Is flexible working a win win? | A contribution from Helen Crossland, Seddons Solicitors
Is flexible working a win win? | A contribution from Helen Crossland, Seddons Solicitors

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Commerce & Industry

Content Type

General

16/09/19

Summary

A contribution from Helen Crossland, Seddons Solicitors If we are to believe the statistics, flexible working is the winning ticket. For employees, it is often now a key consideration in any job move that agile working will be part of the package. It may also be a factor in why they are seeking a new role in the first place. Most businesses too are keen to fly the flag of flexible working, recognising the allure it has for potential new recruits and the positive, forward-thinking message it can send out about their business. While it may be secondary to the impact it can have to a businesses’ bottom line, if office space can be forfeited or used more resourcefully, flexible working at face value seems a wholly positive initiative. Flexible working brings other advantages - it is a widely acknowledged tool in promoting employee wellbeing. Employees who have more latitude and control over when and where they work are proven to have less sickness absence. Mental health issues in the workplace are also reduced. Operated properly, it can increase productivity levels and garner such satisfaction in employees so that they won’t leave. Put simply, businesses risk losing good people if they shun modern working practices. Particularly if the competition is busy investing in technology and smarter, leaner working methods which enable staff to work remotely and as efficiently as they do when they are at the office. The benefits that come from enabling employees to perform their duties from home, a hot desk or co-working space, some or all of the time, are undisputable. The reality however, is that agile working raises a number of practical challenges. Its work ability is governed largely by having the right infrastructure and IT support in place. Confidentiality and GDPR are also high-risk factors and have the potential to become a PR (and other) nightmare if laptops and paperwork are left unattended or on public display. Some businesses, because of what they do, simply cannot be as versatile as others. Moreover, certain roles do not lend themselves to being performed remotely owing to their managerial or supervisory nature, or the fact that the incumbent needs to be visible and on site. Problems can also arise where organisations offer flexible working too widely or without due consideration of business needs. It is not uncommon for organisations to have to row back on agreed working patterns when realising they are faced with a personnel or management vacuum on certain days. As for hot desking, there is strong evidence this is the least popular style of working and can be a significant source of stress and disaffection where individuals regularly have to engage in mid-week battles over computers and seating. Practicalities aside, trust and cultural issues still remain the foremost barriers to effective remote working. To help overcome these, a holistic approach needs to be taken on flexible working. This can be assisted by having effective policies in place which set out agreed parameters and which make it known that there must be equal flexibility on the part of the employee. Agile working may be something that an organisation offers to all employees as standard. In most cases it will be considered on a case by case basis however, as part of a formal flexible working request. Any employee with 26 weeks’ continuous service or more is eligible to apply to work flexibly. Applications can range from a desire to work fewer hours or days, compressed hours, varying start or leave times, or to work from home some or all of the time. Employers are obliged to give all requests ‘meaningful consideration’ and process applications, including any appeal, within 3 months of receipt. Unless a request can be readily granted, a formal meeting is recommended to discuss the application; the options then being to accept or refuse the request, or to agree a compromise including potentially granting a trial period. Any rejections must be based on one or more of the eight prescribed business reasons. Employers may understandably believe that when an application is granted, it will equal contentment in the recipient; appreciative of the ability to continue performing their role of choice while being better able to manage their other responsibilities and commitments. Not so according to the research which shows that 65% of employees who work flexibly or part-time report feeling less connected to their team, with 45% feeling their input is deemed less valuable because of their reduced working time/visibility. This is attributed to a host of factors including missing out on training and development initiatives, key/group meetings being scheduled at times they are not present, and marketing and social events taking place at prohibitive times. A conclusion to be drawn from the research is that employers should think twice about accepting requests if they are doing so reluctantly, or if they cannot ensure the employee’s working arrangements could be properly accounted for. If the business is unable or unwilling to be adaptable to those who work flexibly, it may be better to decline an application than risk opening up a whole new range of issues caused by an employee feeling devalued or side-lined. For a flexible working arrangement to succeed, it must be carefully managed with consideration given to the timetabling of meetings and events, the use of IT/ communications and ensuring that learning and development opportunities still include the employee as far as possible. Such measures can guard against employees being unwittingly or as the case may be, deliberately marginalised. For flexible working to be successful, there must be a two-way street and compromise on the part of the employee. Businesses are not expected to work around any one employee and if they do, run the risk of inciting resentment in others. There also needs to be recognition that an employee’s chosen work arrangements will inevitably cause them to miss certain opportunities and information, and that the employee needs to be equally responsible in minimising such gaps. The 10th edition of our highly regarded Market Insight Report represents the views of over 1,100 professionals, and contains insights from our specialist consultants and key business partners on market and employment trends.  If you’re looking to find out more on salary benchmarking and the motivations driving the modern workforce today, download our full report which contains key contributions from  Western Union Business Solutions, Women in Fund Finance, Intoo UK & Ireland and Breaking the Silence.

