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Redundancy & Your Rights

Over the last 18 months, the number of people I have interviewed who have left their company due to redundancy has spiraled to unprecedented levels. Even more worrying has been the lack of knowledge some of them had about their rights in a redundancy situation. Whilst I haven’t kept exact figures, some people felt their employer handled their redundancy in the right way, yet many others realised they should have questioned their employer more as to why they were made redundant – some stories I had been told just didn’t add up.

Before Christmas I met a Financial Controller I had known for over 8 years, and it was their story that prompted me to write this post. Assuming they were not over-exaggerating, I don’t know how their employer got away with making them redundant and suffered no repercussions. Looking at it from an outsider’s viewpoint, it seemed to be a cover-up to me for something else going on in the business. The candidate fortunately secured a new job thanks to McGinnis Loy so they managed to move on quite quickly, but I suspect this was not an isolated case.

In response to the question often asked by recruiters “what is your reason for leaving?” Redundancy is now one of the top answers I am given, and is now as frequent as “career progression” or “looking for a shorter commute” used to be 5+ years ago. Since the 2008/2009 recession, redundancy has certainly become more prominent on CVs than ever before, and in today’s uncertain economic times it is no surprise. Having written an article late last year on Coping With Redundancy, only now have I thought a summary about redundancy entitlements would be useful.

One of the best websites I would recommend is www.direct.gov.uk. They have comprehensive guides on redundancy, and a whole section dedicated to “Redundancy & Leaving Your Job”. One of first things they talk about is the employer’s responsibility to treat you fairly and how they should follow the correct legal process, including consulting you in person before making you redundant. A face-to-face consultation with your employer should, amongst other things, include a discussion about why you have been selected for redundancy, and what alternatives to redundancy they have considered.

If you are entitled to statutory redundancy pay, the amount you will receive is based on how long you have been continuously employed (must be at least 2 years), your age and weekly pay (up to a specific limit). Some employers (most notably larger corporate) do offer more generous redundancy packages than the current statutory amounts, so it is always worth checking your employment contract when you joined the business. The DirectGov website also allows you to check that your employer has worked out your redundancy payment correctly. It provides a quick calculator to help you, which you can access by following this link.

There are some circumstances where you are entitled to redundancy pay though, and the two most common are:

Where your employer offers you alternative work which you refuse without good reason.
Where you decide to leave of your own free will, before the end of your notice period.

If your employer is declared insolvent or they cannot afford to pay your statutory redundancy pay, this can bring further financial complications. However, you can apply for a direct payment from the National Insurance Fund (you can download a RP1 form here). In order to claim, you must first write to your employer asking for your statutory redundancy pay, and only if they are still unable to pay, should you fill out form RP1 from the Insolvency Service.

Another website I found useful when researching is www.worksmart.org.uk, run by the TUC. Like the DirectGov website, they offer a wide range of articles and a comprehensive FAQ (frequently asked questions) section. Some of the more relevant questions I have highlighted below, with links at the end giving you the answers, but do look through the whole site for further informative advice:

How do I know if I have been fairly selected for redundancy? more…
I have been offered an alternative to redundancy – doing a different job. What is my position? more…
What consultation must an employer undertake before making redundancies? more…
I have been told of potential redundancies but the employer has not discussed this with staff. Is this allowed? more…
My employer has announced redundancies and a selection process that is obviously unfair. What should I do? more…
I’ve been made redundant because my employer is bankrupt. Will I still get paid? more…
What notice does my employer have to give when making me redundant? more…

There are many more websites available for people who are about to be, or who have already been made redundant. Just typing “redundancy” into Google gives over 26million results, so there is certainly a wealth of free information out there if you care to search through it all. Hopefully this short summary will have provided you with a good starting point though.

Good Luck!

Leslie Fearn

Leslie has over 15 years Recruitment experience helping blue-chip corporates to SME businesses recruit for their Finance teams. As one of the founding Directors of McGinnis Loy, a Specialist HR and Finance Recruiter across the Thames Valley and London, he is still actively recruiting in the marketplace today. Follow his helpful tweets on Twitter: @mcginnisloy

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Posted in Current Trends, Research And Preparation | Tagged CVs, finance jobs, headhunting, HR Jobs, job hunter, job hunters, job hunting, job seeker, leslie fearn, lost jobs, mcginnis loy, professional jobs, recruiting, Recruitment, Recruitment Consultancies, redundancies, redundancy, redundancy help, redundant, retirement, retiring, uk jobs | Leave a comment

Unemployed And Too Busy To Interview

Posted on by Sarah Cooper

In the last fortnight one of our candidates, let’s call her ‘Heather’ was called for interview.

She had been made redundant over three months ago and this was a role she wanted.

The problem was Heather couldn’t make the interview, she was busy.

