The COVID-19 outbreak has altered the dynamic in recruitment. While some industries have seen recruitment freezes, others are struggling to locate the employees they need.

With furloughs and some inevitable redundancies in various organisations and sectors, finance and accounting departments remain necessary throughout, which has contributed to a shortage of finance candidates.

With almost half of senior leaders in the financial services sector reporting high competition for finance roles, and now the added challenge of recruiting in the age of coronavirus – finding the right finance candidates is not an easy task.

Companies looking to hire and retain finance employees are struggling to locate the talent they need. Today, I want to discuss why, and what your organisation can do about it.

The Skills Shortage

A general shortage of candidates is the first problem organisations must contend with to hire their next Credit Controller or Payroll Assistant.

Before the COVID-19 outbreak, employers were struggling to hire talent due to a skills gap. Data from the Recruitment & Employment Confederation (REC) Jobs Outlook Report found that between May and July 2019, 46 per cent of employers of permanent staff expressed concern over finding enough suitable candidates for their vacancies.

The skills shortage in the UK has increased year on year, as employers struggle to locate finance candidates for pivotal roles within their team.

Businesses Competing for the Best Finance Talent

The headlines we have seen recently about COVID-19 potentially damaging the UK job market do not tell the whole picture.

Shortly before the coronavirus hit the UK, chancellor Rishi Sunak boasted of a ‘national jobs miracle’. There was indeed a steady growth of jobs in many sectors, and tying in with the skills shortage, many employers were struggling to locate talented employees.

While the hospitality, retail and travel sectors have been affected, in many areas of the UK economy, there is a steady progression.

The coronavirus outbreak, however, has put an unprecedented strain on many finance departments, due to recent financial activity – let’s take a closer look.

Finance Departments Affected by Coronavirus

Finance departments have had to alter their regular schedules in line with new increased financial activity.

Cashflow forecasting, audits, tax, accounts assistants dealing with debts – all of these roles have been put under increased pressure due to changes caused by COVID-19.

Nearly 300,000 companies applied for CBILs (Coronavirus Business Interruption Loans) last month. Pausing and taking stock of all incomings and outgoings is not something which finance departments had planned to do at the start of the year. For this reason, many businesses are seeking extra help in finance departments right now.

There has also been a sharp increase in credit controller roles as businesses futures look uncertain and as some will inevitably close permanently. A quarter of all UK businesses have temporarily closed due to COVID-19, with half a million companies reporting that they are in ‘significant financial distress’.

For now, and the foreseeable future, recovery and debt collection will be a focus for many finance departments, with an increased need for employees within these roles.

For businesses that remain open, getting their finances in order after the significant changes that coronavirus has had is a difficult task, the scale of which we will not know for weeks to come.

Remote Recruitment

Finally, an additional problem that businesses have had to contend with is the physical difficulty with hiring at the moment.

Social distancing measures have meant that the face-to-face interviews have been halted and recruiting in general in lots of companies has ground to a halt – despite there being empty vital positions.

Many businesses are not equipped to conduct virtual recruiting, and in light of the recent situation, there hasn’t been time to set up a process.

If you are in need of finance candidates for a vacant role, and you haven’t got remote recruiting procedures in place – we can help. Get in touch with us here to find out about how our recruitment service is continuing and how it can help you recruit in lockdown.

How We Can Help

If you currently have a finance vacancy in your organisation and are struggling to navigate the current job market to find appropriate candidates, we can help.

Our team of experts are working remotely to help you find the finance candidates you need to help your organisation through this challenging time. If you have a finance vacancy you would like to discuss, get in touch with our team here today.

About Clayton Recruitment

Clayton Recruitment has been partnering with organisations across the country since 1989, and during that time has built up an excellent reputation for trust and reliability.

With specialist divisions covering Commercial, Financial, Industrial, and Engineering appointments, on both a permanent and temporary basis. If you are looking for your next career move, we can help. Call us on 01772 259 121 or email us here.

The hiring market is changing.

With employment at an all-time high, many companies are finding it hard to locate the right kind of staff they need to help them reach their business goals.

As recruiters in the North West, we have seen an increase in the number of candidates enquiring about temporary work and this is echoed in the UK as a whole, with temp work being one of the fastest areas of recruitment.

