Newsletter 2nd April 2008

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How could the credit crunch affect your job?

Months after the credit crisis reached its peak we’re just beginning to see how badly the finance and accounting industry has been hit. As companies reduce their HR budget we’re seeing an increase in temporary workers from places that still need the staff but can’t afford to recruit full-time.

• First of all – decide whether or not you want to keep your job! If you’re not happy in your current role then use this as the impetus you need to start looking elsewhere.
• Work to keep your job. If you want to stay in your current role then you’d better give them a reason to keep you. You know how much you add to the company but your employer may not. So start putting together a list of your achievements within that company and show the areas where you add value.
• Get involved in a big project. Find out about any important, ongoing, projects within your company and think about how you could add to them. If you’re involved in a project lasting for months you give the company another reason to keep you on.
• Be prepared. It’s obvious advice but definitely worth taking. Start to update your CV and think about where you’d like to move to. This can actually be a great time to reassess your career goals and make sure you’re still moving in the right direction.
• Start looking for new opportunities. You don’t want to end up taking any old job just to pay the bills. So get ahead of the game and see what other roles are out there. Consider temping as a way to increase your experience rather than settling into a long contract with a job you don’t want. We’ve got loads of exciting temporary roles on our site which could really enhance your CV!
• Improve your CV. Fancy doing an MBA, learning a language or earning more CPD points? Now’s the time to do so. Anything like this will set you apart from others in the company and make you more of an asset!
• Add your CV to our database and make it public. This allows any potential employers to find you and gives you a much better chance of finding a new role.

Your future in Finance and Accountancy

So are you proud to be a qualified Accountant after getting your exam results? Or have you been in the industry a bit longer but without really considering the direction you’d like your career to take? We don’t want to sound like we’re nagging but if you haven’t given much thought to the future you need to seriously consider where you’d like your career to head and start getting it on track. Making the right choices early on can really set you apart from the competition later on in your career. There’s also the impact of the credit crunch to consider – with companies cutting back on recruitment you need to do everything possible to bag that dream job!

Of course, we know that your future in finance and accountancy should include GAAPweb – but what else do you need to think about when you’re putting together a career plan?

• Take some time to think about which parts of your job really motivate and inspire you. Then try to relate these to specific roles in the industry so you know where you’re aiming for.
• Once you’ve decided on a few potential career goals start doing some research. Talk to people who do those roles and find out the steps they took to get there or take a look at GAAPweb’s career resources section.
• Think about taking an overseas role. This can look great on your CV, especially if you take the time to learn another language. But be honest with yourself – would you take the role if it was UK based or are you being lured in by the idea of a better climate/lifestyle? For the latest overseas and Channel Island opportunities don’t forget to check out our site!
• You don’t have to move roles straight after qualification. If a better opportunity occurs then by all means go for it but avoiding leaving your current employer just for the sake of it. Ideally you want your career changes after qualification to show a definite career path. You also want to avoid looking like you job hop – loyalty is an important trait for most employers.
• Think about any extra skills that might enhance your CV and separate you from other applicants. A second language is a huge bonus but an ability to show interest in industry developments – perhaps attendance at relevant seminars and lectures – will also look fantastic.
• Accept that most of us don’t go straight into our dream job. But as long as you’re in a job that’s going to give you some good experience it’s worth sticking it out for a while – we all know good things come to those who wait!

Most of all though, enjoy yourself! Although it can be stressful at times, the fact that you’ve got your whole career ahead of you is really exciting. And if you need any more guidance – well you know where we are! In fact, while you’re mulling over your options, why not upload your CV to our site and make it public to allow employers to search it? You never know – your dream job might just find you!

Graduate Jobs market looks set to become competitive

You’d better get moving on your job hunt because new research suggests there’s more competition for graduate places than ever before!

As a response to the credit crunch and the following economic instability employers are cutting back on recruitment programs and even temporarily freezing recruitment of permanent staff.

The Telegraph has found that 270,000 students are expected to graduate in 2008. Unfortunately they’ll be fighting for just 75,000 jobs.

While graduate recruitment won’t halt completely, the market will become more competitive as employers become more and more selective.

It’s not all doom and gloom though as many employers are set to continue with their usual level of graduate recruitment. It’s just a matter of setting yourself apart from the competition:

• Make sure your CV clearly highlights any special skills, such as the ability to speak another language, which might make your application stand out.
• Keep up-to-date with developments in the industry – attending lectures and seminars wherever possible. If you can demonstrate a genuine interest and in-depth knowledge of your industry you’ll show employers how dedicated you are.
• Add your CV to our CV database, make it public and allow employers to find you.
• Be proactive – attend graduate recruitment fairs whenever possible. These will give you the opportunity to chat to people who’ve been in the same position of you. They’re also a great way to help you decide what kind of company/role you’re interested in.

Changes to Jersey’s tax structure

We know you’re interested in working in Jersey so we thought we’d better keep you up to date with the latest news there!

From 1st May 2008 Jersey is introducing a new Goods and Services Tax (GST) at 3% which will affect all businesses with a 12 month taxable turnover in excess of £300,000. This proposed threshold is one of the lowest in the world and is designed to relieve the majority of small businesses from the responsibility of collecting and accounting for GST and to help them maintain their competitiveness.

For consumers the 3% tax will be incorporated into the actual selling price and will be included on most consumer goods. In a measure to limit any increase in the cost of living The Council of Ministers has said there will be no new or additional taxes in Jersey before 2013.