EMPLOYING PART TIME MEMBERS OF STAFF

Celebrating International Day of Accounting with David Cameron, Vice President of the LCASS

International Day of Accounting is an annual celebration to commemorate the publication of Luca Pacioli's book on double-entry bookkeeping in 1494 which is the bedrock of modern day accounting. In the modern day, International Day of Accounting is about the appreciation of the crucial work Accountants do and the recognition of their importance for business longevity and success. This year, we caught up with David Cameron of EY's Restructuring Team and Vice Presidentof the Leeds Chartered Accountants Student Society (LCASS) to gather his advice for those in the early days of their accounting career and insights about all things ACA.Starting a Career in Accounting 1.What advice would you give to someone just starting their career in accounting?I would say the sooner you realise that all of the exams require a fair amount of work and can’t be blagged (no matter how easy you found A-levels or university), the better. ACA is tough but I think it is certainly passable for most people, as long as you put the work in. The next big piece of advice I would give is if you go into the initial mundane tasks, when you first start, with a positive can-do attitude, it goes such a long way. The people who go into tasks with that outlook often find they move onto much more interesting tasks, quickly. Finally, the last tip I’d give to anyone starting out in accountancy is start building your network straight away, not only will it benefit your career in the end when everyone climbs the ranks together, it is even more beneficial from a social point of view at the junior levels. People you meet at networking events will become your friends and just enhance your overall experience when you are starting out. 2.How can recent graduates make themselves stand out to potential employers?It sounds cliché but I think showing your personality in an interview and just being yourself is something people feel as though they shouldn’t do. I really believe that that’s by far the easiest way to stand out. The majority of applicants will also have a great CV, the way you will stand out is by the employer thinking that they will enjoy working with you every day. Picking an ACA Specialism 3.Can you share some insights on the different specialisms available whilst studying ACA?Audit and Assurance:Examining financial statements and processes to verify accuracy and provide confidence to stakeholders through regulatory compliance. Tax:Advice on tax planning, compliance or strategy, dependent on what department of tax you’re in. Transactions:This could be a role in Mergers & Acquisitions/Corporate Finance, Transaction Due Diligence or Restructuring. 4.How did you decide on your own specialism, and what influenced your choice?I work within the Restructuring service line and absolutely love it. I’d always had a big interest in how businesses work operationally, and Restructuring allows me to assist businesses through times of distress with the hope that we can help to provide a solution to save/improve the business. Being in the service line I am in, it has allowed me to think outside the box and use problem solving at work as there is never the same solution for each business in a time of crisis, with solutions ranging from running an accelerated sale process of the business to possibly refinancing its existing debt. What the ACA Has to Offer5.What are the key benefits of pursuing the ACA qualification?First and foremost, the comprehensive skillset you acquire through completion of the ACA qualification shouldn’t be overlooked as it allows you to apply knowledge you have learnt from topics/exams usually unrelated to your usual job role to situations where it is required or even personal situations. I believe that the practical work experience you gain (at least 450 days of practical work experience) whilst completing your ACA enables you to improve your technical skills at a far quicker rate as you are utilising knowledge you have learnt at work on a daily basis, to better your understanding of the technical aspects, something which you don’t get to do at university or school. I would say the largest benefit is realistically the career flexibility and opportunities it allows you to have access to. As mentioned above, there are so many different avenues that you can go down through having an ACA qualification. If you don’t like one role, you can quite easily try something different. 6.How does the ACA prepare accountants for the challenges both inside and outside of the profession?As touched on above, the comprehensive knowledge gained from an ACA qualification is fantastic and can be applied to so many different scenarios outside of an accountancy role, such as personal tax planning or even the strong financial acumen gained to assist with running your own business. ACA also of course reiterates the importance of ethical behaviour and integrity throughout your studying period which helps instil such traits into students. Learnings from this will help students make correct decisions at work or even in their own personal life when faced with difficult choices. Personal Journey into Accountancy 7.Can you tell us about your journey into accountancy and what inspired you to choose this career?I joined the EY Leeds Restructuring team back in 2020 via the school leaver programme. I probably got unlucky with the year I joined given we were in the midst of the pandemic, however, what I was certain of even back then was no matter what, I still just wanted to get into work rather than continue full time education. I was keen on the potential qualifications I would come out of university with; however, I knew that I had always much preferred working throughout school than the education side of things. I was drawn to the Restructuring apprenticeship due to the element of problem solving involved and the opportunity to leverage commercial skills. Admittedly, I wasn’t overjoyed about the prospect of 15 ACA exams, however, I knew the end goal was worth it and provided some incentive. Four years later and I have completed my ACA and my apprenticeship. I’d recommend this path to many, for the experience and level of qualification I’ve been able to obtain by such a young age, coupled with the opportunity to meet so many people that will be mates for life. 8.Looking back, is there anything you would have done differently in your career path?Nothing I would change that’s in my control. It would’ve been ideal to have joined at a time outside of the pandemic as it did effect the social side of things for the first year or so. To find out more about the ACA click here.Looking for your next career move in finance or accountancy? At Sharp Consultancy, our expertise lies in matching your potential with the perfect temporary, interim, or permanent position. With a well-established presence in Leeds and Sheffield, our seasoned team of consultants extends their services across Yorkshire and beyond. Don't wait for opportunity to knock, reach out to us TODAYand let's chart your career path together.

