valley is the opportunity to achieve a much better work-life balance. Often offering shorter commutes, many people (especially those with families) find the chance to spend more time with loved ones a great incentive. This, combined with a cheaper and a more relaxed environment away from work, is a key factor in making the Thames Valley – in my opinion – an excellent place to work.

With its easy access, excellent company portfolio and a real balance between work and home life, the Thames Valley offers some incredible opportunities that you would be unwise to dismiss without real consideration.



Liam Griffin currently recruits finance and accountancy professionals for WH Marks Sattin across the Thames Valley region. He currently works within a broad range of clients from industries such as IT, Telecoms, FMCG, Oil & Gas and Retail.

Applying for a job on GAAPweb? It just got easier…

I’m not going to lie, most days it feel pretty good to be a part of a well-respected brand like GAAPweb. We have been operating for twelve years, and in that time we’ve gone from strength to strength: steadily expanding on our loyal candidate base; consistently generating visits from an experienced, qualified audience (of whom over sixty per-cent hold a professional qualification); and recently settling into our new home in Canary Wharf.

This kind of success can occasionally lead to complacency, so it’s a good thing that we’re not sitting back on our laurels.

Last month we released market-leading integration technology that facilitates a whole new kind of application process.

If you’re an accounting or finance professional looking to apply for a job you found on GAAPweb, you will now be given the opportunity to apply using your LinkedIn profile.

For those of you who might not be au fait with social networking, LinkedIn is the world’s largest business networking site, with 65 million members and a new person joining every second. You can create a ‘profile’: a kind of professional online CV that allows you to list your qualifications and experience, link to your professional website and blog, display recommendations from colleagues, and show how well-connected you are within your industry.

So, the next time you apply for a job on GAAPweb, you will be prompted to use our new ‘dynamic job application’ feature. You will simply need to enter your LinkedIn login details and GAAPweb will securely access your profile. This information will automatically be compiled into a CV and attached to your application.

This saves you time from uploading one or multiple Word document attachments of your CV, and also means that you don’t have to mess around with formatting.

It most certainly feels good to be leading the pack; no other jobsite offers this kind of functionality. But don’t worry, we’re not becoming complacent – the team are always looking at new ways to enhance your experience. If you’ve already had a go at using our LinkedIn feature, let us know what you think by leaving your comments below.

Banking on Success

Thinking about a career in the banking sector? Well, there’s never been a better time.

You may be forgiven for thinking that the previous sentence appears a little incongruous in the face of the numerous recent headlines preaching the dire state of this very sector. It’s certainly true that the past 18 months or so have been some of the worst on record for the banks in terms of financial output, radical cutbacks and unprecedented redundancy drives. However, all of these initiatives were implemented in reaction to predictions of a much deeper long-lasting recession – a prediction, I might add, that was never truly fulfilled. In fact, while 2009 pales in comparison to the heady heights of 2007, it has been an exceptional year in its bounce back from the sharp talons of recession, and has presented the banks with a huge opportunity to hire.

Along with the infamous collapse of various banking institutions, there has also been a substantial amount of expansion. We saw Santander (with its investments mostly in Latin America as opposed to North America) buying up the competition; then there was Barclays Capital, using the general lack of bonuses at rival banks to poach top employees. The huge profits posted by the major players during 2009 will dramatically increase the need to recruit over 2010. This is the culmination of various factors, including the huge redundancies announced by many firms followed by their subsequent boost in profits and need to take on more staff. This, combined with the current and predicted bonus payments, will lead to the obligatory game of musical chairs.

The obvious next questions are what positions are becoming available – and where?

Perhaps the best place to start would be with Nomura where, for the first time in its history, it has made more money from its international operations than its domestic business. As Nomura intends to expand its oil and gas operations, accountants with exposure to financial analysis and accounting in this area should be welcomed with open arms. Despite RBS’s ill-timed purchase of ABN Amro, it is actively looking to expand its markets business, and subsequently will need analysts and financially astute staff to support the sales force and traders. Similarly, Morgan Stanley wants to replace the 400 staff it cut or lost during the financial crisis with those who’ll have specific focus on middle office to help the trading floor. Citigroup is looking to replace staff across the board, after having lost as many as 40% of employees in some business lines. Interestingly, many of Citigroup’s lost employees were senior, and there is therefore a clear opportunity for fast progression of junior staff.

The mass recruitment drive will not just be for those already with experience in banking, as Credit Suisse, Morgan Stanley and Barclays have all confirmed they will hire more graduates in 2010 than they did last year. Barclays even envisages as much as a 30% annual increase in graduate opportunities.

So, what ever people say about prospects for the banking sector, take it from me – there are plenty of opportunities. It’s just knowing where to look and how to press the employer’s ‘hot buttons’, in both the application process and during the interview.
 

