07 | 04 | 2021
Looking for a new finance role? How to use LinkedIn to attract your dream employer
If you’re actively seeking a new career challenge in accountancy and finance, LinkedIn could be the perfect place to find it. The professional networking platform has almost 740 million users worldwide, and over 90% of recruiters use LinkedIn as part of their hiring process. To attract your dream employer though, it isn’t enough to simply be on LinkedIn. You need to optimise your profile and learn how to use the platform to your advantage as a candidate. Not sure where to start? Here are some essential tips to bear in mind: Make yourself searchable Recruiters and employers make use of LinkedIn’s search tools when sourcing potential candidates. If they’re out there looking, you need to make sure you can be easily found. This means: - Using a standardised job title – one that describes what you actually do and is in line with industry-standard search criteria. Avoid ‘fun’, vague or overly descriptive job titles at all costs. - Picking out the key skills and qualifications that employers will be searching for – again, these need to use standardised, easily searchable terms. Keep your profile up to date Your LinkedIn profile should include every piece of important information an employer or recruiter could need. This means a profile statement that really ‘sells’ your skills and experience, an uploaded CV and a full timeline of work and experience. You can even add case studies, testimonials and portfolio work. With your profile statement, don’t be afraid to give it a little personality. This can help you stand out, and help the recruiter to get to know you a little. But remember that you only have a matter of seconds to impress, so keep it snappy, dynamic and concise. Remember to check your employment history timeline for any suspicious-looking gaps or discrepancies, as these can be off-putting. And for a finance role, a professional-looking headshot is usually a better choice than a Facebook-style ‘candid’ photo. Embed a video LinkedIn allows you to embed videos in your profile, so why not take advantage of this feature? A video can help an employer to get to know you, and give you the perfect platform to talk about your skills and expertise. This could be a smart way to get an edge on your competition. Be active To get yourself noticed among the millions of job-seeking finance professionals on LinkedIn, become an active member of the community. Feel free to post, to share your professional expertise and start some conversations. And join in discussions elsewhere, commenting on and sharing posts from others in your field. Think of it as virtual networking. You just never know whose timeline you’ll pop up on, and what that could do for your career. Set your ‘open to work’ status Last but not least, you need to shout it from the rooftops that you’re open to new opportunities. You can do this easily by setting your ‘open to work’ status on LinkedIn to ‘actively looking’. Just make sure you include the details of the kinds of jobs and locations you’re interested in. Remember – recruiters don’t like to waste time. If you’re currently employed and don’t want to alert your boss to your intentions, you can also adjust the settings so that your status is only viewable to licensed LinkedIn recruiters. Need help finding the perfect opportunity? Get in touch with our expert finance and accountancy recruiters here at Sewell Wallis.
15 | 03 | 2021
Working in finance - Long terms plans post-covid
The COVID-19 pandemic has turned the traditional world of work on its head. The changes born out of necessity have affected nearly all industries, including finance. A particularly pressing issue for finance decision-makers to ponder is recruitment. How will the coronavirus crisis impact on the industry’s ability to attract new talent, and will there be a marked changed in the kinds of roles being recruited in the long term? What will new hires expect of their workplace and working arrangements post-COVID? There are so many unanswered questions, and no one knows for sure what will happen once the worst of the crisis recedes. But let’s take a look at a few of the key considerations likely to affect the finance sector… Flexible and home working – is it a must for recruiting the best people? One of the big questions being asked in recruitment departments across nearly all sectors is – should we start offering flexible working as standard? Companies that would never have even considered remote working models have been forced to as a result of the pandemic. This has meant that we’ve all had time to get used to home working, and some of us quite like it. With more flexibility, there’s more time for exercise, lunchtime walks and even arranging childcare. And crucially, no dead time wasted on the daily commute. Although of course, there’s a flipside – where work bleeds into home life and workers feel they can never ‘switch off’. Some office workers find it stressful and difficult to manage childcare and care arrangements, and they miss the human contact and bustle of the office. But if businesses don’t support at least some flexibility in remote working, will they miss out on the best talent? If home working is here to stay, at least in some capacity, the best candidates are likely to expect and demand it. And they’ll go elsewhere if organisations stick to 9-5 office working patterns. Balancing flexibility with business need One of the biggest challenges facing finance organisations post-COVID is to balance what’s best for the majority of workers with what’s best for the business. Not all employees want to work at home full-time, and it may not have proven to be the most productive or efficient model for every business during lockdown. However, there are some encouraging statistics on that front. Those companies able to capitalise on the use of new technologies and adapt to the change during the pandemic have seen productive time shoot up by 5% or more, according to one recent study. People are working