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Monday, 26 January 2015 10:03

Temporary Workers' New Regulations

New rules come into effect this autumn to safeguard the working rights of temporary workers. 

But are employers ready for the legislative changes and who will actually benefit from them? The new legislation will protect temporary staff from being exploited as cheap labour and it follows lengthy debates between unions and employers on whether temporary staff should be afforded the same benefits and rights as permanent employees.

In line with an EU directive, a high-profile compromise was agreed between the CBI, TUC and BIS which will work to offer greater protection to temporary workers

Which is believed to comprise around 1.5 million people in the UK. The objective of the changes will be to bring parity of rights between temporary workers employed by agencies and those permanent staff employed directly by businesses.

In practice, this means that after twelve weeks in one role with the same employer, the temporary worker will be fully entitled to parity of basic pay with staff who are directly employed by the business. 

This will include extra entitlements and the hourly rate, along with other working conditions. They will also benefit from 'day one rights', which will begin when their assignment does and include access to staff canteens, childcare, transport and the right to be kept up to date about permanent roles being advertised within the business.

However, some are concerned that the new rules will create extra bureaucracy and work, particularly within agencies. And others are keen to avoid an impact on the flexible nature of temporary staff and see this market shrink.

A report by REC shows that flexible staffing is predicted to remain an economic growth linchpin, however, so these concerns may be unfounded as businesses seek to take on extra temporary workers'rather than commit to further permanent roles in the ongoing challenging economic climate. 

Industry confidence does seem to be increasing slowly and the benefits of a flexible workforce are becoming more widely valued. Experience shows thattemporary workers' are often shed first during the difficult times, but taken back the most speedily when growth returns again.

The rules may also provide a welcome opportunity for all businesses to review their employee policies in general and ensure that they are up to date with requirements. Some businesses will have hundreds of agency workers on their staffing lists, some of which may have been there for many years. For such businesses, it will be time to take stock and decide how they wish to make changes to comply with the new rules.

Written by Rachael Clarke -  Senior Associate Finance and Accountancy Recruitment - Interim and Temporary Recruitment
If you're looking for your next temp job - Temporary Jobs
To contact one of our specialist financial recruitment consultants call 0207 492 0700 or email: jobs@circlesquare.co.uk
 

Business Intelligence Systems Failing to Meet Reporting and Financial-Analysis Needs

Business intelligence systems are still - even after twenty years of operation - failing to meet reporting and financial-analysis needs. At the heart of every poor decision lies an absence of quality data and the repercussions usually translate into costs.

The Banking Crisis has Changed the Priorities of CFO's

Since the banking crisis and the subsequent knock-on economic effects, the priorities of CFOs have changed  from capital spending to an improvement in cash flow, a reduction in costs and a lessening of leverage. These strategic imperatives require confident and accurate decision-making. And although it is nearly twenty years since the first business intelligence systems started to emerge, there are still too many businesses attempting to understand the essentials of financial data and performance management information. They are making correspondingly bad decisions as a direct result of this.

Finance Departments Still Spend 70pc of their Time in the Production of Management Accounts

It is also interesting to note that the average finance department will still spend over 70pc of their working time in the production of management accounts and just 30pc analysing the detail contained within them. It seems still to be almost impossible to get a detailed analysis of profitability by line item or product, to accurately forecast cash flow or to drill down to line items via the nominal ledger.

The fact remains that FDs are not data analysts and organisations are struggling to integrate their data from a variety of business sources.

FDs are not confident in making accurate decisions on the basis of poor data and this means that many are reverting back to spreadsheets, despite a standard 40pc error rate (according to researchers at Harvard). Businesses need more timely and customisable reporting, the ability to forecast cash flow and carry out profitability analysis, manage inventories, forecast sales and plan for expansions or contractions.

Disappointing Market Offers

Business intelligence systems seem largely to have been disappointing so far because vendors haven't yet been able to understand the need for accountancy integrity. ERP systems hold vast reserves of high-value data, but in silos. Simply adding a BI layer onto such a system replicates data silos and makes reconciliation too difficult. Most generic BI tools also lack the understanding of complex financial data sets. They simply do not recognise balance sheets, currency conversion rules, accounts, consolidation logic routes or financial audits.
Businesses aspiring towards genuine accounting intelligence will need to ask whether the system can be fully reconciled and integrated with audit capabilities and whether it will avoid data silos and have specific functionalities for complex accounting without needing spreadsheets. The answer will come from ERP systems and a move away from generic business information systems.
 