The line manager couldn’t fathom why if she was immediately available she couldn’t be there ‘immediately’, or in this case, the following afternoon at 2pm.

Now this post could be about priorities but instead it’s about expectation.

You see talking to Heather it was clear to me that since she had become unemployed several expectations had been placed upon her.

Her family expected her to help out. Now she had more time, surely she could drop off an elderly relative to their health appointments? Could she simply pick up ‘x’ or wait in for ‘y’ delivery?
She expected more of herself. She needed to ‘do’ something with this time off work. She was fitting in more exercise, writing more, studying for a further qualification to help her career and catching up with friends and old colleagues– after all she was networking.
A friend who owned their own business also expected her to help them out when they offered her some casual work with them, after all they were willing to pay and provide a great testimonial.
My expectation of her as a recruiter must also be included. Did I ‘expect’ her to want the job because she didn’t have one, or because it fit her ‘criteria’ or because she had been ‘chosen’ to?
The line manager certainly expected her to show enough desire for their role that she would drop everything to meet them and why not?
What about wider society, what do they expect? Aren’t you supposed to grab at opportunity with both hands? Pay your own way? Contribute? Find your bliss? Do what makes you happy?

You see you can’t get away from priorities after all. Heather needed to say ‘no’ more not less. The only person who could take such a decision is her.

If you are job seeking at the moment be aware of the expectations, are you trying to do too much? Why are you searching, what are your priorities and how is your time split accordingly?

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Sarah Cooper has over 14 years Recruitment experience gained in both an internal and agency environment. As one of the founding Directors of McGinnis Loy Ltd, specialist Finance and HR Recruiters, she is still actively recruiting in the marketplace today. Follow her tweets @approachmarket

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Posted in Interviews | Tagged dealing with recruiters, feedback, getting the best from your recruiter, HR Jobs, interview, interview advice, interview feedback, interview help, interview preparation, interview questions, interview skills, interviewing, Interviews, job help, job hunt, job hunting, Job Interview, job questions, job search, job search priority, job searching, job seeking, left message, no response, Performance, Reason for leaving, Reasons For leaving, Recruitment, Recruitment Agencies, Recruitment Consultancies, recruitment consultant, rejection, saying no, silence, telephone calls, telephone interviews, time for interview, time management, uk job search | Leave a comment

Unemployment Still Heading North

Posted on by Leslie Fearn

October 2011 was when I last wrote about the unemployment figures, and the data at the time showed an unsettling 17-year high, heading northwards which of course is the wrong direction for all of us. The start of 2011 was positive with unemployment down by 88,000 but this was wiped out later in the year by an increase of 114,000. The latest report from the ONS (Office of National Statistics) shows unemployment heading north again for the three months to October 2011.

Their report focused a lot on the public sector, which since 2009 has lost 343,000 jobs across some key departments. I didn’t realise that over half of the people employed in the public sector work in either the NHS or Education, and since 2009, there has been a 41,000 fall in employment within the NHS and 62,000 in Education. Other big falls have come from Public Administration (113,000) and the Police & Armed Forces (30,000). It is no surprise to me that there will be more pain to come, and McGinnis Loy itself has seen the numbers of applications increase substantially from public sector workers trying to secure roles in the private sector.

Another key finding in their report talked about the number of part-timers in the UK workforce, which I reviewed in more detail last year in this article. The number of people working in this field is still increasing year-on-year, yet the most interesting part of their message was that in 2011, 16% of them were also looking for a permanent opportunity (around 1 in 6 people), the highest since 2004. Part-time workers currently account for 27% of the UK workforce, higher than Europe collectively (20%), but lower than the Netherlands, who at No 1 in the rankings, have 49% of their workforce working part-time.

So, putting some of the bad news of 2011 to bed, what can we expect in 2012 for job-hunters and other readers here on Approachthemarket.com? If you are looking for work right now, then my “4P” mantra talked about previously still applies – Preparation, Preparation, Preparation and bags of Perseverance. According to a recent article by the CIPD, they expect total unemployment to hit 8.8% which is higher than now, but not as high as the peak in 1993 (something they failed to mention), so there is certainly hope.

I believe one of the key things all job seekers will need to focus on in 2012 is being more aware of their competition, and how to deal with/manage it (who else is going for the same roles). According to Totaljobs.com there has been a 42% increase in the number of job applications over the past year with the average number of applicants per job now standing at 23. Whilst there are regional and sector-specific variations, the headline figures do show how competitive it has become. Therefore, one positive thing you can do in 2012 is make sure your preparation of everything from the initial job application through to 2^nd/3^rd round interview preparation is done thoroughly and as specific as possible. Knowing how to differentiate yourself from your competition will be a critical factor for 2012 – more on this in a future post.