longer days, on average around 48 minutes more per day, and sending more emails. They’re also attending more meetings, although meetings are around 20% shorter using virtual meeting technology than previously. It’s clear that most businesses won’t be able to just go back to normal when the coronavirus crisis is over. There will need to be at least some wiggle room on working flexibility, even if just to maintain a competitive edge in the recruitment marketplace. For many organisations, at least a couple of days of face-to-face time in the office will be non-negotiable. Employers will need to take the time to talk to their staff, to find out what they need. It’ll also be important to look at the hard data for the business, to see how remote working affects productivity, morale, staff turnover and of course, the bottom line. What happens when location is taken out of the equation A few interesting things could happen if employees are no longer tied permanently to a fixed office location. To start with, finance businesses may be able to extend their reach when recruiting candidates. If location isn’t an issue, they can attract talent from further afield – if they can find the right approach to marketing new roles. The hiring process could be easier, widening the net to more exciting candidates when they no longer have to worry about commutable distances to the office. But where will this leave physical office space? Many large companies are already considering closing offices or downsizing. For businesses with no permanent office space, there’s the risk that this could put off potential candidates – as some really want or need access to an office base at least some of the time. For those that maintain some facilities, what effect will it have on the atmosphere of the office if more people are choosing to work from home? We can expect to see big changes in the design of office spaces to accommodate this, with more focus on collaborative working, hot desking and informal meeting spaces. The last thing to consider when removing location from the equation is talent retention. In one possible outcome, people may be more likely to stay with larger companies for longer, due to more progression opportunities. But there could also be more people staying put in senior level roles if they can be based at home. This could actually mean less opportunities for people to step up into a next level role with their current employer. Remember, you don’t have to navigate post-COVID recruitment challenges alone. Get in touch with our accountancy and finance recruitment experts here at Sewell Wallis – we’ll be with you every step of the way.
29 | 01 | 2021
Everything you need to know about IR35 as an interim finance professional
The new IR35 rules for off-payroll working have been delayed due to the COVID-19 pandemic, but are due to come into effect in April 2021. If you work in finance and provide services to your clients using your own limited company, these new rules could apply to you. So, let’s take a look at all the essentials you need to know about IR35… What is IR35? In a nutshell, IR35 refers to new off-payroll working rules. By bringing in IR35, the UK Government is hoping to close a loophole relating to ‘disguised workers’. These are professionals who provide their services to clients using an intermediary, such as a Personal Service Company (PSC) or their own limited company. If it wasn’t for the fact that services are provided through an intermediary, these workers would otherwise be classed as full-time employees or direct contractors. And they would be paying the same tax and National Insurance contributions. IR35 aims to ensure that all off-payroll workers pay broadly the same in tax and NI contributions. How IR35 will affect interim finance professionals The main change that IR35 will bring about relates to the employment status of each worker. You are likely to see your employment status change if you are an interim finance professional who provides your services to a client through an intermediary. For example, you may have your own PSC, partnership or limited company for example, or work through an agency. If you’re a sole trader, freelancer or work under an umbrella company, you shouldn’t be affected. If your client is in the public sector, they have the responsibility of deciding your employment status. If your client is in the private sector, you (or your intermediary) will be responsible for deciding the employment status for each contract. When will IR35 come into effect? Originally, the new rules were schedule to come into effect on 6 April 2020. But following the coronavirus crisis, this has been delayed in order to give businesses and workers more time to prepare. The new rollout date for IR35 is 6 April 2021. So, what happens next? If IR35 applies to you, it means that your fees from particular clients may be subject to different tax and NI contributions. The new rules may also have tax implications for the companies you work for – and some may consider their workforce planning strategy. But although there are concerns that IR35 will raise administrative and financial challenges within sectors such as finance, there is potentially a silver lining. For interim finance professionals, there will still be the flexibility to take on interesting projects with a variety of different clients – there are no drastic changes there. But what could happen is a shift towards more clearly defined projects for interim professionals. It is expected that the demand will remain for experts with highly specialised experience, to provide business solutions for specific projects. But clients will now need to give each assignment outside of IR35 a clear timescale and scope of work. Interim workers can continue to keep their distance from the politics of organisations, and put all their focus and unique skillsets into genuine, project-based assignments. Have questions about IR35? Get in touch with our accountancy and finance recruitment experts here at Sewell Wallis – we’ll be happy to help.
