Kelly, Author at Astute Financial

Following the end of the last Peer Networks business growth hub this year, our MD Mary Maguire wanted to say a huge thank you.

Thank you to the partnership and collaboration of the East Midlands Chamber of Commerce, the Department for Business, Energy & Industrial Strategy and D2N2.

Thanks to Neale Lewis for leading the cohort and huge thanks to everyone in our group.

Its great to share the success of business opportunities such as this, and to show how a growth mindset can really make a difference to business owners and Entrepreneurs.

Since January 2021, a small group of business owners have laughed together, supported each other and inspired one another. The sessions have enriched their understanding of day-to-day business issues and how to solve key problems. From recruitment to HR to business strategies, they have been able to offer understanding in their specialisms, suggest solutions and brainstorm new ideas for others to take away and implement.

As the last cohort of the year has taken place – we just wanted to share how valuable, enjoyable and insightful the sessions have been. Neale Lewis is a great anchor for the group – picking relevant business topics for discussion, teasing out, and developing trains of thought amongst the group to encourage new ideas and free-flowing conversation.

Our MD Mary said that she has taken away many, many ideas over the sessions and made some great friends too along the way!

Mary had this to say;

“Sessions like these are really important as a way to build confidence amongst the SME business community across the East Midlands and nationally. I hope that these continue to inspire and encourage business professionals, MDs and entrepreneurs to make the most of the fantastic support available to them and to enable them and their teams to flourish.

My thanks go to all of these brilliant people and their businesses. Its been great to get to know you all and I hope we can get together soon for those pre-Christmas drinks! 😊”

If you would like some additional support / advice for your business you can contact Neale himself www.nealelewis.com.

Watch video testimonials from other business owners say how they have benefited from Peer Learning, click on the link below: –

https://youtu.be/aevT3_gJ0Io

You can find out how you can book onto future Peer Network Sessions on the following link: – https://www.peernetworks.co.uk/

and of course seek support from the East Midlands Chamber, Peer Networks and D2N2.

“Strong, healthy leadership advice and support will inspire business success”

How can you manage a successful relationship with your recruitment consultant? Our ‘astute’ tips!

Even though the jobs market is at it’s busiest for years, and job boards abound with opportunities, it can be hard to actually speak to a recruitment consultant. Recruiters are busy people at the moment! So we thought we would explore this and ask, “How can you manage a successful relationship with your recruitment consultant?”

How do you break through to reach a consultant’s attention? Here at Astute this is such a common problem experienced by candidates before they come to us, that we wanted to share some key advice. We take every application seriously. Personal interaction with all our candidates is key to how we work.

However, in the recruitment industry if you are looking for a job one of the hardest things is actually being able to speak to a recruitment consultant let alone meet one (online or in person!). In today’s current skills shortage, with many recruiters pressured like never before to fill more live jobs than pre-pandemic, agreeing proper bespoke lines of communication for your specific situation is key. This avoids telephone tag or WhatsApps being ignored. It stops either the recruiter wrongly feeling that the candidate is uninterested in the job opportunity they are trying to reach them about and it stops the candidate from feeling frustrated at the lack of communication.

WhatsApp, Slack, email, and texts are all well and good, but to really build a proper recruiter/ candidate relationship – there is no substitute for the spontaneity of a real conversation. We would argue that the art of real conversations is a key attribute in the recruitment process, particularly as many finance professionals continue to have an agile office/ home working policy.

Its all about consistent, honest and open conversation and communication.

IMPORTANTLY: BE CHOOSY!

CHOOSE YOUR RECRUITMENT CONSULTANT/ RECRUITMENT AGENCY CAREFULLY!

Recruitment consultants all offer varied services for candidates; they can vary in the way they interact with their candidates, the type of clients they focus on, the geographies they cover and of course the specialisms they focus on. Look at the website, have they any accreditations? Have they won any business awards? What are their testimonials like from candidates and clients they have worked with? How string are their reviews on Google? Check them out on LinkedIn.

A really professional recruitment consultancy will have positive testimonials, great reviews on Google, and super testimonials.

We do! A bit biased but we like to shout about what we do well.

Check out our 5* reviews from happy candidates and clients HERE.

To look at some of our candidate testimonials HERE

See what our client’s have to say about us HERE.

client range and career markets. Make sure you pick an agency that is compatible with you.

Remember it’s a partnership- both you and the consultant need to work together pro actively in order to reach the ultimate goal of securing you a new job. The measure of a good relationship is remembrance and re-occurrence over time; At Signet Resources we have had candidates contact us who we helped over a decade ago!

Here are a few words from our consultants….

‘It’s all about the partnership- It’s a two way thing’

‘The best candidate relationships I have developed start with Honesty right from the beginning with expectancies set from both sides.’

‘Keep open and direct lines of communication in order to develop honest and collaborative partnerships with each individual candidate.’

Here we have listed some key tips to help you develop and manage a really good relationship with your recruitment consultant.

Be CLEAR:-

About the specific job you want.
The areas you want to work in and contact relevant sector recruitment agencies accordingly.
Is career progression important to you? Tell the consultant!
What are the most important things you are looking for in the next job?
What are the best channels for quick communication with you throughout the recruitment process (texts/ emails/ WhatsApp)?
What minimum notice must you give?
Your availability for interview.
What areas do you need help with? (Interviews? Offer Management? CVs?).
How flexible can you be for meeting up/ online chat/ calls?
When is the best time to contact you about job opportunities?

Agreeing the above, will confer to the recruitment consultant that you are seriously looking for a new position and that you are ready to be fully active on the job market.

If you can show you are serious about looking for a job the recruitment consultant will take YOUR application seriously.

A consultant needs to know what you want. If you need advice/ help support be clear on this.

Remember recruitment consultants WANT to find you a job but they are not mind readers.

