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Recession proof your career

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5th May 2009
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Roland Seddon, regional director at Hays Senior Finance, offers advice on how accountants can progress their careers during the downturn.

Choose your sector wisely
Accountants are still in demand across a number of sectors, most notably in internal audit, insurance and public services sectors. The renewable energy companies that established themselves some years ago long before the recession are now coming into fruition and there are opportunities for strong candidates here. An increasing number of qualified accountants are also considering interim management as a valid career path.

Be flexible
If you are struggling to find work in the current market you should consider all of your options. Re-training in an area with skills shortages can help, but it is important to be realistic. Whether you are re-training or utilising your transferable skills in other areas, you must remember that you will be competing against people who are already trained and have experience in this areas. Even where there are skill shortages in areas such as internal audit, employers’ expectations continue to be high.

Go public
There are opportunities for budding accountants across the public services and not-for-profit sectors but it is impossible to be specific regarding areas of opportunity. The roles that are available may or may not suit someone coming from the private sector and each role will need to be considered on a case-by-case basis. Some organisations may be keen to hire someone with commercial experience, as they see it as bringing something different to the table. For example, the housing sector needs to be profitable and therefore projects must increasingly be run commercially. In turn, some employers in the housing sector are specifically seeking out FDs with commercial experience.

Organisations that are bringing in commercial systems or looking to develop IFRS projects are more likely to be open to an applicant that has come from the private sector. Speaking broadly, those coming from large corporate firms may have a better opportunity within central government, whereas those with SME experience might be better suited to roles within a similar sized charity. It is difficult to make any guarantees. The best thing to do is consider the nature of the role and be clear about what you individually can bring to it.

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