11 | 01 | 2021
How to successfully build and maintain a high performing finance team
Your finance team aren’t just number crunchers, and nor do they operate in isolation from the rest of the business. If you can find the right people and work hard to maximise their productivity, you can benefit from a finance function that enhances the entire organisation. Your in-house team will become trusted advisors, who add tangible value to your business. So, how do you start building this dream team of high-performing finance professionals? Of course, you’ll be looking for individuals with the right qualifications, skill set and experience to excel in a finance role. But just as importantly, you should be looking for team players with exceptional communication skills and an aptitude to add value. A compelling research study carried out by MIT a few years ago looked into what made a successful finance team. They discovered that individual talent seemed to matter far less than the strength of the team as a whole. Emotional intelligence (EQ) was found to be just as crucial as technical qualifications. According to Professor Alex Pentland, who conducted the study: “The best way to build a great team is not to select individuals for their smarts or accomplishments but to learn how they communicate and to shape and guide the team so that it follows successful communication patterns,” Since the study, major organisations such as National Australia Bank (NAB) have successfully adopted this strategy for finance recruitment. Developing a strategy for exceptional performance So, you’ve found an all-star team of experienced professionals, or bright sparks with the potential to excel within your finance team. How do you build and maintain exceptional performance? Here are some of the most important strategic points to bear in mind: Automation and super-efficient use of capacity (or outsourcing) can significantly reduce the cost of finance. In top-level companies, costs can be as much as 40% lower due to increased efficiency strategies. Improving diversity in your workforce is key to bringing a richer, broader range of ideas, talent and experience to the table. To build a great team, you need people from a range of backgrounds, who think differently and can challenge each other while still working as a unit. Your finance team need to feel valued, recognised and supported. Smart businesses will appreciate the vital role that all teams have to play and will implement ways of working and workplace benefits that foster wellbeing and employee engagement, whether this agile or flexible ways of working. Your finance team should collaborate and integrate smoothly with other key functions such as IT and HR, to increase operational effectiveness. Investing in high quality internal training is important not only for building team skills. It can also help you uncover and refine untapped talent, and mould individuals to fit the business. Trust and open communication with your finance team is everything. Employees who are trusted, valued and rely on honest communication from management are more motivated, and more likely to innovate. If you’re ready to supercharge your finance team, we’re here to help. Get in touch with our specialist accountancy and finance recruitment team here at Sewell Wallis to start your search for talented professionals who can drive your business forward. Call us on 0113 242 1200 or email firstname.lastname@example.org.