Be REALISTIC:-

Salary expectations:- If you are a part qualified accountant you are not going to command as much salary as a fully qualified accountant. Yes – salaries are creeping up but be realistic!
Have a reasonable timeline to secure a new job.
Time Management: Interviews and preparation for interviews take time. Make sure you have built in time for the next few weeks to attend interviews, take calls and research companies pre-interview. If you are about to enter the busiest point of the year work wise, (year end anyone?) then now is not the time to also squeeze interviews in. The quality of interview you give could be compromised. Instead allocate a month when you know attending interviews/ do an online MS Teams or Zoom recruitment call will be easier for you!
Hours:- Can you do overtime on a regular basis if that’s key? Or do you need to be home by 5pm/ 6pm for dependants etc. Be upfront with the consultant on this and they can work with you to flag the most relevant opportunities with the right mix of flexible benefits.

Be RELIABLE:-

Keep in touch/ Regular Communication:- Return all calls/ messages /emails promptly.
Follow instructions!
Be punctual for interviews/ agreed meetings;
Provide feedback as agreed;

If you can be CLEAR, REALISTIC, and RELIABLE, congratulations! You will be a sought after candidate to any recruitment consultant and you can look forward to securing a new role soon!

BACK TO BLOGS

I would love to hear your views on this as it is consistently one of the top 3 issues senior and junior accountants have raised whilst looking for new job. If you have enjoyed this post please click here to view other posts on our website.

Good Recruiters are like swans. Clients and candidates should experience a smooth, calm recruitment process, and not see the way our legs are kicking madly under the water! Clients do need to realise that there is a lot of work that proper professional recruiters do behind the scenes though!

Take client 1. Long-standing, and currently we are on an exclusive recruitment campaign to hire two permanent qualified accountants and appoint for a 12 month maternity leave Qualified Accountancy role for them. Open, regular dialogue with the hiring line managers as to our headhunting progress, ongoing guidance on the salary budget, and whether the annual salary for the roles is accurate market rate to entice the ideal profile of the candidate.

This strategy of clear communication and collaborative recruitment partnership means that we can achieve near 100% CV sent to interview requested ratio.

The client knows that for every single applicant forwarded to them, our team will have already contacted and reached out to many, many more potential candidates that did not make the grade. When headhunting, we will investigate if they are looking for a role, and challenge the candidates on their aspirations, technical financial skillset for these particular finance roles and ‘team fit’ to see if they align with our client’s employee value proposition and ethics.

Our client knows that one CV in their inbox could have meant many man hours in the background, skilfully interviewing and deep diving into potential candidates’ skills, experience, and career/ life aspirations.

The result? A seamless process whereby quality interviews take place, with smooth, transparent communication and honest, constructive feedback the whole way through.

Our client benefits from one agency acting as a true ambassador for their brilliant finance teams, with a justified expectation of quality not quantity of applicant.

Our candidates benefit from a targeted search that takes their aspirations AND their accountancy skills into account.

This is a recruitment partnership that has lasted many years.

Client 2/

A qualified accountant with specific industry sector background and key system skills was urgently required. Our client needed an incredibly quick turnaround and wanted to conduct interviews and ideally offer a suitable candidate within a week. The job was taken at 2pm on a Friday.

The consultant worked hard.

Very hard.

Conversations were had with over 100 potential candidates – most calls lasting 20 minutes, up to an hour.

The result? 4 x CVs were in our client’s inbox for Monday morning.

All were interviewed, one person was offered the role straight away with just a few days.

Scroll forward.

A friendly phone call to follow up as our bill was unpaid.

Why?

Our candidate was still in post – and very happy in the role. His boss was equally happy.

The reason for the bill not being was that they did not believe that we had ‘worked hard enough on the role. They felt that just a couple of quick calls were made and that was it so expected a reduction in our fee as a result. They had not realised all the man-hours and dedicated time sourcing and speaking to potential candidates behind the scenes.

This is why Good Recruiters are like swans.

Clients and candidates should experience a smooth, calm recruitment process, and not see the hard work going on beneath the surface.

They should understand that there is a lot of work going on out of sight, to make that process seamless and smooth.

Good employees are also S.W.A.N.s too!

The SWAN formula is an acronym created by an executive recruiter, John Swan, and is a very useful tool to improve candidate selection processes.

Four Simple Letters: S. W. A. N.

SMART. Always look to recruit intelligent, smart people into your business/ team. But how can you measure the intelligence of a candidate? The answer is simple. Questions! Intelligent people tend to be more curious than average people.

Successful people are smart, especially when it comes to the skills and competencies required for their specific job. This is what Jim Collins meant in his business classic, Good to Great, when he wrote about “getting the right people in the right seats on the bus.” People who have a gift for their particular job tend to work faster, make fewer mistakes, and are far more productive.

WORKS HARD. When recruiting, look for people who are willing to work hard and who have backgrounds and achievements that show how they have gone the extra mile and exceeded expectations. As we emerge from the pandemic, employers need staff who don’t just work lots of hours. Instead they want employees who can work smarter and handle their workloads to deadlines. The years of presenteeism are fading away and rightly so.

People who actually want to “work hard” are more successful at their jobs. The basic rule is that “people don’t change.” A person who is unaccustomed to hard work is not suddenly going to transform under your supervision.

AMBITION. An excellent candidate is someone who wants to move ahead in life. Ambitious people are willing and eager to take additional training; they are already reading and studying and seeking opportunities to grow, both personally and professionally. They value continuous improvement and genuinely want to be the very best they can be.

This is not about only selecting candidates who want to be the FD of a Plc. It is the ambition to be the best at whatever level they are working at and the willingness to learn/ read/ train to become the best.

Candidates should be “ambitious” and able to demonstrate to you why they want this particular job.