However, many organisations are still reluctant to take on temporary staff, and quite often view it as a ‘last resort’. In doing this, many companies are missing out on a vast array of talented employees who are looking for less-permanent positions.

If you are not fully utilising temporary workers in your business yet, and are unsure as to why you should start, here are the five reasons that employers should take on more temporary workers this year.

1. A Clever Staffing Solution

We work with organisations of many different sizes, serving a range of sectors. And what we find more and more often is that they cannot locate the talent they need to help them achieve their business goals.

Many companies will persist with and repeat their recruitment process with the view to finding a permanent member of staff to fill a position. Many organisations would not consider a temporary employee: because the role is permanent, they want a permanent member of staff.

But in doing this, they struggle on with a vacant position, or worse; they employ the ‘wrong’ permanent employee in haste. The cost of rehiring for permanent employees can become very costly indeed.

This is the perfect opportunity to utilise an employee on a temporary contract – to solve an ongoing recruitment issue.

2. For Flexibility

In an ever-changing economy, and especially during the Brexit transition period, many employers are finding that their staffing needs are fluctuating.

Sometimes it is not feasible for employers to take on staff with permanent contracts when they know that they cannot predict how long they will be needed.

Temp workers are perfect for the changing demands of your business. Many employees are looking for short-term and temporary work. You can work with a recruiter to outline your businesses needs, and they can find you staff who fit into exactly what you’re looking for, skills and contract-wise.

3. When Your Team Needs a Lift

On the flip-side, there are times when businesses are booming, and they need all the help they can get. It’s great when you see an increase in custom, but this can have negative repercussions on your team.

Continuing with the same size of team and expecting them to take on extra duties when you need them to can cause stress and anxiety among your employees, and will eventually lead to a drop in productivity.

If your team needs a morale boost in the form of some extra help to see them through unexpected busy times, bringing in some fresh faces for a limited period is a smart solution.

4. Access to Untapped Talent

Is your organisation going through a period of change? Are you changing your services or processes? Are you expanding?

You might already have an excellent team in place, but sometimes you need access to new talent to help you through a transition period.

In the past, there was a stereotype of temp work being associated with low-skilled talent looking for very casual contracts, but this is not the case anymore.

There is a wealth of talent considering temporary work for a variety of reasons, such as alongside part-time studying, new parents looking for employment to fit around raising their family, and those looking to change sectors. All of these employees can add real value to your business in the time you need them most.

5. With a View to a Permanent Hire

Finally, probably the most significant benefit that employers can get out of temporary hires is temp-to-perm positions.

Organisations can work with recruiters to find employees looking for temp-to-perm contracts to ‘try before they buy’. This is a great way to find out if the employee fits into your organisation – if they are the ‘right’ person for the job before you sign on the dotted line.

And it’s a two-way street, too. Many temp workers prefer these type of contracts (when they are looking for permanent work eventually) as they can see if they like the role and the company without being tied down.

Finally

Do you currently employ temporary workers in your organisation? Perhaps you have used them in the past, or only use them at specific points in the year, such as over the Christmas period. Consider taking on temporary workers in your organisation at different times to enjoy the benefits that I have outlined here.

There are plenty of candidates looking for temporary contracts who are waiting to hear from your organisation right now – get in touch with us to find out more.

About Clayton Recruitment

Clayton Recruitment has been partnering with organisations across the country since 1989 and during that time has built up an excellent reputation for trust and reliability.

With specialist divisions covering Commercial, Financial, Industrial, Nursing, and Engineering appointments, on both a permanent and temporary basis. If you are looking for your next career move, we can help. Call us on 01772 259 121 or email us here.

If you would like to download our latest interview checklist, you can do so here.

A recent survey by the accounting resource company Karbon found that 95% of accounting firm partners said that they had experienced challenges when attempting to recruit Accountants.

What’s even more shocking is that only 22% said that they are confident that their recruiting strategy is reaching the very best applicants.

It’s that word – ‘reaching’ where the importance of a good recruiter comes in. You might think your recruitment process is as slick as possible, with excellent salary and remuneration packages and your company culture is on point, so why aren’t you getting any takers?

The truth is that in the current tight employment market, the best candidates are not few and far between – they’re not even looking.

