Market Update – November 2015

The Recruiter has reported REC’s (Recruitment & Employment Federation) findings for the month which state that “Permanent and Temporary job placements grew at their fastest pace since the summer” this combined with a fall in available candidates, means that the recruitment industry is currently a jobseekers market.

However The Recruiter has also stated that “Accounting/Financial remained the most sought-after category for permanent staff in October. This combined with the CIPD’s report, that the competitive nature of the financial sector is due to a skills shortage means that the financial sector remains a relative competitive market for recruitment.

The lack of available candidates per role with the correct skills set has meant that companies have had to look at alternative ways of recruiting. This includes “up-skilling existing staff (48%)” rather than attempting to look for those skills externally. They are also employing from overseas (23%) and “hiring more apprentices” (27%) according to a report published by the CIPD (Chartered Institute of Personnel and Development) earlier this month.

As we approach the winter months, recruitment usually begins to slow down until the New Year. However, Chilworth Partnership and Venture Recruitment Partners have been experiencing a rise in client requests for recruitment and the number of candidates looking for a new role which we believe will continue right through until December.

Counter Offers – Why you shouldn’t accept them

Counter-Offer, a Gift Horse to look in the Mouth

Good candidates are incredibly difficult to find, particularly in a buoyant job market. It’s amazing how many employers suddenly see what a good employee they have – once they are faced with the prospect of losing them. It’s flattering to be offered more money and possibly better career prospects if you stay. It’s also so much easier to stay with an employer you know and of course with whom you have a track record of success.

But what are the facts? Did you know that 81% of candidates who are counter-offered leave within six months? The offer of newly-improved employment conditions typically result from short-term employer expediency. Despite the promises of improved pay, better prospects and new found responsibilities the environment hasn’t changed and the same feelings of dissatisfaction linger. Who stands to gain more from you staying put – you with two offers in your hand and the promise of better pay and prospects or your employer who will need to start a search for another you in a market where good candidates are hard to find and there will be a lead period of at least a few months while the new you is being trained and inducted?

So with at least two offers in your hand, how do you weigh them up?

Firstly, you should expect to be counter-offered. Good candidates are hard to find, so why wouldn’t your employer do this? However, know the reasons you want to change jobs in the first place.

Examples:

·  Lack of Career Development opportunities

·  Lack of support from your team or Manager

·  Bored and want something more challenging

·  You want to take the next step in your career i.e. promotion from current level

·  Travel – you want more or less

·  Work/Life balance – i.e. flexibility, work from home

·  Require study support

·  Better package i.e. healthcare, car allowance, pension scheme

·  Lengthy commute

·  Relocation

Whatever the reason(s), it was a deal breaker, which is why you have been looking for a new job.

·  If your boss is now offering you more money because you have handed in your resignation, consider the reasons why – especially if you have approached this subject before and walked away empty handed.

–     Do you believe it is because they have realised you are a valuable member of the team or is it because they do not want to deal with the hassle of redistributing your work and finding your replacement.

–     Your Manager is worried Department Morale will suffer if employees are leaving the company.

–     Companies want to have a low turnover rate and resignations do not look good on a manager’s record.

–     Projects you were working on will suffer delays.

–     Your employer may not want sensitive or confidential information going to a competitor.

–     Your employer will not want a skilled professional working for the competition.

–     If you are tempted to take the counter offer consider what else would change if anything. If money is the only motivation for looking for a new role consider the struggle you will have to gain a pay increase in the future, counter offers usually come out of your next raise or promotion.

–     Think about how much money it would cost the company to replace you in comparison to the counter offer, is it a fair reflection or a small bribe?

So, if you accept the counter-offer sucker-punch what are your prospects?

1.     Nothing else will change

–     The same frustrations and dissatisfaction that you had prior to the counter offer will still  be there after you have accepted the money, this will only increase over time and when you come to looking for a new job again that perfect role might not be available.

2.     Your relationship with your manager will not be the same

–     When you hand in your resignation you are in the position of power and your manager will feel the stress of replacing you. If you accept a counter offer the power will revert back and your manager could quickly harbour feelings of resentment and the idea that you are a possible flight risk and could leave at any time.

3.     Diminished job security

–     If cuts are necessary in the future, your manager will remember that you had intentions of leaving and hold that against you when it comes to making decisions on who will be leaving the company. Remember your manager asked you to stay for his own benefit!

–     A counter offer can be used as nothing more than a stall tactic in order to give them time to find your replacement.

4.     Likely to leave soon after anyway

–     81% of candidates accepting the counter-offer do so within six months. With this in mind it is likely that the reasons you are looking to move now are the same reasons you will be looking to move in 6 months’ time.

So, if 81% of candidates who accept counter-offers end-up leaving within 6 months, carefully consider whether you are genuinely one of the one in five for whom accepting a counter-offer sometimes works. You may be special, you may be hard to replace and that’s all very flattering but don’t stay put just because it’s easier. High achievers rarely become so by choosing the easy option.

