Staffing Archives - Astute Financial

“In todays’ talent starved candidate pool, how many interviews is the right amount of interviews to get the best candidate?”

Born from a genuine conversation between a senior recruiter here at Astute Recruitment with a client for a Head of Finance role we are recruiting for: –

OUR CONSULTANT: “Great I’ll get the first interviews arranged, how many interviews did you want to have in your process?

THE CLIENT: “5, is that normal?”

OUR CONSULTANT: “Typically a 2-interview stage process is the norm. 3 stages are acceptable for a CFO/ FD role, but 4 interviews is getting silly, let alone 5! The candidates won’t be available for a 5-stage process, they are already interviewing for other roles which are 2 stop processes, and they will get snapped up.”

THE CLIENT: “Oh, I see, yes I’ll speak to the Directors, and we can streamline the process to 3 as we are pretty confident with the shortlist you have provided! Thank you for the advice!”

So, we wanted to raise this question.

“In todays’ talent starved candidate pool, how many interviews is the right amount of interviews to get the best candidate?”

As a niche specialist in sourcing finance professionals, our team regularly give consultative advice around this and other recruitment issues. Why do we feel the two-interview process is best?

We give you example ‘A’.

A UK Group FD needs a senior financial reporting accountant for a permanent role. The client realises that the role profile is a difficult one – someone ACA or ACCA with original practice background who is looking for their second move from practice, already having a role in industry.

We shortlisted 2 great options and the client agrees that they would like to arrange interviews in short order. We have told them that both are in play for other roles.

The client’s process.

Initial interview consisting of a presentation around key objectives in the role and around what the candidate’s envisage their first 3 – 6 months looking like. What they plan to bring in and how they would deliver specific projects etc. The second part of the first interview will be to discuss these with the FD.

The second interview? Aiming to drill into more depth about the candidate’s vision, aspirations and attributes relevant to the role and business they are interviewing for. There would be 2+ representatives from our client and a good opportunity for open, two-way questions from the candidates and the client.

Then a decision would be made, with an initial verbal offer and a ‘meet the team’ opportunity.

Example ‘B’.

A global corporate and valued client has been looking for a qualified accountant to work in their Global Head Office. Specific criteria mean that FBP and analysis skills are essential requirements.

The client’s interview process?

After shortlisting just two exceptional applicants, a first interview was conducted with the overall line manager for the team. This detailed interview enabled the manager to ask incisive questions around the candidate’s expectations, where they wanted their career to develop and why they would be great for this role.

The second interviews, which have just been concluded, consisted of online interviews with senior stakeholders the relevant candidates would be working with should they be successful! The client’s stakeholders were able to give a ‘warts and all’ appraisal of the role, the good, the bad and the ugly if you like!

The line manager specifically wanted this honesty in the process, and we entirely agree!

Then there would be a ‘de-brief’ with the feedback discussed internally and an offer of employment to one of the candidates within 24-36 hours. As the preferred recruitment partner for our client – we are completely aligned with their process, can ensure our candidates are aware of timelines and everyone’s expectations can be fully managed.

For lower level/ more junior roles across transactional finance, swift interview processes with agreed timelines are equally important to ensure that good candidates are not lost due to quicker recruitment processes elsewhere.

Key points to take away:

According to a survey 62% of finance professionals say they lose interest in a jobif they don’t hear back from the employer within two weeks – or 10 business days – after the initial interview. That number jumps to 77% if there is no status update within three weeks. Our qualified recruitment team totally agrees!

26% of respondents to the survey said they would leave a negative comment anonymously on review sites if they felt like they were being strung along, potentially harming the chances for the company to attract top talent down the road.

If a company is indecisive, it can provide a candidate with crucial insight into the company’s culture. “If the decision-making process is this difficult for the organisation – if they’re not able to pull the trigger after three or four interviews and you’ve done everything asked of you and they’re still unsure – then that’s a key indicator of what it might be like to work for that organisation and those managers,”

An often missed point in a recruitment process is that the process itself is an opportunity for the employer brand to really shine!

Not just to the successful candidate but to all candidates who are part of the process.