We love this quote by Steve Miles, Vice Chairman of Heidrick & Struggles; “Don’t seek a flame-chaser, find people who are anxious to be effective and ambitious about this assignment, not some future promotion or benefit. They have to live for today in that job, not chase the flame of future possibilities.”

NICE. The likability of the candidate is a critical factor. Where this quality was once mainly prized in customer service/ public facing jobs, being ‘kind’ is a highly valued strength in people applying for all levels of employment and professions. Whether in finance, accountancy, or other professions, employers are looking for people who they can work with and who can share and believe in their team values, and who they like. Team fit is one of the most consistently important attributes that our clients are looking for.

When we say “nice,” we mean people who are cheerful, positive, easy to get along with, and supportive of others. They fit within the culture of your organisation. Their beliefs are in alignment with your values and the customers your organisation serves.

In the final analysis, your ability to pick the right people for your team is the key to motivation. You cannot hire the wrong people and then expect to motivate them to be excellent performers for your team. You need to look hard for your ‘A’ players, or use an ‘astute’ recruitment expert who can do a thorough search for you!

The saying, ‘measure twice, cut once’ is particularly true in the world of recruitment.

Other blogs you may be interested in: –

Candidate Blogs

Do you know what time it is on you’re your career clock? Hints and tips to keep your career on track!
From Abacus to Ai, why a career in accountancy is a great career choice!
What does it take to be a great Financial Director?

Client Blogs

Why its OK to talk about mental health at work. We discuss a new, free initiative available to East Midlands businesses
Why recruiting the right people at the right time is key for business success
Why good recruiters are like swans / How to hire the right candidate for your business!

If you would like to discuss anything regarding this article or any of our other articles, please email [email protected]

Recruitment is a funny old game.

No two days are ever the same!

From arranging interviews, and sourcing jobs,

To building confidence, coaxing pre-interview nerves to stop!

Earlier today, a young chap called back

Relaying his interview feedback

He’s really keen and thanked me for the interview prep

He really wants our job and hopes he gets to the next step!

Then a qualified temp role to recruit, we needed CVs!

Onto the phones to drum up great interviewees 😊

A few calls later, we have a stellar candidate

Our client loved the profile, ‘Can they start on Monday around 8?

Then its onto reference checks,

Its important to ensure our candidate’s skills meet our client’s specs

Now to cover for a dear colleague whose very ill,

Ensuring continuity for their clients with their jobs we’re trying to fill.

Everyone is lovely and wishes our colleague all the best

So they can return soon, after having lots of rest (heart emoji)

Now its near home time for us in the office, the rest are WFH

Some are on annual leave, having a well deserved break from the phone!

Whether you’re a trainee recruiter, or a managing consultant

Recruitment is a helter-skelter, helping those needing a new move to those made redundant.

The ability to help guide those starting their finance careers

As well as to help FD’s and CFOs recruit amongst their peers

So if you’re looking for a brilliant new accountancy recruiter

Call our amazing, happy team – we really are ‘astuter’ 😊

With flexible working, and happy team vibe,

Your career in our family will really develop and thrive!

We are a multi-award winning and rapidly growing accountancy recruitment consultancy. We are recruiting for several opportunities, from Trainee Consultants to experienced Senior Consultants and Managers.

If you are looking for a genuinely original, caring, and fun team, who value integrity and honesty above all else, pop an email to Mary Maguire or Sarah Stevenson.

They will be delighted to arrange a confidential time to talk to you about what we can offer.

Remember: –

If you need to recruit

Call our team at Astute!

As a leading provider of accountancy staff, we look at what does accountancy mean, it’s history and importance to businesses today. Plus we explore the huge variety of careers available in the accountancy profession, and why accountancy really is a great career choice! We’ve included some great, useful links at the end too!

First, ‘WHAT IS ACCOUNTANCY?’

Historically, ‘Financial Accounting’ referenced how information was communicated on the financial position and performance of a business to its owner(s). An instant snapshot of how a business is really performing.

Financial statements, i.e. balance sheets and the income statement of a business revealed the real financial health of a company.

The word ‘accounting’, however, referred to one of the three principles of accountancy namely the process of reading, understanding, and maintaining the financial records of a business.

The other two? – Bookkeeping and auditing.

Accountancy and accounting are now synonymous, both referring to the methods of identifying, measuring, processing, classifying, recording, and reporting the financial status of an individual, company, business or organisation.

This information is mainly reported in the form of five key financial statements, prepared in accordance with relevant accounting standards, (IFRS, FRS, and various national GAAPs – including US GAAP – i.e. ‘generally accepted accounting principals’) to provide useful information to the users of these financial statements.

The two most important and most used accounting standards are IFRS and US GAAP.

USEFUL LINK: https://www.cfainstitute.org/en/advocacy/issues/gaap

Accounting is one of the key functions of every business. Every company, charity, and organisation around the world will have the use of an accounting department, internally or externally, to look after it’s transactions, i.e. sales ledger and purchase ledger.

The size of the accounting department of a business depends on the scale and type of business. In larger companies, the accounting department usually has many more staff compared to SMEs.

Smaller SME companies and businesses typically have one or two bookkeepers/ accounts all-rounders, who can manage the day to day transactions, and either have an external accountant to refer to, monthly or yearly, or employ a company accountant/ financial controller or finance director/ Chief Operating Officer (CFO).

Similarly, businesses with a larger number of transactions per day will need more employees in their accounting department than ones with a smaller number of transactions.

Where did Accountancy come from?

Accountancy is one of the oldest professions, with a very rich past woven through history.

The modern guidelines we use today were formed from accounting principles started thousands of years ago in ancient region of Asia, called Mesopotamia.

When the idea of counting, tallying money and writing were conceived, that’s when the concept of accountancy is thought to have been born.

The Romans brought order and more formal processes in accounting. Logging and filing transactions.