20 | 05 | 2020
Keeping that team feel alive
I have always been so aware of how lucky we are to have such a fantastic team at Sewell Wallis – we consider ourselves a family, however now we have had 8 weeks apart I am aware that we can’t just take that great team feel for granted. So how do we make sure that we remain in touch, that we look after each other and we retain that special bond. I have seen many blogs and articles over the last few weeks on managing remotely and setting objectives. With some of the team on furlough leave that’s not relevant, but even for those that are still working I truly believe our first priority has to be about them and how they are feeling. So what have we done over the last few weeks? Weekly team video call sessions – yes I know everyone is doing them however as I have already alluded ours are about us and rarely about work. We have of course been transparent about or ongoing plans and how we are managing the business over the last few months, however our focus has always been looking out for each other personally. It’s all so natural, everyone gets involved and we cover so much: new hobbies and interests, meeting each other’s pets and kids, laughing at dodgy fringes and the occasional shaved head, comparing exercise and eating habits and the bizarre list goes on. I have realised how much we actually laugh together and what a hilarious bunch they all are. Inclusion – Obviously the world of recruitment has slowed down which has given myself and the rest of the Sewell Wallis management team an opportunity to review our policies, dress code and working hours, amongst so much more. We were lucky that just before we went into lockdown we had conducted an anonymous survey with the help of Alpaca (www.alpaca.uk.com ) regarding what benefits and cultural beliefs are important to our people - all of our planning has been based around what will continue to keep our fantastic team happy. One of the key changes was to allow much more flexibility on hours, including start and finish times and regular remote working is now a long term expectation of ours – after all they have all proven their ability to remain just as effective, whilst gaining a better work life balance. Our revised Sewell Wallis handbook is being completed with a big emphasis on our new expectations around flexible working, a dress for the day policy and ensuring personal wellbeing and work life balance is achieved. Despite the new normal, this isn’t normal! I am so aware that this period affects everyone in different ways so I am always available for everyone on the phone or by zoom – just to listen and support when and if they need it. However I am also encouraging the team to chat often to each other as we all have so much to offer but we are also flagging up to each other the members of the team that we feel need a bit of a boost. Last week we sent a box of sweets to everyone, it didn’t cost a lot and it wasn’t hard to organise but it was received so well and gave them all a smile – but most importantly it reminded them that they are missed. It really shows you that it’s the little gestures that matter the most to people and just showing each other that we are thinking of them. Building an exciting future together– I appreciate it’s sometimes tough to find a positive in these unusual times however it’s so important to make the best of it and look forward to a positive and exciting future. We have new members joining the team once we return and we have included the whole team in bringing them aboard, many have met them via video call, messaged via LinkedIn and been involved in their training plans but most importantly they have been aware of our new recruits every step of the way. We are by no means special but we are lucky and I think the awareness of that and not being complacent is the key. Whilst I have waxed lyrical on what we are doing for the team I should also add what it does for me – I feel so grateful and lucky to have our Sewell Wallis family but they have also worked wonders on keeping me positive and cheerful and have constantly supported me. Stay safe everyone and keep smiling.
12 | 12 | 2018
It’s just a few extra “trimmings” - Increase in overtime during the Christmas period
Christmas can be a very expensive time of year, especially when it comes to the vast number of presents, the uncountable mouths we have to feed and the work Christmas do – but the real question is…how are people managing to afford to have the best Christmas ever? When the festivities are in full swing it seems like the British population either start to strategically plan how to have a smooth running Christmas and the rest of us go into a mad panic about how we will be able to afford the ‘perfect’ Christmas – with many of the stresses being over the luxuries we associate with this holiday. The total accumulation of the cost of Christmas per British household (on average) that includes; food, drink, clothing, decorations, presents, travel and other little luxuries – is a total of £1,805 but if the average household has two or more kids they are looking at spending an excess of over £2,795 - in order to cover the costs most families will have to save an average of £150 - £232 per month of their normal monthly wage (excluding overtime.) Throughout the UK, many professionals work overtime to be able to afford the expense Christmas brings each year, with some employees starting their overtime in early November, averaging out at an extra 75 working hours throughout the months of November and December, however some plan far earlier and can start their festive planning early in the year, the stats are: 54% - work overtime to cover the costs of Christmas 27% - start saving at the start of the year 14% - beginning buying presents throughout the year to cover costs To earn extra money most working professionals often; work overtime with their current employer (31%), take on a second job (37%) or seek ‘cash in hand’ or ‘under the table’ employment opportunities (32%) – these include; online surveys, money making apps, tutoring, selling household products, baby sitting, freelance work or working part-time within retail or hospitality. Christmas is overall an expensive time of year and people like to celebrate it in their own way, be it with family, skiing in the Alps or out celebrating the day – but when it comes down to it, Christmas is Christmas and you can’t put a price on a day full of festivities, love and joy. All the team at Sewell Wallis would like to wish you a Merry Christmas and a Happy New Year – once the festivities are done and we are all stuffed from our Christmas lunch it will soon be time to get back into the working spirit for next year. So why not beat that January rush and plan ahead for your 2019, Call us on 0114 268 3313 or 0113 242 1200 and we will be happy to help.
