Sabbaticals: considerations for employers and employees
The early years in a job are filled with learning: new skills, continued development and greater challenges along the way. For those lucky enough to love what they do in a workplace that meets their needs, years fly by – with some companies rewarding continuous long service or achievement with several weeks or months of paid sabbatical leave.What is sabbatical leave?Sabbatical leave used to be more commonly associated with academic professions, with educators traditionally granted a period of paid time off – usually one year – for further study or research. Similar opportunities have since filtered into other lines of work, with paid, part-paid and unpaid options, but are offered by relatively few employers across the world.Unlike career breaks, sabbaticals mean the work contract continues, giving employees freedom to explore without penalty. There’s no set format but it is recommended employers offer the leave on equal terms for everyone in the business rather than using an ad hoc system. A dedicated sabbatical policy can outline terms for both full-time and part-time employees to prevent misunderstandings and protect against discrimination and other claims – fairness and transparency are key.According to The Chartered Institute of Personnel and Development (CIPD): “Historically sabbaticals have been a benefit for employees. They are agreed for a variety of reasons including rewarding long service, travel, research or acquiring new skills, voluntary work, alleviating stress and burn out or to take care of health. In current times the motivation behind sabbaticals may be more for the employer’s benefit to provide alternatives to redundancy.”With greater focus on employee mental health and wellbeing, meaningful benefits such as sabbaticals can also encourage a member of staff to spend longer with the business.Having found their niche in a team and given the opportunity and resources to achieve and excel, many employees feel valued by the prospect of a morale-boosting sabbatical. What better than a reminder of approaching eligibility for a well-deserved break – usually starting after five years’ service.How much sabbatical leave should be offered?There is no law that says a business must offer sabbatical leave, paid or unpaid, but it is increasingly being introduced to attract jobseekers in competitive industries.Although the traditional year out enjoyed by academics is unheard of for most private companies, a more affordable period of four weeks’ paid sabbatical leave is considered fair, rising to six weeks or more after 10 years’ continuous service.Forward planning is essential to allow managers to reassign the leaver’s workload across the team or advertise for temporary help. This may require the employee to give at least six months’ notice but could well be longer depending on the seniority of the role.During the leave, the employee may receive full or partial pay, or no pay at all, depending on the company’s sabbatical policy. Some employers may formally request that no other paid work is undertaken during the absence.As an alternative or an addition to sabbatical leave, companies might choose to grant additional paid annual leave for loyal staff – perhaps five extra days after five years.What are the benefits of sabbatical leave?Time out can be an incredibly rewarding experience, and one with lasting benefits for both employer and employee. With the freedom that comes with the extra time off, sabbaticals are ideal for personal development, whether it’s a self-care plan, a period of study, travel or volunteering – the freedom from the 9-5 is ideally meant for discovery as well as relaxation.Employee benefitsBy using the time productively, employees could end up adding value to their role. Here’s a few ideas for how to spend the time:Rest and recharge: A break from the daily grind gives an opportunity to step away from your work-life responsibilities and find out what inspires you.Learning new skills: A sabbatical allows for plenty of free time that can be devoted towards learning new skills or honing existing ones. Whether it’s mastering a language or developing coding know-how, these experiences will enhance your career prospects and help you stand out from the crowd.Greater appreciation: Time out provides an opportunity to reflect on things taken for granted over time, such as our job, relationships, or health.Improved health: A sabbatical gives us the chance to focus on our physical and mental wellbeing by engaging in activities like yoga or meditation. This helps boost productivity levels upon returning to work along with improving overall quality of life.Explore new interests: During a sabbatical, you could take up a hobby you may not have had time for while working. This can be a great way to develop new skills and can even lead to a new career path.Personal development: Focusing on growth through travel, education, or other goals can bring new perspectives to your work when you return.Enhanced creativity and productivity: Stepping away from work can provide a new perspective and channel your interests into projects that could be useful back in the workplace.Eliminate burnout: Many people quit their jobs when they feel exhausted and demotivated through overwork and stress. Time away is a wellbeing solution that means you can retain your job while regaining your mojo.Employer benefitsSabbaticals can also provide significant benefits for employers in terms of employee retention and attraction:Retain top talent: Offering sabbaticals can be a powerful tool for retaining workers. Employees who feel valued and supported by their employer are more likely to stay with the company long-term.Improved productivity: