Fantastic reasons to work in finance

How the finance and financial services industries are leading the way, according to three recent news reports.

This is promising reading for anyone considering a new job or career within these sectors – which have long served as prominent local employers.

1) Training and development potential

The finance sector currently tops the list for professions providing training and skills development opportunities.

  • Finance scored 88%
  • The rest of the top five included: HR/recruitment (82%)
  • Civil servant roles (81%)
  • Law (78%)
  • And Accounts (77%)

In addition, you’ll see that other great commercial office employers receive top ten scores.

This is all the more impressive when you consider that almost 1/3 of businesses do not offer any employee training or development. We discuss some of the reasons why this is the case here.

2) Fastest growing sectors for women

Finance and financial services also appear in the ‘top ten fastest growing industries for women‘.

This data explores the rate of growth over the 20-year period from 1998 to 2018.

  • ‘Support for finance and insurance’ has increased by 124.18%, which places these industries in 9th position.
  • Other high-scoring roles, such as head office management (showing a 191.27% increase) and Information services (up 146.15%) could be conducted both within and outside of these sectors.

3) Workplace happiness

The industry once again scores in the top ten of the ‘Workplace Happiness League Table‘.

  • Finance achieves a 68% score for employees who rank themselves as ‘happy or very happy’ in their jobs.
  • Legal, IT and telecoms, property, media/communications and the medical industries all also score impressively.

80% of people rank happiness as ‘important’ at work, versus 58% for salary, according to the survey. Another fantastic reason to work within this sector!

You can find our latest finance jobs here and financial services roles here. Do keep an eye on the jobs listings page in general, as it’s regularly refreshed with new opportunities. 

Read next: is salary the most important factor in your job search?



Building your transferable skills

By now, you’ve probably heard a lot about transferable skills. Yet how easily can you identify yours and do you know how to build them?

What makes a skill transferable?

The term applies to any key skill or attribute that you can carry from one job to the next.

While vital for us all, they become especially imperative for those that are…

  • Only just embarking on their career
  • Entering a new industry
  • Looking to make a major job change
  • Returning to work after a career break

Each of these groups may have to work that bit harder to demonstrate their suitability for a job role. So, rather than describing the skills gained from a recent job, they will illustrate their transferable skills gathered from elsewhere.

Example skills include:

All those personal attributes that spring to mind when highlighting the best of your abilities, including:

  • Communication
  • Teamwork
  • Perseverance
  • Project management
  • Reliability
  • Organisation
  • Budgeting
  • Record keeping
  • Research
  • IT and technical

As you can imagine, this list could become extensive and will certainly vary by individual.

Where do you develop transferable skills?

You develop these attributes over time and through a variety of professional and personal duties. For instance:

  • Your career roles to date
  • ‘Non-career’ jobs, such as part-time positions undertaken during your studies
  • Professional associations
  • Work experience placements
  • Voluntary roles
  • Hobbies and interests
  • Training courses
  • Travel
  • And caring responsibilities

Communicating your skills:

If there’s one tip that you take away from this piece, it’s this: make it relevant!

Employers want to see how closely you match the needs of their business and how well you’d ‘fit’ within their job role.

Spotted a job you want to apply for?

  1. Highlight the skills that the employer is looking for, then brainstorm all the ways that you’ve used these to date. Refer to the list above to prompt your recall.
  2. Compile specific examples to illustrate how you’ve used these skills in practice – and how you’ve used them to someone’s benefit. How has it helped your employer or voluntary organisation, colleagues, teammates, peers or personal/career development? Have these skills led to any specific achievements? Revisit our last post for more advice on how to showcase these.
  3. Weave your findings throughout your CV; include these in your personal profile, key skills summary and employment history. You can even highlight some of the most relevant skills in your cover letter or email.
  4. Finally, get in the habit of regularly reading job listings so you can quickly identify the most common key skills needed within your industry. See how you can build more of these both in and out of work.


Are you being upskilled at work?

Employers may be failing to ensure their team is regularly upskilled. And their employees may pay the price with their future career…

What is upskilling (and is upskilled even a word)?!

It might sound like just another marketing buzzword. However, ‘upskilling‘ has entered the Cambridge Dictionary and is defined as “the process of learning new skills or teaching workers new skills”.

The latest findings from the City & Guilds Group (as reported by HR Review) reveal that:

  • 76% of professionals feel it is important to continually refresh their skill-set. Vitally, this is stated as ‘regardless of age or career position’.
  • 81% predict some degree of change in their job skills requirements within the next five years.
  • Yet only 46% of people are receiving adequate training support from their employer to ensure they’re prepared for these changing needs.
  • What’s more, 1/4 of respondents say they are not receiving enough feedback regarding their skills development priorities.
  • Certain employee groups are less likely to be upskilled. 48% of employees aged 55 and above did not receive any skills training in 2018.
  • 42% of all part-time workers additionally report the same.