Double-entry bookkeeping as we know it today, was credited as being first created in 1494 by Luca Pacioli, an Italian mathematician.

Pacioli is commonly credited as the first person to describe the concept of debits and credits in journals and ledgers.

His work in the field of accounting earned him the title of “Father of accounting” and he laid the foundation of modern accounting systems and processes.

The industrial revolution in the mid to late 18th century, created the need for a more advanced system of accounting.

The old, ancient accounting systems, while intrinsically sound, did not provide a solution for the then emerging modern structures of corporations.

For example, corporations had complex structures of ownership that did not exist in ancient times. Investments in those businesses were hard to make due to the lack of credible, detailed information available to investors.

To tackle this problem and attract more investors, corporations adopted a system of reporting their financial activities by publishing financial statements.

At the beginning, these financial statements were limited to the balance sheet, income statement, and cash flow statement. The rise of the system of financial statements also gave rise to agency problems.

Agency problems arose because the shareholders of a corporation did not believe the management. This led to the development of a mainstream auditing system.

While the concept of auditing was already developed in ancient Egypt, it became a mainstream practice during these times.

So, what is an Accountant? What is their job?

An accountant is a professional practitioner of accountancy. Accountants are trained, competent professionals who have worked through different professional certification exams, or through their careers, have become ‘Qualified By Experience’.

Accountants are members or associates of professional accounting bodies such as the Association of Chartered Certified Accountants (ACCA), Institute of Chartered Accountants in England and Wales (ICAEW), Association Accounting Technicians (AAT).

Useful links to all of the professional accountancy bodies are at the foot of this blog if you would like to find out more about their courses, the training and examinations these really good organisations can offer to aspiring accountants.

In ancient times, accountants were viewed as solicitors that offered accounting services to their clients. However, in the mid-19th century, the Institute of Accountants in Glasgow petitioned Queen Victoria no less, for a royal charter.

This permitted them to legally define themselves as ‘accountants’ in their own right, rather than as ‘solicitors’. Even before the petition, accountancy as a profession was already recognised in Scotland. The petition to Queen Victoria meant that accountants could for the first time, be seen as professionals in accountancy rather than mere solicitors in the rest of the world as well.

This petition also laid the foundation for many professional accounting bodies such as the London Association of Accountants, later renamed to Association of Chartered Certified Accounts (ACCA) in the United Kingdom and the Certified Public Accountants (CPA) in the United States.

Aided by the industrial revolution, this created a demand for technically sound professionals who were capable of handling modern accountancy problems.

Branches of Accountancy – Our Astute ‘Accountancy Tree’ gives some clues!

Most people think of accountancy as simple bookkeeping and debits and credits. While these are a part of accountancy as a profession, there are several branches you can follow, each leading to varied, exciting and commercial accounting and finance jobs that are very different from each other.

**Choosing Accountancy as a profession really can offer contrasting, fulfilling, and varied career choices.**

We’ve broken down the key ones for you below: –

1) Financial Accounting

Financial accounting is the most popular and widely implemented branch of accountancy. Financial accounting branch is related to the reporting of the financial status of a business, through the financial statements, and any process that helps with the preparation of these financial statements.

For example, any process involved from entering source documents into the accounting systems of the business up to the preparation of the key financial statements falls under the financial accounting branch.

Careers can develop from training within a firm of accountants – local, regional firms including Dains, to the so called ‘Big 4’ – PWC, EY, Deloittes, and KPMG.

Or, you can choose commerce and industry (C&I), and secure Graduate Trainee Accountancy positions or Trainee Transactional jobs, such as Accounts Payable (AP), Accounts Receivable (AR) – also commonly referred to as Credit Control, and Accounts Assistant positions.

2) Management Accounting

While financial accounting has to do with the preparation of the information that is reported externally, management accounting is related to the preparation of information for internal use.

Daily or monthly operating reports, budgets, variance analysis, etc. all fall under management accounting.

The information produced through management accounting is used by the management of the business to make decisions for the future of the business. These can be used for short-term or long-term strategy making.

3) Cost Accounting

Cost accounting is similar to management accounting and often considered a type of management accounting.

Cost accounting is the area of accountancy that is commonly used in the manufacturing industry. Costings are used to derive the cost of a product for decision-making purposes.

This cost can be calculated using different costing techniques such as absorption costing, marginal cost, activity-based costing, target costing, etc. Once costs are determined, cost accounting is also concerned with monitoring those costs. Some companies typically have a dedicated Cost Accountant while others employ a Management Accountant whose job description will also embrace Costings.

4) Auditing

While auditing does not involve preparing any accounting information, it is related to reviewing the information produced through other branches of accounting.

Auditing can either be internal or external. Internal auditing is performed by the management of the business to review accounting information produced for internal use.

External accounting is related to reviewing the information produced for external use, which mainly includes reviewing the financial statements of a business.

Auditing can also be used to determine level of internal control of an organization.

Just as with Financial Accounting, careers can develop from training within a firm of accountants – local, regional firms including Dains, to the so called ‘Big 4’ – PWC, EY, Deloittes & KPMG.

Each will have their own trainee schemes and will look to recruit staff directly through LinkedIn or use the services of an accountancy recruitment agency or recruitment consultancy.

5) Forensic Accounting

Forensic accounting is closely related to auditing. Forensic accounting is related to the use of accountancy techniques, skills, and knowledge in circumstances that might have legal implications.

Forensic accounting is the process of carrying out forensic investigations to present in a legal proceeding. Forensic accounting is mainly used for fraud investigations within the business, professional negligence cases, or insurance claims.

6) Accounting Information System – or System Accountants

Accounting Information System (AIS) is related to the collection, development, deployment, implementation and monitoring of the accounting procedures and systems that are used in the accounting process.

With the computerisation of the accounting process, AIS has become a computerized methodology for conducting accounting processes with information technology resources.

