A common theme at the event was the concept of “value” which linked nicely to the Budget. Speakers included Mark Horgan, Divisional Managing Director at Travelex, who inspired the audience with a case study on growing business in an global climate and discussed the need to focus on value creation not just EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization). Chris Stamper, Finance Director for Hays UK & Ireland, spoke about methods to develop and retain world class finance teams and Tim Pike, Change Agent for the Bank of England, gave his views on the UK economy and what may happen with inflation and interest rates between now and 2014.
The attendees’ opinions were polled during the event, enabling us to gauge important regional insight. This poll reveals:
- 64% of the finance professionals who attended the event feel their businesses has been fairly supported by their bank during the recession;
- 65% have plans to increase staff numbers in the next 12 months;
- 86% feel that their business plan over the next five years will result in inward investment into the Cambridgeshire region.
Karen Young, Regional Director of Hays Senior Finance, says: “Job creation is essential in terms of improving the UK economy so it’s a positive sign for the East of England that around two-thirds of those who attended the event plan to recruit. But we would like to see this increase over time.
“We welcome the Government’s new measures, announced in yesterday’s Budget, to support small businesses and its strategy to address UK skills shortages. However, it is existing employment legislation and the abundance of red tape that is really preventing growth. We need the Government to act quickly with regards to its plans to scrap £350m of business regulation and work with employers to ensure any new and existing regulation is easy to implement and supports both employers and employees.
“Growth also depends on addressing the skills shortages that we now face in the UK. It is positive to see that the Government plans to fund 24 university technical colleges, create 40,000 new apprenticeships for young people and fund 100,000 work experience placements. But these strategies will only be successful in closing the skills gap and reducing high levels of unemployment if we continue to engage with young people and the jobless to encourage them to train and develop skills in the more “in demand” areas. Ensuring the UK is an attractive place for businesses to invest will kick-start job creation and secure our economic growth.”
For further information about Hays Senior Finance visit www.hays.co.uk/seniorfinance
Hays Senior Finance, is part of Hays plc (the "Group") the leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Australia and one of the market leaders in Continental Europe. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments.
It is market leader in the UK and Australia, and one of the market leaders in Continental Europe. As at 31 December 2010, the Group employed 7,086 staff operating from 257 offices in 30 countries across 17 specialisms.
For the year ended 30 June 2010:
– the Group reported net fees of £557.7 million and operating profit before exceptional items of £80.5 million;the Group placed around 50,000 candidates into permanent jobs and around 180,000 people into temporary assignments;
– 26% of Group net fees were generated in Asia Pacific, 30% in Continental Europe & RoW and 44% in the United Kingdom & Ireland;
– the temporary placement business represented 58% of net fees and the permanent placement business represented 42% of net fees; and
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, China, Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Mexico, Netherlands, New Zealand, Poland, Portugal, Russia, Singapore, Spain, Sweden, Switzerland, UAE, USA and the United Kingdom.
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