A good, professional recruitment process can provide a glowing image of the business and the way they conduct themselves. This can mean increased perception in the market as an employer brand of choice and can create an appetite in potential hires that they want to work for such a great company that take their employee selection process seriously.

It can also create an appetite amongst key recruitment partners whether internal recruiters, external HR professionals or specialist recruitment agencies/ consultants that this is a great company to flag to talented new applicants/ candidates.

“So, be Astute and to recruit the best

candidate for your opportunity.

Make your recruitment process the

best, smoothest and most efficient it can be.”

You could be attracting an A Player of the future, even a business referral!

Our Qualified Team are happy to give confidential advice if you are a client thinking about a potential recruitment process, or if

you have any other questions around recruitment.

Our Qualified Recruitment Team: –

Andy Lilliman – Recruitment Manager

Qualified Permanent – City of London & Greater London [email protected]

Richard Bowe

Interim Qualified – East Midlands [email protected]

Tom Norton

Qualified Permanent South Derbyshire, South Notts, Staffordshire [email protected]

Harry Langridge

North Derbyshire, North Notts

[email protected]

Matthew Morgan

Nottingham City Centre and Central Notts [email protected]

This topic is discussed in more detail with some great comments from actual people – from recruiters to real candidates – discussing their experiences: https://www.bbc.com/worklife/article/20210727-the-rise-of-never-ending-job-interviews

Other articles by Mary on career tips, business strategy, tips to recruit the right person and more are below!

How to boost your employer brand and achieve success!

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”

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]

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

#BeAstute – Childrens Mental Health Week 2021 “I’m enough as I am said the boy”

What inspires children can so often inspire all of us…

“What’s your best discovery?” asked the mole.

“that I’m enough as I am” said the boy.

I love this quote by Charlie Mackesy in his award-winning 2019 book, The Boy, The Mole, The Fox And The Horse.

My son was given this book to inspire him and all the then year, 6 pupils, in his school.

He’s kept it.

The other day, he came up to me in my upstairs bedroom (aka ‘office’ 🤣) and said,

“Mum, this is a really great book!”.

“Can I have a read?” I asked.

” ‘course you can Mum, but I want it back!”

Half an hour passed in the blink of an eye as I read beautiful and moving pearls of wisdom. Whilst written a couple of years ago, this is a timeless, wonderful book for kids and adults alike.

The gentle words wash over you, giving you a warm hug of reassurance.

And we all need a hug right now. ❤️❤️

Thank you Ashbrook Junior School!

Thank you Charlie Mackesy for creating such a heartwarming, wise and beautiful book.

A book for the best of times, and the hardest of times too. It’s a brilliant book to recommend to all those parents working from home for their children, especially during this special children’s week dedicated to raising awareness of child mental health.

It’s a beautiful, and rare book that can befriend a child and also captivate adults too.

A lot of parents are struggling to juggle their work and jobs from home whilst overseeing their children’s schoolwork at the moment. As a parent and an employer of staff with children, its really important to highlight and recommend great opportunities to help hardworking parents reassure their kids.

There is a great organisation called Children’s Mental Health Week

where you can access a video from their Royal Patron, HRH The Duchess of Cambridge’s video message to mark the start of the week.

Their Virtual Assembly with BAFTA and Oak National Academy is now available to view and share – featuring Jodie Whittaker, Oti Mabuse, Matthew Lewis, and many more…

If you would like to read more articles and posts on employment, recruitment, careers, mental health, and more, please follow Mary and our company page for Astute Recruitment Ltd on LinkedIn and Facebook.

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/

7 astute steps to successful cash flow management collaboration by an expert!

Cash is King! Having an accurate measure of your company’s cash is always critical, now more than ever. Here at Astute, as part of a new series of articles, we are sharing 7 simple steps to guide you, in collaboration with a fully qualified accountant and expert in providing cash flow advice and more to SME businesses and larger organisations.

David Thorley is an experienced, fully qualified Finance Director with a proven career in managing the financial tillers of several businesses. Together, we wanted to share his 7 steps to achieve successful cash flow management.

Over to David….

“We need a 13-week cash flow!

An all too familiar phrase that I have heard over the years from banks and finance providers and in these uncertain times an especially challenging request even for experienced number crunchers!