7) Tax Accounting

Tax accounting is the branch of accountancy that deals with the application of tax planning to benefit the business and preparation of tax returns.

It also involves calculating the income tax and other taxes of the business. Tax accounting is used to legally decrease the taxes of the business. Tax accounting should not be used for tax evasion.

The rules of tax accounting are defined and dictated by the local tax body of the country the tax is being paid in.

8) Fiduciary Accounting

Fiduciary accounting is the branch of accountancy that is related to the management of funds in trusts. This branch is mainly concerned with the trustee communicating any financial information about the trust to the beneficiaries.

Fiduciary accounting is regulated by the law and court and, therefore, the information produced through this branch must be accurate and precise.

9) Nonprofit Accounting

Nonprofit accounting mainly applies to charities and nonprofit organisations. In this branch of accountancy, incomes and expenses are recorded according to the nonprofit accounting standards. (SORPS)

This is the alternative of financial accounting for nonprofit organizations. In this branch of accounting, expenses are recorded in the statement of functional expenses.

Furthermore, both the income and expenses are recorded in the statement of activities.

10) Social Accounting

Social accounting is the branch of accountancy that is related to reporting the effect of the business’ activities on the society and environment.

For companies, social accounting is used in the context of Corporate Social Responsibility (CSR) and companies may be required by law to do so.

However, other types of organisations such as not-for-profits, charities or government departments, may also choose to adapt social accounting voluntarily.

So, in summary, ‘Accountancy’ or ‘accounting’ is the process of identifying, measuring, processing, classifying, recording, and reporting the financial information of a business.

Accountancy has many branches such as financial accounting, management accounts, financial analysis, cost accounting, auditing, tax accounting, and many, many more.

Modern popular careers in accountancy and finance that are increasingly key in today’s collaborative business world, are Finance Business Partners – blending the worlds of management accounting, financial analysis and stakeholder engagement.

If you are looking for a career in accountancy, or are wanting to develop your CPD / training – here are some useful links: –

USEFUL LINKS: –

CIMA – https://www.cimaglobal.com/

ACCA – https://www.accaglobal.com/uk/en.html

ICAEW (ACA) – https://www.icaew.com/

AAT – https://www.aat.org.uk/

FRC (Financial Reporting Council) – https://www.frc.org.uk/accountants/accounting-and-reporting-policy/uk-accounting-standards/statements-of-recommended-practice-(sorps)

If you are looking for training providers for the professional accountancy examinations you can contact these two great organisations: –

KAPLAN – https://kaplan.co.uk/

BPP – https://www.bpp.com/

You can view our latest permanent and temporary vacancies on the following link;

https://www.astuterecruitment.com/all-jobs/

If you would like any further help, guidance or support, please contact our MD, Mary Maguire by email to; [email protected]

Or of course you can contact our team on 01332 346 100 – we are always happy to help.

Mary Maguire

Managing Director
Astute | Accountancy & Finance | HR | Office Support

Suite One, Ground Floor West, Cardinal Square, 10 Nottingham Road, Derby, DE1 3QT

T: 01332 346100
M: 07717 412911

E: [email protected]

W: www.astuterecruitment.com

LI: https://uk.linkedin.com/pub/mary-maguire/18/73/553

LI: www.linkedin.com/company/astute-recruitment/

“A smooth sea never made a skilled sailor.”

A great quote by FD Roosevelt. We feel that the same applies to accountants.

It’s through the turbulent times though that we learn, in life and at work. When things don’t go quite as planned, we have an opportunity to learn, to become a better sailor – or, in the case of our clients, become a better business, and our candidates – to become better accountants.

Enjoy the smooth sailing when the seas are calm. But when the surf swells and storms brew, remember: that experience brings the ability to cope with headwinds.

The same is true of accountants and all finance professionals. From credit controllers who can free up much needed cashflow by reducing outstanding debtors to a strong Finance Director or Financial Controller who can win that key tender or negotiate better rates with that new tender. Hard experiences teach finance professionals how to cope in difficult situations.

Our Astute seafaring ode to accountants everywhere: –

What is a business, without an accountant at the tiller?

Assessing performance, the greatest biller?

Forecasting growth, future success,

How to improve profits, stakeholders to impress!

Through recession, through growth, the bad and the good,

None can enlighten like a great accountant could.

Through the choppy waters of business life,

A strong accountant can solve financial woes and strife.

A seasoned finance professional,

Can bring a steady hand and deliver the exceptional.

Financial accountants; “How much are we owed?”

Payrollers processing pay for those furloughed.

Credit controllers to keep debtors down,

Managing relationships with a smile not a frown.

Part Qualified and Finalists, improving analysis,

Working hard to avoid performance paralysis.

Accountants in the office or WFH,

Rest assured, their value alone,

Will see your business thrive and grow.

So #BeAstute, use the finance recruitment firm ‘in the know!’

Contact our team ‘in the know’ for your career development or to source an experienced accountant in your finance team: –

57,600. A special number. Why?

Not my salary 🤣

Not how many fans will be at the next game at Wembley ⚽🤞

Nope.

Give or take, 57,600 is the number of hours I’ve spent at work in my career spanning 30 years.

That’s more than I’ve roughly spent with my family, friends and partners in all that time.

(happily married last 17 years👫).

I bet I’m not alone.

You can calculate your own career clock with some simple sums for fun.

But my serious point is, how much of my career clock is left? How much longer do I have to achieve my professional goals?

That’s not such a large number for me. (I love my job, but I don’t plan on working at 70 🧓). I am mindful that I only have a finite time left to achieve remaining professional goals.

If you do your sums, you can calculate how much of your very own career clock you have left.

The answer may surprise, appall or enthrall.

The difference between your ‘time served’ and ideal working career left tells you, in a nutshell, how long you have left to achieve your ambitions.

A time line.