Why aren’t workers being upskilled?

  • It appears employers are most concerned by their staff taking time out of their usual working day (42%).
  • The cost of training is also proving to be a barrier for employers (29%).
  • While few individuals feel they can fund training themselves outside of work (28%).

How can you ensure you’re being upskilled?

These are concerning stats and there are some great comments regarding the importance of prioritising learning and development at work. Yet what do you do if you’re the employee and your skills haven’t been refreshed for some time?

  1. Where possible, use appraisals as an opportunity to ask your employer how you can keep your skills relevant to the changing needs of the organisation. This will help plant a seed and could point you in the right direction, even if the company is unable to finance training at present.
  2. Do your own research. Explore articles and podcasts regarding the future of your industry. See if there are any common themes or predictions.
  3. Use your findings to research ways to upskill at home. These don’t always have to be costly. Again, podcasts, websites and books can teach you a lot.
  4.  Explore how a new job role could help you upskill. It may be that you’re ready for your next career step. Keep an extra close eye on any job descriptions that closely match your experience yet also offer the chance to learn something new.

You can always email your CV to one of our Recruitment Consultants (here’s what to include in your cover email). Alternatively, you’re welcome to upload your details via the site today. 



Is your salary the most important factor?

Investigating whether your salary is the most important of all the job benefits. What else appeals to today’s job-seekers and what’s so important about this research?

Let’s start with the importance of this topic. As we mentioned in our last post, job vacancy numbers have reached an all-time high. This means that each employer has to work all the harder to impress suitable applicants.

This also means that there are regular surveys to ascertain which factors are most likely to attract a candidate into a new role. Surveys such as the one behind the ‘Attracting the Right Talent – Meeting Demands through the Job Offering Report.’

Salary isn’t (necessarily!) the most important factor…

  • At present, just over 1/3 of the nation’s professionals say their ‘career expectations are not being met’. They most prioritise…
  • Working for an employer that ‘values you’ (25%)
  • The opportunity to gain experience (17%)
  • Creating a strong work-life balance (18%)
  • And developing personal technical skills and abilities (11%)

Those that had worked for their employer for more than five years were even more likely to rate feeling valued and work-life balance as most important.

Alongside this, 60% of people prioritise the chance to develop their career within their job role.

You’ll see salary is yet to be mentioned. However, there is some regional variation here. In the South, workers are more likely to prioritise the career and lifestyle factors mentioned. Whereas the majority of professionals in the North East and Midlands valued their salary above all else.

There’s also some sector difference. The banking and financial services industry was the only sector that specifically regarded a pay rise as their primary career priority.

The report says there’s been a marked shift in attitudes due to the ‘millennial impact’. This group of workers is placing greater importance on lifestyle elements beyond pay rates.

What does this all mean?

We can see that attitudes are changing. However, it’s not long ago we heard that the UK is more salary-minded than any other European country and that 62% of people primarily work for this reason.

It’s worth considering the research as a whole. Salaries are incredibly important to many workers, yet there are also plenty of other factors that are relevant to job searching…and the acceptance of job offers.

  • As a candidate: it’s useful to consider your own priorities. What matters most in your career right now? Be sure to let your Recruitment Consultant know what you’re looking for. You can include some of this information right from your first email to your agency.
  • As an employer: take a look at your employee attraction offering. Are you making your team feel valued, do you help to create a positive work-life balance, and are you ensuring your staff receives regular skills development? What’s more, are you communicating these messages in your job advertisements? This post will help you to sharpen your employee attraction strategy.

For specialist recruitment support, please call the office on 01225 313130. Further details are available on our Contact page



The ageing workforce news roundup

The government is calling on businesses to do more to support the ageing workforce. There has been a wealth of news regarding this topic, in addition to age discrimination, over recent months. Time to explore the leading themes…

Do you feel your age is ‘holding you back?’

Source: Personnel Today

  • Around 1/2 of employees aged 50 and over believe their age could ‘hold them back’ in their job applications.
  • Almost 1 in 7 additionally believe they’ve already been declined a role due to their age.
  • In addition, 1/3 say they’ve not received as many training and promotion opportunities as younger colleagues.

These findings come from a survey conducted by the Centre for Ageing Better. They believe the UK could create up to £20 billion more GDP annually simply by “halving the ’employment gap’ between workers aged 50 to state pension age and those in their late 40s.”