Sabbaticals can lead to improved productivity in the long run, with employees returning to work with renewed energy and focus,Cost savings: If an employee takes a sabbatical instead of leaving the company altogether, it can save the employer money in the long run through recruitment and training costs.Enhanced creativity: Employees can explore new interests and ideas, introducing them in their work.Improved employer branding: Companies that prioritise work-life balance and employee wellbeing are more likely to be viewed as desirable places to work.Returning to workThe hope is that employees return to the workplace refreshed. The break may have brought clarity to their working routine, new skills that could benefit their role, and fresh ideas. The early weeks settling back in are a great time for sharing these ideas and considering how the job may be shaped by the sabbatical experience.For the employee, a little preparation before the end of their leave can ease any anxiety about the return: catch up on company and industry news, check-in with colleagues, and ask for team updates so it’s not a complete surprise on the first day back.Work may also seem a little overwhelming at first, with things unlikely to be the same as when the returner left. There might be different tech to get to grips with, new team members and schedules in place. Managers should keep checking in to ensure the returner is coping and not overloaded through this transitional period. Some workplaces provide a structured ‘return to work’ plan to help employees and managers meet their goals.To encourage and inspire new and existing staff, sabbaticals should be shouted about in job adverts, social media and company websites. The prospect of a break or memory of one may lead to workplace happiness and contentment.Looking for talented professionals to join your team or seeking a new opportunity? Contact one of our specialist recruitment consultants today.
The 15-minute city: the future of the workplace
What is a 15-minute city?The 15-minute city framework was masterminded by French-Colombian urban planner, Carlos Moreno, whose idea means that anything you need to live an urban life is a 15-minute walk or bike ride away, eliminating the reliance on cars or public transport.It is a revolutionary, environmentally friendly, and inclusive way to rethink the planning of a city or town, giving each neighbourhood access to work, school, healthcare, retail, hospitality and leisure facilities, green spaces, museums and more, on their doorstep.Following multiple lockdowns, there has been a growing sense of appreciation for locality in the world, with people spending more time walking around their neighbourhoods and preferring to work from home or make shorter commutes. And during the cost-of-living crisis, people have been more conscious about the ever-increasing prices of fuel and public transport.With more people working remotely, at least a few days a week, there is room for the addition of more localised, essential services and amenities, that would otherwise be concentrated in a central location. This would give those living on the outskirts access to these essentials and to a greater number of opportunities.What impact could 15-minute cities have on businesses?A recent research by the International Workplace Group (IWG) discovered that 83% of workers around the world would turn down a job that didn’t offer flexible working. This indicates people are less willing to commute and prefer shorter journeys to work. As a result, having an office space just 15 minutes’ walk or bike ride away would be much preferred by professionals.Shorter commutes often lead to improved job satisfaction, work-life balance and wellbeing, with much less time spent on stressful travel. When provided with the flexibility to work remotely or from a local office, rather than commuting to a head office in a city-centre location, workers will be more tempted to stay with the business, or actively seek work there.People are now much more aware of the social value of the companies they work for, and their own carbon footprints, and will take into account the length, expense and environmental impact of a longer commute when considering moving roles.The introduction of ‘15-minute cities’ could see the expansion of businesses into less-expensive local areas, reducing overhead costs and extending access to the national talent pool. Professionals across the country will have more opportunities closer to home, without the need to move centrally or commute. Then, the local talent pool will become richer, and businesses won’t have to cast such a wide net to search for their next employee.How close is the reality of ‘15-minute cities’ in Switzerland?Switzerland is making remarkable strides in realizing the vision of 15-minute cities. The country's urban planning and development approach aligns closely with the principles of compact and accessible neighbourhoods. Cities like Zurich and Geneva exemplify this progress, with their well-connected public transportation systems, extensive networks of pedestrian and cycling paths, and mixed-use zoning strategies. These cities have invested in creating vibrant urban centres that combine residential, commercial, and recreational spaces, fostering a sense of community and reducing the need for long commutes. Overall, the concept of a ‘15-minute city’ could revolutionise the way we live, work, and hire, by reducing commute times, making it easier to access talent and opportunities, and to work hybridly. As a result, it could also improve job satisfaction, wellbeing and the general quality of life for you and your employees.If you’re looking for your next local hire or job opportunity, contact your nearest Reed office.
