Showing posts with label job hunting. Show all posts
Showing posts with label job hunting. Show all posts

Friday, 16 May 2014

Moving Abroad for Work: UAE and the Finance Industry, contributed by Emma Lathom



According to the Quality of Life Report conducted[i] by the Centre for Future Studies for Natwest, nearly 150,000 Britons are emigrating from the United Kingdom each year. Encouraged by the ease of contact with family and friends abroad via personal technology and mobile devices, many British workers are looking for work abroad, particularly in popular business locations such as the Australia and the UAE.

Popular destinations
The Quality of Life Report found that Australia and Canada[ii] were the top two destinations for British expats, with Australia coming out on top for Britons. Around 40,000 people move to Australia from the UK each year and the country now has up to 1.2 million British expats. Despite the potentially high cost of living, the sunny climate and high quality of life makes it a popular destination amongst those seeking a fresh start.

According to the report, the UAE beat the US and Hong Kong[iii], coming third on the list, with 75% of those surveyed suggesting that one of their main reasons for moving there would be career opportunities. Dave Isley, head of Natwest International Personal Banking[iv], suggests that this shift in views is one of the most notable in many years, with a large number of Britons stating that they’re willing to adjust their lifestyles in order to enjoy the stronger economy and better job opportunities available in the UAE.

The benefits of UAE
The UAE has quickly become one of the go-to destinations for British expats working within many industries. In general, the lack of tax is beneficial for any expats looking to earn a good money while avoiding outgoings. However, job growth is also causing Britons to flock to the country. According to the Monster Employment Index for the Middle East, banking, financial services and insurance[vi] sectors registered the maximum number of online job opportunities in the UAE, with a 9% grow year-on-year. This growth is only expected to increase after the UAE unveiled a new law[vii] that will aid job creation across the emirates.

The new law, which is currently being finalised, is aimed at boosting entrepreneurship using incentives as a means of creating jobs for a growing population. UAE Finance Minister Sultan bin Saeed Al-Mansouri says he believes that the law, which allocates 10% of the development bank capital to go towards helping the businesses, will come into effect within the second quarter of 2014, helping national and international workers within the financial sector to create a business of their own.
Of course, those wishing to enter the UAEs financial and accountancy sector via an already established company[viii] will also benefit from the country’s recent boost in attention[ix] from across the globe. According to Olivier Meier, senior mobility consultant at Mercer, an increasing number of foreign workers are being sent to the UAE for both short and long-term assignments due to the country’s new position as a key global economic hub.

Why Dubai?
Within the Emirates, Dubai is rapidly becoming one of the most popular expat destinations for finance and accountancy workers. The main draw for expatriates to Dubai is the zero rate of income tax, but financial workers are also attracted to the country to take advantage of its rapidly growing financial sector and the increasing job opportunities appearing as the industry booms.

This boom is partly down to the emirate’s recently unveiled plan to become the Islamic economic hub[x]. In December 2013 the Dubai government set up a new body for the financial sector, the Dubai Islamic Economy Development Center. As part of Dubai’s goal, the center will provide legal and other services to companies within the Islamic banking industry, boosting growth and encouraging the emirate’s transformation into an economic hub. However, this growth is leaving a shortage of qualified workers in the sector, and so has prompted a search for talented financial professionals. 

In order to bridge this gap, many institutions and companies within the banking industry are developing strong intern programmes to provide hands-on training for younger bankers looking to gain practical experience in Dubai. Muneer Khan, a partner at law firm Simmons and Simmons Middle East[xi], has highlighted the role that international workers should play in the development of Dubai’s finance sector, suggesting that expatriate bankers are required to help globalise the Islamic economic sector.

However, Mr Khan also stresses that many Dubai banks are unwilling to hire international staff without the right experience. Managing director of the Dubai International Academic City[xii], a free zone for international university campuses in Dubai, has highlighted the importance of training and education within the Islamic economy, and argues that the emirate is working hard to help international workers enter the industry. He suggested that industry experts, government officials and leading academics are already working together to identify the skills gaps within Dubai’s finance industry and help national and international workers develop the required skills to meet the sector’s needs.