The ‘war for talent’ is much documented at the moment across many sectors, including finance, as the number of vacancies advertised continue to grow as firms ramp up hiring activity after a tumultuous 12-18 months. And, according to statistics from Broadbean, despite a 20 per cent rise in vacancies advertised in Q1 2021 compared to the last three months of 2020, applications to those roles rose by only 4% in the same period.

Businesses are one again competing for the same, sometimes scarce, pool of talent; some of whom are reluctant to move roles against the backdrop of a pandemic and perceived market uncertainty, and those that do have the confidence, have a whole host of options available to them.

I want to use this article to tell you about the issues facing hiring managers who are looking to recruit Accountants and how managers and recruiters across the country are attempting to remedy the problem.

Changes in Recruiting for Accountants

If you have faced challenges in your search for accomplished and suitable accountancy candidates – you’re not alone. Companies across the board are struggling to attract great accounting talent and are being forced to think outside the box, which has resulted in some unusual candidate attracting methods such as this archived LinkedIn accountancy job advert.

The job vacancy has long since gone, but LinkedIn has kept the advert up as an example of extreme advertising – the specification uses words such as ‘kick-ass’ and ‘misfits’ to describe their ideal candidate – a real deviation from the accountancy job descriptions from the past!

Many other accountancy firms who recruit in-house, as well as accounting recruiters across the board, have overhauled their recruiting process, and it is now the norm to ask prospective accountancy candidates to apply initially via video rather than the standard CV and cover letter – even more so over the past 12 months as video technology utilised in recruitment processes has accelerated.

Gone are the days of simple processes for hiring Accountants – hiring managers and recruiters are having to change their processes dramatically to have a chance of attracting the best Accountants.

Changes in the Industry

Not only are hiring managers struggling to find the number of candidates to provide a comprehensive interview process, huge changes in the accounting industry have left some managers wondering what kind of candidates they should be searching for.

The advent of cloud computing, automation and the millennial-age workforce has meant that the industry is unrecognisable to what it was just a few years ago.

This younger generation of Accountants has changed what it means to be a stand-out accountant. Alongside the quintessential traits such as excellent organisational skills, a true passion for numbers and an obsession with detail; millennial Accountants are active problems solvers, they are creative, and they are not afraid to ask difficult questions.

If your company is seeking to replace a boomer-aged accountant who was methodical, steady and old-school, it can be worrisome when every accounting candidate that you encounter seems completely different.

What companies must remember is not only that change is necessary; it is a good thing. The accountancy candidates that we are seeing coming through the ranks are a new breed – and this can seem scary – but they will bring skills to the accounting role that you didn’t know were missing!

Why Recruiters Are Needed to Find Accounting Talent

As you can see, there is a perfect storm of problems affecting the accounting world currently, with multiple reasons culminating in the inability for companies to find the accounting candidates they are looking for – with financial analysts and reporters, as well as mid-management candidates in highest demand.

How can recruiters help? A general recruiter might not have the network in place to know where the best veteran and upcoming accounting talent is – but a dedicated accountancy recruiter will – it is in this network of passive candidates that the best talent lies.

Not only this, but as accounting recruiters know which kind of candidates have worked, and not worked previously in different firms, we can source talent that a hiring manager alone might not have considered.

If you need help in finding accounting talent for your business, talk to a dedicated accounting recruiter today to discuss your options.

About Clayton Recruitment

Clayton Recruitment has been partnering with organisations across the country since 1989, and during that time has built up an excellent reputation for trust and reliability.

With specialist divisions covering Commercial, Financial, Industrial, and Engineering appointments, on both a permanent and temporary basis. If you are looking for your next career move, we can help. Call us on 01772 259 121 or email us here.

If you would like to download our latest interview checklist, you can do so here.

Is your company paying attention to its employees, as well as your customers?

Your employer brand might be the silent reason between attracting the accountancy candidates you want and being left wondering ‘where are all the great candidates?’

Currently, three in four employers state that they find it hard to fill vacancies. It is a candidate-driven market, and the best candidates invariably flock to the ‘best’ companies.

Your employer brand is a tool which you can use to attract the kind of people who will enrich your company and who will be good for business – so what exactly is an employer brand? And how can you use it to your advantage? This article will show you how.