Josh McDonald, WH Marks Sattin

A future in the Public Sector?

It is safe to say, without raising too many eyebrows, that 2009 was not the most prosperous of years in terms of recruitment. However, in spite of the recession, working in the Public Sector seems to have taken on a new lease of life – and the early indications are that 2010 will be a far better, if not a ‘bumper’, year.

The Office for National Statistics (ONS) claims that public sector workers earn 7% more than their peers working in the private sector. Maybe it’s reasonable to assume that there might be other significant benefits working in the public sector. Despite the economy in disarray with numbers of vacancies distinctly lower, the shrewd candidate can turn that to his or her advantage.

Increasingly, people with a commercial background are looking for a new direction and, similarly, public sector line managers are favouring candidates with extensive commercial experience. As recruitment consultants, we are certainly seeing more and more candidates who are looking to join an industry that is selfless, yet rewarding. Despite the worrying plight that we find the economy to be in, candidates who posses strong, ‘in demand’ skills are experiencing first-hand the benefits that the public sector has to offer.

The ONS expects average annual earnings within the public sector to have hit £22,405 in 2009, compared to the average commercial worker reaching £20,988 – although we should be aware that this statistic is not specific to the finance sector.

However, the public sector has long been seen to offer other benefits, such as improved working conditions – an average working week of 35 hours is not uncommon – and the ability to take up a pension at the tender age of 58. For those with an altruistic streak, the most significant factor when working in the public sector is the ability to ‘give something back’; doing good for both oneself and others.

So what of the future of the public sector?

The public sector is arguably 12-18 months behind the curve compared to organisations within the industry. It is widely accepted that 2010 will be a tough year, particularly with a general election looming and a change of government a distinct possibility. In fact, it is almost certain that public deficit will be reduced with the help from cuts in public sector services, and this will have an inevitable impact on jobs. However, to reiterate an earlier point, those with strong experience and marketable skills will still be of interest to the public sector – perhaps more so now than ever.

Regardless of the political hue of any new government, we will see significant changes in the public sector. My prediction is that the next five to ten years will be more rewarding than ever for finance professionals in the public sector – particularly those who will take change by the scruff of the neck.


Nick Ross currently recruits finance and accountancy professionals across the Public Sector at WH Marks Sattin. For more information about joining an industry that is ultimately selfless yet rewarding, then contact anyone on the Public Sector team at WH Marks Sattin.

FREE online workshop - Mature jobseekers: how to use your experience to your advantage

Do you feel your years of experience are holding you back in your job search?

If so, don’t miss our next online career workshop where we’ll give practical advice on how to succeed in your job search including:

• Structuring your CV;
• The types of roles to consider;
• Keeping up-to-date with technology;
• Key interview tips.

We will also be welcoming Martin Lloyd-Penny from Mature Accountants to answer your questions throughout the workshop.

This is a FREE workshop available to members and non-members of Workthing+ and is taking place tomorrow (Thursday 28th January) at 1pm GMT.

Click here to register for tomorrow’s FREE online career workshop. Spaces are limited, so reserve your seat now.

See you there!

Charities: a rosier 2010?

As we come to the end of a difficult 2009, the question on most jobseekers’ minds is the impending state of the employment market next year. I think we’re all in agreement that at the moment it is very much an employer’s market – but is this trend set to continue? Well, there just could be a glimmer of hope.
 
In the highly competitive job market we’re experiencing at the moment, skills such as change and crisis management, and cost-saving implementation will be paramount in working towards a more stable 2010.

Currently, the focus on recruiting for charities is on those roles that rely on income generation – that is, those that have an income target attached to their role. These are primarily fundraising roles; relationship-building with major donors and community fundraising are currently prevailing. So, what about finance professionals? This would seem to leave little room for the recruitment need for core financial professionals – the demand for qualified accountants seems to have taken a hit. Looking forward, what are the best ways of securing the right role in the not-for-profit sector in such a seemingly bleak market?

Whilst finance-specialist roles might not be sitting at the top of recruitment priority lists, those candidates with some decent exposure to fundraising aspects of charity finance will be valued, particularly those who can demonstrate some interplay with major corporate givers (or, for that matter, individual philanthropists). Exposure to the links between core finance functions and their intricate collaboration with fundraising teams will be prized. And it’s probably worth bearing in mind that such exposure could come from the donor – as well as the charity – side of the equation.

Furthermore, whilst ‘downsizing’ and ‘redundancies’ are terms frequenting many recruitment scenarios, the streamlining of processes, procedures and organisational structures are still prevalent, which is where the need for cost-cutting and money-saving comes in. Larger, international charities will be hit hard in the coming months due to the substandard exchange rate; their finances are going only a fraction as far as they have done previously in a more buoyant market. Consequently, there will be a focus on crisis management within finance functions and the need for financial expertise in this area will be in paramount. This will then allow these larger charities to focus more on development and capital expenditure looking to the future.