Back to the ONS report of December, I have dissected a number of the key findings from them below, and there is also an Audio commentary which you can listen to on You Tube if you prefer. I acknowledge and credit the ONS in allowing me to use this public information – you can read more on the Labour Market Statistics at www.ons.gov.uk

THE POSITIVES

Private sector employment increased by 5,000 over the quarter
Weekly earnings (between Aug & Oct 2011) were 2% higher than the same period a year ago
Whilst the unemployment rate stands at 8.3%, this is not as bad as the 90’s recession when its peak was 10.7% in 1993
From a European perspective, UK unemployment is still lower than that of the collective EU

THE NEGATIVES

UK unemployment between Aug 2011 and October 2011 rose, and now stands at 2.64 million people.
This is another quarterly rise of 128,000 people who are now unemployed
As of November 2011, people claiming job-related benefits rose 3,000 on the previous month. The total receiving job-related benefits now stands at 1.60million
Public sector employment fell by 67,000 over the quarter
The employment rate currently stands at 70.3% of the working population (it was 70.5% last quarter)
There were 455,000 open vacancies across the UK between Sept and Nov 2011 (down by 8,000 on the previous quarter)

Best wishes

Leslie Fearn

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Posted in Current Trends | Tagged accounting jobs, finance jobs, HR Jobs, job hunt, job hunting, job questions, job search, job searching, job seeking, job statistics, professional jobs, Recruitment, Recruitment Agencies, Recruitment Consultancies, sales jobs, social media job search, UK employment data, UK unemployment, unemployment, unemployment data, unemployment figures, unemployment statistics | Leave a comment

What do recruitment predictions mean to the jobseeker?

Posted on by Sarah Cooper

Prediction posts are popular and plentiful. We are all a little fascinated in what lies ahead. Money is made and lost on hypothesizing, trends and pattern analysis both in part art and science.

Recently I have been immersed in futuristic recruitment articles and it got me thinking: what does all this mean to the jobseeker?

If forewarned is forearmed -

Forewarned, forearmed; to be prepared is half the victory.
Miguel de Cervantes

How can it help you?

So here below are some noticeable themes that seemed to have emerged and some thoughts on how perhaps you could take the advantage:

Mobile. The number of smartphones have exploded and employers are getting wise to the fact that we are surfing the web on the go. There are many apps out there to help you job search on your phone and company career apps to enable you to learn more about the organisation and apply. Make sure you have an accessible mobile version of your CV to send and be ready to respond.Instead of flinging birds, fending off zombies or building words with friends, maximise your proactive research time.

Community and Networking. Many companies are trying to build community talent pools to attract passive talent. This means more social media activity within your chosen industry. It’s therefore essential to build your online profile and to participate. Attract employers to you rather than applying to them.Build your network for life. Continue to interact with your peer group, past connections and people you have synergy with. Many believe the future of work will head towards collaboration projects and emphasis or who you know will just become stronger.

Video. You can see video blogs and product shorts almost everywhere. The quality of video interview has increased and even video job descriptions are on the scene.We are becoming much more visual in the way we process information. To that extent, a video CV could work for you. InovateCV is well worth a visit.

Candidate Experience. Finally it seems this issue has made it onto the agenda. Companies are starting to see the link between their recruitment experience and their brand. Be ready to give an opinion. Let your favourite organisations know what they are doing right whilst in the process. Encourage them. If polled, questioned or canvassed give quality feedback where you can to help them to get better and shape their future process. It’s hard sometimes, but don’t use the opportunity to just moan, make suggestions of what would work better and ultimately make the difference to you, be part of the solution.

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Posted in Current Trends, Social Media | Tagged candidate experience, community, CV advice, CV preparation, CV profile, CV profiling, economy, finance jobs, future of recruitment, HR Jobs, job help, job hunt, job hunting, Job Interview, job opportunity, job profile, job questions, job search, job searching, job seeking, mobile recruitment, Networking, predictions, recruitment trends, video recruitment | Leave a comment

60 Twitter Accounts For FTSE100 Companies

Posted on by Leslie Fearn

Following on from my post here two weeks ago, I wanted to continue the Twitter theme and add some more accounts onto the list of FTSE employers using Twitter to engage and attract potential job-seekers. With the Christmas period being one of just two occasions in the year when people seriously sit down and consider their long-term career goals and whether they should move on from their current employer, hopefully this list will come at just the right time.

There is a whole library of information we have written about on Social Media (use the search box to find other articles), and the once the hardest part is done – setting up accounts, configuring settings and arranging alerts, it is then quite easy to get job-related information sent to you automatically. Linked-In for instance allows you to “follow” companies you may be interested in working for; search for or receive alerts to roles as they become available; and connect with colleagues, ex-colleagues and other professionals in your sector and Twitter is no different. Many of the FTSE100 companies have now started to use Twitter to interact with their job-seeking audience, using it as another recruiting platform.