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There are approximate 8.4 million part time workers in the UK. For businesses of all sizes there are a huge range of advantages to employing members of staff on a part time basis – but there are also several challenges which must be taken into consideration.

Advantages and disadvantages to employing part time members of staff:

Keeping costs down. Employing somebody on a part time basis can be an effective way to reduce staff costs in roles where there isn’t necessarily a need for someone on a full time basis.

Attracting the best talent. Having the option of part time work can help both with recruitment and staff retention; part time work can be attractive to parents with young families or those approaching the later years in their careers and are looking to reduce their hours. These people can offer a wealth of skills and experience and offering flexible and/or family friendly working arrangements can lead to improvements in staff retention.

Flexibility. Part time employees can enable a company to ensure that it has the right number of people in the right roles during times when business demands are greater. Roles and working hours can be determined around a variety of scenarios and may be fixed with an individual working fewer hours each day or working set days or alternatively a part time employee may work shifts which could vary on a week to week basis. There are also options around employing members of staff on term-time contacts or on a job share basis.

Staff morale and productivity. It’s not just part time employees themselves who can benefit; they can alleviate the pressure of workloads on full time members of staff – particularly if a business is relying upon overtime to keep up with demand – and therefore help reduce stress and combat low levels of staff morale in the workplace.

Additional costs. Part time workers can impact on costs and businesses need to consider that employing individuals on a part time basis can lead to additional expense – for example with benefits and training.

Recruiting part time employees:

As an employer, you will need to determine whether a particular role would be suited to a part time working arrangement. To do this you will need to take into account:

Objectives and outcomes. Establish what you want the employee to achieve and consider what time is needed to do each aspect of the role. Also think about the particular skills and personal attributes that will be needed and include these in a detailed specification.

Working hours. Think about whether there are elements of the job which have to be done on certain days or at certain times – this will help you understand how much flexibility there is in the hours you would require the successful candidate to work. Also consider whether the role is to be created on a part time only or job share basis.

Recruitment process and interviews. Make the process as convenient to those looking to work part time as possible to attract the best candidates; part time opportunities can open up the recruitment pool to applicants who may not have considered the position if it was on a full time basis. Try and schedule interviews at times which suit the part time hours being offered i.e. on the relevant days.

Managing part time employees:

It is important to consider how part time employees will fit into your existing team structure and to also give thought to how you will effectively communicate and manage those who are not working full time hours.

Communications. You must make sure that all part time workers receive all staff communications; you may need to contact them by phone, email or text message if they are not at work on a day when you make an important announcement or send out a message for the first time. For staff meetings and company briefings, try to find a time when all team members will be available or if this is not possible, hold additional sessions which will give every employee an opportunity to attend.

Flexibility. Establish whether your part time workers can work additional hours on major projects or attend meetings which fall outside their normal working hours. Are they happy to be contacted by you on days that they are not at work?

Training. Part time employees should have access to the same training courses which you offer to full time members of the team; consider if you need to make adjustments to how these are delivered i.e. inclusion of home study time and condensing particular elements of the course.

Employing part time members of staff:

Part time workers must be treated equally to comparable full-time employees who work for the same company and perform similar roles under the same type of employment contract. This includes:

Salary / rates of pay
Access to occupational pension scheme
Training, career development opportunities and consideration for promotion
Right to receive enhanced sick, maternity, paternity, adoption leave and pay as well as parental leave and dependents leave
Pro rata contractual benefits such as paid annual leave and staff discounts

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