We spoke to recruitment experts around the world about how CIMA members can boost their employability as the recession starts to bite. By Camilla Berens, freelance journalist.
Recruitment experts say that the ability to demonstrate flexibility, added value and strong communications skills is the key to securing a job in the current, recessionary global market.
‘Businesses specifically want finance people who can translate the numbers into a coherent message that everyone can understand,’ said Chris McCarthy, a director at Hays. ‘Companies are also upskilling, changing organisational structures and developing new ways with new people. The broad training that CIMA members receive makes them strong candidates in this environment.’
As the recession continues, it’s best to be prepared for change. Heather Steele ACMA head of the financial and banking division of Adecco, advises CIMA members to make sure their CVs are up to date. It’s important to highlight your unique qualities as a management accountant.
An independent voice
‘Project yourself as a counsellor and style yourself as an analyst and problem solver rather than a number cruncher,’ said Steele. ‘Demonstrate how you have made yourself useful to the business by adding value. It’s also helpful if you can show that you have been independent within the finance function with a focus on ethics, compliance and policies and that you can bring an independent voice to the decision making process.’
Developing your range of skills is also strongly advised. Take up whatever different opportunities are available with your existing employer.
CVs should illustrate your key achievements. ‘Given the slower hiring market and the high levels of competition between candidates for available jobs, it’s advisable for people to take time in highlighting their career achievements, particularly if they relate to cost cutting, improving efficiency, securing lucrative contact and increasing revenue,’ said Vanessa Harding-Farrenberg, joint managing director at Morgan McKinley in Sydney.
Emerging markets
Members who are considering making a career move should research prospective employers thoroughly. ‘Candidates should know what is happening internally at the company they are seeking to work for so they can make their answers relevant and demonstrate how they will be able to deliver in the current climate,’ said Harding-Farrenberg. ‘It’s also important for candidates to be able to elaborate on the achievements highlighted in their CV to demonstrate how they are going to add value to the business.’
Emerging markets are still providing a range of new challenges for management accountants. In Singapore the two key elements that employers seek are versatility and an all-round proactive approach. ‘This applies to skill set and overall attitude,’ said Jeremy Canning, managing director of Morgan McKinley in Singapore. ‘Employers also really value generic transferable skills such as strong IT systems knowledge, project management and people management experience.’
There are also strong opportunities for management accountants who are prepared to stay in regions like Dubai for longer than average. ‘Because of its predominately international and largely transient workforce, retaining staff for longer than two years can be a challenge for employers in Dubai,’ said Christo Daniels, a manager at iQ selection, Dubai.
Consider non-executive directorships
To maximise career opportunities, CIMA members should tap into their recruitment consultant’s knowledge to find out where the best jobs are and what employers are specifically looking for. ‘Individuals should be open to considering opportunities outside their own local market,’ said Kirsten MacLeod, operational director of ECHM. ‘The Channel Islands and the Middle East are still experiencing good levels of hiring in many areas and can offer excellent career development opportunities.’
More senior CIMA members should also consider becoming a non executive director. ‘There are particularly good opportunities for non executive directorships in the public sector,’ said McCarthy. ‘This type of role looks good on the CV and shows you can think outside the box, take responsibility and communicate.’
At the most competitive end of the market, such as in financial services, differentiation is key. ‘The individuals who are securing jobs are those who have extensively researched the role, interviewer and company they are interviewing for,’ said Andy Evans, managing director at Morgan McKinley in London. ‘Once you know what is required for the role and match what you can offer, you should highlight the expertise which will set you apart. Creating a point of difference is essential in the current hiring market.'
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Leading in a downturn
January 2009