So, what of the New Year? I do think that glimmer will start to get brighter, so now is the time to start working on your own ‘personal brand’ or ‘sales proposition’. Work out precisely what will make you attractive to an employer and use that to develop a credible and compelling ‘package’.


Becky Postlethwaite currently recruits finance and accountancy professionals across the Public Sector at WH Marks Sattin. Her portfolio of clients is ever-expanding and covers the Charity, Housing, NHS, Local and Central Government and Education industry sectors.

Predicting our financial future

There’s no denying it: 2009 has been a difficult year for finance and accounting professionals.

This year, we’ve watched the banking crisis unfold on a global scale. Nowhere has remained immune; even Dubai has had to curb the spending of its monopoly money. But as countries including Germany, France, China and even the US start to show strong signs of recovery, it’s only natural for us to wonder: is it the UK’s turn next?

Another common theme this year has been the UK’s changeable financial forecast. We’ve heard varying stories about the state of business, employment and housing markets and whether or not we’re bouncing back to economic health or plummeting further into debt.

On a local level, CFOs everywhere are making predictions for what 2010 holds for their company. If anything, I think this year has taught us to expect the unexpected. I’d hazard a guess that the term ‘cautious optimism’ is flying around boardrooms everywhere.

Most of us are putting our faith in the latest industry news, with positive predictions for both accountancy graduates and Financial Directors.

As a very wise man once said (and I’ll take the liberty to paraphrase), it’s probably not the beginning of the end of the UK’s financial rollercoaster ride, merely the end of the beginning. At least we’re all better prepared for what next year will bring.

January is a great opportunity to start afresh and bring your ideas to a new role. From all of us here at GAAPweb, we’d like to wish everyone a Merry Christmas and a prosperous New Year.

What happens when you drop a piano on an accountant?

Seems obvious doesn’t it?

The comedic potential is hilarious. I can’t resist referring to Laurel and Hardy’s ‘The Music Box’ (still available). As onlookers, we can share in the anticipation of what’s going to go wrong, appreciate the ineptitude of the clueless clowns and enjoy the catalogue of catastrophic outcomes – thanks to the director, scriptwriters and excellent actors.

So what does happen when you drop a piano on an accountant?

Freeze frame the image and now let me put you, an aspiring thespian accountant, in place of the character. What would you like to see happen? What outcomes could there be, and which would you select?

In the original script, the poor unfortunate is walking along the pavement. He or she is unaware of their surroundings, assuming all is well and possibly doing their best impression of Flat Stanley. Great comic drama! Congratulations, you’ve made the celebrity listings.

This time, imagine a different script. The accountant is walking down the same street and under the same piano. They see the mishap about to occur and take spectacular avoiding action. They survive, heaving a sigh of relief. Great dramatic impact, maybe some humour and a heroic outcome. Hearty congratulations for a magnificent performance. You are now an all action hero who has hit the celebrity ‘A’ list.

From the inexhaustible ranks of accountants comes yet another! They saunter down the same street, see and assess the situation from a distance and walk up to the workmen trying to raise the piano to their client’s apartment. Quickly establishing a friendly rapport, the accountant ascertains why they have chosen the particular method of raising the piano. This is followed by a series of practical suggestions designed to make life easier and safer for all concerned. Not very good screen material, this. No drama, no celebrity status and a feeling of having been short-changed with the script.

So what does a piano dropping on an accountant have to do with anything?

While onscreen comedic catastrophe is highly amusing, its roots are often found in tragic reality. Again, in reality, it is the individual who achieves the most effective solutions who is the more impressive of the two. It is this individual who gains the accountant ‘A’ list status. Which of those accountants would you climb Everest with? The first is to be commiserated with. The second is to be congratulated for having sufficient anticipation to take avoiding action. The real hero is the one who not only avoided harm but who went out of their way to make the situation safer and easier to achieve for everyone else.

In the world of recruitment, it is easy to understand which accountant an employer would select. In the light of this, candidates should consider which of these three accountants they might be perceived as. It follows on from this that you should give some thought as to what actions you can take to add value to your role and organisation. These can also be used to demonstrate your potential to a future employer.

Chris Cutting, of Chris Cutting Recruitment (CCR), has several years experience in accountancy recruitment at all levels. His career spans working for both national and regional recruitment consultancies in the Midlands and establishing two regional consultancies servicing the M5 and M4 corridors. The one constant throughout his career has been to provide a tailored and personalised service to clients and candidates.