06 | 12 | 2018
With festivities in full swing and this year’s ‘Black Friday’ ecommerce sales exceeding 9.4% of the overall market’s seasonal sales – did retailers and SMEs fill their stockings with enough seasonal temps? The Christmas period is one of the biggest recruitment drives for many companies, particularly in industries such as Manufacturing, Industrial, Logistics and Retail – with online sales increasing year-on-year and exceeding predictions, are companies’ planning their interim team effectively to cover the increase in workload? “Having worked within the temporary job market for over 4 years the increase in demand for temporary and contract staff has increased year on year, particularly in the holiday and festive period. The main benefits of companies employing temporary & contracted members of staff is that they reduce the burden on the permanent staff allowing them to reach deadlines, reduce the backlogs and take much needed holidays. Considering how a reduced staffing period and increased workload can add pressure to both the staff and the company cash flow recruiting an interim is a cost effective solution.” – Natalie Rollinson, Temporary Consultant. The increase in the need for additional interim support is increasing within both practice and industry. Many accountancy practices make the majority of their revenue around this time, which is often known as ‘Tax Season’ and therefore plan ahead to expand their teams in order to cope with the increasing demand as the year-end approaches. Within industry companies often require support from external contractors, temporary staff and self-employed professionals at certain peak times. When companies pre-plan their temporary staffing needs they will work-out the optimum level of ‘normal’ workload for the business and predict the unexpected peaks they will face throughout the year, this predominantly covers them for any seasonal changes the company may face throughout their financial year. Why do you think temporary workers are important for business? “Not only do temporary workers make great additions to existing teams in busy periods but they are also very beneficial to maintaining staffing levels in absences, reducing company training costs and can even assist with the implementation of new accounting software. Our temporary workers have varied experience in different sectors, systems and areas across Accountancy & Finance from transactional level to part-qualified/qualified and above depending on the need of our client. As the Accountancy & Finance market is very candidate driven at the moment there is a limited amount of time for hiring processes to be conducted that correspond with the Hiring Manager’s workload; hiring temporary members of staff resolves this issue drastically, as most temporary workers are immediately available and are more flexible with their working hours. Most permanent candidates require flexibility and can have notice periods of up to 3 months’. We also meet our candidates prior to submitting their CV for any positions which enables us to give accurate information on the suitability and skill-set – because of this our clients trust our judgment and often don’t need to conduct interviews themselves for temporary staff.” – Chloe Wilford, Temporary Consultant. At Sewell Wallis, we have dedicated interim Consultants working on all levels from accountancy juniors to CFO level who have proven success in building relationships with both Clients and candidates to ensure the ‘right fit’. Call us on: Leeds: 0113 242 1200 Sheffield: 0114 268 3313
22 | 11 | 2018
What are the benefits of schools joining/becoming SATs or MATs?
