#Recruitment – Page 2 – Astute Financial

The University of Derby has invited Midlands businesses to sign up to
employee mental health support scheme, and we are taking part too!

Businesses across the Midlands are being offered the chance to boost productivity by working with the University of Derby to provide better mental health support for employees and here at Astute Recruitment Ltd – we are delighted to announce that we will be using this vital and important service for our team.

The Mental Health and Productivity Pilot will see the implementation of new workplace interventions at pilot organisations and the rollout of existing approaches in small, medium and large businesses across the Midlands Engine region.

The programme aims to:

contribute to the reduction of mental health distress
break down the barriers to accessing care faced by people experiencing mental illness
support their continuation in and return to work
make a positive contribution to organisational productivity, in terms of wellbeing and economic outcomes

Dr Paula Holt, Pro Vice-Chancellor Dean of the College of Health and Social Care at the University of Derby, said: “The cost to the economy of mental health across the Midlands could be in excess of £45bn this year. Yet research shows that for every £1 invested in supporting the mental health of employees, the return to the employer in productivity is £5. Those returns are greater still when employers take preventative, rather than reactive, steps to help their staff.”

Around 1,900 employers took part in the first phase of project, exploring the issues of how mental health and wellbeing are currently dealt with in the workplace and its impact on performance.

Around a third of those taking part reported sickness absence among staff due to mental health issues, and a similar proportion recorded presenteeism, particularly in the hospitality and business services sectors.

Factors negatively affecting mental health of employees include: –

Lone or remote working
Client expectations on time, quality and cost
Job insecurity
Recruitment practices

Dr Holt added: “A healthy and inclusive workplace is essential for all businesses, so providing appropriate support for employees, creating a culture of openness and tackling discrimination and stigma, will help to remove some of the barriers to growth and development for firms.

“The research we have carried out shows that employers recognise that understanding how to address mental health issues effectively can boost morale, engagement and motivation, but also reveals that they are not always sure where to obtain the help they need.”

The pilot will link employers directly to initiatives such as Every Mind Matters, This is Me and Mental Health First Aid, which all provide expert guidance. Once embedded into an organisation, the guidance aims to help reduce the prevalence of mental health difficulties and increase productivity among the workforce.

The University is now offering businesses of all sizes and from all sectors in Derbyshire, Nottinghamshire, Stoke and Staffordshire, Shrewsbury and Shropshire, and Herefordshire the opportunity to work with them integrate effective mental health provision into their organisation.

Training courses which not only help to raise awareness but could be used to support continuing professional development (CPD) are also available.

Businesses taking part will be asked to commit to an initial meeting to discuss how the programme would work for their company, creating a roadmap for its success, and promoting their commitment to the pilot in the workplace.

To find out more about the pilot, visit the MHPP website: https://www.derby.ac.uk/business-services/midlands-engine-mental-health-and-productivity-pilot/

Why Mental Health Matters

Why mental health matters now, more than ever

We all have mental health, and just like physical health, this can fluctuate throughout our lives. If we cast our minds back to life before the pandemic, 1 in 6 UK workers are affected by mental health each year (Deloitte Research, 2020). Stress, depression, and anxiety account for almost half of working days lost.

With new stressors, including health anxieties, social anxieties, returning to the workplace, bereavement, pressures of caring responsibilities and other challenges brought about by the pandemic, there has never been a more important time to prioritise mental health and wellbeing.

There is so much information out there around mental health that Astute Recruitment have worked with the University of Derby and the Mental Health and Productivity Pilot, to pull together tips and resource that you may find beneficial.

TIPS FOR MANAGING YOUR MENTAL HEALTH

Talk about your feelings – these are valid and by acknowledging them you can take control and use a variety of techniques. Talking about your feelings can help you stay in good mental health and deal with times when you feel troubled.

Keep active – Regular exercise can boost your self-esteem and can help you concentrate, sleep, and feel better. Exercise keeps the brain and your other vital organs healthy and is also a significant benefit towards improving your mental health.

Eat well – Your brain needs a mix of nutrients in order to stay healthy and function well, just like the other organs in your body. A diet that’s good for your physical health is also good for your mental health.

Drink Sensibly- We often drink alcohol to change our mood. Some people drink to deal with fear or loneliness, but the effect is only temporary. When the drink wears off, you feel worse because of the way the alcohol has affected your brain and the rest of your body. Drinking is not a good way to manage difficult feelings.

Keep in touch -There’s nothing better than catching up with someone face to face, but that’s not always possible. You can also give them a call, drop them a note, or chat to them online instead. Keep the lines of communication open: it’s good for you!