You can, however, meet this challenge using the following simple tips: –

1. Communication with your finance provider is crucial – whatever the reason, DO NOT make promises you know you cannot keep and DEFINITELY DO NOT say it can’t be done!

2. Very few businesses can accurately predict cash flows, but everyone can make an informed forecast.

3. The past may not be an accurate predictor of the future, but it can be an indicator! Summarise the cash flows over the previous 6 – 12 months over key headings and use for forecasting future trends.

4. All forecasting relies heavily on assumptions that identify the key sensitivities (e.g. you could be predicting quarterly rent payments being agreed to be deferred or moved to monthly).

5. Look for seasonal fluctuations in income or expenses – right now this could be forecasting recovery of previous levels of sales over a 3 to 6-month period.

6. It’s not unusual for the balancing number (to keep within the facility), to be payments to creditors and, in times of extreme cash pressure, this is inevitable; but again, communication is vital to avoid going on stop with crucial suppliers.

7. You may need to prepare more than one forecast – based on different assumptions. Again communicate the basis of the chosen forecast when it is shared.

The most important point is to always try to anticipate potential issues. Banks particularly appreciate early warnings especially if it is a potential breach of facility as it indicates a degree of control.”

Great tips so thank you David!

If you need a cash flow expert in your team, call Astute and we would be delighted to assist you.

We will be issuing more articles and tips on a wide range of accountancy, finance, HR and recruitment issues in collaboration with experts in these fields.

If you have found this article informative and helpful, please let Mary Maguire at Astute Recruitment know as feedback is always welcome. Feel free to share this article with others who you feel could find this useful.

#cashflow #CashIsKing #accountancy #finance #financedirector #cfo #financetips #BeAstute

Mental Health Week Can Your Business Afford to Ignore Mental Health?

We investigate the key impacts, costs, AND savings to companies of mental health at work.

Mental health has increasingly been highlighted as a key factor in business and employee performance, success and productivity.

This year’s Mental Health Week has special importance with the global fight against covid sars 2. Millions of workers, everywhere, across the world have been impacted.

Some working remotely, some furloughed. Some facing redundancy. Some already recently made redundant.

People’s work suroundings and working conditions have been turned upside down in just a few, short months, and whilst efforts to crank up the wheels of industry are in motion, the working landscape is likely to have been changed forever.

Nearly 1 in 7 people, almost 15% suffer some degree of mental health problems at work.

Men in full time employment are half as likely as women to experience mental health problems.

Nearly 13% of all staff absences in the UK can be attributed directly to mental health conditions.

According to research, improvements to mental health frameworks at work could equate to over £8bn in savings for UK businesses alone!

In today’s uncertain ecconomy, business owners, Finance Directors and senior management are more conscious than ever to seek good returns on investment and save money and more importantly improve staff engagement, morale and resilience.

What better way than to invest in staff?

But what are the cost benefits? How can this improve my balance sheet and company performance?

According to The Mental Health Foundation, workplace interventions including employee screening and care management strategies for those living with (or at risk of) depression was estimated to cost £30.90 per employee for assessment, and a further £240.00 for the use of CBT to manage the problem, way back in 2009 alone.

An economic model conducted in a company of 500 employees where two thirds are offered and accept the treatment, an investment of £20,676 will result in a net profit of approximately £83,278 over a two year period.

So, how can employers, HR teams, business leaders put in place policies to effectively improve employee wellbeing and mental health in their workforce?

Make it personal.

Employ personalised, tailored information for staff

Create bespoke advice specific to your staff, your business and working environment

Create risk assessment questionaires

Encourage staff to watch online seminars

Implement online workshops using experts

Use experts. You don’t have to do this alone. Use businesses like Precise HR Ltd, who can give honest, tailored advice specific to your company, workforce, industry and importantly, your budget!

The cost?

Approximately £80 for every employee, for 12 months.

The saving?

According to the Mental Health Foundation, for a company with 500 employees, where all employees undergo interventions, it is estimated that an initial investment of £40,000 will yield a net return of £347,722 in savings. Mostly due to reduced presenteeism (lost productivity caused by an employee working while ill) and absenteeism (work hours missed due to ill health).