What Does Your Employer Brand Say About You?

Before you can decide how your employer brand needs to be tweaked (or overhauled), you first need to understand what kind of employer brand you currently have.

When you think of a company – take Google, for example – what is the kind of ethos that you associate with this brand? They’re forward-thinking, have a famous reputation for their incredible workspaces and are at the cutting edge of most software technologies.

What do you think would be the first things that pop into potential candidates’ minds when they think about your company? Do you have a strong market presence? Are you active on social media? What kind of people works for you?

You can create an audit using a variety of sources – ask your current employees to take part in surveys, hold stakeholder interviews with key figures, and send questionnaires to people who have rejected your job offers.

When you have compiled an analysis of your current employer brand, you can start to see where you might like to improve.

Size Up The Competition

In your quest to win the best candidates, your main barrier is your direct competitors.

When you are based in a big city, there can be several firms all competing for the best talent, but over a smaller area, the numbers can get uncomfortably close. You might even personally know the accountants working for other firms – you might have lost out to them previously.

If you have one, or a few, direct competitors (be that geographically or in your sector specialism) how does your firm measure up?

I’m not suggesting you copy mission statements or logos from your competitors, but you can take inspiration from organisations you admire. Has a rival firm recently upped their marketing with physical and online adverts? What are their job descriptions like? These are places where you can take inspiration from.

Create a Plan

Once you have identified the issues with your current employer brand, how would you like these to improve?

If you are attracting X kind of candidates, but you want Y candidates, how can you get these candidates to interact with your business more?

It is here that you can develop your ‘Employer Value Proposition’. Your EVP describes the salary, compensation and benefits that you provide to your employees.

In today’s job market, EVP’s are becoming increasingly competitive. Driven by a younger workforce (millennials are set to make up a third of the global workforce by 2020), employers are increasingly offering health insurance, dental plans, childcare, and health and wellbeing programmes.

Recent research from the United States shows that 80% of employees think that workplace benefits are more important than salary, and it’s a similar picture in the UK too. Get your benefits package right, and the great candidates will follow.

Review your candidate avatar and direct your online presence toward the kind of candidate you want – starting with your online content.

Upgrade Your Online Presence

Updating your online profile is a great way to cultivate your employer brand. Gone are the days of dry finance websites full of blocks of monochrome text.

While accountancy might have once had a reputation for being a sector which operates strictly behind the scenes, this is now changing.

A desire for transparency in all areas of the workplace has meant that companies are now more forthcoming with information which was previously only ‘behind the scenes’. An example of this is CEOs of companies getting involved in online videos that can be shared as advertising – think of Amazon’s Jeff Bezos. Twenty years ago we never knew the directors of large multinational companies: now they are never out of the news.

Some of the biggest news stories in the last few years have included accountancy – there is rarely a week where the global financial powers are not in the news.

Adapting your online presence is an easy way of remodelling your employer brand. Most job seekers will now check your website as their first port of call before applying to your firm, and they have certain expectations. They will be looking for active social media accounts, a modern and informative website containing blogs and other forms of content.

Encourage Advocates

Thanks to our hyper-connected world, review culture have made it possible to ‘try before you buy’ for almost anything and everything.

Your current employees should be involved in your employer branding strategy, and this is an opportunity to build the kind of team you want.

LinkedIn is a great way to involve your current employees to act as advocates for your firm.

Use your company’s LinkedIn company page to share articles, give company updates and engage with your staff and other companies whose values align with your own.

A company with a robust online presence with actively engaged employees is a crucial way to impress prospective candidates. Job seekers are far more likely to apply to a company that has provided them with some credible information and can demonstrate a good employee experience.

Remember – you can’t make your employees engage with you on social media, but they are far more likely to if you are providing them with a great employee experience!

About Clayton Recruitment

Clayton Recruitment has been partnering with organisations across the country since 1989 and during that time has built up an excellent reputation for trust and reliability.

With specialist divisions covering Commercial, Financial, Industrial, and Engineering appointments, on both a permanent and temporary basis. If you are looking for your next career move, we can help. Call us on 01772 259 121 or email us here.

If you would like to download our latest interview checklist, you can do so here.