Most people don’t think about this, wrapped up in layers of today’s problems. But if you are thinking of changing job/ applying for that promotion/ studying for your CIMA/ACCA/ACA/ AAT or other professional exam, you absolutely should know what the time is on your personal career clock.

Everything you work for, the job you do now to the people you work for, the exams and qualifications you select to acquire, should be helping you to achieve your ultimate career goal.

Knowing your ‘why am I doing this’ will make sure you are doing the right job for the right reasons, at the right time for you.

It could be to secure a job with better work /life balance now, while the kids are small but with a business that can give you promotions and growth in the future?

It could be you are an aspiring FD and need a role offering more man management / controls / commercial or other experience to fill that skill gap on your cv.

“Better three hours too soon than a minute too late.” – William Shakespeare.

As the Bard says, ’tis better to spend time waiting for the opportunity to take an action than miss the chance. But you need to recognise what those chances are, at the right time for you, seize them, and make those decisions to keep your life and career on track and on time.

The quote references Shakespeare’s “The Merry Wives of Windsor”, a character who suspects his wife’s infidelity, but it could be applied to any situation when you need to take a chance to change things and not miss the opportunity.

So, what’s the time left on your career clock?

It might just be the most important question for you and your professional aspirations!

If you would like confidential career advice you can contact Mary Maguire or our call our experienced team at Astute Recruitment Ltd on 01332 346 100.

An article by Mary Maguire, Managing Director
Astute | Accountancy & Finance | HR | Office Support

Suite One, Ground Floor West, Cardinal Square, 10 Nottingham Road, Derby, DE1 3QT

T: 01332 346100
M: 07717 412911

E: [email protected]

W: www.astuterecruitment.com

LI: https://uk.linkedin.com/pub/mary-maguire/18/73/553

LI: www.linkedin.com/company/astute-recruitment/

Recruiting the right team will get the right results.

Every time.

On a warm June evening, Gareth Southgate led his England team out onto the Wembley turf. To the thousands of England and German fans there in the balmy air plus the millions watching on their TV screens, it promised to be an exciting evening and did not disappoint.

But lets turn the clock back a couple of days, even a few short hours before the game. Football experts, home-spun armchair critics and fans were giving their opinions.

Play X on the left, leave y on the bench. The formation has to be 3 4 3 or 4 4 2 or other.

Gareth gave a brilliant lesson to all in management.

He was on the ground, and he knew his players inside out.

He had trained with them.

Laughed with them. Cried with them on many a day and game before that summer evening facing their German opponents.

He knew what each player was capable of and when to deploy their strengths.

A certain fresh pair of legs in the second half gave just the right blend of creative endeavor, skillful artistry, and sheer energy at just the right moment to make the maximum impact. 2 goals in just a few mesmerising minutes.

That is the lesson for managers in business. To recruit and use the right talent at the right time. To listen to your own instincts and be guided by the facts in front of you. To play to your team’s strengths. Not to allow frustration to sap away energy when things seem to drag. Not to sacrifice the quality and professionalism of the team for a quick easy foul.

Instead, stick to your game plan, ensure that each member of your team knows their role inside out, what to do and when.

Most important of all, as a manager you are the creator of your team’s destiny. To get that togetherness and will to win, not just for each player but for them to want to win for each other.

That’s the true goal of every manager and the way for teams, whether in business or on the pitch, to win.

How to settle into a new job & prepare to return to the office… They aren’t that different!

Settling into a new job in lockdown – and preparing for a return to the office are not that different. We help highlight tips on transitioning employees back to the office, or wfh after furlough.

Cast your mind back 12 months. The first lockdown meant businesses, and employees were in survival mode. Most employers relied on the Government’s furlough scheme to remain in business, and keep their talented teams together with little or no revenue. But, as things began to settle down, companies pivoted, adapted, and improvised creating new ways to operate.

Hiring slowly returned.

Now, as we look ahead with optimism returning to the recruitment sector we’ve seen increasing demand for accountancy professionals at all levels. From transactional to qualified and part qualified accountants, Finance Analysts, Management Accountants, finance business partners, and more.

The Labour Market Outlook from the CIPD revealed overt half (56%) of employers planned to recruit in Q1 2021. We’ve certainly been busy.

With recruitment appetites returning, successful candidates have been faced with the challenge of starting a new job whilst in lockdown. How have they coped?

Starting a new job remotely via Ms Teams, Zoom or other.

Starting a new job is a daunting prospect at the best of times, but being removed from the usual office workplace has made it an almost surreal experience.

Jessica Doyle who joined The Irish Times digital team during the first lockdown said this of the strange situation: “The funny thing about starting a new job remotely during the coronavirus pandemic is that all the usual social rigmarole of the occasion goes out the window.

“Everything you learn about making a good first impression – give a firm handshake, introduce yourself to everyone, make eye-contact – means nothing as you’re reduced to a disembodied head on a screen.”

The connectivity provided by online platforms including Zoom and Microsoft Teams has been a critical tool working from home, but nothing totally replicates face to face human interaction when you are trying to integrate in a new environment.

In Lockdown 1.0, the Zoom craze was a catch-all, adopted by all with huge enthusiasm.

Companies held online events. Quiz nights and virtual drinks became routine.

However, as time dragged on, ‘Zoom fatigue’ set in, with online socialising becoming rarer.

Now as we near the end of lockdown 3.0, many are admitting It has become harder to make connections in this latest lockdown.

Think of a pre-covid first day in a new job. At your new office, you would be bombarded with new information, meeting too many people all at once.

Usually you get a bit of time at your new desk to chat to your new office colleague(s), or accept an invitation to join them at lunchtime and bond.

This is the biggest challenge for new starters, to gain sense of belonging without spontaneous office chit-chat – the so-called ‘water cooler’ moments.