How to ace your video interview
Use the following video interviewing tips to help you secure your next role.There are two types of video interviewLive interviews are what you would expect – a video call with the interviewer which is very similar to a face-to-face interview, but slightly different. Some may feel more relaxed knowing that they are speaking face-to-face with a person, even if it’s only through a screen.Pre-recorded interviews provide you with questions you must answer by recording yourself. These interviews are usually recorded with specialist software, such as Shine, and you will have a certain number of attempts to answer each question.Check your techTest your microphone, camera and internet connection before you start, and make sure your device is compatible with the software your interviewer is using. Making a test call will give you piece of mind that everything is set up correctly.In case of any unexpected audio issues, or your connection drops, ensure you have the interviewer’s contact number so that you can continue your interview over the phone. Don’t forget to fully charge your device or have it plugged in to avoid any potential disruption from a low battery.Just as you would in a face-to-face interview, you must also check that your phone is on silent and any notifications are off.FramingTo frame yourself well, position yourself in the centre of the screen, with the camera at eye-level, an arm’s length away. If you give the illusion of eye-contact by looking at the camera, you will seem more engaging to the interviewer. The interviewer will have a better impression of you, and will be more engaged in your answers.It is most important to choose a location where you won’t be disturbed and are least likely to pick up noise from your surroundings. Choose a space which is not too dark or too bright and remove anything from behind you that you wouldn’t want your employer to see, such as dirty clothes.Body language and appearanceBe as professional as possible, both in how you dress and in your body language – remember that this is your potential employer. Even if the interviewer can’t see all of you, dressing well will put you in the right mindset for a job interview and you will make a much better impression.Other than your facial expression and hand gestures, your non-verbal communication is limited, so it will be more difficult for the interviewer to pick up positive body language. Ensure you don’t fidget too much, avoid covering your mouth, and make sure to smile.Our YouTube channel has a fantastic series of interviewing advice videos detailing the dos and don’ts for candidates.If you’re looking for a new career opportunity, contact your local office via email or over the phone.