The success of MAT approaches has shown how effective their teaching programmes are and how they’ve allowed them to take into account the varying demands of each subject taught within their schools’ syllabus, allowing flexibility throughout this ensures appropriate teaching, planning and assessment approaches are being adopted. Some trusts have already recognised the potential these approaches have on their pupils’ overall learning and teacher workloads by developing higher-quality curriculums. Outwood Grange Academies Trust has already adopted these models to collaborate a structure that is used across all of its seventeen secondary and five primary academies. “Over recent years MATs & SATs have been in the firing line of many educational professionals, but since they were introduced in 2010 there has been more benefits than disadvantages for schools, when it comes to joining a MAT or SAT. I believe that this is a necessary step in the development of education - not only for the success of the way they’re funded to make themselves more sustainable, but through how they now operate to improve the learning of their students – banding together to use the shared resources among their newly established networks.” – Farah Bano, Not for Profit Consultant, Sewell Wallis. Collaboration amongst MATs The aim of the MATs is to create a network group where innovation and collaboration impacts the outcomes of pupils within their trusts, through shared strategies that are ideally focused on their schools’ improvement, procurement, recruitment, retention, governance and much more. The benefits: Stronger Leadership: School Governors and teachers can combine their knowledge and planning abilities to work on challenges and solutions together – Shared knowledge. Strategic Management: Governors and trustees can draw on each other’s experience to formulate strategic approaches. Shared Staffing: Human resources within schools can work across multiple sites, particularly in a localised Trust. This can appease the recruitment challenges facing the teaching industry and offer more varied opportunities to staff. Specialist Resources: With combined funding in a Trust, specialist knowledge can be bought in many different areas, spanning academic, extra-curricular and operational functions. Professional Development: This can be organised across multiple schools, spreading the cost per school and upskilling as many individuals as possible per session. Economies of Scale: A Trust is able to purchase as a whole, thereby achieving economies of scale not achievable by schools as individuals. With ever tightening budgets, this can help schools maintain and build upon the resources and standards they aspire to. Shared Accountability: As a Trust represents multiple schools, it is in its interest to raise the profile of each, in line with rising expectations. The disadvantages: In 2017, Education Policy Institute found turning schools into academies doesn't automatically improve standards. Geographical Issues: difficulty to establish an effective network within the collaborative school governance if the schools within the MAT are considerable distance apart. Structural Distributions: After joining a MAT board you want to represent your school it could be possible the physical dynamics that attracted you in the first place may change overtime. Reputation: If schools struggle to maintain their standards whilst in a MAT, their reputation may suffer. Transferring from being a SAT or School into a MAT is why, it is essential school leaders carefully review their options before deciding on which MAT to join. There are some significant legal and operational challenges schools will have to face when joining a MAT, which includes moving their funding agreements from their current provider to the MAT they wish to join, as well as implementing a commercial transfer agreement of all assets and contracts. It also remains to be seen if MATs are flexible enough to offer a supported infrastructure that will benefit all schools within their trusts, and for many academies this already exist, making it a testament for those choosing to convert in the future. Joining a MAT or becoming a SAT is now a natural step within any school’s evolution and has become quite promising for the future sustainability for the UK’s education system. If you are a MAT or SAT and you require assistance with your recruitment, please contact Farah Bano: Mobile: 07813 974 503 Email: email@example.com For more info and to view our sources, please follow the links below; https://www.telegraph.co.uk/education/0/academies-pros-cons/ https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/576240/Multi-academy_trusts_good_practice_guidance_and_expectations_for_growth.pdf https://www.telegraph.co.uk/education/0/academies-pros-cons/ https://academytoday.co.uk/Article/is-joining-a-mat-the-right-decision-for-your-school
31 | 10 | 2018