 
Written by Adam Tachauer of Circle Square Talent
 
 
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Monday, 26 January 2015 09:51

Our Thoughts on the Budget Announcements

Budget Announcements

After waiting with bated breath for George Osborne's latest budget plans, many feel that the resulting announcements could have gone further. In the ongoing climate of austerity, Mr Osborne does perhaps lack the 'wiggle room' of previous administrations, but we do believe he could have done more.

We Would like to see Realistic Plans to Boost Business for SME's

As with many businesses, at Circle Square we would like to see definable and realistic plans to boost business for SMEs. Vague and insubstantial promises of future tax breaks simply aren't enough. One Saturday newspaper journalist has suggested that SMEs could be made exempt from the burden of Employer National Insurance Contributions, on the proviso that this was made effective from 6th April 2013, or soon after this date. We also feel that offering 'stealth allowances' via slowly increasing levels of personal allowance really achieves little of tangible value. The majority of people will barely perceive the difference and the change is hardly likely to provide significant motivation or to encourage further economic growth, or indeed full recovery. And yet the scheme costs the government an awful lot of money. We'd surmise that for the average person, a cut in the 20pc VAT rate would be welcomed far more happily and see an instant effect in retail.

Additionally, we feel that AIA rates are already high enough, so further capital allowances are not a priority. Both the basic rate of income tax and the corporation tax rates for small companies are set at the appropriate levels in the opinion of many. Older people will remember that rates of marginal income tax actually exceeded 100pc in the '60s, so a basic rate of 20pc and a top tier of 45pc cannot appear to be particularly punitive when viewed in the context of history.

What Businesses Really Want to see is a General and True Economic Boost

Capital expenditure on public infrastructure and construction projects provides employment and puts money into the pockets of those workers, with additional PAYE and NIC gains. These people will go and buy items that are subject to VAT. This all benefits businesses and government revenues.

What About Interest Rates? 

Regardless of government interference, the low rate of interest matters to few businesses, as the majority still cannot easily access the finance that they need, although the Funding for Lending scheme is starting to show some success. The government will still need to find ways to lend directly to SMEs, or provide incentives or grants, in the face of banks effectively shutting shop when it comes to lending to businesses. Most businesses would like to see true action on this point.
 
Written by Rachael Hoar of Circle Square Talent - 
 
 
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Monday, 26 January 2015 09:45

Reasons Why I Will Turn Down Your Job

How Not to Conduct an Interview

Interviewing isn't just a necessary skill for job seekers, but for those doing the hiring too. One slip-up, by either person, can instantly raise doubts in the other one's mind and leave them looking elsewhere.

So if you don't wish to leave your interviewees saying "No thank you" to your job offer, here are six interviewer pitfalls you want to avoid.

Negativity

Don't bad-mouth the organisation, other members of staff or the nature of the job. And don't talk yourself down either. Why? Because negativity is like a disease. It tells your prospective new worker that this is not a happy place to work and that you do not like your job.

Asking Pointless Questions

Ask questions that are relevant to the role. Don't waste your interviewee's time asking obscure questions, just to see if they can come up with something good under pressure. You're likely to just irritate them and make them less likely to want to take the job.

Talking Too Much

Remember to give your interviewee plenty of opportunity to communicate. If you don't let them speak enough, how can you know if they are going to be a decent fit for the position?

Not Saying Enough

On the other hand, if you don't give them enough information about the role they're interviewing for and the organisation, then they can't honestly agree to dedicate themselves to it. If they ask you questions about why the previous person left the role, what day-to-day life is like within the organisation and your aims, give them honest and carefully considered answers. It's these answers that will help them determine whether they are right for the role, which means not wasting their time or your time in the long run.

Being Unprepared

You're busy, they're busy - we're all busy. But when people have spent countless hours getting ready for an interview and have taken time out and travelled in order to meet you, they need you to be just as professional and respectful. So it's not a good idea to keep them waiting in reception for over half an hour or invent the interview questions on the spot.

Illegal Practices

Asking interviewees if they are thinking of getting married and having children or saying you usually hire people of a certain age could lead to legal action against you. Before you interview any person, learn about the important aspects of employment legislation.

Written by Mark Dewdney of Circle Square Talent - 

Finance & Accountancy Recruitment London

If you're looking for your next Finance or Accountancy Job opportunity?
 
 
 
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Monday, 26 January 2015 09:39

MBA`s what`s the real cost?