Ask for help – None of us are superhuman. We all sometimes get tired or overwhelmed by how we feel or when things don’t go to plan. If things are getting too much for you and you feel you can’t cope, ask for help. Your family or friends may be able to offer practical help or a listening ear.

Take a break!

A change of scene or a change of pace is good for your mental health.It could be a five-minute pause from cleaning your kitchen, a half-hour lunch break at work, or a weekend exploring somewhere new. A few minutes can be enough to de-stress you. Give yourself some ‘me time’.

Do something you’re good at.

What do you love doing? What activities can you lose yourself in? What did you love doing in the past? Enjoying yourself can help beat stress. Doing an activity you enjoy probably means you’re good at it, and achieving something boosts your self-esteem.

Accept who you are.

We’re all different. It’s much healthier to accept that you’re unique than to wish you were more like someone else. Feeling good about yourself boosts your confidence to learn new skills, visit new places and make new friends. Good self-esteem helps you cope when life takes a difficult turn.

Some websites / apps you might find useful : –

Every Mind Matters Get Your Mind Plan – Every Mind Matters – NHS (www.nhs.uk)

Every Mind Matters offers a range of useful resources including information on signs of common mental health issues, practical self-care tips, and where to seek further support. It has a free NHS-approved online tool which will help you build a self-care action plan to deal with stress and anxiety, boost your mood, improve your sleep and help you feel more in control. Complete the Mind Quiz to get free resources, tools, information and signposting to help manage your mental health

Zen Buddy App

The Zen Buddy App offers support to individuals struggling with mild to moderate depression, anxiety, stress, as well as preventing mental health problems and post-treatment condition management. Whether it’s struggling to concentrate on work tasks due to the intrusive sadness/depression from having had a close bereavement; managing excessive demands/anxiety/stress, juggling work and home life, owing to the individual’s lack of assertiveness skills; or feeling under-valued and not having the respect of colleagues due to lacking emotional intelligence, Zen Buddy brings skills and techniques to your fingertips, and is ready to spring into action and help your workforce achieve positive mental health.

Anyone interested in signing up for the app, please email: [email protected]

Mental Health Charity MIND Home | Mind, the mental health charity – help for mental health problems

The MIND website has a wealth of information around managing your own mental health, supporting others, guides and resources, and accessing support services local to you.

Interested in supporting the mental health and wellbeing of your workforce?

The Mental Health and Productivity Pilot (www.mhpp.me) is funded by the Midlands Engine, offering businesses of any size and sector free support and guidance around enhancing the mental health and wellbeing of their workforce.

The programme aims to:

contribute to the reduction of mental health distress
break down the barriers to accessing care faced by people experiencing mental illness
support their continuation in, and return to, work
make a positive contribution to organisational productivity, in terms of wellbeing and economic outcomes

The University of Derby are supporting businesses across the D2N2, Stoke and Staffs, and the Marches by rolling out by working closely with key individuals within the business to ensure they have the confidence to open-up conversations around mental health, the training and resources to enable them to effectively signpost staff and strategies to enhance the culture within their organisation, ensuring it is a supportive environment for staff to open up about mental health.

If you are interested in hearing more, please complete the enquiry form on our landing page: –

https://www.derby.ac.uk/business-services/midlands-engine-mental-health-and-productivity-pilot/

And always remember, its OK to talk about mental health at work.

Someone is there to listen to you.

Sustainability, and the environment are really important to all of us at Astute Recruitment Ltd. We already have a sustainable environmental policy.

We already encourage a number of environmentally positive initiatives, but will be announcing a new one that our clients, candidates and team can all take part in soon!

With Glasgow’s current global climate conference, ‘COP 26’, underway, here’s a simple wish from all of us in the meantime: –

Now is our final warning
To avoid 6 degrees of warming
For those in power
Now is our critical hour

Not COP 27 OR 28,
Or it will simply be too late.

Right now we have to act –
Nations must agree, form a proper pact.
Not just empty words, but actions.
Clear plans, timelines ‐ no more distractions!

20 years ago, glaciers in the Himalayas,
Stood proud, 100’s of feet higher.
Coral in the Great Barrier Reef,
Weren’t bleached beyond belief.

From Attenborough to the Pope,
Their call to action really is humanity’s final hope

For our children and all of us living now,
How can we possibly allow,
The destruction of our beautiful blue pearl?
Allow uncontrolled distress to unfurl!