[i] Gulf News http://gulfnews.com/business/general/thousands-of-britons-relocate-every-year-outside-their-county-1.1328497
[ii] The Telegraph http://www.telegraph.co.uk/finance/personalfinance/houseprices/10803090/Is-Dubai-the-new-Spain-for-British-expatriates.html
[iii] Al Arabiya News http://english.alarabiya.net/en/life-style/travel-and-tourism/2014/05/05/Fun-in-the-sun-British-expats-prefer-UAE-over-Europe-and-U-S-.html
[iv] Natwest International http://www.natwestinternational.com/nw/personal-banking.ashx
[v] Quotezone http://www.quotezone.co.uk/debt-help.htm
[vi] Emirates 247 http://www.emirates247.com/news/emirates/looking-for-uae-job-sectors-with-most-opportunities-2014-04-22-1.546572
[vii] Arab News http://www.arabnews.com/news/555126
[viii] United Arab Bank http://www.uab.ae/cms/
[ix] Gulf News http://gulfnews.com/business/general/uae-a-hot-spot-for-overseas-assignments-1.1325425
[x] The International News http://www.thenews.com.pk/Todays-News-1-244105-Dubai-seeks-to-become-Islamic-economic-hub
[xi] Simmons & Simmons http://www.simmons-simmons.com/en/Locations/Middle-East
[xii] Dubai International Academy City http://www.diacedu.com


Wednesday, 9 January 2013

Things are looking up - Accountancy Worldwide Recruitment Forum is Back!





Think Global Recruitment have hosted Accountancy Worldwide International Recruitment Forum since its launch in 2004. The forum is designed to bring together accountants that are seeking international career progression and companies that require to enhance their team by recruiting internationally.


We are re-launching the forum that will be held in London in April 2013, after 4 years away, due to the global economic downturn. Being an international recruitment company specialising in the accountancy and finance sector we have seen an increase in recruitment needs from our clients and we received requests last year for the event to be brought back.


Accountancy Worldwide is a great platform that gives accountants the opportunity to network with like-minded individuals that are also looking to secure international work. In the past we have had accountants meeting at the conference and then moving together with the same company, making the daunting prospect of moving overseas less so.


We are hosting the event in London due to the high demand globally for CA, ACA, ACCA and CPA qualified accountants. London is regarded as the one of the World's financial powerhouses and we have been given exclusive access to host the event at the Chartered Accountants' Hall. Hosting the event in the financial district of London ensures it is easily accessible for accountants already living in London but also for people that are traveling from further afield with every type of public transport available straight to the door.


The event has been held in London, Sydney, Johannesburg and Dublin previously and we have helped many accountants with securing their dream jobs. Think Global Recruitment's vision is "To improve the lives of everyone we work with" and by running this forum we feel we are making the international recruitment process far easier for both accountants and the companies we work with aiding their recruitment needs. This type of forum streamlines the recruitment process and minimises telephone/Skype interviews, giving a unique opportunity to bring these two parties together.

Visit www.accountancyworldwide.com for further information and testimonials.


OPEN FOR ADVICE - ASK ABIGAIL

It's the New Year and for many of you that means making resolutions of changes you wish to make in your life, whether it is starting the gym or changing jobs.

In my career I am proud to say that I have helped improve people's lives from every Continent in the World and understand the obstacles that are in the way of progressing your career Internationally. I have updated my blog to provide an 'Ask Abigail' section to allow anyone that has questions to ask. Just click on the tab or here to find the list of topics that I am happy to provide comment and advice on.






Above is a cut-out of a feature in the December issue of the CA magazine where I was asked to provide comment for accountants who are considering 'Finding work in Canada'. I was approached by ICAS to supply comment on the topic because of the experience I have in not only the Accountancy recruitment sector but also in regards to moving overseas and relocation. I take pride in providing honest and free advice and have in the past discussed provided comment in multiple international accountancy journals.




Wednesday, 24 October 2012

WE ARE NOT PREPARING OUR FUTURE STARS

Abigail Stevens, Managing Director of Think Global Recruitment writes...

A recent survey has shown that 45% of potential graduate applicants are being rejected for mistakes on applications, lack of interview preparation or technique. 47% are being rejected for a lack of relevant experience.

School leavers and graduates are not preparing themselves well enough for the business world.  They are underestimating work experience and a large proportion of first job applications being submitted for vacancies are being rejected for very simple and avoidable reasons.