As the list below gets longer, you can see how some FTSE companies have very active and informative Twitter streams, and others are just non-existent. Interestingly, businesses such as AB Foods, Lonmin, Morrisons and British American Tobacco have yet to even set up an account (or one that I could find), which being some of the largest companies in the UK I find astonishing. For some of the companies I have not been able to find a Twitter account, so if you manage to find one, please let me know so I can update this post which will help other readers.

I hope you find the list of interest, and if you are keen to work for any of the companies, just click on the green “follow” button next to their Twitter name, then all their news will come directly into your Twitter account.

60 FTSE100 UK Companies with Twitter Accounts To Follow:

Admiral Group – Insurance Services (@AdmiralGroup)

Aggreko – Power & Temperature Control Solutions (@Aggreko_Intl)

AMEC – International Engineering Business (@amecworldwide)

AngloAmerican – Mining & Natural Resources Group (@aauk)

Antofagasta – International Mining Company (no twitter account)

ARM Holdings – SemiConductor IP Business (no twitter account)

Ashmore Group – Investment Management (@AshmoreEM)

Associated British Foods – Food & Ingredients Group (no twitter account)

AstraZeneca – International Pharmaceutical Company (@joinastrazeneca)

Aviva PLC – Insurance & Financial Services Business (@AvivaCareers)

BAE Systems – Defence & Aerospace Systems (@BAESystemsplc)

Barclays – Financial Services & Banking (@BarCorp_News)

BG Group – Global Gas Exploration, Production and Storage Business (@BGGroup)

BHP Billiton – Global Mining, Oil & Gas Company (no twitter account)

BP PLC – International Oil & Gas Company (no twitter account)

British American Tobacco – International Tobacco Group (no twitter account)

British Land Company – UK Property Investment Business (@BritishLandPLC)

BSkyB / Sky – TV / Media Business (@workforsky)

BT PLC – Corporate Telecoms Business (@btcareers)

Bunzl – Distribution & Outsourcing Solutions (@BunzlDist)

Burberry Group- Luxury Fashion Business (@Burberry)

Cairn Energy – Oil & Gas Exploration Company (no twitter account)

Capita PLC – Technology Outsourcing Business (@JobsatCapita)

Capital Shopping Centres – Developer & Owner of UK Shopping Centres

Carnival – International Cruise & Leisure Company (@carnivalukjobs)

Centrica – Integrated Energy Business (@centricaplc)

Compass – Foodservice & Support Services (@compassgroupuk)

Diageo PLC – World Leading Drinks Business (@Diageo_News)

Essar Energy – Integrated Energy Company (@EssarGroup)

ENRC – Natural Resources Company (no twitter account)

Experian – Global Information Services (@Experian_UK)

Fresnillo – Silver & Gold Mining Company (@Fresnilloplc)

G4S – International Security Solutions Group (@G4SCareers)

GKN – Global Engineering Group (no twitter account)

GlaxoSmithKline – Global Pharma & Healthcare Business (@gskjobs)

Glencore International – Worldwide Commodity Producer (@GlencoreUK)

Hammerson – Retail Real Estate Company (@Hammersonplc)

Hargreaves Lansdown – Financial Services Provider (no twitter account)

HSBC Bank – Global Retail & Business Banking (@HSBC_UK_Careers)

ICAP – Financial Services Broker (no twitter account)

IMI – Global Engineering Group (no twitter account)

Imperial Tobacco – International Tobacco Business (@imptobrecruit)

Inmarsat – Satellite Communications Business (@inmarsat_plc)

Intercontinental Hotels – Global Hotel Chain (@IHGPLC)

International Consolidated Airlines - (@British_Airways)

International Power – Power Generation Company (no twitter account)

Intertec Group – Quality & Safety Solutions Business (no twitter account)

Investec – Property, Investment & Banking Company (@investecam_uk)

ITV – Commercial Television Network (@ITVCareers)

Johnson Matthey – Specialist Chemicals Company (no twitter account)

Kazakhmys – Natural Resources Group (no twitter account)

Kingfisher – Home Improvement & DIY Retailer (@kingfisherplc)

Land Securities – Commercial Property Business (@landsecurities)

Legal & General – Risk, Savings & Investment Provider (@landg_group)

Lloyds Banking Group – Financial Services & Banking (@LloydsBankingGp)

Lonmin – Platinum & Metals Producer (No twitter account)

Meggitt – Global Engineering Group (No twitter account)

Marks & Spencer – Food & Clothing Retailer (@marksandspencer)

Morrison – Supermarket Chain (No twitter account)

National Grid – Electricity & Gas Company (@nationalgriduk)

