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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.

Bah Humbug

The nights are drawing in, Starbucks have turned their cups red and the shops have dusted off their seasonal music collections. It can only mean one thing: Christmas is on its way.

Christmas is, first and foremost, a religious festival. However, both socially and economically, if Christmas didn’t already exist it would be a fantastic invention. For a Victorian factory owner producing textiles for the masses, Christmas would have made a huge difference. There would’ve been increased demand for his products as consumers bought or made presents for their families. His tired workforce would have had the opportunity to get some rest on the bank holidays and build up their energy stores by overeating. The times spent with family and friends would erase memories of the hard slog in the workhouses. Christmas would have been the perfect antidote to the effects of cold, dark winter nights and a perfect tonic for economies in hibernation.

Admittedly, it’s almost impossible to imagine a world without Christmas. That’s why it’s incredible to believe that, in workplaces up and down the country, it’s like The Grinch has stolen Christmas. Conversations with friends suggest that there are a number of British companies who have chosen to dispense with a Christmas institution, the Office Party. But why?

There are usually polar opinions on the value of the Christmas Party: those who think it’s a waste of money that could be better spent elsewhere, and those who think it’s critical to rewarding the workforce. Often these views follow Jungian patterns: the logical and un-emotive can live without the parties, but those who are more intuitive and feeling value opportunities for bonding. One could probably stereotype these as the ‘Accountants’ View’ and the ‘HR View’. Imagine the following board room scene:

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It’s the November board meeting at Marley Corp and the board has come to the final agenda item: the Christmas Party.

Mr. Scrooge, the FD of Marley Corp, thinks that the Christmas Party is a waste of money. The company employs 10,000 people in the UK and to spend £50 a head on a party is £500k down the drain. Scrooge (being an accountant) will also tell you that it’s not just the direct costs that matter. Marley Corp has a big Christmas order to complete and he knows that the-morning-after-the-night-before is going to be pretty unproductive … and that’s the staff who appear for work at all. Scrooge has estimated that there’s at least another £500k of costs the following day. Profits are tight at Marley Corp and Scrooge sees cancellation of the Christmas Party as a quick win to cut costs. There wasn’t a party last year and the company seems to be holding steady despite the recession. He’s strongly suggesting that they cancel the party again this year.

Mrs. Cratchett has a different view. She’s the Director of People and has been fighting retention and morale issues all year. Absence rates have gone from 2% to 3% since last Christmas, in part due to the late cancellation of the big annual party. Annual employee attrition has also increased, from 20% to 25%, despite Marley Corp holding sales and employee levels constant. As far as Mrs. Cratchett is concerned, Christmas provides an opportunity to boost morale by giving something back to the workforce, not taking it away. She has asked one of the finance team to do some analysis on the costs of the additional recruitment and impact of absence but they’ve been working on Mr. Scrooge’s presentation instead. She thinks that the savings from improving employee satisfaction could be in the millions next year.

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Who will the board side with?

It seems that in a lot of boardrooms across the UK, the Scrooges are winning. During a recession, jam today seems to be more valuable than a bit more jam tomorrow. This may well prove to be a sensible rather than selfish decision, but before directors and managers make the stereotypical choice about celebrating Christmas with colleagues, maybe it’s time to brush up on their Dickens and give in to the Spirit of Christmas.

Colin qualified with Arthur Andersen in 2000, eventually leaving in 2002. After a brief stay at Centrica, he joined Carphone Warehouse and worked in assorted roles with Talk Talk and Geek Squad as Finance Director. After working with friends at Mint Digital, a social media agency, Colin is now looking for a new challenge.

GAAPweb 'highly commended' at industry awards

One of the nice things about working for a long-established company like GAAPweb is that you get invited to the occasional industry event. I had the pleasure of attending an awards ceremony hosted by the IFA (The Institute of Financial Accountants) earlier this week.

The nominations for our category came from IFA members and GAAPweb was up for an award in the recruitment agency category … despite the fact that GAAPweb isn’t a ‘recruiter’ in the traditional sense.

However, the fact that we’re recognised as one is an indication of the increased synergy between agencies and job boards. The latter is actually a go-between for the recruitment consultant (who posts their jobs) and the candidate (who finds these jobs and applies).

GAAPweb scooped a special recognition ‘highly commended’ award, and was praised as having a significantly positive impact on the jobseeking process.

GAAPweb was in good company; other winners included Dragon’s Den tycoon Theo Paphitis, who won the ‘Contributing to UK Enterprise’ award for his continuing support of SMEs and start-up companies.

The IFA said: “Following an intensive day of interviewing, the judging panel of professionals and academics from the business and finance sectors selected 18 top people and companies in accountancy and financial management for demonstrating personal achievement and success in business”.

