How to turn failure into a career-enhancing experience

The way we deal with adversity says a lot about us as people. It also says a lot about our skills as managers. Everyone will face a crisis at some point in their career. Whether it is a personal struggle or the collapse of a business, the events can be devastating, career changing or even life changing. But when managed correctly, crises can also transform a career positively. CMI’s Management 2020 report identified resilience as one of the top 10 traits of successful managers and leaders. Ou

Trend update: How student debt is crippling pensioners (of the future)

Since it was introduced in 1990, the amount of debt being heaped onto the shoulders of British students has rocketed. In the first year of the debt funding coming into force, the average student took on debt worth £390 a year, whereas in the 2015/16 academic year (up until November 2015) this had climbed to a whopping £12,330 – now that’s a lot to spend on baked beans and vodka shots! In total, graduates have now taken on in excess of £49bn of student debt since 1990. But what does this mean
Association of Accounting Technicians

The market most bookkeepers are overlooking

Bookkeeping is a £2bn industry in the UK, providing a vital service to Britain’s small and medium sized businesses, helping companies to grow and expand. But many bookkeepers are overlooking another lucrative sector of the market: accountants and fellow bookkeepers. Matt Scott speaks to Claire Owen-Jones from Loud & Clear Accounting to find out how bookkeepers can capitalise on this growing market. MS: How important are accountants and other bookkeepers for finding work? COJ: When you set up
Professional Manager

Business needs to do more to help young people moving into the workplace [New research]

Almost a third of young people aged 16 to 21 in the UK (32%) aren’t confident about finding a job near their home town in the next few years, according to the latest research from CMI and the EY Foundation. The report, Age of Uncertainty: Young people’s views on the challenges of getting into work in 21st century Britain, found that a lack of information about local job opportunities was an issue for 35% of young people, with a lack of connections, a steady decline in school-secured work experi
Professional Manager

Debate: Has collaboration gone too far?

A lot of the time, collaboration is necessary, and you need to keep one or two people in the loop. Problems arise when you include people on the periphery who don’t need to be involved in making decisions or helping things progress – that’s when collaboration backfires on you It can be a matter of ‘be careful what you wish for’: being in one loop is one thing, but being in 101 loops can be overwhelming. All of these things have ways of raising your attention, and what you have to do is find a w
Professional Manager

Managers lack the training they need to be successful

British businesses are struggling to find new recruits with the necessary skills, according to the latest white paper from CMI, and are then failing to train them adequately, worsening the problem. The new white paper, Skills First: Connecting employers, further education and training providers, is based on discussions from CMI’s July Learning Provider conference and found that 87% of employers report difficulties in recruiting certain key skills, and that 25% of all job openings in 2015 were l
Professional Manager

Tackling the gender pay gap and the new reporting requirements

British businesses have failed to make any progress on closing the gender pay over the last 12 months, with the 2016 Gender Salary Survey from CMI and XpertHR revealing that on average men are paid 23.1% more than women, compared to 22.8% in 2015. “Forty years after the Equal Pay Act, how can that be the case?,” CMI chief executive Ann Francke asked. “The answer lies in the fact that the gap, in most cases, is not the result of unequal pay. Instead, it reflects the failure to achieve a balance
Professional Manager

How the apprenticeship levy will affect your business

The latest government reforms around apprenticeships are changing the way the qualifications are perceived and how they are developing careers and boosting businesses. Apprenticeships are no longer the reserve of younger workers, with the removal of an age-cap and the introduction of the Apprenticeship Levy opening the door for many more British managers to benefit from enrolling on an apprenticeship scheme. CMI head of apprenticeships Alison Cox said these changes to the way apprenticeships a
Professional Manager

Lack of promotions for women fuelling the gender pay gap

Men are 40% more likely than women to be promoted into management roles, according to the latest research from CMI. The 2016 Gender Salary Survey from CMI and XpertHR, which analysed more than 60,000 UK employees’ salary data, found that 14% of men in management roles were promoted into higher positions over the past 12 months, compared to just 10% of women. But this trend is not a new phenomenon, with the CMI research finding that for managers who have stayed with the same employer for the la
Professional Manager

How mentoring can give your career a boost

CMI has launched an online mentoring service aimed at matching mentees to mentors according to the skills, experience or sector they would like to develop. Mentoring provides an opportunity for learning, for both mentor and mentee, and elevates knowledge sharing to a practical level, helping all parties to put professional management and leadership into action. CMI mentor Philip Davies said: “The resources provided on the website are really excellent. I have used them extensively with my mente
Malta Winds

MFSA defends its position over licence application delays

Applications to the Malta Financial Services Authority (MFSA) for licences to operate are missing targets set by the regulator. Data released in response to a Parliamentary Question revealed that over a quarter (26%) of applications received in 2015 were still awaiting a decision six months after submission, and 6% of the 205 applications received were still pending after a year. This means that licence applications taking more than six months to deal with have increased by eight percentage po
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