Best wishes

Leslie Fearn

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Posted in Link Lists, Social Media | Tagged ACA jobs, ACCA jobs, accounting firms, accounting job, accounts, Chartered Accountant, CIMA, CIMA jobs, city, finance job, finance professionals, financial controller, FTSE100, job hunting, job searching, job seeking, les fearn, leslie fearn, mcginnis loy, professional jobs, Recruitment, Recruitment Agencies, Recruitment Consultancies, social media, social media job search, social network, social networking, square mile, twitter, UK PLC | Leave a comment

30 Twitter Accounts For FTSE100 Companies

Posted on by Leslie Fearn

It is always good to hear from people who have never used Social Media before, and they contact you months later down the line to tell you how it helped them from a job-hunting perspective. Earlier in the summer I was asked if there was anywhere on the web I could find a Directory of UK employers on Twitter. I have not been able to find an extensive directory/list as such, but there are pockets of information and some links to Twitter accounts on the internet if you are good at searching. I have previously listed some relevant Twitter accounts on approachthemarket.co.uk which you can find in my posts here and here.

I have also written a number of posts specifically for job seekers looking to work in large corporate businesses, focusing on FTSE100 companies. Many have their own career pages and jobs you can apply to on their main website, but a lot have also moved onto Twitter too. As well as getting information and news about their products and services onto the web in an instant, Twitter is also a means to attract potential employees. As I couldn’t find a list of employers with Twitter accounts all in one place, I thought it would be a good idea to make a start of doing it here!

Whilst some companies have very active and informative Twitter streams which could help you decide if the company is one you would want to work for, others have not been used for a long time and tell you very little. Interestingly, businesses such as AB Foods and British American Tobacco have yet to even set up an account (or one that I could find), which being one of the largest corporate’s in the UK I found puzzling. As you read through the companies therefore, you will notice that some do not have a Twitter account listed. If you manage to find one that is relevant for job seekers, do please let me know so that I can update this post….

So far, I have managed to find the Twitter accounts for the first 30 FTSE companies in alphabetical order. I will keep adding to the list in the next few weeks and update it here for you, then you will be able to “follow” all companies in the FTSE100 who have Twitter accounts with job-related content.

30 FTSE100 UK Companies with Twitter Accounts To Follow:

Admiral Group – Insurance Services (@AdmiralGroup)

Aggreko – Power & Temperature Control Solutions (@Aggreko_Intl)

AMEC – International Engineering Business (@amecworldwide)

AngloAmerican – Mining & Natural Resources Group (@aauk)

Antofagasta – International Mining Company (no twitter account)

ARM Holdings – SemiConductor IP Business (no twitter account)

Ashmore Group – Investment Management (@AshmoreEM)

Associated British Foods – Food & Ingredients Group (no twitter account)

AstraZeneca – International Pharmaceutical Company (@joinastrazeneca)

Aviva PLC – Insurance & Financial Services Business (@AvivaCareers)

BAE Systems – Defence & Aerospace Systems (@BAESystemsplc)

Barclays – Financial Services & Banking (@BarCorp_News)

BG Group – Global Gas Exploration, Production and Storage Business (@BGGroup)

BHP Billiton – Global Mining, Oil & Gas Company (no twitter account)

BP PLC – International Oil & Gas Company (no twitter account)

British American Tobacco – International Tobacco Group (no twitter account)

British Land Company – UK Property Investment Business (@BritishLandPLC)

BSkyB / Sky – TV / Media Business (@workforsky)

BT PLC – Corporate Telecoms Business (@btcareers)

Bunzl – Distribution & Outsourcing Solutions (@BunzlDist)

Burberry Group- Luxury Fashion Business (@Burberry)

Cairn Energy – Oil & Gas Exploration Company (no twitter account)

Capita PLC – Technology Outsourcing Business (@JobsatCapita)

Capital Shopping Centres – Developer & Owner of UK Shopping Centres

Carnival – International Cruise & Leisure Company (@carnivalukjobs)

Centrica – Integrated Energy Business (@centricaplc)

Compass – Foodservice & Support Services (@compassgroupuk)

Diageo PLC – World Leading Drinks Business (@Diageo_News)

Essar Energy – Integrated Energy Company (@EssarGroup)

ENRC – Natural Resources Company (no twitter account)

Best wishes

Leslie Fearn

Photo Credit

If you found this subject of interest, you may also like the following related posts from Approachthemarket.co.uk

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Posted in Link Lists, Research And Preparation, Social Media | Tagged ACA jobs, ACCA jobs, accounting firms, accounting job, accounts, Chartered Accountant, CIMA, CIMA jobs, city, finance job, finance professionals, financial controller, FTSE100, job hunting, job searching, job seeking, les fearn, leslie fearn, mcginnis loy, professional jobs, Recruitment, Recruitment Agencies, Recruitment Consultancies, social media, social media job search, social network, social networking, square mile, twitter, UK PLC | Leave a comment

Candidates, Get The Best Out Of Working With A Recruitment Agency

Posted on by Sarah Cooper

Last Friday Pat Hartwell asked me to speak on this topic to the Executive Job Club.