Duncan Hood is Marketing Manager for GAAPweb and has been in the industry for just under two years. He worked on a variety of brands including TheGraduate and HotRecruit before joining GAAPweb. His broad industry experience and knowledge stretches from SMEs to the NHS.

GAAPweb scoops nominations for two awards events

If you needed further proof that you’ve been looking for your next finance and accounting role in the right place, here it is.

This year’s National Online Recruitment Awards nominees have been announced, and it’s with great pleasure that I can reveal that GAAPweb has been shortlisted in the Best Specialist (Niche) Job Board category.

NORAs defines this category as: ‘A purely online job board, advertising vacancies within a defined range of disciplines. These sites must operate independently of recruitment firms or publications’. If you’re familiar with GAAPweb (which I’m sure you are if you’re reading this), you’ll know that we’ve been the UK’s leading specialist accounting and finance jobsite for over 11 years.

On a shortlist of eight contenders, GAAPweb is the only finance and accounting niche site nominated. Overall, there were 654 contenders for the Awards, resulting in 25,000 nominations.

As further testament to the success of GAAPweb over the past year, the IFA (The Institute of Financial Accountants) has also nominated GAAPweb in their recruitment category as part of their Achievement Awards.

Industry recognition and accolades are undoubtedly nice to have, but here at GAAPweb we’re more interested in giving you the latest news, highest quality jobs and access to the best recruiters.

Your responses to our 'Don't worry, jobseekers' posting

Last week we published an article entitled 'Don't worry, jobseekers - a recruiter speaks". In it, Philip Marks, Managing Director of Huntress Finance, offered advice on how to find a new job in the current economic climate. Here's some of the comments we received:

All good advice I can see, but I'm in a very difficult situation. After three months of not working I have had to take a very junior local job (and huge pay cut) just to pay the mortgage.

Now that I am working again, I am desperate to get back on track career and exam wise. Apart from still looking constantly for that better job rather than concentrate on the fact that I think my present job will turn permanent, it is very difficult to know where to turn next to get back on track.

Any ideas out there?

Jackie

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The worst suffering candidates are, unsurprisingly, those who have emerged from Construction companies and/or Financial Services. Having enjoyed above market rate salaries, bonuses and benefits, it is these candidates who need to "wake up fast". You may have been on £100k plus a car, plus a contributory pension, but that is well above the market rate. Further, by saying you'll consider a 10-15% drop "so long as I get a car" still doesn't cut the mustard.

To truly get the best paid job for you, and to get one quickly, ask a recruiter what they think your expectations should be and accept that it will be a bitter pill to swallow. The best paid job however is going to be considerably lower than the one you want in many cases. This is the only way you are going to secure a permanent job because there are a lot of you out there, and the high volume of candidates, coupled with the low volume of jobs (at the senior level) means that it is a buyer's market (excuse the pun) or in other words, clients can rein in a candidate's expectations.

I cover the North of England, and I must say, that for every £40-50k FC/FD job I get on at the moment, there is an ever expanding number of "recently redundant" FC/FD type people all wanting salaries which are a minum of £50k plus benefits, and the expectation for benefits has to put the package closer to £60k... This is just not going to happen at the moment, certainly when I have candidates saying things like "my ideal job is a number 1 or 2 in an SME type business" which is the "classic" line I hear from many candidates. 

Accept that the top end you can get (excluding big companies - which aren't really recruiting at the FC/FD level) is a £50k combined total package, then you will have plenty of opportunities put in front of you and typically, once you have proven your worth, you can get the big bonuses and bigger packages you want.

Phil

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What doesn't help candidates at all, especially the ones who have emerged from roles/companies that have enjoyed the "boom" period and therefore, had high salaries, bonus and benefits, is when they are at interview stage.

Typically, a Finance Director/Controller level candidate will be told by an agency that the top end salary is say £50k, plus a few benefits.

What I find with such candidates is that, when you explain the salary to them in the interview prep, and if you can secure interest from a candidate to get put forward, and indeed if they do go to an interview, they fall at the first hurdle for a couple of reasons:

1) The salary is £50k, so when asked by the interviewer what your expectations are, it does not help you when you say, "in my last job I was on £65k, plus a car plus a 20% bonus" - if the job is £50k, then you have to express a desire in the salary at that level.

2) Don't express too much emphasis on having guarantees for bonus/benefits and year 1 rewards - accept that the market is tight. It is very frustrating when a candidate spends too long asking about the year 2 salary/bonus. I get candidates all the time saying things like "I'll look at it if it's paying £60k in year 1, but in year 2, will I then be able to expect a car, a £20k uplift on salary and a 20% bonus?" All you are basically saying is that the offered salary package is too low again.