Business can often be very fast-paced and demanding, but that doesn’t mean you have to neglect the wellbeing of your employees. A stressed employee is often an unproductive employee, which can ultimately hurt your company’s bottom line.

There’s a growing body of research that confirms the link between employee happiness and workplace productivity. For example, a recent study at the University of Warwick revealed that happy employees work harder and are 12% more productive and motivated than those who are unhappy or stressed.

Workplace stress can often be alleviated simply by providing opportunities to fulfil basic human needs. In addition to being less stressed, employees who feel their needs are being met in the workplace, feel more comfortable, confident, and motivated to work productively.

Here are five simple practices that will help foster a stress-free culture in your company.

1. Develop a Wellness Programme

This is something Japanese businesses have known for some time: the company that exercises together, stays together. Working out as an office will not only build camaraderie; research shows that daily exercise out can be extremely effective in lowering stress.

Whether it’s a lunchtime yoga class or an office sports team, your company’s exercise can take many different forms. You could even arrange to have monthly matches against other companies – imagine competing in a football match against your leading business competitor! Working together to achieve a common goal on the field will translate to having a high-performing team in the office. It’s also a great way for people to get to know everyone in the company better.

In addition to providing opportunities for group exercise, you could bring in a wellness coach to speak to staff on ways they can fit daily workouts and proper nutrition into their busy professional lives. Having a healthy diet and regular physical exercise will not only reduce work-related stress; it will also lead to clearer and more creative thinking.

2. Mentor Young Talent

Research shows that employees who benefit from mentoring programmes have higher job satisfaction, which often correlates to increased productivity and reduced turnover. Frustration and stress over not knowing how to correctly do a job are some of the leading causes of turnover for many organisations; therefore, providing new talent with the scaffolding and feedback necessary to carry out their work correctly and effectively will increase both workplace efficiency and retention.

So, if you’ve recently hired an assistant accountant, it’s crucial to ensure that a more experienced member of your accounting team will be assigned to answer any questions they might have about using the SAGE 200 software your company just purchased.

Workplace mentoring programmes not only help new employees learn the ropes; they also help them to build strong professional relationships with senior members of staff. In addition to helping them perform more effectively, mentorships also give younger new team members a sense of belonging and worth.

3. Encourage Open Communication & Employee Feedback

Ineffective communication is one of the leading causes of workplace stress and discontent. One of the best ways to reduce anxiety in the workplace is to improve employer to employee communication channels as well as encouraging open communication between all team members. This will help to ensure that all employees are clear on their purpose and what their role is in the company’s shared vision, which will facilitate a reduction in work-related stress.

Another great way to help improve workplace culture and reduce stress is by implementing an employee feedback system, where all employees can provide feedback to your company’s leadership team. An employee feedback system will give your employees a sense of importance, allowing them to feel understood by giving them an outlet to voice their opinions and concerns.

4. Focus On Work-Life Balance

The secret behind many highly successful companies is their promotion of work-life balance. In addition to encouraging staff to make the most of their personal time, there are many things your business can do to promote a healthier work-life balance amongst your team.

You could adopt a flexible schedule, allowing employees to start/end work an hour or two later when needed. In addition to this, you could also implement a work-from-home scheme, where employees might be eligible to occasionally work at home in certain circumstances. You could even promote digital downtime by encouraging staff to go for a walk at lunchtime and take ‘digital breaks’.

Allowing employees to take time off when they’re feeling burnt out — or encouraging them to work from home when appropriate — can make a big difference in the health and satisfaction of your team. For instance, if your PA needs to stay at home during the week to look after a sick child, allowing her the option to answer emails and manage your schedule from home will help to reduce her stress while making her feel valued and appreciated.

5. Recognise and Reward Employee Achievements

Employees appreciate sincere and specific recognition of their contributions and achievements. Effectively recognising your team members will not only increase their sense of belonging in your company, but it will also simultaneously reduce any work-related anxiety while increasing their commitment to their role, resulting in a happier and more productive employee.

However, it’s important that employee rewards are not forced or seem contrived. While there are many ways you could show your appreciation, it’s crucial to ensure that your acknowledgements do not become expectations or entitlements. Each recognition should be tailored to the individual employee and the nature of their contribution.

Implementing an employee recognition programme that effectively rewards the successes of your staff, will not only help you to reduce stress and engage your employees, it will also work to attract the top talent you want in your company.