Putting a Price on an MBA

If you're spending a large sum of money on an MBA, the question of your future earnings is probably a preoccupying one. After all, a typical MBA business programme today can cost more than 40,000, along with additional expenses of around 13,000. This will coincide with a loss of wages for the two-year duration and an interruption to your career whilst you further your academic achievements. So exactly how much is your MBA likely to improve your earnings and just how likely are you to receive a promotion after you graduate? 

Well, most business schools produce metrics which include these types of calculations in direct response to such common questions. They can provide a useful insight into previous graduates and their resulting earnings, particularly when compared to pre-MBA salaries. Other indices to look out for include those which define the length of time to find quality employment and to progress rapidly after the achievement of anMBA.

But these measures will never be perfect. Many are subjective, such as asking whether graduates feel as though they achieved their career objectives as a result of taking an MBA. Some schools will boost their metrics by focusing on subjective rather than objective analysis.

London Business School's Successful MBA programmes

The most successful of MBA programmes in the UK continues to be the London Business School  It's certainly not cheap, costing around 57,000 for a course lasting between 15-21 months. However, from its 2011 intake, 93pc of its graduates had accepted a job offer less than three months after completion, at a salary averaging c.  75k. Three years after their graduation, students of London Business School's MBA programme can expect to be earning around 155k per year.

Many experts do believe, however, that students shouldn't risk becoming 'blinded' by money and should think more broadly instead about their options, asking why certain schools perform more strongly and considering which of these would be a good fit.

Recruiters are Willing to Pay a Premium for MBA Graduates

This sentiment is echoed by the Director of Career Services at the London Business School, Fiona Sandford, who credits the school's success to the student body and diversity of the faculty, combined with a balanced curriculum. Certainly, recruiters are willing to pay a premium for MBA graduates who are comfortable working in multicultural teams and who understand the latest developments and advances in business research and thinking.

MBAs are not just for high salary growth as they can also be used to move sector or achieve greater autonomy or a better work-life balance. You should choose your MBA according to your ultimate goal.

Written by Andrew Pringle of Circle Square 

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Monday, 26 January 2015 09:35

Forget 4G Mobile Network

Is 4G Mobile Networking Already Obsolete?

Towards the end of 2012 the UK got its first 4G network in the form of EE finally unleashing high-speed coverage in a limited number of areas. It made the ageing 3G services currently available across the country seem rather slow and outdated.
 
In the next few months we should see rival operators emerge with their own 4G offerings, since industry regulator Ofcom is close to wrapping up the spectrum auction that apportions particular frequencies to different companies.
 
2.3 billion has been generated by the auction, which is a little lower than the government had been expecting, but is nevertheless a welcome cash injection for the Treasury. It means that consumers across the country will soon be able to invest in a 4G mobile service at a competitive price.
 
Of course, those with their fingers on the pulse of the mobile industry will know that 4G data speeds and coverage are already about to be superseded by yet another generation of mobile networking technology.
 
Ofcom might be holding another spectrum auction in five years' time which will see the 700MHz frequency being sold to providers so that faster, more consistent mobile connectivity is available to a wider portion of the UK's population.
 
The main reason for this never-ending hunt for the next big networking advance is that average consumers are becoming much more data hungry than ever before.
 
Intensive tasks such as video streaming, online gaming and file downloads are already possible with 3G, but the data bottleneck means that there is often too much traffic on a network at peak periods to meet the demand, which slows things down for everyone.
 
Network providers and regulators know that the situation is going to get worse, not better, as a generation of people who grew up with smartphones emerges and puts even more pressure on our mobile broadband infrastructure.
 
If 5G is not so much about speed but about finally letting people access the content they want whenever they want it, without being slowed down because of traffic-heavy difficulties, then it will be a step in the right direction.
 
Of course, the UK has fallen behind other nations in the rollout of 4G as a result of network providers' infighting and the slow auction process. It seems sensible to start preparing for 5G now so that the country does not have to suffer from another delay.
 
 
Written by Rachael of Circle Square Talent - Finance & Accounting Recruitment
 
 
If you're looking for your next Finance or Accountancy Job opportunity?
 
 
 
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Monday, 26 January 2015 09:31

5 reasons why you hate your job

Can You Make Your Job More Enjoyable?

Is your job getting you down? Don't worry, you're not alone. A massive sixty per cent of US citizens have said they would choose a different career if given the opportunity.

That speaks volumes about our happiness in the workplace. So if you've not just been experiencing the occasional bad day at work, but rather your job has been making you unhappy for a while, perhaps it's time for something new. But before you make any rash decisions, first stand back and look at the big picture.

Ask yourself:

  • Is it this particular job that's making you unhappy or is it the industry that you're in as a whole?
  • Do you like the company you're working for and what they stand for?