Rather than death by Powerpoint, we as a group discussed the frustrations we felt as candidates dealing with agencies. Unsurprisingly the white board soon filled up most of the gripes could be broken into the following areas:

Response – complete lack of, tone, generic responses and lack of empathy
Secrecy – cloak and dagger approach, mistrust, fake jobs
Pressure – ‘salesy’ approach, aggressiveness, agency rivalry
Integrity – lies, false hope, broken promises

We then turned to understanding more about how a recruitment agency operates, we discussed how some figures published suggest only 10% of all vacancies actually go through agencies and the changing role they have in today’s jobsearch. We covered the following points:

Different types: head-hunters, contingency, in-house, RPO
Position in the chain in a changing recruitment landscape – move towards direct hire, sourcing- finding the few not attracting the many. How far away many agency recruiters actually are from the hiring manager and how many pairs of hands a job spec now goes through.
Volume – the sheer numbers of applicants applying and being held in large company applicant tracking systems. How debilitating that was and how automated responses had become in turn.
Turnover – the fact that during this recession so far it has been estimated that over 5000 recruitment consultants had lost their jobs. How they are paid, the pressure many are under and the various target elements of many of their roles.
‘People’ – how some of the same attitudes directed toward recruiters could also be applied to candidates. How candidates often stop communicating, let people down at interview stage, lie and can also be aggressive, focusing their anger and frustration on the consultant.

We then looked at possible solutions:

Relationships are two ways. Looking at how to cultivate them, build trust. To identify who as a candidate you want to work with. Use linkedin to identify ‘good’ recruiters. Look at tenure, specialisms, feedback. Ask what you can do to help them, as well as what they can do for you. Be a ‘good’ candidate, communicate well, have a great attitude, bags of enthusiasm and know what you want.
Focus on what you actually need, be proactive. Identify people you wish to work with, target the roles and organisations you want. Network in your chosen industry community. Make sure every application is targeted and tailored. Always be relevant. When you identify a weakness work to improve in that area. Get on LinkedIn, get found by the opportunities instead of chasing them. Make sure you have a complete up to date profile in order to appear further up in Recruiter search results. Make sure you are using the keywords Recruiters are searching on in your chose field. Use tools such as Wordle to identify what those keywords could be. http://www.wordle.net/
Get a commitment and timescale for action. Try to identify timescales, when are the CVs to be submitted. When will the client review, what will the process be? Put in calls at these specific points, allow flexibility and understand when they are chasing and when points have past.
Get it in writing. Make sure the agency is engaged on the job in the first place, or will your application be speculative? One way to do this is to make sure you receive a job spec of some description before your CV is submitted. Make sure you have registered in some way and that they have gained your commitment to look for work on your behalf. Ask to see the CV they have sent to the client, has your information been reformatted?
Be prepared. Do your research; make the effort every time and work together with the consultant to put your best application forward.

At the end of the day if you are really unhappy and feel mistreated by your Recruiter, complain. Changes in industry will not come about through inaction. You can complain directly online to the REC (Recruitment and Employment Confederation), your complaint cannot be anonymous and must be made within a year of the incident happening.

I had a really good afternoon. I met a group of really smart, great people, all with the right attitude to jobsearch, it was a testament to just how difficult the market has become.

If I can help your jobsearch further in anyway get in touch, you can email me at sarah@approachthemarket.com tweet me at @approachmarket or simply pick up a phone 01189 886644.

If you liked this post you may also enjoy:

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Posted in Agencies | Tagged chasing feedback, dealing with recruiters, feedback, getting the best from your recruiter, HR Jobs, interview, interview advice, interview feedback, interview help, interview preparation, interview questions, interview skills, interviewing, Interviews, job help, job hunt, job hunting, Job Interview, job questions, job search, job searching, job seeking, left message, no response, Performance, Reason for leaving, Reasons For leaving, Recruitment, Recruitment Agencies, Recruitment Consultancies, recruitment consultant, rejection, silence, telephone calls, telephone interviews, uk job search | Leave a comment

Venture Capitalists: A Potential Career Choice

Posted on by Leslie Fearn

If you have not thought seriously about which industry sector(s) you would like to work for, now would be a good time to do so, as some are performing much better than others. Many people I interview give me names of individual companies they would like to work for, but they hardly delve deeper to find other businesses in the same industry sector. It is certainly worth doing this, as more thorough research means there are likely to be other businesses you could add to the list which you may not be aware of.

One of the most popular sectors has always been Financial Services, be it the retail banks, investment banks or fund management groups. Despite the turmoil hitting the UK and the Eurozone currently (and the bad public feeling about banks), one reason I believe there is still such interest in Financial Services is that they still pay very well and offer good benefits compared to some other businesses.