About Clayton Recruitment

Clayton Recruitment has been partnering with organisations across the country since 1989 and during that time has built up an enviable reputation for trust and reliability.

With specialist divisions covering Commercial, Financial, Industrial, and Engineering appointments, on both a permanent and temporary basis. If you are looking for your next career move, we can help. Call us on 01772 259 121 or email us here.

If you would like to download our latest interview checklist, you can do so here.

Keeping your company’s finances healthy is one of the most important responsibilities for any business. Every penny of revenue needs to be accounted for, bills and payroll have to be paid on time, and tax responsibilities need to be met.

In managing issues of credit and debt for your business, you can’t afford to cut corners. It’s vital that your organisation maintains accurate financial statements and records, and unless you’ve outsourced these responsibilities to an accounting firm, these tasks fall on the shoulders of the company’s accountant.

As your business grows, it would be a good idea to consider relieving yourself of financial management and working with a professional. If your company is ready to hire its accountant, it is essential that you find someone who is suited to your business’ needs. In this article, we’ll cover how you can find the right accountant for your company.

What to look for when hiring an accountant

If your company has the funds and is positioned for strong business growth, it makes much sense to bring on a full-time accountant. You’ll have the peace of mind knowing that a trained professional is keeping an eye on your company’s financial figures and growth at all times.

In addition to having business acumen, excellent organisational skills, and a strong aversion to risk, accountants must be trustworthy, highly precise, and great with numbers. Moreover, if they are working in a client-facing role or as part of a team, they also need to have great people skills. Finding all those qualities in one individual is a tall order. But to meet your business goals, you need to have the right people in place.

The best advice we can offer is to work with someone who understands your business. You could start by asking contacts in your industry to refer you to their recommended accountant or accounting firm. Working with a specialist recruiter in your industry – especially one who has served you well in the past – also has some advantages.

Once you’ve shortlisted some promising candidates, arrange to meet each accountant for an initial consultation. Here’s what you should assess during your interview:

An all-encompassing financial professional

Can the accountant handle your business needs? Depending on the size and complexity of your business, you may require a strong team to dedicate themselves fully to your business’ financial needs, working directly with you on high-level business planning.  Make sure whomever you choose to work with is capable of handling all of your present accounting requirements as well as those for the foreseeable future.

Assuming you’re hiring your first in-house accountant, you’ll likely need someone who can do it all, rather than specialising in a specific area. A well-rounded accountant should be able to not only maintain the company’s general ledger regularly but should also be capable of using it to point out trends and opportunities for financial growth.

They’ll also need to be able to manage payroll, ensuring that every employee is paid correctly and on time as well as managing expenses and paying bills. In addition to managing the ledger and payroll, your in-house accountant will be responsible for correctly paying your business taxes on time as well as maximising your deductions throughout the year.

Ability to communicate the numbers

Ultimately, you probably want someone who is able and willing to get past the jargon. Tax regulation, for example, contains a lot of technical language. You should look for an accountant who can explain high-level tax topics in an accessible way. An accounting professional who helps you understand financial topics more deeply will also enable you to better understand and manage your own business.

While communication is key in any job, it’s especially important for someone who solely manages a company’s finances. The nuances of accounting are complicated and difficult to grasp for anyone who isn’t a trained accounting professional. The best accountants can present these complicated concepts in layman’s terms.

You should seek an accountant who can meet with your leadership team and outline problems and opportunities in a way that everyone can understand — that way the team can discuss the best course of action and make the right decision.

An understanding of your industry and business type

Do they truly understand your business? An accountant who works predominantly with clients in your particular industry will hold specialised, up-to-date knowledge that could help you take advantage of tax breaks and deductions available to your business. They’ll also know how to navigate your type of business through any changes in tax law as and when they occur.

You should not only seek candidates who are well-versed in all aspects of accounting; you should also look for a financial professional who has the right background for your business. An ideal accountant will be familiar with how your specific company operates. If they already have experience working with companies in your industry, they are more likely to understand the costs and operating procedures of your business, which could be especially beneficial for tax preparation.

Additionally, you should seek a financial professional who has experience working with businesses at a similar stage as your company. They should know what opportunities and challenges lie ahead, so nothing catches them off guard as the company continues to grow.