A four-day work week: the pros and cons
The past 16 months have given organisations time to consider how they operate, including the number of hours and days they require employees to work.It is no secret that the coronavirus pandemic has transformed the way we work in the UK, with many businesses having to abandon the office to work from home almost overnight. As well as this, over the last year we have seen the introduction of the Coronavirus Job Retention Scheme and the challenge of juggling home schooling, leaving many employers no choice but to allow for flexible working arrangements.With this sudden shift to working from home and an increase in hybrid working, we have seen more and more conversations around work-life balance and businesses questioning their ‘typical working week’.The five-day work week has become a cultural norm, especially in the UK, but after more than a year of change, is it time to rethink this approach and, if we do, would businesses continue to succeed? Or would productivity take a hit?We asked our LinkedIn followers: “Would you consider changing your company’s working hours to a four-day working week?”. With 919 votes, 50% said yes, but with the same hours, 33% said yes but with reduced hours, 12% said no, and 6% said they would consider it, but not at this time.With 83% of those surveyed in favour of a four-day week, there are many considerations companies must make when deciding if this is a course of action they would be willing to take.What is the case for a four-day work week?A four-day work week can be defined in two ways; the first is when an employee compresses their full-time hours (typically 35 hours) over a four-day period. And the second is reducing an employee’s hours (typically to 28 hours) over four days, so they are then able to have a three-day weekend.Many argue that, while the five-day work week used to be effective in the 19th century, it no longer suits the needs of the modern-day professional.With the evolution of technology, some day-to-day tasks are significantly more time-efficient, and with an uplift in office-based roles, we are seeing an argument that longer work hours do not necessarily mean staff are more productive.Notably, over the last couple of years, many countries across the globe including Japan, New Zealand, Spain - and most recently Iceland - have trialled the four-day work week to research the effect it has on its employees.Microsoft trialled four-day weeks in its Japanese offices and found the shortened work week led to more efficient meetings, happier workers and boosted productivity by a staggering 40%. Similarly, Iceland undertook a trial which monitored employees working reduced hours over a variety of public sector workplaces and found it to be an overall success, with 86% of the country's workforce now on a shorter work week for the same pay.In an article for the BBC, Will Stronge, Director of Research at four-day week consultancy Autonomy, said: “It shows that the public sector is ripe for being a pioneer of shorter working weeks - and lessons can be learned for other governments.”In the UK, many businesses have also trialled the four-day work week, and some have even made the permanent switch. Gloucestershire-based PR agency Radioactive Public Relations trialled a four-day week for six months and found the business was even more profitable and employees’ sickness days were halved.What are the advantages of a four-day working week?Large and small-sized companies trialling the concept have created an evidence-base of the benefits a four-day working week could bring to your organisation.An increase in productivity levelsResearch has shown that working fewer hours boosts productivity levels. With employees spending less time at work, they can feel happier and more fulfilled, leading to them focusing on their job when in the workplace.A large New Zealand business, Perpetual Guardian, trialled a four-day work week and found not only a 20% rise in productivity, but work-life balance scores increased from 54% to 78%.Environmental and cost-saving benefitsShortening your working week means that employees do not need to commute as much, reducing their carbon footprint.As we have seen throughout the pandemic, those businesses with employees working on the same four days can save on overheads and in some cases even be eligible for tax relief.Happier employees and fewer absencesAccording to mental health charity Mind, one in six people report experiencing a common mental health problem in any given week in England, and one in five agreed that they have called in sick to avoid work.Four-day work weeks leave employees more time to focus on personal development or spend time with loved ones. This will not only increase employees’ happiness, but can contribute to fewer burnouts, leaving them to be more focused and happier in their role.Better recruitment and retentionThe increase of hybrid working and remote working during the pandemic has led to employees wanting greater flexibility from their employers.The CIPD reported that the majority of people think flexible working is positive for their quality of life, and 30% of people think it positively affects their mental health. So, offering potential new and existing employees a flexible working pattern is a fantastic way of attracting and retaining talented professionals.What are the disadvantages of a four-day working week?Whilst there are benefits to a four-day work week, there are disadvantages too:"A four-day work week wouldn’t work practically because of the need to cover more shifts during a time where we are already facing staff shortages."Not all industries can participateUnfortunately, the four-day working week model does not suit every sector. Some businesses or professions require a 24/7 presence which would make a shortened work week unpractical and, in some cases, delay work - creating longer lead times.A nurse who wanted to remain anonymous expressed her reservations about a four-day week in the healthcare sector, saying: “As an A&E nurse a four-day working week wouldn’t work practically for us. Currently, we work long 12+ hour shifts in order to have four days off, which I prefer as it provides more of a work-life balance. However, while I know a four-day working week would be better for some of my colleagues due to childcare, the shorter, more regular shifts we would have to do on a four-day week wouldn’t work. It would mean the need to cover more shifts during a time where we are already facing staff shortages.”Unutilised labourA four-day week is not for everyone; some employees prefer the structure of a five-day working week or would prefer to put in more hours than a four-day working week offers.Likewise, some professions have tasks which simply take more time than others, which would lead to paying more in overtime or drafting in further staff to make up the shortfall (as happened in healthcare for the Icelandic study), which can ultimately become expensive.Final thoughts: should your business adopt the four-day work week?Although the shortened work week has taken off in many European countries and been successful for many UK businesses, it is an extreme approach for a company to take and requires a shift in mindset from the employer and employees for it to work effectively, so it may not be for everyone.While a more flexible approach on working hours is now expected from employees, a less disruptive, more gradual process would be adopting a hybrid or flexible working policy instead.Likewise, as mentioned above, the four-day model may not work for all sectors. What studies and data have proven is that organisations who are putting more focus on maintaining staff wellbeing, engagement, morale, and productivity are reaping the benefits.
