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The unspoken downside of counter offers 30-Nov-22Ok, so a recruiter being prickly about counter offers is nothing new. But I’m not about to launch in to an attack on those who accept them. Sometimes you’d be a fool not to. Yes, it’s a shame it’s gotten to the stage you’d had to resign in order to receive the salary you need in order to stay, but if it’s enough and you’re not otherwise hell-bent on leaving, some will accept it and it’ll work out well for them. Plenty of recruiters do it themselves too. The bigger problem I see, is not for that individual, but for the impact on the wider finance function itself. Let’s say you’re considering the next step in your finance career. Which of the following finance teams would you want to join? Option #1. Very low staff turnover. Nobody ever leaves. When people do resign, managers are fearful of losing them and seek additional budget in order to persuade them to stay with knee-jerk pay increases. Promotion opportunities are therefore few and far between, with bottlenecks of long serving colleagues ahead of you – many of whom will have been priced out of a move elsewhere, so they won’t be budging any time soon. Option #2. A healthy level of staff turnover, with regular intake at junior levels who can work upwards through the team. Clear succession pathways exist throughout the department, but when someone reaches a plateau and there isn’t room to match their ambitions (you can’t continually promote everyone) they’re not given special treatment to stay and they look elsewhere for a fresh challenge. They move on. They’re thanked for their service and their departure creates room for others below them to increase their responsibilities a little further. Which do you feel would provide you with the best chance of progressing your career? Which do you think you might want to return to later in your career? IMO, leaders need to get comfortable with staff turnover. Each role should have a natural shelf life and where possible a succession plan. It’s healthy and it creates opportunities for others to progress and to enjoy fulfilling careers and personal development within your teams. You’ll be an attractive proposition when hiring and you’ll have an engaged and motivated workforce. Richard Hooper Follow me on LinkedIn for regular blogs and exclusive content: www.linkedin.com/in/richardhooper1/...
Market Update - April 2022 26-Apr-22Our latest Legal Accounts Market Update (April 2022) covering hiring trends for law firm accountancy and financial system roles is now available. To download the full document in PDF please click here...
Legal Finance Market Update - February 2022 17-Feb-22Our latest Legal Accounts Market Update (February 2022) covering hiring trends for law firm accountancy and financial system roles is now available. To download the full document in PDF please click here....
Legal Finance Market Update - October 2021 21-Oct-21Our latest Legal Accounts Market Update (October 2021) covering hiring trends for law firm accountancy and financial system roles is now available. To download the full document in PDF please click here....
Legal Finance Market Update August 2021 24-Aug-21Our latest Legal Accounts Market Update (August 2021) covering hiring trends for law firm accountancy and financial system roles is now available. To download the full document in PDF please click here....
Legal Finance Market Update - June 2021 10-Jun-21Our latest Legal Accounts Market Update (June 2021) covering hiring trends for law firm accountancy and financial system roles is now available. To download the full document in PDF please click here....
Legal Accounts Salary Survey 2021 - Results 11-May-21A big thank you to all of you who took the time out to contribute to our 2021 Salary Survey. We’ve once again had a huge response from the combined networks of the ILFM and Balance Recruitment to help collate the all-important data and have now crunched the numbers to see how big an impact the pandemic has had on salary movement over the previous year. We are delighted to present our findings here in this full report and hope you find this to be a valuable resource for the year ahead. If you would like to discuss any of the information in this survey or other market trends and benchmarking, please feel free to get in touch. Download the PDF here...
Legal Accounts Salary Survey 2021 09-Feb-21Balance Recruitment have once again partnered with the Institute of Legal Finance & Management, to conduct and produce our 10th annual Legal Accounts Salary Survey. As the finance functions of Law Firms continue to evolve rapidly, keeping track of salary trends in such times is an ongoing challenge for employers and individuals alike. Alongside the emergence of new roles, we’ve also seen US firms investing heavily in growth in the UK in recent years, with competitive salaries driving up market rates across the industry. The survey takes only a few minutes to complete, and is 100% confidential, with no requirement to provide your contact details. Take part here: http://www.surveymonkey.com/r/LegalAccountsSalarySurvey2021 The full results will published in April on www.balancerecruitment.com and via our social media channels. To receive a copy directly, please contact richardhooper@balancerecruitment.com Balance Recruitment is an award-winning recruitment consultancy, focussed exclusively on hiring for finance and finance systems appointments within the legal sector, both in the UK and Internationally. Established in 2008, we have maintained a stand-out reputation for delivering a quality over quantity service to a wide network of UK, US and International Law Firms, with a successful track record of appointments from CFO, Finance Director, Finance Systems Manager levels through to early career opportunities, and everything between....
Legal Finance Market Update - Feb 21 02-Feb-21Our first Legal Finance Market Update for 2021 covering hiring trends for law firm accountancy and financial system roles is now available. To download the full document in PDF please click here...
Quarterly Market Update Q3/4 2020 05-Nov-20Read our latest Quarterly Market Update for - hiring trends for law firm accountancy and finance systems roles. Download the full document in PDF by clicking here...
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