Charity & Contributions for 2015

Looking back over the year, we have been involved in supporting some fantastic causes!

We would encourage everyone to get involved in whatever way they can, whether it is participating in a sporting activity, running, campaigning, baking – as we did for Macmillan’s coffee morning or even sponsoring colleagues and friends to do so, can make all the difference.

Take a look at the charities we have been sponsoring this year:

Tree of Hope 

Macmillan Cancer Support 

Alzheimers Society 

Harbour Cancer Support Centre

Naomi House 

Cancer Research 

Happy Anniversary Chilworth Partnership!

Chilworth Partnership is celebrating our 5 year Anniversary!

In other news the Chilworth Partnership will be celebrating our 5 year Anniversary on October the 8th and we couldn’t be more excited! It is taking place at the Chilworth Manor Hotel between 6-8pm. We would be delighted if you could help us celebrate by joining us for drinks and canapes.

The past 5 years have felt like 5 minutes and yet the company has established itself as a trusted and unique business within the local market. We owe our continued success to the relationships we have built up with both candidates and clients alike. We are hosting this event to say thank you to all those have supported us and to celebrate the continued success of the business.

If you would like to attend our Anniversary event please let us know via email atHolly@chilworthpartnership.co.uk

Market Update – September 2015

The slow summer months are officially over and September brought with it a flurry of activity for the Chilworth Partnership and Venture Recruitment Partners.

We are currently working a number of exciting retained roles including building a new finance team for the new My Local Convenience Group, a 140 strong convenience store business, born out of the ashes of Morrison’s M Local.

Trends in recruitment are constantly changing with old philosophies, such as a career for life being put to one side in favour of new prospects and a developed and varying career path. The job board Indeed has published a Candidate Attraction Report which states that 68% of people in employment are at least passively looking for new roles and staying up to date with the market, with 58% of people looking every month. The Recruiter has highlighted that the market is becoming more and more competitive especially in the East of England, the Home Counties and London.” Despite the competitive nature of the market ONREC, an online recruitment resource, has stated that there is also a “30% increase in available jobs”.

These trends have boosted the market and the general pace of the recruitment industry allowing for a higher demand of recruitment agencies to quickly turn around roles. ONREC has reported that “confidence in UK recruitment firms remains high. It found that recruitment agencies had a net satisfaction rating of 93%”stating that “89% of hirers are satisfied with the quality of candidates being presented.” These percentages highlight what we already know, that working with recruitment companies is the best way of navigating the employment market successfully.

Market Update July 2015

The summer months usually signal a slowdown within the recruitment industry as candidates and hiring manager’s alike jet off to enjoy the summer sun. 

However, Chilworth Partnership and Venture Recruitment Partners have been extremely busy over the last few weeks. Both businesses have managed to acquire a number of exciting retained roles with businesses such as CooperVision and Bainbridge Ltd.  We have also successfully introduced into a variety of companies several candidates these are key indicators that the recruitment market is definitely continuing to grow.

The Organization for Economic Cooperation and Development (OECD), stated that the UK experienced strong economic growth in 2014 which is “projected to continue at a solid pace in 2015 and 2016”.   However, The BBC recently posted an article explaining that the country’s growth forecasts have come down from 2.7% to 2.4% for 2015. Uncertain events, such as a “still sluggish Eurozone, renewed uncertainty over Greece’s economic future, and the in/out referendum on the UK’s EU membership” are highlighted as impacting factors.Both groups have commented that greater investment into the UK’s industries is required in order to revive labour productivity, wages and competitiveness” and bring the economy back to its full strength.

Despite these uncertainties causing a temporary slowdown in the UK’s economic growth, the local recruitment industry is thriving.  According to The Recruiter, 20% of jobs advertised across the country are based in the South-East and this is only second to that of London with 24%. July and August, traditionally, are the quietest months for recruitment, but with the combination of unemployment rates gradually declining and salaries steadily increasing, this certainly has not been the case!

If you are looking to secure your next executive and qualified accountancy role, please do not hesitate to get in touch for details about the positions and assignments we are currently handling. These can be viewed on both the Chilworth Partnership website and the Venture Recruitment Partners website, or find us on FacebookTwitterLinkedIn and Google+ for further exclusive information.

For information about how we can help your business to fulfil its recruitment needs, or to seek advice on your next career move, visit www.chilworthpartnership.co.uk and www.vrpartners.co.uk.

Market Update – May 2015

The end of the election signals the fast approach of summer and with it the market is also looking much brighter. The uncertainty that shrouded the election has cleared and there are distinct signs of an improvement in the economy. Chilworth Partnership & Venture Recruitment Partners are already experiencing this growth with a pick-up in both permanent and interim assignments

To quote Sue Dodd, VP of Agile Intelligence, “There is a definite feel out there that we are at the beginning of a good few years of growth.” This, along with the growing strength of the British Pound and the FTSE 250 soaring to an all-time high, heavily indicates a year of growth for the UK across the business industry as a whole. This trend appears to be greatly reflected within the accountancy sector this year, which is echoed by Fortune. They named Accounting to be “One of the 6 most promising industries for the class of 2015”, predicting 18% growth between now and 2020. Fortune also anticipate a rise in demand for accountancy services as companies are committing more investment in strategy in order to take full advantage of the current economic climate.