An expert in the latest technology

Like most professions, accounting is being constantly shaped by new technology. Modern software helps accounting professionals efficiently accomplish tasks while giving them deeper insight into their company or client’s financials.

While many younger accountants are embracing this new technology, others continue to favour out-dated solutions. When meeting with a potential accounting employee, it’s crucial to ask them what software they use, why they prefer it and how they see technology impacting the profession in the future.

You’ll want an accountant who is up to date with the latest office technology, as well as someone who is willing to learn and embrace new technology. This flexibility and willingness to implement new technology will prove crucial to the future success of your company.

About Clayton Recruitment

Clayton Recruitment has been partnering with organisations across the country since 1989 and during that time has built up an enviable reputation for trust and reliability.

With specialist divisions covering Commercial, Financial, Industrial, and Engineering appointments, on both a permanent and temporary basis. If you are looking for help with recruiting call us on 01772 259 121 or email us here.

If you would like to download our latest interview checklist, you can do so here.

Highly skilled employees set your business apart and finding individuals with the right talent takes time and resources. This is why companies need to consider the importance of retention, rather than just focusing on recruitment.

Resignation rates are at 15.5% according to XpertHR. That figure is a five-year high, the need to improve retention is evident. Reducing turnover of staff isn’t just a cost-saving exercise. Staff that stay with you, are highly skilled and happy in their job make for a more profitable business that runs with fewer disruptions.

Cost of recruitment

Recruiting new employees is a cost to your business. According to research published by Glassdoor, the average time it takes to hire a new recruit in the U.K. is 27.5 days. This means one-twelfth of a year is spent on reviewing CVs, carrying out preliminary interviews, secondary interviews, communicating with recruiters and checking references. Factor in multiple hires, and that figure increases significantly.

Considering the amount of resource, time, money and effort hiring takes, it’s evident that concentrating efforts on retention becomes far more beneficial.

It’s never too early to think about retention

Onboarding is the first step towards retaining talent. Yes, of course, it’s more effective to retain existing talent than recruit new talent, but sometimes a new hire is what your business needs. Even before they start, a new employee needs to feel looked after – keeping in touch regularly and sending a welcome pack that explains benefits and expectations makes the perks of working with you clear and maintains their interest levels.

Brexit might be a source of uncertainty for many industries, but it seems to have sharpened the mind on one thing – ensuring your staff feel valued. CIPD found that 26% of organisations ‘report a greater emphasis on developing existing staff’. The report also highlighted that more organisations are involving employees with their business strategies and encouraging them to contribute their own ideas.

Management is your best defence against staff leaving

When staff feel secure and supported at work they are less likely to look elsewhere. Management must demonstrate excellent leadership skills, this isn’t just managing the workload or a team with exacting standards, it means having good soft skills too.

If you want to keep hold of your best employees, then you must also encourage them to manage themselves and be invested in their careers. Maintain regular contact with them through formal appraisals, informal and open discussions and put the ball in their court. If they feel that they have a say in their own work and career they’ll be more engaged and more likely to stick around.

Training and Development

These two words are the most important words in your vocabulary if you’re going to successfully retain staff. If your employees don’t have what they need to do the job then their focus and energy will be put towards finding a new position elsewhere. The Distance Learning College found that 69% of employees are ‘open to better opportunities’ and a huge 40% of staff leave within a year if they have received poor training.

A strong training plan for new starters will equip them with the knowledge they need to feel confident on the job. Encourage staff to think about their own development, support their plans and listen to them. Investing in your people shows that you’re dedicated to them and will increase their commitment to you.

Recruitment costs vs. benefits

Recruitment takes time, effort and resources. There’s no denying that the right hire at the right time can make a huge difference to the business, yet a revolving door of talent increases the cost of recruitment exponentially. Retention starts to look a lot more appealing if you weigh the cost of recruitment against the benefits of retaining staff. Time spent training and looking after your best talent will pay you back dividends, with happier staff, you’ll have happier clients, and your business will be all the more competitive.

If you enjoyed reading this blog you might like our other post: Talent drought: How to attract the best against the odds.

And if you’re recruiting now, you can talk to one of the team on 01772 259 121, or you can register your vacancy online.