Also, before you rush to hand in your notice, consider another question. Can you make your job much more enjoyable by making just a few simple changes? You may not be able to change your boss, your colleagues or the tasks you're told to complete, but you can change some things.

Be More Organised Clutter causes chaos.

If you're disorganised it may be causing you huge anxiety without you even realizing it. Are you always spending your time trying to track down emails and find important documents? If you clear away the mess, you will clear away the stress.

Less Stress

Speaking of stress, try to find some time each day to relax. If you only loosen up at the end of the week then you will be spending a lot of your life feeling anxious, which is very damaging for your health. And it is a rotten way to spend your time. So try to find ways to remain calm at work.

Look After Your Body

It may seem an easy solution to grab a chocolate bar each day from the snack machine and a coffee from the canteen, but the more junk you put in your body, the worse you will feel in the long run. Try fuelling your body with healthy alternatives. You'll feel much more energetic and ready to take on the day.

Improve Work Relationships

You have to see your colleagues every day. So try your best to get along with the other members of the team. Be empathetic if someone is dealing with personal problems   we all have a private life outside of work. Also try to notice when people need you to give them space or, alternatively, lend an ear.

Written by Chima Kanu of Circle Square Talent -Finance & Accounting Recruitment   

If you're looking for your next Finance or Accountancy Job opportunity?
 
 
 
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To contact one of our specialist consultants call 0207 492 0700 or email: enquiries@circlesquare.co.uk
 
Saturday, 24 January 2015 19:45

Can London Become the Tech Hub of the UK?

The Proposed “Tech City” Should Secure London’s Status of Tech Hub for the Uk

The Greater London Assembly has announced its commitment to increasing London's contribution to the world of technology, continuing a tradition of innovation which has been long established through the history of the capital.

 

London is a Major Player in the Digital Revolution

The 19th century saw the birth of cutting-edge industries borne out of the vibrant and inventive minds living and working in the city. The 21st century could follow in that tradition, with London becoming a major player in the digital revolution by offering the leading lights of technology a place where they can explore the possibilities afforded by a new age of consumer and business interaction.
 

Silicon Roundabout London’s Tech Hub

The Silicon Roundabout and Old Street areas of East London are fast becoming synonymous as a Tech Hub. The Tech community of London now supports over 24,000 businesses, all dealing with technology in one way or another and with 48,000 jobs, which is about 30,000 more than Paris, the closest contender in the European market.
 

Some of the Major Players in Tech have Brought Their Business to East London

This has become a self-sustaining centre which has demonstrable appeal to smaller businesses which are still trying to establish their place in the global marketplace as well as some of the major players in the realm of technology who have brought their business to the area, including Yammer, Cisco, Amazon, Google and Facebook.
 

There are many Factors Working in London's Favour 

When it comes to attracting this kind of business, not least the ubiquity of the English language, which is always a bonus to international companies. But being in an ideal time zone and having an enthusiastic, motivated and highly qualified work force is also a big plus.
 

The Proposed Tech City Demonstrates the Commitment Needed to Sustain Success

However, the success of the city to date can only be sustained with nurturing from those with the power to make it happen, not just in terms of encouraging these companies to continue to base themselves in London, but also by providing the kind of environment that the proposed Tech City Institute can offer in terms of supporting this growth and demonstrating a commitment to continuing development in the area.
 

With  50 million pledged by the government for the institute, it would be a physical manifestation of confidence in the future success of London as a hub of technology.

 

The Government must Devise an Onging Strategy for Technological Skill Development 

There is a lot at stake and the importance of developing the skilled workforce of the future is becoming increasingly apparent. Any government plans must include provisions for the bright sparks of the future by encouraging and inspiring them and offering opportunities for maximising the potential of those to whom the technological torch will be passed.
 
 
Written by Adam Tachauer of Circle Square Talent
 
 

To contact one of our specialist recruitment consultants call 0207 492 0700 or email: enquiries@circlesquare.co.uk

 
 
Saturday, 24 January 2015 19:38

Increasing Pay Levels for Accountants

Now is the Time for an Accountancy Job as Salaries Rise

If you are good with numbers and data and are interested in a successful career path that centres on finance, then an accountancy Job could be perfect for you. And right now it is a sector that not only provides stability but is also opening up a number of new opportunities for employees at all skill levels.
 