In another article by Michael Parsonage and Geena Saini, their report highlights that mental health problems in the UK workforce cost employers almost £35 billion just 3 years ago.

They broke down the overall costs as follows: –

£10.6 billion in sickness absence;
£21.2 billion in reduced productivity at work, or ‘presenteeism’
£3.1 billion in replacing staff who leave their jobs because of their mental health.

So, conclusively, the costs of ignoring mental health for your employees, simply can’t be ignored.

More useful links for detailed reports, information and advice on Mental Health issues: –

The Mental Health Foundation

Precise Hr Ltd

The Centre For Mental Health

The UK Government’s Latest Advice on Mental Health and Wellbeing

…………. Below 2b curated…….

References

Lelliott, P., Tulloch, S., Boardman, J., Harvey, S., & Henderson, H. (2008). Mental health and work. Retrieved from gov.uk/government/uploads/system/uploads/attachment_data/file/212266/hwwb-mental-health-and-work.pdf

Stansfeld, S., Clark, C., Bebbington, P., King, M., Jenkins, R., & Hinchliffe, S. (2016). Chapter 2: Common mental disorders. In S. McManus, P. Bebbington, R. Jenkins, & T.Brugha (Eds.), Mental health and wellbeing in England: Adult Psychiatric Morbidity Survey 2014. Leeds: NHS Digital.

ONS. (2014). Full Report: Sickness Absence on the Labour Market, February 2014. Retrieved from webarchive. nationalarchives.gov.uk/20160105160709/http://www.ons.gov.uk/ons/dcp171776_353899.pdf [Accessed 28/07/16].

Sainsbury Centre for Mental Health. (2009). Briefing 40: Removing Barriers. The facts about mental health and employment. Retrieved from ohrn.nhs.uk/resource/policy/TheFactsaboutMentalHealth.pdf

Knapp, M., McDaid, D., & Parsonage, M. (2011). Mental Health Promotion and Mental Illness Prevention: The Economic Case. Retrieved from gov.uk/government/uploads/system/uploads/attachment_data/file/215626/dh_126386.pdf [Accessed 02/07/16].

Think of St George and you’re probably picturing a heroic knight, slaying a ferocious, fire-breathing dragon! As the country’s patron saint, today, the 23rd April 2020 St George’s story is as iconic as his white and red flag.

However, like many early saints, the exact details of his life remain a mystery. Here, we separate the facts from the fiction, establishing the truth behind the legend of St George.

1. ST GEORGE WASN’T ENGLISH!

St George might be hailed as a national hero, but he was actually born – in the 3rd century AD – more than 2,000 miles away from England in Cappadocia (modern-day Turkey).

He is thought to have died in Lydda (modern-day Israel) in the Roman province of Palestine in AD 303. It is believed that his tomb was in a place called ‘Lod’, a centre of Christian pilgrimage.

2. ST GEORGE WASN’T A KNIGHT!

Often portrayed as a knight in shining armour, the truth is less fanciful.

Whilst St George was depicted from the 11th century as a heroic knight or a warrior on horseback, it is more likely that he was a humble officer in the Roman army.

3. ST GEORGE WAS A MARTYR

Like many saints, St George was described as a martyr after he died for his Christian faith. It is believed that during the persecutions of the Emperor Diocletian in the early 4th century, St George was punished by execution, for refusing to make a sacrifice in honour of the pagan gods at that time.

4. HE NEVER VISITED ENGLAND!

Yep, St George never actually visited England. However his reputation for virtue and holiness spread across Europe and his feast day – the 23rd April – was celebrated in England from the 9th century onwards.

He became popular with English kings. Edward I (1272-1307) had banners bearing the emblem of St George (a red cross on a white background) and Edward III (1327-77) had a strong interest in the saint and owned a ‘phial’ or ‘relic’ of his blood. It was not until the reign of Henry VIII, that the cross of St George was used to represent England.

5. THE DRAGON WAS ADDED LATER

The story goes that St George rode into Silene (Libya) to free the city from a dragon who had a taste for humans, but it’s a story that post-dates the real George by several centuries!

