Chartered Accountants can capitalise on the improving jobs market by conducting a simple career health check, writes Karin Lanigan.
This article is one that I have been looking forward to writing for some time, and the wider-reaching improvement in the jobs market now means that I can at last put pen to paper.
The first signs of a recovery in the jobs market for members came about 12-18 months ago. Initially it was the large corporates and multinationals that were recruiting, with their main focus at that time on recently qualified members. Over the course of the last six months, however, the pick-up in the market has gradually permeated into other areas with SME and indigenous businesses now seeing the need to recruit again. There has also been a marked increase in the number of organisations seeking to recruit more experienced Chartered Accountants.
It is clear that the recovery has started to take hold, with companies and candidates alike returning to the market with more confidence. This in turn is driving recruitment activity, and now is the ideal time to consider your options and reflect on the merit of a career move. Whether you are considering a change or not, there is always value in conducting a career health check every one to two years.
Here are some factors to consider when you are strategically planning your career or a potential job move.
Stay in touch
The market can change quickly, so it important to be aware of changes as they happen – particularly if you want to stay ahead of the competition. To do so, integrate the following practices into your routine:
- Register for updates from the Career Development & Recruitment Service offered by Chartered Accountants Ireland;
- Create Google alerts for relevant keywords;
- Monitor general media coverage of the jobs market, such as jobs announcements;
- Register for recruitment agency market updates and visit recruitment websites; and
- Attend CPD events.
By checking out job advertisements online, it is possible to gain a better understanding of what employers are looking for and what specific skills are in demand. You can then benchmark your own offering – it is good to know where you stand.
Know your value
You also need to be informed when it comes to your salary and market value. Whether you are planning a move or not, you should be assured that your salary and benefits package is in line with current market rates. Again this can be quickly determined through a conversation with our career development and recruitment team or a recruiter. Salary levels in general are edging upwards, with bonus payments also making a return.
If you are due to have a performance review, conduct your research well in advance to have a sense of what your skills and experience would command elsewhere. This will inform your approach in subsequent negotiations. If you are seeking a salary improvement, you should be prepared to explain why it is justified based on the value and benefits you bring to the organisation. You should also be clear about your plans for the next 12 months as this demonstrates focus and commitment, and will be of benefit during the negotiation process.
Refine your CV
Be sure that the format and content of your CV are in line with the expectations of employers and recruiters. There is now a clear focus on presenting competencies and specific skills in your CV, which is a notable shift from the role-based CV of old.
For your CV to the job it is required to do, which is to demonstrate your competencies and secure an interview, it needs to stand out and capture the attention of the reader. Tailor it to suit the role for which you are applying and highlight your most recent achievements from a professional perspective.
Also, include some detail about your talents and passions outside work as employers like to get a sense of you as a person. To lend additional credibility to your overall achievements, add metrics to support them and explain how they have benefited the organisation.
Leverage LinkedIn
LinkedIn is used by all recruiters. You need to have a presence, not only to facilitate your job search but also to enable effective networking. If you have updated your CV, you can use this as a basis for your LinkedIn profile. That said, LinkedIn does provide you with more scope to be creative and it can be the ideal vehicle to develop your personal brand.
When considering your LinkedIn profile, tailor it to reflect the type of role that you are looking for rather than emphasising skills and experience gained in the past. If you are looking to enter a new field, for example, you should emphasise your skills and experience relevant to the particular area. Likewise, joining groups relevant to this area will show that you have an active interest and will ensure those reviewing your profile realise that you are serious about looking for a change.
Effective use of the ‘headline’ section is essential, as are keywords throughout your profile. Step into the shoes of a recruiter and consider what words she or he might use to find candidates and use this as the basis for deciding what to include in your profile. If they are not there, you may not be found.
Update your skill set
Know what skills and experience are in demand by researching the specific requirements that are sought after. This can change rapidly, so it is important to stay in touch. Speaking with respected peers or contacting recruiters to understand what they see in the marketplace will help keep you informed. Today’s key skills include strong Excel and analysis expertise. The ability to extract, manipulate and interpret key financial information is very much sought after.
It is essential that you do not focus solely on technical skills, however. As your career advances and you progress into management and leadership roles, soft skills become critical to career success. Investing in areas such as communication and influencing skills, decision-making, people management, coaching, mentoring and assertiveness can impact positively on your performance.
Seek a mentor
The insights, advice and support of other professionals can be hugely beneficial and can play a key role in your career choices. Other like-minded professionals can provide you with another perspective and their advice can potentially save you making the wrong career moves. Good mentors also act as a sounding board and the process can allow you to reflect and gather your thoughts. Psychologically, having such support and guidance at your disposal can be a huge confidence boost.
Conclusion
Don’t get left behind as the market improves. Even if you are not actively seeking a new role at this point, conducting a general review of your career and the potential options open to you can be a worthwhile exercise. The time invested will pay dividends in the future and will ensure that you are in touch with the market should you need to transfer your skills, knowledge and experience to another role at short notice.
Career strategising is a continuous exercise that will enhance the longevity and sustainability of your career, so build it into your weekly development activity.
Karin Lanigan is Manager at Chartered Accountants Ireland’s Career Development & Recruitment Service.