Job-hunting tips for ACAs

The situation is affecting ACAs in all parts of the country, in the private and public sectors, and people of all ages. Those in their mid to late 40s and above are finding the market especially difficult.

Kay Griffiths, 48, a chartered accountant from Milton Keynes, has been out of work and job hunting fruitlessly for two years. "All the attention seems to be on youth unemployment, and very little on anyone else," she says. "It’s very frustrating and I feel more could be done for others who are affected by the current jobs market."

But Tim Hedger, deputy managing director at accountancy recruiter Marks Sattin insists that with fewer newly-qualified accountants on their books, the younger age group has also been affected.

"Nothing much has changed on the jobs front this year," says Hedger. "In our experience, the situation is affecting chartered accountants right across the board."

Resource management

However, there are job opportunities and more importantly, plenty of resources available to help ACAs make the most of them. According to the Chartered Accountants’ Benevolent Association (CABA), a charity that supports chartered accountants and their families, 21% of all calls that come into their 24-hour helpline (0800 1076163) and enquiry line are related to unemployment.

The organisation has responded by launching two new services that provide advice and practical support for unemployed accountants.

The first is Workfriend, a 24/7 online career management system, with a range of multimedia tools and three months’ access to an individual telephone career coach. And then there is Career Coaching, aimed at the longer term unemployed, and offering a face-to-face service supported by learning events.

CABA chief executive Kath Haines says, "To a certain extent employment success is also about being motivated and having confidence, and that’s not easy when you’ve been out of work for any length of time. We hope that what we are offering will strengthen people’s position as candidates and boost their confidence."

Age no barrier?

ACA Martin Lloyd-Penny knows how hard it is to cope with long-term unemployment. In 2004, aged 52, he was made redundant, and began a 12-month quest to find work.

"I felt I had a lot to offer an employer, but the feedback from recruitment agencies was that I was too experienced and over qualified," he says.

Frustrated by the rejections, he decided to put his expertise to better use and launched his own recruitment agency, Mature Accountants, with the aim of helping other long-term unemployed ACAs back into the workplace.

To date he has matched more than 250 of them with new employers.

"If you are over 40 and lose your job, it’s hard to get employers to consider you and recruitment agencies to take you seriously," Lloyd-Penny says. "I decided to target the SME business sector – firms with between £2m and £50m turnover.

"There are thousands of them, facing real challenges in the economy, reliant on financial expertise, and very keen to recruit ACAs with the knowledge and experience to pick up the job from day one."

Special delivery

Specialist, relevant skills could also prove to be an employment lifeline, says Tim Hedger.

"Look at what’s going on in broader finance and accounting circles, especially at areas of change where there is financial transformation and lean transformation activity. Employers are recruiting people with good technical skills and a grasp of lean project management, improving processes and cutting waste," he says.

In terms of more basic advice, what can those who are out of work and finding it difficult to even get to an interview do to improve their employability?

ICAEW career coach Bob Griffiths says that, "Updating your CV, highlighting your achievements rather than your responsibilities, will help you to stand out from the crowd. In terms of interview preparation, the best thing you can do is to speak to someone who is doing the job you want to do and pick their brains. That will give you a lot of in-depth information about the role."

Social enterprise

For those who have yet to take the plunge and start using social media, being out of work is one of the best reasons to sign up. "I would advise everyone to have a LinkedIn profile, making sure it is up to date, complete, and to use the platform to establish mutually beneficial connections with others in similar circles," Griffiths adds.

Self-employment is an option that many ACAs have successfully pursued, but setting up in business and having the skills to market your services involves a degree of risk and doesn't suit everyone.

But if it is employment you are after, do you know where to look?

The JobCentre may be the standard first port of call (although many ACAs have mixed views on its usefulness) but recruitment agencies and online job boards, including that of ICAEW and icaewjobs.com, are all worth pursuing. ICAEW is hosting a recruitment fair on 20 March, offering a good opportunity to get career advice and meet potential employers

Maintain your contacts

However it is worth noting that the vast majority of jobs, around 80%, are found through networks and personal referrals.

ICAEW development manager Rhonda Martin says, "People are often amazed by that figure, but it emphasises the importance of maintaining your network contacts, staying up to date with developments in the profession, and using all the resources available to you to boost your chances of finding a job, as many people have successfully managed to do."

 Alison Coleman