Images of George and the dragon survive from the 9th century – 500 years after his death. Originally these may simply have been symbolising the battle between Good and Evil. In the Middle Ages, the story was developed and popularised in a compendium of stories about saints’ lives called ‘The Golden Legend’.

6. ST GEORGE WAS A SAINT FOR 1000 YEARS BEFORE THE ‘HOLIDAY’

St George was canonised in AD 494 by Pope Gelasius, who claimed he was one of those ‘whose names are justly revered among men but whose acts are known only to God’.

A feast day of St George has been celebrated in England for hundreds of years on 23 April, which was possibly the date of his martyrdom. Following the Battle of Agincourt in 1415, St George’s Day became one of the most important feast days in the English calendar.

7. ENGLAND ISN’T THE ONLY COUNTRY TO CELEBRATE ST GEORGE

St George is truly an international saint and England is not the only country or region to claim him as its patron. Something that in todays multi-cultural England, ought to be celebrated!

England shares St George with Venice, Genoa, Portugal, Ethiopia and Catalonia among others as their patron saint and many of these places have their own celebrations and ceremonies in his honour.

8. PEOPLE TURNED TO ST GEORGE FOR PROTECTION

During the Middle Ages, people believed that St George was one of the ‘Fourteen Holy Helpers’ – a group of saints who could help during epidemic diseases. St George’s protection was invoked against several nasty diseases, many fatal and with infectious causes, including the Plague and leprosy. It is a shame we cannot invoke his name to defeat the Coronavirus!

From around 1100, St George’s help was also sought to protect the English army. In William Shakespeare’s Henry V, the monarch calls on the saint during his battle cry at the Battle of Harfleur in the famous, “Once more unto the breach, dear friends” speech, crying “God for Harry! England, and St. George!”

Five hundred years later – during the First World War – a ghostly apparition of St George is said to have aided British troops during their retreat from Mons, and the naval commander of the Zeebrugge Raid, cited the saint as inspiration!

9. ST GEORGE REPRESENTS THOSE WE HONOUR

The Order of the Garter (founded by Edward III in 1348) is the very highest order of chivalry in the country, with Queen Elizabeth II at the helm as ‘Sovereign of the Garter’.

To this day, St George’s cross still appears on the Garter badge and his image is the pendant of the Garter chain.

In 1940 King George VI created a new award for acts of the greatest heroism, bravery or courage in the face of extreme danger. The George Cross, named after the king, bears the image of St George vanquishing the dragon. The image of St George also adorns many of the memorials built to honour those killed during World War One.

Poignantly, perhaps in 2020, we should use this legendary award for bravery to honour the frontline workers and NHS staff working so valiantly to help those affected by the Coronavirus and COVID-19.

Some really interesting statistics and analysis came to light following a survey concluded by CIMA at the end of January 2017. More than half (55%) of the qualified accountants who responded, cited flexibility and a greater work-life balance as their biggest motivations when looking for and considering a new job. This is a big increase from the 37% in 2015 according to research by the Chartered Institute of Management Accountants (CIMA).

The 2016 salary survey conducted by CIMA utilised 3,460 student accountants, CIMA members and 4,467 qualified CIMA members. This report established that 52% of qualified accountants who responded were motivated by financial rewards alone.

Other key takeaways: –

42% of qualified accountant respondents cite a good working environment as their main motivator.
More than half (53%) of student accountant respondents are influenced by financial rewards when considering a new role.
36% of student accountants responded that they are motivated by a good working environment when considering a new role.

Here at Astute we feel that it is increasingly likely that finance professionals and their employers will place increasing significance on being able to participate in and offer flexible working hours outside the 9 – 5. Attracting and retaining talented staff is always key. In an increasingly competitive market, employers slow to adopt new, fresh flexible benefits could be missing out on hiring the best talent for their teams.

However what the research also indicates is the greater importance on career development rather than flexible benefits by CIMA Students. Their focus remains seeking career building opportunities offering the best and widest experience. In contrast the more experienced hire seems to be saying they need an employer who can flex around their personal and private commitments (e.g. childcare, elderly relatives etc.).

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.