In local news, the Chilworth Partnership & Venture Recruitment Partners hosted their bi-annual Business Breakfast last week, which was extremely successful. Our Speaker, Ex RAF Tornado Pilot Mandy Hickson, delivered an incredibly inspiring insight into coping with high pressure situations. Whilst Mandy’s tales of dangerous missions were indeed thrilling, it was her business world application of the lessons learned over her career that had everyone talking. This continually successful event is not one to miss, so keep an eye out for our next invitation!

If you are looking to secure your next senior accountancy role or interim assignment please do not hesitate to get in touch for details about the positions and assignments we are currently handling. These can be viewed on both the Chilworth Partnership website and the Venture Recruitment Partners website, or find us on Facebook, TwitterLinkedIn and Google+ for further exclusive information.

For information about how we can help your business to fulfil its recruitment needs, or to seek advice on your next career move, visit www.chilworthpartnership.co.uk and www.vrpartners.co.uk.

Market Update – April 2015

With the weather taking a positive turn in mid-April, Chilworth Partnership & Venture Recruitment Partners have likewise looked to turn up the heat in the recruitment sector.

The month of April has seen further development on previously secured assignments, including a UK & International Tax Manager role at the outdoor lifestyle retailer, FatFace. As well as progressing with previously retained roles, Chilworth and Venture have managed to place another 4 candidates on an interim and permanent basis to a selection of reputable clients.

With the impending May General Election uncertainty has increased within the job market. In the latest Deloitte CFO Survey, the General Election is of some concern to major organisations. When asked to rate the level of risk posed on a scale of 0 to 100, CFOs attached a 63 rating to the General Election – significantly higher than the 56 attached to deflation of the Euro or the 39 points awarded to further cuts in spending. However, despite a pessimistic outlook for the imminent future, Anne Swain, Chief Executive of APSCo (Association of Professional Staffing), explains that this is very much a short term issue.  Swain states that there will likely be a “flurry of hiring activity in the early summer months”. The fact that Deloitte has found that CFOs believe business investment in the UK will rise by 9% this year – higher than other major industrialised nations – indicates real optimism in the future of the UK economy.

The Business Breakfast to be hosted by Chilworth Partnership & Venture Recruitment Partners is now little over a month away and places are being reserved at a rapid rate. Therefore, we stress that you will need to book your place as soon as possible in order to avoid disappointment. Our business speaker, former RAF pilot Mandy Hickson, will be giving a presentation which focuses on how to cope with pressure in highly demanding situations.

If you are looking to secure your next senior accountancy role or interim assignment please do not hesitate to get in touch for details about the positions and assignments we are currently handling. These can be viewed on both the Chilworth Partnership website and the Venture Recruitment Partners website, or find us on Facebook, TwitterLinkedIn and Google+ for further exclusive information.

For information about how we can help your business to fulfil its recruitment needs, or to seek advice on your next career move, visit www.chilworthpartnership.co.uk and www.vrpartners.co.uk.

‘High Flying’ Mandy Hickson to present at Business Breakfast

Chilworth Partnership and Venture Recruitment Partners are delighted to announce that former RAF pilot, Mandy Hickson, will be giving a presentation titled ‘Realising Goals in High-Pressure Situations’ on Thursday 21st May at their next Business Breakfast.

Mandy was one of the first female pilots to serve in a front line Tornado GR4 squadron, taking an active role in the Iraq conflict. From a very young age, she was obsessed with flying and applied to join the RAF while at university. Despite failing the computerised tests twice, which Mandy described as ‘devastating’, her commanding officer believed she had what it took to make it so he asked for two impartial instructors to come and fly with Mandy and they graded her as above average. She stated that “I had a computer saying I couldn’t fly and instructors saying I could, so theydecided to take me on as a test case. Women had only just been allowed to become pilots and they couldn’t understand why they were disproportionately failing the aptitude tests, so they tried to see if I could prove the system wrong, and I did.”

Instructors passed her application and she was soon on the path to joining an elite group of fast jet pilots and, after twenty years’ service, she now talks about the personal and strategic lessons learned with frankness and appropriately wry humour. From motivation to decision-making, Mandy gives a vivid insight into the leadership, teamwork and communication required to define and then realise specific goals in high-pressure situations. She also highlights the value of honest and open debriefing after any project or phase; something the Royal Air Force always do, but which businesses often overlook.

The Business Breakfast, which is taking place at the Chilworth Manor, is scheduled to begin with a Full English Breakfast being served from 7.45am, with Mandy starting at approximately 8.15am. The presentation will then be concluded by a Q&A session. An invitation for this event is due to be circulated very soon, with demand for places expecting to be high. Therefore, we stress that invitations are responded to as promptly as possible in order to avoid disappointment.