Surviving the downturn
The economic situation has had a profound effect on company budgets, resulting in headcount freezes across the Financial sector. Crucially for the PQ market, businesses that were investing in study support were forced to withdrew this staple resource. Michael Page has used its position of trust among key employers in the sector to find out how a PQ can survive the downturn.
With more candidates and fewer part qualified positions up for grabs, the competition has never been fiercer. Our clients can still be swayed by our expert opinion but, in what is without doubt an employer’s market, they can increasingly afford to be discerning when it comes to shortlisting people for interview.
Candidates with a strong academic record and professional qualifications should make the most of these distinguishing characteristics on their CV. Employers pay attention to the amount of time elapsed between finishing a degree and registering for the professional qualification, the pass rate of exams and, most importantly, the extent to which the theoretical level attained matches performance in the workplace; all too often candidates finish their professional studies and fill out their log books after the event.
The employers we spoke to also exhibited a marked preference for candidates willing to stay at their firm for 2 or more years. Especially on the lookout for individuals they can groom for management positions, businesses are unwilling to risk investing in people they suspect of being a ‘job hopper’. A candidate should also be able to provide a decent reason in interview as to why they left their last company, stating their motivations without coming across as negative.
As if in direct contradiction to the above (we did say it was an employer’s market) the businesses we spoke to were less likely to interview candidates that had stayed in the same role for too long, perceiving this as a lack of ambition. Changing jobs is good for developing skills in new areas and employers are looking for a CV that reflects this desire to advance.
Ambition is, without doubt, valued highly by today’s employers but a certain level of malleability is also essential if candidates’ energies are to be channelled effectively. An ability to absorb information, a desire to learn from mentors and a deft touch in delicate situations will stand any candidate in good stead in the current climate.