3) "Ideally I am looking for a number 1 spot in an SME type business" - anyone with over 10 years' experience wants this job. There are hundreds of candidates out there that want this job and to be fair, you are all good for that job. However, with so much choice for clients at the moment, you have to accept that you may not be the ideal candidate, and (as you know from when you were in the recruiting position) clients rarely give feedback at the CV sending stage.

4) When a consultant sends your CV to a job that you think you are good for, if they come back to you and say that you were not successful, don't get the huff. You weren't as strong as other candidates, deal with it. When a consultant tries to tell you why you weren't successful, don't then try and re-sell yourself to the consultant because in all honesty, we don't disagree with you, but we are not the decision makers.

5) Use the time that you are unemployed to get qualified, especially if you are qualified by experience. The biggest volume of candidates out there are QBE, over 45 years old, and all wanting the number 1 or 2 spot in an SME. So are you qualified? If not, then spend the time getting qualified. It will help, especially if you are mainstream in your experience. Whilst you have the time, use it. Don't get bitter when people tell you that a professional qualification is needed. You may be better than a Qual, but given the market, people are looking for reasons to reject candidates, so a lack of Qual is a big rejection factor.

Gareth in the North

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Job application frustration - recruiters, it's your chance to reply!

We've had some feedback from one of our subscribers about a frustrating experience with a recruitment company. Can any recruiters out there tell us what really happens to all those CVs submitted by candidates? How can bizarre errors like the one below happen? We'd be interested to hear from you...

"I do not always have great experiences with (recruiters) and I would welcome a few tips for how to deal with them.

Just an example, I found a job which was a potential “dream job” for me. I contacted the recruitment firm to get more information before applying. The job sounded like one which completely matched with my background and the recruitment firm was happy to send my CV to the client.

As I had contact with the recruitment firm earlier the CV was already available in their database. I double checked when they received my CV to make sure it was the latest version.

Next day I got a call from the recruiter who asked me why I had a break in my career and what did I do for those few months. Their client wanted to understand what had happened with me.

I explained to the recruiter that I did not have a break in my career as he could see from my CV. Two weeks later I called the recruitment firm to follow up. It has been more than a month now and no information at all.

So regardless of the effort we put into writing up CVs, cover letters and following recruiters' advice on application what else can we do to avoid situations like that? I would really like to read recruiters' opinion on this topic."

Sterling Advice

In a time when purse strings are being pulled tighter than Russell Brand’s jeans, we the people look for answers as to why prices are rising and stagflation looms frightfully over the economy.

Maybe then we could find some direction as to the next course of action; should we be preparing for recession by saving, or does this only serve to fan the flames of the fire? Should we collectively try to counter the crunch by spending, or will we come to regret parting with our hard-earned cash too frivolously?

Setting the issues of disposable income aside for a brief moment, there is much concern, certainly amongst friends of mine working in a temporary capacity, that their respective employments aren’t as secure as they once were.

However, this is not the case; temporary work is actually on the rise as employers seek more flexibility in their workers during the slow in market growth. And more good news is on the way my friends, as temporary workers’ rights are slowly being altered to match those of their permanent counterparts.

That’s right; after 12 weeks of temporary work at the same establishment, temporary employees in Britain will now be legally entitled to the same treatment and rate of pay as salaried employees.

Whilst many other EU countries don’t distinguish between the two types of employment with regards to rights or pay, this is still a huge step forward for temporary workers in the United Kingdom. Even permanent work doesn’t appear to be suffering as predicted during the crunch, with London employers actively seeking to take on more workers next quarter.

In fact here at GAAPweb, contrary to the national trend, the ratio of temporary to permanent roles being advertised has remained encouragingly constant over the past 12 months. Such stability sends out a warming message to those seeking employment in the finance sector.

So why are we worried? Well, we’ve all noticed the rising food prices, and despite the fact that the Wall Street Journal has actively encouraged its readers to start stockpiling food, at least we know the main cause; rising oil prices.

Not only are oil companies announcing record profits, but taxes are higher than ever, and panic buying of fuel has spread across Britain like wildfire.

Despite the escalated cost of living, it is important to remember that we are not yet in a recession. True, the economy has fluctuated in and out of recessions more regularly since the abandonment of the Gold Standard in 1931, but these peaks and troughs in market growth can be combated with intelligent spending.

The biggest cause of economic uncertainty is, in my eyes, erratic economical behaviour such as panic buying itself. Therefore instead of talking and panic buying ourselves into a recession, perhaps the best remedy for ailing bank accounts is simply to stay cool and stay sensible.

Somebody once told me that worrying is like a rocking chair; it will give you something to do, but it will get you nowhere. Inflation may be hitting us where it hurts in terms of being strapped for cash, but hitting the panic button is perhaps more the cause of the problem than the solution.