One of the micro-sectors within Financial Services that hardly anyone talks to me about are the Venture Capital companies – no one I know has ever considered them as an option. Strange really, because for professional and senior level job seekers in the Accounting, Legal, HR and IT fields (and those seeking Director or Non-Exec posts), a Venture Capitalists door is certainly one worth knocking on.

With stock prices at a lower point than even just a few months ago, it seems some of the Venture Capitalists are coming into their own by helping to address the business lending void, pumping cash into SME companies that banks just won’t consider. I constantly hear how the banks are still on a “go-slow” when it comes to lending, despite what Mr Osborne and Mr King may say. Add into the equation the Europeans, who are scurrying around with their own financial woes trying to calm the wider market, and it doesn’t look pretty out there.

For job seekers however, this sector is sure to be one that will continue to grow. Anyone with skills in Mergers & Acquisitions, JV Accounting, Stockbroking, Asset Management, Legal / Contract Negotiation or Corporate Finance expertise would do well to research opportunities within this sector. Venture Capital businesses can be very large companies in their own right, some operating as private businesses and some publicly listed, such as 3i, a FTSE100 constituent (or was until September). 3i is still one of the most recognisable investors here in the UK, having started over 60 years ago and now manages assets worth more than £12billion and investments in 110+ companies.

Making equity stakes in a whole variety of businesses in different sectors, VCs often take a board-level appointment at their investee company as part of the financial deal. Job seekers at Senior Manager / Director level with in-depth business skills could well be an asset to them. Working in Finance recruitment myself at McGinnis Loy, I often advise Finance Directors and CFOs looking for new roles to consider VCs as a future career path alongside other companies in mainstream commerce & industry.

Many of the larger VCs that you could consider are listed below – hopefully this will give you a head start with any further research you may wish to do. As many VCs are now writing to their investor community asking to support more fundraising so they can inject that cash into UK PLC, now could be a great time to consider this sector for potential job opportunities.

Fidelity Growth Partners

Foresight Group

Hamilton Bradshaw

Kennet Partners

Mangrove Capital Partners

Matrix Venture

Maven Capital Partners

Nordic Venture Partners

Scottish Equity Partners

Shore Capital

Wellington Partners

YFM Equity Partners

Best wishes

Leslie Fearn

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If you found this subject of interest, you may also like the following related posts from Approachthemarket.co.uk

Secret Of Your Job Search Success

Accounting Institutes And The Job Search

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Posted in Current Trends, Link Lists, Research And Preparation | Tagged ACA, ACCA, accounting jobs, asset management, banking, banking jobs, banks, CEO, CFO, economy, executive jobs, financial services, financial services jobs, investment banking, job help, job hunt, job hunting, job search, job search tips, job searching, leslie fearn, list of UK VCs, Managing Director, mcginnis loy, Recruitment, Recruitment Agencies, Recruitment Consultancies, UK banking, uk job search, Venture capital, venture capitalist, venture capitalists, white collar jobs | Leave a comment

Three Scientific Facts To Getting The Job?

Posted on by Sarah Cooper

I am currently reading “:59 seconds : Think A Little Change A Lot” by Professor Richard Wiseman. Its a great read taking academic study and psychological research to bust open some popular self help myths and actually give weight to others.

On the topic of persuasion Wiseman looks at three ways of giving the perfect interview:

1. Likeability is more important than skill set, achievement or work experience

Chad Higgins from the University of Washington and Timothy Judge from the University of Florida studied over 100 students as they interviewed for their first jobs after leaving college. They looked into how the interviewers made up their minds. The data suggested that the candidate appearing to be a pleasant person was one of the most influential factors.

Wiseman suggests for success, giving more genuine compliments, showing a real interest in the person you meet, the role and the company. Maintain eye contact and remember to smile. Show enthusiasm.

2. Build weaknesses into the beginning of the interview and end on a high note

1970’s psychologists Edward Jones and Eric Gordon from Duke University conducted an experiment looking at when to drop a bombshell during an interview. The participants trusted someone more if they revealed negative points early on appearing open and distrustful if left to the end. They also felt that mentioning a strong achievement at the beginning was more akin to bragging than when left to the end, much more modest.

3. If you make a mistake, don’t over-react!

It is more than likely that you have noticed the error more than they have. Excessive apologising will only draw it more attention. Only acknowledge if appropriate otherwise just completely ignore.

This point comes from one of my favourite experiments in Wiseman’s book. Thomas Gilovich from Cornell University did some preliminary study and discovered that most Cornell students would be very embarrassed to be seen wearing a Barry Manilow t-shirt. He got a group of five students together to arrive at the same time and take a questionnaire, he then asked a sixth student to arrive five minutes later and wear a t-shirt with Barry’s face on. Upon arrival he was faced by a row of staring students, he then left shortly afterwards. Gilovich asked how many students noticed what he was wearing on his t-shirt and only 20% noticed Barry. When the latecomer was asked to estimate how many noticed he put the figure at 50%. This experiment and many like it, highlight how much the embarrassed individual over- estimates how noticeable their behaviour or appearance actually is.