How to create a great recruitment strategy
Getting your recruitment strategy right is key to hitting your business goals. Here are some expert tips to help you set up your company for success – and the shortcuts to keep you ahead of your competition.What is a recruitment strategy?A recruitment strategy is a clear plan that explains what roles you’ll recruit for, when, why and how. It should be tied to your overall company objectives.Your strategy must be possible to implement and easy to communicate. While you can tweak your tactics, the strategy must always be clear.Unsure how many employees you’ll need? Hiring temporary staff helps you expand quickly and risk free.The core aspects of a great recruitment strategyGrowth PlansIn order to scale up your workforce, you’ll need to hire – which takes time and resources.Create a measure to help you identify which areas of your business will benefit most from increased headcount.This could focus on return on investment or opportunities lost.Shortcut: Unsure how many new employees you’ll need? A recruitment agency will give you access to temporary staff and contractors to help you expand quickly and risk free.Employer BrandMake sure your employer brand and message are attractive to your target audience, particularly over social media. A well-known brand is a big selling point to talented job hunters.Be open and transparent about the company’s working culture to ensure you attract candidates that will match your business.Shortcut: If your brand isn’t well known, a recruitment agency can contact candidates directly and spend time promoting your employer messages.Skills AuditUse your company objectives to identify developing areas of the business, then decide on the skills you will need to succeed.Your recruitment strategy should include ways to find and bring new skills into the company.Employers often focus on advanced digital and technical skills, but you should also consider bringing in candidates with different experiences.Shortcut: When interviewing for a role you’ve never done yourself, your recruitment consultant can offer interview tips and support to build your confidence."You can tweak your tactics, but your end goals must be clear."FlexibilityIf your company needs to adapt quickly to an unpredictable market then hiring permanent staff may not be the right option.Your strategy should include a plan for temporary staff and contractors to cover projects that are likely to change at short notice.Shortcut: Unless you already have an advanced payroll function, it makes sense to ask your recruitment agency to manage payroll for your temporary workforce. They look after tax, holiday pay and even pension contributions – saving you a lot of hassle.When to review your recruitment strategyYou should always be thinking about how you differentiate your company from your competitors, and how you can be a more attractive prospect for potential candidates.Pay close attention to all aspects of the recruitment process, and make tactical tweaks throughout the year when necessary – while holding firm to your recruitment strategy.You should review your overall recruitment strategy annually to make sure it ties in with your wider business objectives. It’s important that everyone in the company understands your goals – so be clear and concise about what success looks like and how you will get there.