Instead, faced with a screen full of strangers, it’s harder to build personal relationships. Virtual conversations can be stilted & open to misinterpretation. In bigger groups, the louder characters tend to dominate virtual group discussions.

One saving grace of Zoom is that, at least, you can see everyone’s names at the bottom of their screens, avoiding first-day embarrassment of forgetting your new colleagues’ names! 🤣🤣

It is understandable to feel a bit of an outsider without physically meeting colleagues. You could easily assume everyone knows each other well (often incorrectly) and that you are on the fringes. An office or workplace is a social environment. Taking the social aspect away, can create feelings of loneliness and isolation.

Add to this the nagging worry about whether you are making a good impression. Away from an environment of instant feedback, how can know how you are doing?

Stanford University Professor Nicholas Bloom states how new staff struggle with unspoken rules: – from, ‘How many hours do people really work?” to, “When is it acceptable to take a break”, and “What do I wear on my first day?”.

Bloom raises the issue of ‘over-communication’. Where a new recruit will endlessly send unnecessary emails and Slack or WhatsApp messages just to highlight the fact that they’re still there.

Its never been so vital to have an onboarding plan, AND a ‘reset’ for existing staff returning to the office.

As it is so much more difficult for new employees to integrate, it is incumbent on the manager or business owner to implement an effective onboarding process. Extra thought needs to go into integration of new starters. From installing company ethics and ways of working, as well as the specific requirements of the job role.

Global management consultants, ‘The Boston Consulting Group’, calculates that companies that have effective onboarding processes in place achieve 2.5 times more revenue growth AND 1.9 times the profit margin as opposed to organisations with poor onboarding strategies.

Employee onboarding is a series of activities which educate new hires how to get to know their team and learn about the company’s attitudes, methods, rituals, and tools. For a new employee it’s an opportunity to get used to a unknown environment.

Onboarding can consist of formal training, workshops, and video calls, as well as shadowing people on the team and organised introductions. It can be a long, immersive process that lasts several months after initial induction sessions.

While a line manager may be the direct source of onboarding, the process should include meeting colleagues, by arranging video calls or assigning a ‘buddy’ to the new hire to provide vital support in those initial months.

A new starter should expect a proper and friendly introduction to the new company, but sometimes the new employee may need to reach out for help. In such a case, it is certainly worth asking a manager for introductions with other team members.

You should never be left alone to your own devices when starting a new job. If you are, then perhaps this isn’t the firm that deserves your services.

Preparing for the big return.

If all goes well, virtually all restrictions will come to an end by 21st June, and the big work from home experiment will come to an end. Although many people will continue to wfh, some of the time, most will return to the office in some capacity.

It may come as quite a shock.

While some people are counting down the days to freedom, others will be looking at the return with trepidation. Many of us have become quite reclusive during the lockdowns, and the social skills we used to take for granted can quickly become rusty.

Kelly Feehan, services director at wellbeing charity CABA, says, “Returning to the workplace after such a long period of time working from home will be tough for the majority of us. But for the people who started a new job during lockdown, and the working from home period that followed, it’s bound to be an even more daunting experience.”

In many ways, it will be like going through that awkward first day all over again. The only consolation is that everyone will be in the same boat.

Feehan says, “It’s hard to get a true sense of an organisation’s workplace culture when you’re working remotely, so you’ll want to spend some time reading the room and observing the different dynamics between your team members.”

The good news is that we pick up new habits and routines very quickly. Although we have become used to our own company, we are social animals by nature.

So, let’s celebrate! 👏👏👏 It’s nearly time to rejoin the human race and get back to near mormal!

Just make sure your existing staff and any new employees understand your expectations, and can access any help or support they may need.

Mary Maguire is one of the owners of accountancy specialist Astute Recruitment Ltd.

If you would like to see our company updates and industry insights, follow our LinkedIn page : – LI: www.linkedin.com/company/astute-recruitment/

Mary Maguire

Managing Director
Astute | Accountancy & Finance | HR | Office Support

Suite One, Ground Floor West, Cardinal Square, 10 Nottingham Road, Derby, DE1 3QT

T: 01332 346100
M: 07717 412911

As the weather heats up, will it be a bumper summer for business? The forecast looks good! 🌞

In 1976, like now, some boys hair was as long as girls, if not longer. 🤣🤣👭 Fashions were tank tops, and of course, flares! On the airwaves, Queen’s Bohemian Rhapsody, Bay City Rollers, Fleetwood Mac, Elton John, the Bee Gees, and more. 🎶

But, it wasn’t the clothes we wore, or the music we listened to that made 1976 stand out. It was the incredible heatwave!

Like this year, April 2020 was one of the sunniest Aprils on record, and 2020 ended up being one of the driest springs on record too. Thats what happened in 1975, the year before we enjoyed one of the greatest, long, hot summers in the UK.

Our economy seems to be heating up too! Below we share the latest key statistics from respected organisations on staffing trends, employment and business confidence.

After the turmoil of 2020, 38% of firms surveyed by the Confederation of British Industry (CBI) said their outlook on the business situation had improved in the past three months.

This is the first positive reading since January 2020, before the pandemic shut down much of the UK economy and the highest since April 1973.

Factories are also stepping up hiring, with the measure of firms looking to grow their workforce over coming months at the highest since 1974.

The survey’s results also found that while manufacturing output was broadly flat in the past three months, orders for new work are picking up and investment plans are being accelerated to take advantage of a “super-deduction” tax break announced in Chancellor Rishi Sunak’s budget.

The release of the IHS/Markit purchasing managers’ index came after official data showed strong growth in retail sales in March when most of the lockdown restrictions imposed to halt the spread of the Covid-19 pandemic were still in force.

Overall PMI rose from 56.4 in March to 60.0 in April, well above the 50 cut-off level that shows whether the economy is growing or contracting. Service sector business activity rose from 56.3 to 60.1, while manufacturing output was up from 56.6 to 59.1.