Covering notes are essential when applying for jobs, consider it the introduction to the Company and role you are applying for. It is not good enough to just blindly send a CV to someone and expect a response. Use the covering letter to entice the recipient to read your CV. Fiona Godsman, the CEO of the Scottish Institute for Enterprise says “We get a lot of applications for our positions. If there is no properly tailored application letter, then they rarely get interviewed. Even worse, they haven’t changed the letter, so it says “I really want to work for xxxx”, with xxxx being another organisation!”

Emma Marriott , Director at Contract Scotland Ltd   Agreed with Fiona stating ‘Whilst we are trying not to be overly picky about spelling/grammar, if our adverts demand a cover letter and nothing comes through it shows another churned out application, inability to digest information or even take instruction!’

I personally have reviewed and provided advice to enhance literally thousands of CVs in the 18 years I have been involved in recruitment and am amazed that applications have got worse, not better in recent years.  In an age when everyone uses a computer to create an application, there is no excuse for spelling mistakes.   

For those that successfully pass through the CV screening process, candidates are failing badly at the interview stage. Lack of preparation for interviews is very easy for any experienced recruiter to notice. This can demonstrate the individual is not really that keen on the opportunity, that they may cut corners in the work place, or have a lack of attention to details.  One of the most bizarre questions I have been asked in an interview situation was when the candidate was asked if they had any questions, the response was ‘Yes. Can you please tell me what your company does.’   It is important to ask questions to engage with your interviewer but ensure that the questions show enthusiasm for the job and not a severe lack of preparation.

We have our future generation of the business world coming out of University with very desirable attributes but are letting themselves down in areas that are inexcusable.  Below are what may seem to be very obvious hints and tips, but are essential when it comes to applying for your dream job;

  • Use all the resources that your University offers you, placements/work experience in your area of study is absolutely priceless and shows a desire to work in that particular field, whether this is done through your University or off your own back.
  • Always, always, ALWAYS add a covering letter/email tailored to the exact job that you are applying for, not just a brief ‘Please find enclosed my CV’
  • Use the cover note as a sales pitch, it’s your 10 second introduction to entice the recipient into opening the Email and seriously looking a your CV.
  • Get someone else to read and re-read your application to ensure that every statement is required and makes sense.
  • Phone the company you’ve applied for a few days after you send your email, it puts a personality to your CV and makes you stand out, but always be polite.
  • Research the company as much as possible prior to the interview, the Internet is a tool that should be exploited, there is no excuse. Do your research as this shows how much you want the job.
  • Competency questions are as common as ever, research these to practice some answers in the line of work that you are applying for. This is a very good habit to get into.
 Top Ten application mistakes

10. Interview Technique – Interviewer ‘Please describe a time when you resolved a conflict situation and talked someone else around to your way of thinking.’ Interviewee: ‘At a night club last weekend, I had to talk a really aggressive guy around from hitting my mate’.

9. Application Mistakes – Application sales role.  Covering email said ‘CV attached’, they couldn’t even sell themselves.

8. Application Mistakes - Spelling mistakes on application covering email for PA role.

7. Interview Technique - Getting the interviewers name wrong at the start of the interview and continued to do so, but with different names each time.

6. Lack of Interview Preparation  - Applicant had final interview with the Managing Director. When discussing possible career progression, an organisation chart was produced. The applicant asked ‘so where do you fit on this chart?’

5. Interview Technique - Applicant asked why they wanted to work for the organisation they applied to. The reply was ‘because the agency told them to’.

4. Interview Technique - Interviewer asked applicant if they had any questions. Applicant ‘Firstly, what salary will you pay me? Secondly what hours do I have to work? I am looking for a life balance’. 

3. Lack of Interview Preparation  - Interviewee when asked if they had any questions about the job replied ‘yes can you tell me what your company does?’

2. Lack of Interview Preparation  - Financial Services professional thought he had the job in the bag. He was almost right. Being a specialist with highly sort after skills, moving from one major international firm in London to another. He turned up to his final interview late, with a black eye. No apology, but when asked said ‘I was out with a few of your staff last night and we got drunk, I fell over’. He really thought the name dropping regarding socialising with other members of their team would clinch the deal! The interview was keen to fill the position, but not desperate.

1.  Application Mistakes/Lies - An applicant had already applied to same company 2 years previously, but the process hadn’t moved to offer because they went elsewhere. The company was delighted to see they were applying again, until the original interview notes were pulled out. The dates on her previous CV and new one did not match. Whole jobs had been left out. Yes the new CV was more impressive; however it was a pack of lies.