HOW TO CHOOSE YOUR REFERENCES

Economic Outlook Roundtable: What Yorkshire’s Finance Leaders Are Saying About Growth, Hiring and the Road Ahead

Senior finance professionals from across Yorkshire recently joined Sharp Consultancy for an exclusive roundtable discussion featuring an economic update from Paul Mount, Economist and Deputy Agent at the Bank of England. The session provided a timely, in-depth look at the UK’s economic landscape — followed by a candid conversation about what businesses are experiencing on the ground.The picture that emerged was one of cautious realism. While official forecasts point to easing inflation and a gradual return to stability, many organisations across the region continue to navigate weak demand, rising labour costs, tightening legislation and stalled investment projects. Yet despite these pressures, there remains a strong sense of resilience and adaptability — qualities that have long defined the Yorkshire business community. At Sharp Consultancy, our specialist finance and accountancy teams speak daily to employers and professionals across commerce, industry, public practice and the not-for-profit sector. What we heard in this session closely aligns with the insight we gather from clients and candidates across the region. Below, we explore the key themes shaping business confidence, recruitment activity and the outlook for 2026. Inflation Is Easing, but Confidence Has Yet to Follow The Bank of England outlined its latest central forecast: Inflation expected to gradually return toward the 2% target. GDP growth set to remain modest but stable through 2026. Interest rates anticipated to settle around 3.5% based on market expectations. Unemployment projected to hold near 5%. However, the sentiment in the room was clear: despite improving headline numbers, confidence across most sectors remains fragile. Many organisations described the environment as “flat” — not contracting, but unable to capitalise fully on opportunities due to economic uncertainty. Sharp Consultancy continues to see this play out: businesses are stabilising rather than expanding, focusing on cash management, operational efficiency and carefully controlled hiring. Labour Costs Continue to Reshape Workforce Strategies Wage pressures were a recurring theme throughout the discussion. Employers highlighted: Significant increases to the National Living Wage. Higher employer National Insurance contributions. Expected future changes to minimum wage equalisation for younger workers. Rising cost and complexity associated with apprenticeships. These factors are pushing up costs at every level of the workforce and reshaping recruitment behaviours. Across Sharp Consultancy’s accountancy and finance divisions, we are seeing: Strong demand for replacement hires where roles are business critical. Lower volumes of growth hires, particularly in commercial and project-focused appointments. Clients increasingly prioritising candidates who bring breadth, adaptability and long-term value. Construction & Infrastructure: Capacity Under Pressure Leaders from the construction sector painted a challenging picture — one mirrored by many Sharp Consultancy clients operating across the wider built environment. Key themes included: Planning delays of 9–10 months, particularly related to the Building Safety Act. Businesses holding on to workforce capacity despite reduced margins — a strategy that may not be sustainable in 2026. Difficulty justifying new capital expenditure under IFRS when future cashflows are uncertain. Concerns that smaller subcontractors may not withstand prolonged delays or reduced demand.Yet, attendees also highlighted that construction could become a catalyst for economic recovery — provided policy reform and planning improvements unlock stalled projects. Manufacturing: Rising Costs and Shifting OperationsLeaders representing manufacturing shared concerns around: Rising energy and operational costs. Increased frequency of site closures and offshoring. Significant challenges in attracting engineering and technical talent. Early signs of contraction in several sub-sectors, with aerospace a notable exception. These pressures reinforce the growing importance of finance leaders who can model scenarios, manage volatility and guide long-term planning — roles Sharp Consultancy continues to support across the manufacturing landscape. Charity & Public Sector Organisations Facing Acute Strain For organisations reliant on local authority funding, the challenges are particularly stark. Attendees reported: Government and council funding caps. Rising NI, wage costs and VAT changes adding millions to annual budgets. Increasingly complex consultation requirements under forthcoming employment legislation. The likelihood of significant cuts to the frontline services in the months ahead.Sharp Consultancy’s continues to work closely with organisations navigating these pressures, supporting clients through restructuring, recruitment challenges and financial planning needs. Recruitment Outlook: Stability Over Expansion Across sectors, the message was consistent: 2026 is expected to be cautious, steady and focused on maintaining capability rather than expanding headcount. Attendees forecast: Workforce levels remaining broadly flat. Hiring driven by essential replacement roles. Transformation, M&A and large-scale project hiring likely to remain subdued. Improved recruitment confidence only once interest rates and policy direction stabilise. For employers, this means sharper competition for high-quality finance talent — an area where Sharp Consultancy’s specialist teams continue to provide targeted, market-led support. What Comes Next? A Slow but Steady Rebuild Despite the challenges discussed, the roundtable ended on a constructive note. Many leaders believe that once interest rates settle and stalled investment begins to move, the region could see a more meaningful upturn — potentially from 2026 onwards. Yorkshire businesses have proven time and again that they are resourceful, resilient and ready to adapt. Sharp Consultancy remains committed to supporting them through every stage — whether stabilising teams, recruiting future leaders, or navigating the next phase of growth. If you’d like to understand what these economic trends mean for your business or team, speak to our specialist consultants for a confidential market discussion. Contacts Us

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Choosing who to put forward to provide you with a reference is a key part of the job application process; after all your hard work in securing your dream role, you don’t want your efforts to be in vain with a poorly selected referee.

What is a reference?

References act as a third party endorsement – a seal of approval – that you are who you say you are and that you have performed the roles outlined on your CV. They are a beneficial way for potential employers to confirm that they have made the right choice in selecting you as their preferred candidate.

What information will be provided about you?

There are specific details that your current or previous employer can provide when giving a reference; length of employment, job title/role, brief outline of responsibility, overall performance, attendance record and reason for leaving. They can also state whether or not you would be someone that they would look to rehire in the future.

An employer is not obliged to provide a full reference – they may opt to simply provide a factual reference – however if they do, they must ensure that it is fair and accurate.

How many references do I need to provide?

It is normal practice to provide a minimum of two individuals, one of which should be your current or most recent employer. It is not always necessary to detail these on your application – ‘references available on request’ will usually suffice – however if you are required to provide names, there will most likely be an option to indicate that you would only like your referees to be contacted once an offer of employment has been made.

Do I need to put forward my line manager?

Not necessarily, but do select someone who will be able to talk positively about all aspects of your work. This could be your department manager, team leader or company director. It is important to ensure that whomever you wish to put forward, you have spoken to them in advance so they can give their consent and are prepared for request when it comes.

What information will my potential employer require?

When putting forward a person to provide a reference, you will need to supply their full name, their job role (and potentially outline how this relates to your current role) and an up-to-date email address and contact telephone number. Double check what the policy is at your current workplace in case there are specific procedures which need to be followed to obtain references.

I’m not sure who to suggest as my second referee – what should I be looking for?

Most importantly, who you put forward should be someone that you have a good working relationship with – this could be a former employer or colleague, a client or business associate, am customer or possibly a tutor or lecturer if you have recently completed a training or education course. Make sure that whoever you select is someone that you know primarily in a work capacity – not a friend or family member – and that they are familiar with your career progression to date.

And finally...

As well as asking people in advance if they are prepared to provide a reference, make sure you follow up any requests by thanking them for their time and letting them know when you have been successful in securing a new role – you never know when you could be calling upon them again!

Sharp Consultancy specialises in the recruitment of finance and accountancy professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for temporary, interim and permanent roles across the full spectrum of positions throughout Yorkshire and beyond. CONTACT US today and speak to a member of our team about your next career move.