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​Sharp Consultancy Supports Yorkshire Children’s Charity’s annual schools day out at Cannon Hall Farm.

On Wednesday, September 11th, half of our staff from both the Sheffield and Leeds offices volunteered to support Yorkshire Children’s Charity. Each year, this charity provides hundreds of children from schools across Yorkshire with the opportunity to enjoy a fantastic day out at Cannon Hall Farm, and they rely on many volunteers to make this happen.​This year, over 600 children who might otherwise not be able to enjoy a day trip like this, partook in what turned out to be a brilliant day. Yorkshire Children’s Charity is very close to our hearts here at Sharp Consultancy as not only is it focused on the county we call home, the charity helps children who for a variety of reasons, are in a position of disadvantage. For many of these children, this was their first visit to a farm and possibly their first experience outside their local area. Apart from a brief deluge for 10 minutes at the start of the day and a light shower at the end the day, the rain mostly stayed away. The team from Sharp Consultancy, along with many other volunteers helped get the packed lunches delivered, drinks poured, biscuits distributed and joined the teachers showing the children around the farm – from reptile houses to the pig pens (much holding of noses and retching noises!), tractor rides to see Llama’s and reindeer, sheep racing, ferret racing, meerkats and mongoose. It was a day like no other.​No matter how old you are, if you think back really hard, you can probably just about remember the first time you saw a snake or huge monitor lizard in a zoo; or goggled at the size of a shire horse and the amazement you felt – multiply this by 608 children and you might just have some idea how special the day was. And don’t children ask the best questions. I have never been asked so many questions I didn’t know the answer to – ‘Why do snakes put their heads in that position?’ Why are some leaf cutter ants carrying leaves to their nest and some carrying them away from their nest?’ Why is that cow laying down and that one stood up?’  my answer – ‘it must be tired’ – there response ‘what’s it been doing to get tired?’ Or my favourite ‘What can run faster, a meerkat or a ferret?’. The team here at Sharp Consultancy had an amazing day (I think if enjoyment could be measured, we’d have given the children a run for their money!) ​It was a humbling and enlightening experience and on occasions, very emotional (my word, you really appreciate just exactly how lucky you are and have been). Most of all though it was a delight to meet 608 amazing young people, dozens of teachers and assistants (you really are heroes, and nothing will make me change my mind on that) and all our fellow volunteers and charity employees Annabel and Abbie – join the teachers in our collective hero worship. A day to remember…forever.​

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Salary Survey Update by Executive Director, Lee Sweeney

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What an interesting year 2023 was, characterised by a rather stop/start roller coaster ride as market sentiment waxed and waned.

The rarely seen before salary rises of 2022, driven by climbing inflation and a continued shortage in supply of skilled and talented people began to slow in 2023. A degree of normality returned, though not entirely as supply still fell short of demand (though by a narrowing gap) and inflation, though falling, remained stubbornly high, as did interest rates.

Turning to 2024, what can we expect? Q1 saw a distinct pick up in demand for finance staff at all levels. Inflation fell further, interest rates appear to have peaked and the belief is that they will drop and economic growth of 0.6% in the quarter finally rid us of the word ‘recession’.

The push by employers to return employees to a greater degree of office-based working (as opposed to home based) has continued. Employers seem to have found their confidence to push this issue a little further; anecdotally with many reporting a drop in output if the split is too biased towards home. Hybrid/flexible working continues to be a hot topic.

"The quiet period that was the last half of 2023 is now well behind us"

Historically, the M&A market (mergers and acquisitions) has often proved a foreteller of things to come. When that market goes quiet, usually a drop in demand for any type of finance staff follows within the next quarter or two and the opposite is true. This is probably because M&A is often closely associated with how strong business’ sentiment and confidence is. Currently, and again anecdotally, despite some evidence that might appear to the contrary (e.g. Deloitte withdrawing from the regional M&A mid- market in early 2024 and making their teams redundant) M&A advisors, transactional lenders and investors in the north have been reporting a sudden jump in WIP. So have we and as the largest independent, dedicated accountancy and finance recruitment business in Yorkshire we have a very strong sample pool.

Now comes the hard part where I stare into my crystal ball and try and predict the future; here goes: The quiet period that was the last half of 2023 is now well behind us. We have falling inflation, we expect falling interest rates, we have economic growth, and we expect more of it (though not at high levels), we have seen a real uptick in vacancies and as mentioned in the previous paragraph, M&A WIP appears to be building. I believe we will see a strong 2nd half of 2024 which whilst not rivalling 2022 will most likely be well ahead of pre-pandemic levels of 2019.

What does this mean for employers? Even last year demand never fell behind supply, the gap simply narrowed. That gap will probably widen again. When you hire you will need to be on your mettle. Salaries and benefits well need to be competitive. Flexibility (like hybrid working) will remain high on many people’s agenda and if you don’t offer any, hiring the best people will be much more difficult. Processes will need to be slick and proficient; they will also need to be quick. It will remain a seller’s market and you will have competition for anyone with skill and talent.

Lee Sweeney is Executive Director at Sharp Consultancy and advises major accounting practices, venture capitalists and banks in the North of England on the appointment of senior finance professionals; contact Lee on 0113 236 6300.