However, based on absolutely no science whatsoever, I would like to point out at this point that I don’t think a t-shirt featuring Barry Manilow would increase your chances of anything positive?

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Secret Of Your Job Search Success

Posted on by Leslie Fearn

Ayodele Ojo

To carry on our monthly series about real people finding new jobs, this month’s focus is from someone who secured a new role within the Accounting & Finance field, thanks to the recruiters at McGinnis Loy. This month we hear from Ayodele Ojo, and asked him to share his job search experiences with us and the readers here at Approachthemarket.co.uk (both good and bad of course !)

Can we share your new job title and employer?

Yes sure, I have just joined a FTSE100 listed business near London as a Group Controls / Audit Manager

How did you find your job?

I was referred to McGinnis Loy by a colleague who knew there was a likelihood of redundancy on the horizon in my previous company. As one of the newest people onboard at the time, I did not want to be in the potential position of job insecurity. So I was looking, but not desperate for a new role at that time.

How long were you looking for a new role?

I decided to move on in March 2011, so I was only looking for 3 months and that included Easter!

What has been the best and worst parts of your job search?

The best part was the job preparation I had with Leslie Fearn. He was able to share other people’s experiences and give me a true insight about the job and company I was going for, and possible reasons why the other candidates failed.

The worst part was waiting for the background security checks to come back. A previous colleague of mine had recently been in the same situation with another employer, and he lost the job offer because of an outstanding bill payment, valued less than £50 and which was wrongly sent to an old address. I think that is worse than any rejection – getting the job, then losing it because of something you had no idea was likely to be an issue.

What was the job hunting process like?

The process itself was very straight forward. I only had two interviews and always got timely feedback, which meant I knew how the position and recruitment process was going. Having done my research on the people interviewing me, it certainly paid off as we were able to talk about F1 racing and Disneyworld during the interview. The only delay was waiting for the company to get the salary approved, but this was understandable as the Director was not around to sign off the documentation. The background checks came through without any concerns, even though they did take around 4 weeks.

Is there anything else you’d like to share that could help other job seekers ?

Dress smart and be punctual. Be prepared to talk about yourself. A condensed but interesting and relevant summary will help get the message across very quickly to the interview team if they are still not sure about you from the CV you presented. Be confident, not arrogant. Smile a lot and try and get some insight to the interviewers’ background within the company by the end of the interview e.g. what makes the company unique from their personal experience. This will give you a lot of insight into the company if the person is very clear in their response, which can be useful to you if you have another round of interviews lined up.

It is also very important to look into the company you are going to see, and be able to answer “why” you are interested in that company. One thing I know from my experience is that no matter how good you are, most employers will not want to employ on a permanent basis if they feel the only reason you want to join the company is because you need a job and therefore see them as a meal ticket. You must find common ground as to what you have that can be mutually beneficial, then you can sell your skills and experience to the interview team.

Check their website, use Google, Wiki and Linked-in to search on them and you will find interesting points to talk about during the interview. The thing to note here is to know the signs about when you should back off if the interviewer does not want to discuss certain topics. The fact that you found out about something in the first place though is enough of a kudos point in your favour. The research can also identify reasons why you do not want to join them. Your research should turn up areas you want clarified during the interview too. Insightful questions during an interview makes you stand out from the crowd and even if you have no questions, then tell them the reason why e.g. the company in question was your case study for your Masters dissertation only submitted last month!

Thank you Ayodele for sharing your views and tips for people who are currently job hunting, and best of luck in your new role. If you would like to share your job search experiences for next month’s story, please email me at leslie@approachmarket.com or lfearn@mcginnisloy.com

Best wishes

Leslie Fearn

If you found this subject of interest, you may also like the following related posts from Approachthemarket.co.uk

Secret Of Your Job Search Success

Accounting Institutes And The Job Search

A Champagne Year For Mergers & Acquisitions

Share This:

Posted in Success Stories, Your Career | Tagged ACA, ACCA, accounting jobs, asking for help, CIMA, facebook jobs, finance jobs, interview, interview advice, interview help, interview preparation, interview questions, interview skills, interviewing, Interviews, job help, job hunt, job hunting, Job Interview, job questions, job search, job search success, job search tips, job searching, job seeking, leslie fearn, linked in, Linked In help, Linked In tips, linkedIn, LinkedIn tips, mcginnis loy, my jobsearch, network, Networking, Recruitment, Recruitment Agencies, Recruitment Consultancies, social media, social media job search, social network, social networking, twitter, twitter jobs, uk job search | Leave a comment

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