The article also cites a number of positive suggestions to aid the inclusivity of older employees.

A diverse workforce presents benefits

Source: HR News

The older workforce is also a growing workforce. In only a decade, the number of over-50s workers will expand by approximately 27 million people.

However, unfair and incorrect biases could indeed be halting the recruitment of this employee group. Yet when recruited, a number of benefits are actually presented. Some of the discussed include:

  • Access to established skills and valuable experience
  • High commitment to roles
  • Learning from previous lessons
  • An ability to lead less experienced team members
  • And the opportunity for ‘intergenerational mentoring’ – with a mutually beneficial relationship.

Overcoming the myths

Source: People Management

We mentioned bias above and it appears a number of stereotypes have formed around the older employee. These include concerns around the ability to learn, productivity levels, sickness absence and impending retirement.

Businesses clearly need to re-evaluate their assumptions. You can find evidence-based responses to each of the primary stereotypes in the original post.

Looking at the laws

Source: HR Magazine

It seems an appropriate time to mention that age discrimination is illegal. Age is one of the protected characteristics under the Equality Act. However, this isn’t doing enough to change business behaviour.

To this end, the Women and Equalities Committee has made a number of recommendations. These cover everything from age reporting to appropriate discussions around career decisions, employment terms, ‘performance management’ and ‘insured benefits’.

Looking to the future

Source:  HR Magazine

We opened today’s post with a mention of the government. They have called upon employers to be more flexible in a bid to support the ageing workforce.

Research from Saga Populus includes a number of suggestions. These primarily explore part-time roles and flexible working opportunities, which may encourage people to stay in the workforce longer.

Furthermore, they advise employers to explore their upskilling and retraining schemes.

And, finally, entering the world of AI

Source: HR Magazine

While some might fear artificial intelligence will displace the older worker, experts suggest otherwise.

As long as employees express empathy, and are willing to continually refresh their skills, they should remain highly employable.

Naturally, this topic concerns employees of all ages. Some say that 70% of today’s workers lack the career skills they’ll need in future.

For further recruitment advice, whether you’re looking for work or for a new team member, please call the office on 01225 313130.

Remember, we regularly update our news blog with advice that will help you to keep your skills current. 



7 days of employee attraction tips!

Are your employee attraction strategies up to scratch? Check your progress against our top tips – we’ll be sharing something daily over the next week…

The latest skills shortage stats show just how vital this information is to employers. After all, you’re currently competing against a greater number of companies for a smaller number of candidates.

Ready to get started?

DAY 1: your culture and ethos

Could you (and your existing team) describe your company culture and brand values/ethos? If so, how do you promote this to prospective employees – is it on your website? Do you include any blurb on your job descriptions? If you answer ‘no’ to any of the above, it’s time to get brainstorming!

Working for brands with a positive purpose is becoming increasingly important to emerging generations of professionals.

Communicating your company culture can also help attract like-minded individuals to your business. And we all know the value of a positive team fit!

What’s more, well-aligned values also appear to boost later productivity and workplace relations. Please note: the ‘well-aligned’ is key here! It’s important that anything you communicate is truly reflected in your workplace. Whether that’s comments about the positive atmosphere, your people-centred approach, or your attitude to progression and diversity.

DAY 2: building your benefits package

You might not think you’re in the position to create much of an employee benefits package, however, you really don’t need to have a vast budget in order to do so. It could also be a costly mistake not to at least explore your options.

Where possible, detail some of your employee benefits in your job descriptions. 85% of candidates are more attracted to organisations that do this. Or, at the very least, make sure candidates know that there are a number of benefits on offer.

Do your competitor research to see what other companies are offering their employees. Also, swot up on the latest research surrounding job-seekers’ priorities. We reguarly share such news findings, including our recent post on what most employees want and need in 2019.

DAY 3: be more flexible

It’s time to discuss flexible working. Yes, this is featured in some of the staff benefit discussions, yet it more than deserves its own employee attraction spotlight.

People are increasingly drawn to companies that provide flexi-working opportunities. There are multiple plus points to consider here:

  1. It may help you attract large and in many cases untapped talent pools, such as maternity returners and working parents.
  2. Again, emerging worker groups are also more attracted to jobs with flexible and home working potential.
  3. Your team may become happier and your business may better keep up with rapidly changing workplace needs.
  4. What’s more, as the UK lags behind other nations in this respect, you may gain a distinct competitive advantage in your field.

DAY 4: be a rarity!

In order to attract the most valuable employees, you need to offer and promote something that few companies ever even consider.