Accountancy & the Financial Sector Flourishing with Growing Job Opportunities

There is no denying that the job market has been seeing tough times of late and while some areas are suffering quite heavily due to the continuing credit crunch, with many redundancies and few new opportunities, accountancy and the financial sector appear to be flourishing. Accountancy in particular is proving to be resilient within the market, with rising salary levels and growing opportunities for qualified employees at all levels who want to move up and on.
 

Accountants Salaries Have Risen Significantly in Recent Years

Unlike many professions, Accountancy Salaries have risen significantly over the last few years, with the 2012/13 average numbers showing a rise of around 7%. Recent findings from a survey by specialist accountancy and finance recruiter Marks Sattin have shown that both annual pay levels and additional bonus payments have continued to flourish for accountancy staff. Average salary levels for experienced accountants have grown from around  60,788 in 2011/12 to  64,022 in 2012/13, which is a 5% rise, while bonuses have also risen with an average seasonal bonus of around  1,400, or up to 17% of the annual salary being received.
 

Accountancy is Proving a Sought After Skill in the Current Financial Climate

This is good news for the financial sector and could be associated with the current state of the economy and the need for businesses to seek experienced financial guidance to help steer them through the uncertain financial climate. With businesses both large and small needing to tighten their purse strings, solid financial advice is in high demand, making accountancy an extremely sought-after skill.
 

Accountancy Jobs Seeing Increased Security From Entry-Level to Senior Management

The strong salary growth is a good sign that accountancy jobs and the financial market are benefiting from stability. Accountancy jobs in particular are seeing increased security for entry-level trainees through to high-level management positions and it is thought that this boost for the industry will continue for the foreseeable future. This is good news for those already working in the sector as well as those who are considering training or about to start their careers. With more opportunities available for professionals at all levels, accountancy has become a popular choice for career progression and success.
 
Written by Chima Kanu of Circle Square Talent
 

If you are looking for a Finance or Accountancy Job our dedicated career advice section or more information on our finance & accountancy recruitment.

If you're not sure which career move would best suit your skills and experience take a look at our Finance & Accountancy Job ProfilesCFO Job Description    Finance Manager Job Description    Project Accountant Job Description    Financial Accountant Job Description    Financial Controller Job Description    Management Accountant Job Description

Our Finance & Accountancy Salary Survey 2015 is now available.

To speak to one of our specialist Accountancy Recruitment specialists call 0207 492 0700 or email: jobs@circlesquare.co.uk

 
Saturday, 24 January 2015 19:31

Will This Year See SMS Become the Way to Pay?

Will Mobile Payments Become the Way to Pay

Mobile payments have been a hot topic for the last couple of years and with consumers increasingly embracing technology, new ways to move money around are becoming the focus of attention. Innovations are coming from both banks and mobile providers. Barclays are offering customers the opportunity to make payments using their phones and O2 are launching their 'Wallet' feature which allows users not only to transfer money but also spend it in selected restaurants and shops.

 

Retailers are Bucking the Mobile Payment Trend

Now the retailers are getting in on the action and Starbucks is leading the field with their app which allows customers to pay for their coffee via their mobile. Paypal has also begun offering account holders the ability to pay on the move, although this is limited to shops  which can accept the payments as there is no option to make transfers between accounts.
 

One of the major players in the mobile payment market is Payforit

A consistent innovator in the field of mobile payments. They have developed their system since 2006 and it has become one of the easiest, simplest and most efficient methods of transferring funds online. With their customers' needs in mind, Payforit can lay any concerns over security to rest because there is no need to register personal details and there are fail-safes in place to ensure money is never moved without permission.
 

Contactless Payment

With both Visa and Barclaycard moving forward with regard to contactless payment, the barrier to increased engagement with the technology seems to be retailers' failure to embrace the system.

NFC has failed to live up to expectations, although this time buy-in is missing from the other side of the equation. Apple's refusal to adopt the technology meant the potential market was diminished right from the start and consumer interest in it  waned.

 

SMS Payment Could be the Mobile Payment of the Future

With the options so varied and confusing to customers SMS could potentially offer a simple solution. As 86% of all mobile users are already using SMS messaging regularly, familiarity might be the key to dominating in the mobile payment market. If a secure connection can be made between phone numbers and bank accounts, payments could be made without the need for any bank details to be entered and the fact that mobile phone providers handle the billing offers an extra layer of security. 

There's no need for smartphones or bank accounts and although there are some concerns over the way in which revenue would be distributed, SMS payment could be the mobile payment method of the future.

 Written by Rachael Hoar of Circle Square Talent 

To contact one of our specialist recruitment consultants call 0207 492 0700 or email: enquiries@circlesquare.co.uk

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