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If we are to believe the statistics, flexible working is the winning ticket. For employees, it is often now a key consideration in any job move that agile working will be part of the package. It may also be a factor in why they are seeking a new role in the first place.

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Becky Hughes

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Becky Hughes

Becky Hughes

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Becky Hughes

Market Insights 2019 | Commerce and Industry, London
Market Insights 2019 | Commerce and Industry, London

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Commerce & Industry

Content Type

Market Insight Reports

28/08/19

Summary

Part Qualified & Transactional The beginning of this year was busier than usual, with consistent job flow and healthy activity - junior professionals are less worried about moving roles with Brexit on the horizon. New budgets are set at the beginning of the year, and companies were certainly hiring. Newly Qualified 2019 got off to a subdued start, it’s often a challenging period where clients are busy with month/quarter/year end, and recruitment isn’t the priority. In addition to this, the political landscape made employers much more considered about their hiring strategy and we saw 17% less permanent roles being registered. In saying this, as the year has progressed, the volume of roles has increased and the market is buoyant. Our main challenge is that the market is in short supply of candidates. Reasons for this are that Q1 is a busy season for ACAs in practice so they do not have the time to interview, and also many permanent candidates are reluctant to move due to economic uncertainty. Qualified Interim The qualified and interim market enjoyed a successful 2018, with a record Q2 for the business. Albeit a slow start to 2019, the market gained some momentum after January. These peaks and troughs perhaps mirror the political uncertainty around how we are to leave the EU. Despite the turbulent environment, our data points towards a busy recruitment market where we are seeing increases in the number of permanent and interim roles being registered. Considering the UK’s high employment rate and the demand for high calibre individuals, there is an emphasis on engaging with passive candidates in new and innovative ways. INSIGHT: Will IR35 affect your business? Employees in the United Kingdom can be categorised as full-time, part-time, casual, freelance and contract workers, with the self-employed bracket now making up 15% of the entire working population. The number of self-employed workers jumped from 3.3 million in 2001 to 4.8 million in 2017, with a corresponding fall in the unemployment rate showing the overall boost in jobs growth from the rise in self-employment. Download the full Commerce & Industry 2019 Market Insight Report »  View salaries and commentaries in other UK regions and Ireland »

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The beginning of this year was busier than usual, with consistent job flow and healthy activity - junior professionals are less worried about moving roles with Brexit on the horizon. New budgets are set at the beginning of the year, and companies were certainly hiring.

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Pres Pillai

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Pres Pillai

Pres Pillai

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Pres Pillai

How is Fintech changing the commerce industry?
How is Fintech changing the commerce industry?