In total the UK spends over £419 million on Halloween products and other confectionery goods each year. Mintel a global market researcher, has reported that Halloween has exploded in recent years, with overall consumer spending on the holiday continually rising since 2009 – up an enormous 263% between 2013 and 2016 alone, and shows no sign of slowing down. Halloween is now the third largest seasonal occasion in the retail calendar and is worth a monster £39.6m amongst convenience stores alone, growing at 8.7% year-on-year. This holiday is now a capital for sweet manufacturers across the globe and with new trends developing amongst adults, manufacturers now have more of a diverse market range to increase their overall sales. Tangerine Confectionery have already jumped onto one of these trends by capitalising on adults buying retro sweets that takes them back to their childhoods, they have released a new Halloween themed treat under their Barratt Brand just at the peak of Halloween sales. After the relaunch of the product (Tricks Mix - a retro styled mixture of sugary goodness and old style design) saw an 8.7% increase in sales. The 450g bucket contains a mixture of old school favourites, including Dib Dabs, Fresher Rolls, Foam Shrimps and an all-time classic of Cola Bottles and Fruit Salads. After the revamped launch Tangerine Confectionery positioned the sweets as their best seller in October 2017. “The Halloween confectionary market has grown by 34% over the last two years and we don’t expect this growth to slow down.” – Russel Tanner, Marketing & Category Director at Tangerine Confectionery. According to Euromonitor International, the Global Confectionery market’s retail sales are to rise by 2.7% this year to reach over £145.39bn. In early July sweet/confectionary goods manufactures started to promote their products online, with ‘Buy Online’ now being a main area for e-commerce sales, confectionery companies are using platforms such as Amazon, EBay and Etsy to promote their seasonal products. Amazon is the fastest growing influence for the candy industry and will ultimately be the biggest sales drive for confectionery manufacturers over the years. Amazon's total candy sales between September and October last year grew by 38% compared to 2016, with most of the growth being in October just before the Halloween period. The Attack of the Sugar Tax… Even after the sugar tax levy being introduced in early April 2018, manufactures haven’t really seen a dent in their quarterly sales or profits, with most of them having reduced the amount of sugar in their products prior to the tax even being actioned – predominantly the tax was introduced to tackle the amount of sugar in fizzy-drinks. However, the treasury have predicted the tax will increase to £240m within the fizzy drink industry alone. How could the sugar tax effect the candy industry in the future? Sweet/Confectionery Goods Sugar per 100 gram Tax per 100ml Current tax payable – British Sterling Predicted tax payable Skittles 47g £0.24 p/L for more than 8 g/100 mL £0.12 £.70 Starbursts 34g £0.24 p/L for more than 8 g/100 mL £0.12 £0.51 Blackjacks 41g £0.24 p/L for more than 8 g/100 mL £0.12 £0.62 Note: The predicted tax payable in this table is neither true nor false and has been worked out as a prediction of the current tax payable to give a rough estimate of where the sugar tax may be heading, and has been backed from global tax statistics already in place. The current tax payable has also been worked out from the tax payable within the fizzy-drink industry so may or may not be fully true when applying to a different set of industry standards.
25 | 10 | 2018
Study. Learn. Earn. - Apprenticeships vs University
The diverse world of education, careers and student pathways is fuelled by activity and developments. Among these new developments apprenticeships have now been given a 21st-century reboot, with the most significant change being the increasing number of degree apprenticeships available. In 2017 the government introduced a scheme known as the ‘Apprenticeship Levy’ to help prompt students to take a different academic route as well as supporting businesses to invest in their workforce. The Government’s primary aim is to increase the number of apprenticeships nationwide, pledging to create over 3 million new apprenticeships by the year 2020, in the bid to broaden the depth of UK talent and skills. The levy isn’t just for students, business owners are now able to up-skill their workforce by introducing fresh talent into their businesses, a study that was conducted by the Department of Education has revealed that most companies after hiring an apprentice have seen productivity growth and higher returns on investment. Benefits of an Apprentice Productivity Growth - New apprenticeship standards empower employers to train Apprentices to meet the needs of the business: improving efficiency, reducing waste, increasing return on investment. Developing Future Leaders – The Levy tackles concerns over the ageing workforces by providing opportunities for existing employees of any age to develop their potential of becoming future leaders. Technical Skills - Apprenticeship training perfectly addresses the skills gaps which many businesses fear will hamper their growth. Financial Incentives - There are financial incentives available to help employers develop their workforce