Top 10 soft skills you need to work in finance
When searching for a role in finance, it's often not what you know, but what you can offer. Job hunters have long been told to list, and give prominence to, technical skills on their CVs, but finance sector employers are increasingly looking for candidates with interpersonal abilities known as ‘soft skills'. Demonstrating these 10 characteristics will help candidates prove their value in the workplace.10 soft skills to help you prove your value in the workplace.1. CommunicationEarlier this year, analysis by LinkedIn showed that 57.9% of new hires who changed jobs in 2014-15 listed communication as one of their strong suits. Good communicators are in demand across a range of industries, and they're vital in fields that require employees to explain their specialist knowledge to others. An aptitude for number crunching won't get you far in finance if you can't justify and explain your calculations.2. NegotiationWhether you're closing a deal or managing expectations, it's important to know how to fight your corner without ruffling any feathers. An aptitude for negotiation will allow finance professionals to reach an agreement that benefits all parties. Failure to compromise effectively can create frustration and damage interpersonal relationships or, at worst, result in loss of revenue for a business. Having a demonstrable knack for negotiation will put you ahead in any financial enterprise.3. InfluencingFinance professionals must be prepared to explain how their objectives are mutually beneficial and anticipate objections. If, for instance, an investment banker wants to sell off a stake in a joint venture, he or she must be able to show how this will benefit the bank – even if some colleagues disagree.4. Critical thinkingA critical thinker objectively analyses or conceptualises a situation from a balanced perspective. Often, customers and clients will look to financial professionals to rationally evaluate a scenario – be it a ledger or the performance of a stock. In fast-paced business environments, a poorly thought-out decision can cost a company time and money. So the ability to make critically-informed choices is crucial for modern finance professionals.5. FlexibilityFlexible employees are capable of weathering change and staying productive in high-pressure situations. Good stockbrokers provide the most dramatic example of this: their day-to-day work revolves around coping with constant fluctuation and determining the best course of action. However, cultivating a flexible mindset also means being able to see through the eyes of others and understand their motivations. A flexible finance professional will always ask: "Why might someone think this way?"6. ResilienceResilience refers to one's ability to bounce back after facing adversity. While this is an important skill in any workplace, it's especially important in high-pressure situations. Being able to cope with changing circumstances, having confidence in your ability to deliver and thinking carefully about what you're trying to achieve can prove valuable – particularly in financial roles.7. CollaborationIt's no secret that top-level financiers are on the lookout for team players. A recent survey by Adaptive Insights showed that 70% of chief financial officers considered collaboration to be their top priority for 2016. In the financial sector, it has become increasingly common to work across multiple teams and geographies to achieve a shared goal. Someone who approaches group-working scenarios with an open mind and a willingness to listen will benefit any team.8. Problem solvingEffective problem solvers identify the issue at hand, weigh up their options quickly and make a firm decision about the best course of action. Those who excel at problem solving can really drive an organisation forward and will earn the respect of their colleagues by offering meaningful input in even the toughest situations.9. DedicationDedication is fierce commitment without the expectation of returns. Rather than becoming overwhelmed by a single task, dedicated workers will devote themselves from start to finish. Discipline, hard work and acceptance of delayed gratification are key ingredients in developing the dedication mindset.10. EmpathyIt's a common misconception that roles focused on data and numbers require a detached approach – empathy should never be undervalued in finance. Clients often seek financial advice during stressful life events, and dealing with someone who has suffered a loss requires a different approach from a couple seeking their first mortgage.An empathetic person shows that he or she cares. In displaying understanding, finance professionals will also build trust in their relationships with co-workers and clients.It's not enough to simply tell an employer you have the soft skills they're looking for. Instead, strive to demonstrate your skillset by offering up examples from previous job roles and highlighting talents you've developed outside of the workplace. Remember, employers are always seeking the right personality for the job – not just a list of positions and qualifications.How to identify your own skills:Reflect on your reactions to tense situations at work and compare them to those of managers and co-workers you admire.Prepare answers to interview questions that screen for soft skills, such as those about workplace experience in problem solving and collaboration.Ask current or past colleagues to evaluate your strengths and weaknesses. They may be able to offer insights you hadn't previously considered.Consider your strengths in relation to the job you want to apply for so you can be confident about the criteria you already fulfil and areas that you can develop on the job.How to acquire new skills:Make a conscious effort to improve your soft skills every day – remember, they're attributes to develop, not innate qualities.Take up skill-building hobbies in your leisure time. Something as simple as a cooking class might prepare you to prioritise tasks and work under pressure.Ask for help and feedback from colleagues and senior staff in your workplace.Enrol in a course designed to build soft skills, such as those offered by Reed.