The Bank of England (BoE) announced this week that there is “no clear evidence” (yet) of a sharp economic slowdown after last month's vote to leave the European Union. The BoE reported that whilst business uncertainty had risen markedly most firms did not plan to cut hiring or investment. Sterling rose against the US dollar following the report which was more positive than other surveys indicating falls in business and consumer confidence. The British central bank has also surprised markets by holding interest rates. The uncertainty in the run up to the referendum did result in a slower market for finance recruitment in H1 2016. Now that a decision has been made and a new cabinet is in place, companies seem to be moving forward with recruitment strategies and Marks Sattin has seen uplift in finance jobs registered with many hiring managers quietly positive about future growth. Within financial services, FinTech companies appear to be largely unhindered by the EU referendum and continue to experience consistently levels of high growth. It’s an exciting time for FinTech as it is acquiring a larger stake of financial services market share, a recent study by PwC indicates that financial services organisations fear losing up to 23% of their business to FinTech in the next five years. Mark Sattin works with a range FinTech businesses from established listed companies to new start-ups and we have seen an increase in activity across the board from these companies. FinTech is becoming a highly attractive area for finance professionals to move into as the roles tend to be more varied than other sectors and have a significant commercial aspect. The sector provides the opportunity to work closely with high level internal stakeholders with a clear impact on business performance. The drive for high levels of growth within FinTech provides scope for exciting project work which could include fundraising, system implementation, process improvement and M&A work.
Content TypeCareer Advice
British Formula One ace Lewis Hamilton is no stranger to the headlines, and his attire is often subject to media scrutiny. A recent race day trip to the Sahir Circuit in Bahrain cast Lewis’s clothing into the limelight for a different reason due to his decision to don local dress. The driver’s social media activity seems to suggest that his efforts were a way of trying to fit into Bahrain’s local culture – which he had high praise for. Fitting into a culture is not just important for those visiting or conducting business in a foreign country. Just like different countries, different workplaces and organisations possess their own distinctive working cultures, and fitting into them is an important part of building strong working relationships and becoming a motivated and committed employee. Accountancy firms have distinctly different working cultures, as do in-house finance teams in big businesses, and accountants need to integrate when moving between jobs, while bringing their own flair to the role. Hiring managers and HR teams have a strong appreciation for candidates who make the effort to adapt to a new working culture quickly. While new working environments can be daunting at first, meeting lots of people and showing a willingness to work in fresh ways will almost certainly pay dividends. It’s also good to work out what the ‘norm’ is; some accountancy firms expect employees to get involved in extracurricular activities for the business, for example, and not doing so is perceived as under-performance. On the other hand, when trying to adapt to a culture, candidates should ensure they don’t go too overboard and risk making a Prince Philip-esque blunder..
Content TypeCareer Advice
You could be forgiven for missing the connection between career development and the mating rituals of the Bird of Paradise. But they’re there. This peculiar display highlights the importance of visibility. Accountants are renowned for being risk-averse and that can extend to wanting to keep a low profile at the office. That might seem like the sensible, cautious approach but you can’t be popular in your firm if you aren’t visible – and popularity can prove as important to your career as technical ability. Popular individuals receive more help and courtesy from colleagues and encounter less counter-productive behaviour (including rude reactions or withheld information) than those who are considered less popular in the workplace; sociometric popularity is one of the foundations of professional success. Even in a profession as profoundly cerebral as accountancy, popularity can pay dividends. Think this is beneath you? A bit trivial for a thrusting highflyer such as yourself to worry about perhaps? Think again. Catch them off guard and those in the know will admit the 2008 vote for senior partner at the UK’s largest professional services firm wasn’t decided on excellent client management, strategic vision, or technical genius – it went down to popularity and visibility within the partnership. And in the world of accountancy, you don’t get much less trivial than that.