or recruit new talent. "Apprenticeships are a key part of creating a stronger and fairer economy, where people of all ages and backgrounds can fulfil their potential; helping employers address skills shortages, upskill existing workers and attract new, diverse talent." - Media Planet Apprenticeship qualifications are now being recognised as an equal alternative to a Degree, since 2014 over 56,200 workers have enrolled on a higher level or Degree equivalent apprenticeship, as they are able to study a wider range of courses that offer qualifications equivalent to foundation and full masters’ Degrees. With the evolution of apprenticeship qualifications expanding, the Department of Education has marked this as a cornerstone in the development of apprenticeships; but there’s still much to be revealed about how the newly listed qualifications will sit within the current education structure. The pressure of deciding what route to take when starting your career can be daunting, and one of the biggest decisions of your life, if you are wanting to start a career within a professional industry such as; accountancy, legal or third party you are probably debating whether to study at university or as an apprentice. The main benefits: University You Have Access to More Specialist Jobs – Degrees aren’t always necessary to get a job, with more employers nowadays giving more value to work experience than qualifications, a Degree can act like a passport to more specialist jobs that you would otherwise not be able to pursue without. Increase Your Earning Potential – The latest report conducted by the Department of Education has released market statistics that show the working age graduate (16 to 64-year-olds) earn almost £10,000 more than their non-graduate counterparts, with some on an annual salary of £32,000. Developing Transferable Skills – Studying at university isn’t just about getting a Degree, it is also about developing and building key skills that will help you succeed further down the line in whatever career path you choose to follow. Key Transferable Skills Conducting Research Writing Essays & Assignments Working Under Pressure Meeting Deadlines Giving Presentations Working within a Team Managing Time Effectively More Employable – Being educated to a Degree level makes you more employable – in fact, the employment rate for non-graduates aged between 16 and 64 was 3% higher than for graduates in 2016 and 3.8% higher than postgraduates, according to the Department of Education Apprenticeship Apprenticeships have been labelled as the ‘easiest, fastest and most secure route’ to take when starting your career but that’s not all an apprenticeship offers. Structured Training – Apprenticeships are structured educational programmes that give you a chance to work towards a qualification of your choosing, whilst helping you gain the skills and knowledge you need to succeed in your chosen industry. Starting employment earlier means you have more potential to progress within your career as well as earning a salary. Experience – You are given the autonomy to gain relevant working experience in a professional environment and this shows potential new employers that you can ‘hit the ground running’. Hands-on training gives you a real advantage to put your skills into practice, helping you gain the confidence in a working environment. Earn while you learn – When studying as an Apprentice you will be paid to learn the key skills you need to develop in your industry, with the government covering the costs for your training. You’ll have no student loans, no tuition fees, and, hopefully, no debt. Also being a student without a degree, you will be eligible for apprenticeships that involve qualifications such as AAT, ACCA and ACA – something a Graduate must normally pay for once graduating. Choice – There are over 400 different types of apprenticeships to choose from, so if you’re hankering to follow a career in business management, sport, marketing, accountancy or engineering, there’s something for everyone. Varied Learning – Being an Apprentice means you won’t have to spend all your days studying, you will get hands-on experience; most of your time will be spent working at the company you are employed at. Some apprenticeships are completed solely at your place of work and others require you to study at college for a couple days of your working week. Studying for a Degree or an apprenticeship has been a long-running debate with both offering their own added benefits, but choosing your next educational move requires careful consideration. Higher education does continue to be a popular option despite the rise in tuition fees and student debt. At Sewell Wallis we work with Graduates that have just finished their Degrees in Accountancy and help them get into work. We work with a number of Accountancy and Finance firms that offer study support, meaning you can achieve your AAT, ACCA and ACA qualifications much faster than most other graduates. If you are a Graduate looking for a role within Accountancy or Finance please contact us on: Leeds: 0113 242 1200 Sheffield: 0114 268 3313 Email: firstname.lastname@example.org