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Commerce & Industry

Content Type

General

10/12/18

Summary

Fintech is constantly rewriting the rules on how companies operate, how businesses lend money, and how customers pay for goods. It’s exciting to see how it’s changing the way we conduct transactions across the market, and it’s going from strength to strength. Fintech was the leading sector for investment last year, with UK financial technology firms attracting a record £1.34 billion in venture capital funding. With the fintech market constantly evolving, from blockchain to automation, let’s look at how it’s impacting commerce and people’s roles:  Flexibility and Accessibility  One of the key benefits of fintech is its flexibility and the ease with which it can be adapted to suit the evolving digital market. In today’s hyper-connected world, it offers accessibility; casual shoppers, business people, and even companies can access their money instantaneously on banking apps, and pay for services with the touch of a button. It’s a new way of doing business, and digital-only banks like N26 and Revolut are springing up to deal with this method of frictionless payment, challenging traditional banks as they do so.  Falling behind means losing business, and fintech is disrupting the rules of business. The trend towards instant accessibility is raising client expectations: companies need to ensure that they’re providing a high-quality online service to their customers if they want to remain competitive. Whether it’s a mobile-friendly service or a 24/7 helpline, flexibility and digital accessibility are today’s keywords, and this is creating a demand for faster, more efficient ways of doing business. Innovation in Auditing The rise of fintech has also brought about a revolution in the role of the auditor. Blockchain technology has repeatedly been hailed as a breakthrough in the burgeoning crypto economy, receiving more than £500m of investment in the UK alone over the past year- and for good reason!  Blockchain is a decentralised online ‘ledger’ that records all transactions made for a particular company. Each transaction creates a ‘link’ that is locked into an online chain of similar transactions and makes it extremely difficult to tamper with; to interfere with one transaction, you need to tamper with all of them.  The biggest challenge an auditor faces is having the relevant data on hand to carry out their daily responsibilities; now that businesses are operating essentially in ‘real time’, a blockchain ledger containing essential data for any business can be monitored and maintained by the internal audit team, and then verified by an external team. For anybody working in accounting, adopting blockchain is an excellent way to minimise error, risk and enhance accountability, whilst also freeing up time to concentrate on other important tasks.   AI and Conversational Commerce From deep learning to analytics, AI is playing a vital role in influencing the market. Indeed, fintech companies are turning to smart technology to develop new interfaces, such as apps, through which they can learn more about their client base than ever before.  Using smart software helps companies in commerce to automate day to day tasks like data analysis, freeing up time normally spent on time-consuming or mundane parts of their job to do more valuable, high-level work. In fact, AI can do everything from draft contracts to analyse customer data and create actionable insights into the way an organisation does business; naturally, fintech companies that provide this software are thriving.  The benefits go further. For accounting teams, using automation and RegTech can even help them detect fraud, as the system can process, analyse and monitor customer behaviour to detect suspicious transactions and flag them for further investigation. With so many uses, it’s no wonder that fintech is paving the way for teams to do their day to day jobs more efficiently than ever before. An interconnected market  With all of this innovation taking place, we’re expecting to see more collaboration between big business - especially in commerce - and smaller start-ups, as both sides seek to leverage the other's expertise and gain more visibility in the market. Companies like Mastercard are partnering with and nurturing start-ups in order to encourage innovation within the market; still others, like Visa, are partnering with start-ups like Paidy, which offers post-payment credit services for eCommerce customers in Japan. As the fintech market expands, expect to see more of this collaboration, as firms grow closer together in order to innovate their customer offering. Looking to the future with Marks Sattin At Marks Sattin, we’re excited to see what the future will bring for the commerce industry, especially as fintech strengthens its grip on the market. It’s time to get involved: take the next step in your career and become part of the change with our range of jobs in commerce and industry, or read our blog for more insights.   

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Fintech is constantly rewriting the rules on how companies operate, how businesses lend money, and how customers pay for goods.

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Pres Pillai

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Pres Pillai

Pres Pillai

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Pres Pillai

Midlands | Commerce & Industry 2018 Market Insights
Midlands | Commerce & Industry 2018 Market Insights

Teaser

Commerce & Industry

Content Type

Market Insight Reports

21/08/18

Summary

View commerce & industry market salaries within the Midlands. Download the full Midlands 2018 Market Insight Report here » COMMERCE & INDUSTRY  Job title Salary range Hourly rate  Finance Graduate £20,000 - £25,000 £10 - £13  AP/AR Assistant £18,000 - £24,000 £10 - £15  Accounts Assistant £18,000 - £25,000 £10 - £15  Payroll Advisor £18,000 - £25,000 £10 - £15  Credit Controller £18,000 - £25,000 £10- £15  Assistant Accountant £23,000 - £30,000 £15 - £18  Part Qualified | ACCA/CIMA £23,000 - £30,000  £15 - £18  Finalist | ACCA/CIMA  £28,000 - £32,000  £15 - £20  AP/AR Manager  £30,000 - £40,000  £18 - £25  Payroll Manager  £30,000 - £45,000  £18 - £30  Credit Controll Manager  £30,000 - £45,000  £18 - £30  Finance/Accounts Manager (QBE)  £30,000 - £45,000  £18 - £30   QUALIFIED  Job title Salary range Hourly rate  Newly Qualified | ACA/ACCA/CIMA | up to 2 years PQE £42,000 - £46,000 £200 - £250  Financial Reporting | 2 - 4 years PQE £50,000 - £55,000 £250 - £300  Commercial Finance | 2 - 4 years PQE £55,000 - £65,000 £275 - £350  Finance Manager £45,000 - £60,000 £225 - £325   FP&A Manager £55,000 - £70,000 £300 - £450   Financial Controller £65,000 - £80,000 £400 - £500  Head/Director of Commercial Finance/FP&A £80,000 - £100,000 £500+  Head/Director of Divisional Finance  £80,000 - £100,000 £500+  Finance Director £90,000 - £120,000 £650+  Chief Financial Officer £100,000+ £800+   View salaries in other sectors within the Midlands »