From heatwave to fire,
1000 year flooding and tides getting higher,

Let’s agree to make this November
A real turning point our ancestors will remember
For scientists and folk all-over the globe
This really is our final hope.

But, let’s not succumb to morbid doom,
Instead lets strive for ingenuity to bloom!
From Tim Berners-Lee to Archimedes –

We can be a brilliant species!

Lets innovate and work together,

To make our planet healthy again, and make all our lives better!

You can watch the inspirational David Attenborough giving his electrifying speech at Cop 26 by clicking on the video link below. His powerful words and message of hope are possibly the most important words uttered. https://www.youtube.com/watch?v=wzF1LLbSepk

We can all make a difference to help our environment.

We will be announcing some great ways our clients, candidates and friends of

Astute Recruitment Ltd can all help the planet.

Whether at work, in the home or socially, we can all

do our bit to help.

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: –

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.

Do you have ‘FORTO’ – fear of returning to the office?

Apparently, many of us do.

A survey of 2000 UK office workers commissioned by the Institute of Workplace and Facilities Management (IWFM) in March this year revealed 31% felt their employer was pressuring them to return leading to feelings of anxiety and stress.

IWFM’s ‘Returning to work’ research provides key insights into the thoughts, experiences, attitudes and concerns of the UK’s office workers as employers seek to establish new ways of working and wider adoption of hybrid working post-COVID-19.

Key takeaways from IWFM’s

‘Returning to the workplace’ research: –

The majority of UK employees expect a move to hybrid working
The vast majority of employees will expect a level of ‘hybrid’ working in the future – with nearly half (44%) of the workforce planning to work from the office for 3 days or fewer a week.
63% of employees now believe the office to be unnecessary – a rise of a fifth since the first lockdown (51%).
The demand for hybrid working is particularly strong for younger staff, with two-thirds (66%) of 18-24-year-olds admitting that not being offered flexible work patterns would cause them to look for a new job.
More than a third (38%) of this demographic felt their employer is pressuring them to return to the office – risking losing new talent.

As Chris Moriarty, Director of Insight at the Institute of Workplace and Facilities Management comments: ‘More than a year on, we continue to see employers striving to strike the right balance between remote and office working. The benefits of the office have not been forgotten, yet we continue to become accustomed and comfortable with our home working routines.

‘The truth is home versus office working should not be viewed as a binary choice between focus and connection. A true commitment to ‘hybrid working’ will give employees and employers flexibility to work in a way that is best suited to them – allowing them to reap the productivity and social benefits of both home and office working environments, how and when it best suits their needs. Employers should now make every effort to provide staff with genuine choice to perform their role wherever they feel their performance would be best supported – adapting the office space, incentives and policies to reflect the changing nature of the workspace environment.’

Over three-quarters (79%) of 18-24-year-olds believe that they will be equally as productive or more productive working from home.

This demographic is also working the most unpaid overtime from home – on average 11.6 extra hours a week – and has invested on average nearly £300 in creating a suitable working environment at home.

From speaking to all levels of accountancy and finance professionals our team has experienced most finance workers say that COVID has illustrated that most of their role can be effectively performed working from home. Finance Directors, CFOs, and Heads of Finance have said time and again that thanks to the implementation of additional technology and ‘smart working’ practices, their view is hybrid working – a blend of wfh and in the office – is here to stay.

Our view is that employers need to be flexible according to the sector of work employees are engaged in. Certain sectors – Sales, Creative/ Media, and others – need the face to face collaboration to bounce ideas off each other. Other sectors are able to be totally independent of the office environment, but for training and mental health reasons, a flexible approach is key.

Not so much cause for fear of returning to the office, more an opportunity for increased staff engagement and for managers to implement a great blend of flexibility that addresses individual’s needs and allow for continued business success.

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/

Happy #NationalUnicornDay – in honour of all finance recruiters who find that magical one-of-a-kind candidate!

Here at Astute, we have adopted our very own unicorn as our cuddly mascot! We felt it appropriate to celebrate these mythical creatures as we are always finding ‘unicorns’ for our clients! 😊

celebrating recruiters everywhere who find that one of a kind candidate — One of our MD’s Mary Maguire, having a socially distanced cuddle with our resident unicorn mascot!

ABOUT NATIONAL UNICORN DAY

National Unicorn Day on April 9th each year celebrates the mythical horse-like creature with a single, pointed horn growing from the centre of its forehead.