Markit’s chief business economist, Chris Williamson, said it was the strongest showing in the 23-year history of the PMI other than a four-month period between August and November 2013.

Companies are reporting a surge in demand for both goods and services as the economy ‘unlocks’ and the encouraging vaccine rollout adds to a brighter outlook,” Williamson said.

“Business activity should continue to grow strongly in May and June as virus restrictions are eased further, setting the scene for a bumper second quarter for the economy.”

In more good news for business, The Office for National Statistics said that in March 2021 – a month in which there was only a modest relaxation of the curbs imposed across the UK to stop the spread of Covid-19 – retail sales rose by 5.4% – well above the 1.5% predicted by City economists, with sales in March 1.6% higher than they were before the pandemic began to have an impact on the economy in February 2020.

In good news for the high street and businesses with fixed premises, rather than just online revenue streams, the ONS said the proportion spent online decreased to 34.7% in March 2021, down from 36.2% in February 2021, still above the 23.1% reported in March 2020, the month when lockdown restrictions were imposed for the first time.

And what of jobs and employment trends?

New data from the Recruitment & Employment Confederation (REC), stated that business confidence in their ability to hire new staff continued to improve in the three months to February 2021.

Employer confidence in hiring rose to a net level of +16 in December-February 2021, six percentage points higher than in the three months to January. In February alone, this surged to net: +29, as the government’s roadmap for easing lockdown was announced and firms could start putting their re-opening plans into gear.

Neil Carberry, Chief Executive of the REC, had this to say:

“Recruiters report that this latest lockdown has been much less damaging than many feared back in January. The relative health of the economy and the jobs market is now being reported by business surveys, official figures and our own data. Our figures show that hiring companies are confident about bringing people into their businesses now, and that has to be good news for all of us.”

Employers are still being cautious, reflected in employers leaning more on interim and temporary staff.

Interim workers remain a great way for people to find work quickly and for firms to hire when the outlook is not certain.

Key statistics: –

Hiring intentions for temporary agency workers rose by eight points to net: +14.

Employers’ intentions to hire permanent staff in the short term fell by five points, but remained high at net: +19.

Employers’ intentions to hire staff in the medium term (over the coming 4-12 months) increased in December-February 2021, rising to net: +30 for permanent staff and net: +15 for agency workers.

So, the weather for business looks set fair, and the forecast for Summer 2021 and the rest of this year, looks very encouraging!

Could it be a record-breaker? We’ll just have to wait and see.

A bit of fun for those too young to remember the summer of 1976, here are some reminders.

1976 was the hottest, sunniest and driest summer people had seen up to that date. The government panicked about low water levels in April and May, and hosepipe bans combined with water restrictions were introduced. People were told to water their gardens with used bath water. I remember families including mine, collecting water from standpipes in their streets.

A minister for drought (Denis Howell) was appointed, promptly telling all to cut water consumption by half, or face water rationing until December! He also told people to pour washing up water into toilets instead of flushing.

Water companies issued a total of 139 drought orders.

Hospital admissions soared with many people suffering from sunstroke, heart attacks and a higher incidence of asthma.

The M1 and other motorways had problems with tarmac melting.

Large areas of woodlands and heath turned brown, and were sadly devastated by fires which in some cases had to be left to burn because of the water shortage.

The high temperatures continued through August with many parts of England exceeding 330 hours of sunshine and highs of 25-30c on many days. 🌞😎

Then the heatwave finally ended.

The last week in August saw the beginning of the end of the heatwave, with spectacular thunderstorms.

That historic heatwave was followed by an exceptionally wet autumn, with some places recording over 200% of their normal rainfall. Heavy storms and torrential rain continued on many days through to October, ending one of the worst droughts on record.

Mary Maguire

Managing Director
Astute | Accountancy & Finance | HR | Office Support

Suite One, Ground Floor West, Cardinal Square, 10 Nottingham Road, Derby, DE1 3QT

T: 01332 346100
M: 07717 412911

E: [email protected]

W: www.astuterecruitment.com

LI: https://uk.linkedin.com/pub/mary-maguire/18/73/553

LI: www.linkedin.com/company/astute-recruitment/

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Mike

16:04 13 Mar 23

Highly recommended! Josh and Sarah have been fantastic at Astute. They've found and placed me in 2 jobs now between them, both really responsive and excellent at keeping you up to speed with things. Very knowledgable about the roles and happy to talk to companies with any queries you have.

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10:45 27 Jan 23

Great agency one of the best ones I've worked with! Liz has been a great help and support in helping me towards a new direction in my career life. She is very attentive and keeps me in the loop at all times! She makes the extra effort to work with my preferred requirements for work and even if it isn't completely attainable she meets me in the middle and does as much as she can to help! Also Liz is very funny might I add 😂 and I'm happy that I can now put a face to the name after all these years! Thank you again Liz for all your help and support! 😊

Christine

10:32 20 Dec 22

Josh and the Astute team was very swift to help me to find roles that matched my profile. They are really reliable and will help through every step of the recruitment process going out of their way to assist and follow up when needed. Could not find a better recruitment agency!

Helen Pinegar

16:19 18 Dec 22

Fantastic recruitment agency.. Josh was extremely enthusiastic, encouraging and clearly knowledgeable about what was needed from both the employee and the employers point of view. Extremely supportive especially in regards to interview preparation and endeavoured to procure feedback promptly. Wouldn’t hesitate to recommend Astute in the future to both candidates and recruiting businesses particularly for the right fit for the role!!!

Lisa Leigh

11:56 30 Nov 22

I have worked as a candidate for Astute and they have been excellent. Super friendly service and professional agents keen to fit the right person to the right job. It has been a pleasure dealing with them and I would happily work for them again in the future. Highly recommend this agency.