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View commerce & industry market salaries within the Midlands.

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Mark Higgs

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Mark Higgs

Mark Higgs

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Mark Higgs

North West | Commerce & Industry 2018 Market Insights
North West | Commerce & Industry 2018 Market Insights

Teaser

Commerce & Industry

Content Type

Market Insight Reports

21/08/18

Summary

View commerce & industry market salaries within the North West region. Download the full North West 2018 Market Insight Report here » QUALIFIED  Job title Salary range Day rate   Finance Analyst £35,000 - £50,000 £250 - £400  Financial Accountant £40,000 - £50,000 £300 - £400  Management Accountant £35,000 - £50,000 £250 - £400  Finance Business Partner £45,000 - £60,000 £350 - £400  Finance Manager £45,000 - £55,000 £350 - £400  Senior Finance Manager £55,000 - £65,000  £400 - £450   Financial Controller £60,000 - £85,000 £450+ PART-QUALIFIED  Job title Salary range Day rate   Finance Assistant £18,000 - £22,000 £100  Assistant Accountant £22,000 - £28,000 £100 - £170  Financial Analyst £28,000 - £35,000 £150 - £200  Financial Accountant £28,000 - £35,000 £150 - £200  Management Accountant £28,000 - £35,000 £150 - £200 TRANSACTIONAL  Job title Salary range Day rate   Accounts Payable / Accounts Receivable £16,000 - £22,000 £100  Credit Controller £18,000 - £25,000 £100 - £150  Payroll £18,000 - £30,000 £150 - £200   Payroll / Credit Control Manager £30,000 - £45,000 £150 - £250 CHANGE AND PROJECTS  Job title Salary range Day rate   Business Analyst £45,000 - £65,000 £250 - £400  Project Manager £65,000 - £80,000 £300 - £500  Programme Manager £75,000 - £90,000 £400 - £550   View salaries in other sectors within the North West »

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View commerce & industry market salaries within the North West region.

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Becky Hughes

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Becky Hughes

Becky Hughes

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Becky Hughes

Yorkshire | Commerce & Industry 2018 Market Insights
Yorkshire | Commerce & Industry 2018 Market Insights

Teaser

Commerce & Industry

Content Type

Market Insight Reports

21/08/18

Summary

View commerce & industry market salaries within Yorkshire. Download the full Yorkshire 2018 Market Insight Report here » COMMERCE & INDUSTRY  Job title    Salary range Day rate   Accounts Receivable Clerk £16,000 - £20,000 N/A  Accounts Payable Clerk £17,000 - £21,000 N/A  Accounts Assistant £17,000 - £22,000 N/A  Assistant Accountant | Part-Qualified £22,000 - £24,000 N/A  Credit Controller £18,000 - £25,000 N/A  Transactional Team Leader £25,000 - £30,000 N/A  Management Accountant | Part-Qualified £24,000 - £34,000 N/A  Management Accountant | Qualified £35,000 - £42,000 £160 - £230  Accounts Payable Manager £30,000 - £40,000 N/A  Financial Analyst £25,000 - £45,000 £150 - £250  Commercial Accountant | Qualified £35,000 - £45,000 £200 - £300  Assistant Manager £40,000 - £45,000 £180 - £250  Financial Accountant | Qualified £38,000 - £48,000  £200 - £300   Payroll Manager £30,000 - £50,000  N/A  Credit Control Manager  £30,000 - £50,000 N/A  Finance Manager  £42,000 - £50,000 £200 - £350   Financial Controller | SME  £45,000 - £55,000 £300 - £400    View salaries in other sectors within Yorkshire »