Unicorns have been a popular mythical creature since Ancient Greek times when people believed they lived in exotic India. While they were once considered to be fierce, powerful animals, many now see them as a symbol of love, purity, enchantment, and magic. They also appear in many movies and cartoons as magical creatures. Both adults and children find a fascination with unicorns. They also continue to find their way into fantasy novels alongside other mythical creatures.

WHAT TO DO ON #NationalUnicornDay

There are several ways to celebrate this fun day.

Try these fun ideas with some younger fans of unicorns: –

Make some brightly coloured unicorn-shaped pancakes or cupcakes. Decorate them with multi-coloured sprinkles or glitter.
Bake chocolate cookies in the shape of unicorns.
Watch a favorite movie including unicorns.
Draw a picture of a unicorn or write a story about one.
Read your favourite fantasy novel featuring unicorns.

Thanks to National Calendar who have also created a colouring page and a picture puzzle.

Can you spot the differences?

Use the key to see if you find them all!

It is with huge pleasure that we can announce our long-serving employee, Sarah-Louise Wykes, has just been awarded a well-deserved promotion to Director! As part of the ongoing development of our recruitment team, it is crucially important to reward success and see the careers of good people in our team flourish. We have a clearly defined career structure of promotion and career development for our staff, and it is wonderful to see someone achieve so much in our team.

Sarah-Louise originally joined Astute in 2012 after a successful career as an Assistant Accountant. With her hands-on experience in accountancy, she has been able to develop excellent, long-standing relationships with clients and candidates in the local East Midlands market.

From starting as a Trainee Consultant, Sarah-Louise achieved 4 promotions. After a break to follow an opportunity to recruit finance professionals internationally, we are delighted to announce that Sarah-Louise has just been promoted to Director after resuming her career with us in 2020!

A well-deserved promotion!

Our MD Sarah Stevenson said of Sarah-Louise’s promotion: – “I recruited Sarah-Louise into my team at Astute with no prior recruitment experience, but a great grounding in accountancy and finance and lots of ambition. She has always been quick to learn, and equally keen to develop. Sarah-Louise has been and remains one of the hardest working members of my team. To be able to help her career along, and watch her thrive and become the successful business person she is today is one of the proudest moments in my career.”

Mary Maguire, MD also had this to say: – “I’ve had the pleasure of knowing Sarah-Louise for many years now. Recruitment is a people business and you need colleagues in your team who are great listeners, communicators, and team players. Sarah-Louise has each of these attributes in abundance. I’m thrilled and delighted to welcome Sarah-Louise onto our Board of Directors, and look forward to many more successful years working with her.”

Expertise
All non-qualified, transactional finance staff, from ledger clerks to supervisors and managers, bookkeepers, assistant accountants, and aspiring part qualified accountants on a temporary, permanent, and contract basis within the East Midlands.

Email | Linkedin

225+

5 reviews

View our Google page

Leave a positive review

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.

C R.

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.

The University of Derby has invited Midlands businesses to sign up to employee mental health support scheme, and we are taking part too!

Take a break!

Do something you’re good at.

Accept who you are.

Zen Buddy App

https://www.derby.ac.uk/business-services/midlands-engine-mental-health-and-productivity-pilot/

And always remember, its OK to talk about mental health at work.

Someone is there to listen to you.

Sustainability, and the environment are really important to all of us at Astute Recruitment Ltd. We already have a sustainable environmental policy.

We already encourage a number of environmentally positive initiatives, but will be announcing a new one that our clients, candidates and team can all take part in soon!

With Glasgow’s current global climate conference, ‘COP 26’, underway, here’s a simple wish from all of us in the meantime: –

Lets innovate and work together,

To make our planet healthy again, and make all our lives better!

We can all make a difference to help our environment.

We will be announcing some great ways our clients, candidates and friends of

Astute Recruitment Ltd can all help the planet.

Whether at work, in the home or socially, we can all

do our bit to help.

First, ‘WHAT IS ACCOUNTANCY?’

Where did Accountancy come from?

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

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

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

1) Financial Accounting

2) Management Accounting

3) Cost Accounting

4) Auditing

5) Forensic Accounting

6) Accounting Information System – or System Accountants

7) Tax Accounting

8) Fiduciary Accounting

9) Nonprofit Accounting

10) Social Accounting

USEFUL LINKS: –

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.

Our Astute seafaring ode to accountants everywhere: –

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: –

Do you have ‘FORTO’ – fear of returning to the office?

Key takeaways from IWFM’s

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

ABOUT NATIONAL UNICORN DAY

WHAT TO DO ON #NationalUnicornDay

The University of Derby has invited Midlands businesses to sign up to
employee mental health support scheme, and we are taking part too!

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