Something that will also help retain your employees once on-board – and help overcome some of the most worrying national workplace trends (the employee performance crisis; high levels of disengagement and a general sense of unhappiness at work)…

This something is only offered by approximately 19% of businesses and is best described as ‘an experimentation culture’. It’s all about enabling your employees to share their ideas without criticism, actively encouraging innovation and creativity, and all-around greater team and individual involvement. You’ll need to have the right management approach in place to make this possible. You’ll also need to communicate this message to prospective employees. However, just think of the possibilities for your business!

DAY 5: make a path

Again, this is somewhat touched upon as an employee benefit. Yet did you know that 90% of UK employees deem training to be ‘vital to furthering their career?’ All the while, only 25% of HR professionals say their employers provide a ‘learning culture’.

You may not have the sort of business that enables a clear route of progression, yet you can certainly help your employees to see a path of personal progression and development. What a helpful tool to include in your job adverts.

As we’re now deep into a ‘skills economy’ period, it’s great to consider all training avenues – from online learning and knowledge sharing to in-house coaching and external courses. This is all discussed in the above-linked post.

DAY 6: now for the salaries!

It’s hard to deny that salary levels are important. UK employees are more motivated by pay than those of any other European country, with 62% of professionals saying that their salary is their primary driver to work.

In addition to this, average national salaries grew by 7.6% last year. This is driven by the skills shortage and saw a boost in December when candidate availability numbers fell again.

Make certain that your salary levels are as competitive as they can be to attract more job applicants. Monitor your competitors’ job adverts and be sure to seek salary guidance from your Recruitment Consultant.

DAY 7: bringing it all together

You’ve put in all the work to create an attractive employer offering, now you need to make sure you’re reaching out to as many candidates as you can; as effectively as you can!

This means crafting an appealing job description – and making sure that this is actually getting in front of your target audience.

Contact an expert recruitment agency in your industry for support with both elements. From job description guidance, through to regional industry insights, and ready access to the most effective candidate attraction tools, there are so many benefits to working with a dedicated recruitment consultant. They may even have the perfect person on their database waiting for a job such as yours!

Thanks for joining us for this week of tips. We hope you’re feeling ready to execute your newly refined employee attraction approach! To discuss your recruitment needs, please call Appoint on 01225 313130.



The job skills special

As ever, we’re keeping a close eye on the job skills news. It’s vital that everyone involved in the recruitment process (candidates, clients and consultants included!) remains aware of the nation’s changing skills needs. Information that becomes all the more vital as the UK skills shortage becomes all the more prolonged…

What exactly is the skills shortage?

Quite simply, it’s the shortfall of suitable applicants for the number of job vacancies that the nation has to fill. It’s an issue that we’ve been discussing for more than 18 months.

The latest job skills news reveals that…

  1. Most businesses (79%) plan to increase their higher-skilled roles within the coming years. However, the majority of employers (66%) worry that they will struggle to find suitably matched employees.
  2. A Barclays LifeSkills survey shows that almost 60% of UK adults ‘lack core transferable’ job skills, including leadership and creativity. Differences are reported among demographic groups.
  3. 2/5 of people are being recruited for roles before discovering they do not have the right ‘soft skills’ required. More than 1/2 of workers have left a role on realising their personality or work style does not suit the position.
  4. SMEs face the worst of the skills shortage, with underperforming recruits costing an annual average of £39,500.

What are the solutions?

According to the reports, changes must be made at a formal education level. All future workers should be equipped with adequate skills for the modern workplace.

Alongside this, employers need to provide continued training opportunities. Therefore enabling existing workers to upskill on the job; aiding staff retention and business growth.

Businesses must also review their recruitment approach to ensure…

  • They are managing to attract enough applicants.
  • Employers also know how to best identify suitable skill-sets.
  • The job offering is additionally appealing enough to compete with those of other (perhaps better known) organisations.
  • Decision-making processes are swift enough to retain interested applicants.
  • While ample onboarding is provided to welcome new staff members.
  • Plus the list really does go on..!

What should you do now?

  • Employers & employees: keep reading articles such as these! We regularly share posts discussing the most sought-after job skills – useful insights whether you’re the one looking to fill these or the businesses competing to attract them!
  • Especially for job-seekers: do all that you can to ensure that you’re searching for the right jobs for you and you’re doing everything possible to highlight your skills. Stop the scattergun approach (i.e. applying for anything and everything regardless of whether it suits your skills and experience!) and make sure your CV clearly matches each job specification you put yourself forward for. Read job adverts as closely as you can – they highlight the most essential skills for each individual role.
  • Especially for businesses: start working through that bulleted list above! Your Recruitment Consultant is the perfect person to call on to support you with this. For tailored recruitment advice, please call the office on 01225 313130.