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Rafi Davies

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Rafi Davies

Rafi Davies

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Rafi Davies

Market Insights 2018 | Commerce & Industry, London
Market Insights 2018 | Commerce & Industry, London

Teaser

Commerce & Industry

Content Type

Market Insight Reports

20/08/18

Summary

The London commerce & industry Market Insight Report covers the following areas (click to view salaries): Part Qualified & Transactional Newly Qualified Qualified & Interim Part Qualified & Transactional After a slow start to the year, the market picked up, particularly on the permanent side.We are seeing an increase in demand for higher end part qualified roles, especially within management and financial accounting. Following a couple of stagnant years, we are now seeing an increase in salaries across the board at all levels. Counter offers are common and candidate expectations are rising.We expect the part qualified and transactional market to remain healthy throughout the rest of the year. It is an area of finance and accounting that is less affected than othersby external influences such as Brexit and Government cuts. Newly Qualified The year began very positively with an increase of 24% in job registrations compared to the same period last year - the newly qualified market has always and will continue to be busy.Newly qualified roles are constant as there’s a large demand for ACA/CIMA/ACCA qualified candidates. Generally, the more technical roles are better suited to ACA professionals coming out of practice and the commercial roles suit candidates with hands on experience in industry.We don’t envisage any large shifts in the future for the newly qualified market as demand is steady for these candidates. However wider economic factors will of course have an impact and the outcome of Brexit trade talks and transition deals will affect the level of investment for businesses in London. Qualified & Interim 2017 was a positive year with an improved job flow across most sectors at the qualified level, and this year is shaping up to follow a similar trend.Within the interim market, there has been an increase in job flow at the senior end. The air of economic uncertainty has positively impacted the contract market and there’s an equal balance of commercial and technical roles.Overall the market is positive and strong candidates who can pitch themselves at the right level and play to their strengths will always find good roles. Download the full London Commerce & Industry 2018 Market Insight Report »  View salaries and commentaries in other UK regions and Ireland »

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The London commerce & industry Market Insight Report covers qualified finance, part qualified finance and transactional salaries for 2018.

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Pres Pillai

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Pres Pillai

Pres Pillai

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Pres Pillai

Commerce & Industry | Newly Qualified 2018 Market Insights in London
Commerce & Industry | Newly Qualified 2018 Market Insights in London

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Commerce & Industry

Content Type

Market Insight Reports

20/08/18

Summary

View the newly qualified market salaries within London's commerce and industry sector. Download the full London Commerce & Industry 2018 Market Insight Report here » NEWLY QUALIFIED  Job title    Salary range   Day rate   Newly Qualified | ACA/ACCA/CIMA £45,000 - £55,000 £250 - £275   1 year PQE £50,000 - £55,000 £275 - £300  2 years PQE £55,000 - £60,000  £300 - £325    View London salaries in other sectors within commerce & industry »  

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Charlie Buddery

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Charlie Buddery

Charlie Buddery

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Charlie Buddery

Ireland | Commerce & Industry 2018 Market Insights
Ireland | Commerce & Industry 2018 Market Insights

Teaser

Commerce & Industry

Content Type

Market Insight Reports

20/08/18

Summary

View commerce & industry market salaries in Ireland. Download the full Ireland 2018 Market Insight Report here » COMMERCE & INDUSTRY  Job title  Salary range  Newly Qualified Accountant  €48,000 - €60,000  Financial Accountant/Management Accountant  €58,000 - €70,000  Financial Analyst  €50,000 - €70,000  Senior Accountant  €65,000+  Senior Financial Analyst  €65,000+  Internal Audit (across all levels)  €55,000 - €100,000  Finance Manager  €68,000 - €80,000  Finance Controller  €75,000 - €100,000  Finance Director  €100,000 - €140,000  Chief Financial Officer  €130,000+   View salaries in other sectors within Ireland »

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Matthew Fitzpatrick

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Matthew Fitzpatrick

Matthew Fitzpatrick

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Matthew Fitzpatrick

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