The most recent articles from Accountancy Age

Training and development: perfect CV

Rick Bacon — 2008-09-18T17:25:00.000Z

Rick Bacon, Accountancy Age, Thursday 18 September 2008 at 17:25:00

As the economy flounders and the job market tightens, candidates should ensure their CV highlights career achievements if they want to avoid it ending up in the bin

For many years, job candidates in the accountancy sector have been in a strong position. With the advantages of a buoyant economy, a fluid recruitment market and an industry-wide skills shortage, job seekers could move between jobs relatively easily. But as the economic slowdown continues, the tables are turning.

Increasingly, companies are reducing staff intake or freezing recruitment programmes and even beginning redundancy initiatives. In fact, demand for staff last month fell at the fastest rate for almost seven years, according to the Recruitment and Employment Confederation and KPMG. In short, there are more people competing for fewer positions.

This doesn’t necessarily mean it’s all doom and gloom there will always be demand for strong candidates but it does mean that now’s the time to think seriously about refreshing or updating your CV and ensuring that it really makes you stand out from the crowd.

When compiling a CV it’s worth considering the results of ‘Underselling in CVs’, a recent report based on interviews with 1,000 jobseekers and 200 employers, that contrasted what employers look for in a candidate CV with what jobseekers think they want.

One of the report’s key recommendations was for candidates to ensure they focus on communicating their personal achievements on their CVs. This doesn’t mean your qualifications, the places you’ve worked, or the responsibilities your position gave you. Achievements in the context of a CV mean the specific things that you actually did and the impact they had on the business. For example, how you turned around the profitability of a key customer, how you transformed a critical financial process or how you mentored a junior member of staff to improve their productivity.

It may sound like common sense to include these on a CV, but the report found that many people omit them. Almost three quarters (73%) of employers surveyed said they had rejected candidates for interview after finding a lack of speci fic achievements on their CVs. It also showed that when candidates get their achievements right on their CV, they can increase their ‘valuation’ in terms of the salary they can demand. Nearly a quarter of employers surveyed said applicants could demand an increase of 15% if they showed evidence of relevant achievements - representing an increase of £6,000 on the average British accountant salary of £40,000.

Achievement amnesia

The research also revealed possible reasons for the omission of achievements it suggested that candidates are not necessarily lacking in things to include but, instead, are unable to recall them when it matters a symptom it dubbed ‘achievement amnesia’.

CVs are usually written in a rush, with 71% of people taking two hours or less to write it and 79% of applicants saying they only write CVs when actually looking for a position. As a result, a third said they weren’t confident they could recall useful achievements more than six months old and nearly another third (28%) couldn’t recall those more than 18 months old.

To avoid falling victim of ‘achievement amnesia’, candidates should begin keeping an ongoing record of achievements during the periods when they are not actively seeking work. This will ensure they avoid underselling themselves when they begin interviewing.

There are now tools available online that allow you to manage your career details more effectively. For example, you can use them to record and structure your achievements as they happen so that your CV grows with you.

Online CVs can also help ensure your information is presented in a format preferred by recruiters and some even allow you to track in one place whom you have shared your career details with, whether they have looked at it and get feedback directly from them.

The economic slowdown is showing no immediate signs of abating and finding a job is likely to become more difficult. Employers will start to have the upper hand but candidates can still make sure they’re on the front foot by effectively selling their skills and experiences. They will then have the best possible opportunity to be matched to the right position at the value they are worth.

Creating the perfect CV

In today’s employment market, you need a good CV to put you in the best possible position from the start. Our research highlighted that there is often a vast difference between what employers are actually looking for and the information jobseekers include on their CVs. So what should you consider when writing your CV and what are the most common pitfalls jobseekers encounter?

Develop a strong CV that showcases your experience, abilities, and skills. Structure your CV so that your skills and achievements stand out, this is what employers are looking for, not a generic list of responsibilities
Don’t waste time decorating your CV. Recruiters extract the relevant information and put it into their own preferred format so look for an online tool that puts your CV into the correct layout so information isn’t lost.

Make it accurate, exaggerating your experience or even lying will come back to bite you

Keep your information up-to date and current during the periods when you’re not actively seeking work. This will help you avoid ‘achievement amnesia’ and stop you underselling yourself in an interview
Make use of the new online tools that provide a template for the modern CVs. Some allow you to update them as often as you like and recruiters can immediately see the new version without you having to resend it

Rick Bacon is CEO of iProfile. Underselling in CVs, published by iProfile.org, is available to download from iprofile.org/Career-A dvice

Training and development: master your destiny

Denise Egan — 2008-09-18T17:20:00.000Z

Denise Egan, Accountancy Age, Thursday 18 September 2008 at 17:20:00

Why do so many accountants choose a masters degree in an economic downturn?

The media spotlight is fixed firmly on job cuts in the UK financial services industry. A week does not pass without another financial institution announcing job cuts or recruitment freezes. Many accountants will simply weather this storm and sit tight, but some are adopting a different strategy to overcome the current economic climate. Many accountants are choosing masters degrees to up-skill and ensure that they stand out in their current job or wider market place, and training themselves out of a recession.

There is an established link between economic downturns and people looking to increase their skills levels. But why would accountants, who are already highly-skilled, choose to do this? Masters degrees traditionally have been a choice for those interested in academic careers – but with the current economic turmoil has come a reassessment of the importance of having additional qualifications on a CV. The result is that more practicing accountants are now looking beyond their existing professional qualifications.

Why a Masters?

Before answering the why, it is first important to deal with the why not. The biggest single obstacle is time. Accountants in practice need to think carefully about whether they can spend the time to make the most of their studying. The solution is often distance and part-time learning, but students should not underestimate the time commitment required by a masters.

Cost is another factor. If a candidate wants to impress with their CV they need to ensure their masters is from a reputable business school. The costs will be significant, however, and must be weighed against the benefits of investing in their professional development.

This will be a significant decision at a time of economic uncertainty, particularly if you are not currently employed. Indeed, if you have a forced period of time out of the workforce is a masters the best use of this time?

Lastly, an individual needs to think how affected they are by the credit crunch. Perhaps their area is not vulnerable to job cuts and so a masters degree will be of less immediate value.

So a masters degree is not the right choice for everyone. However, for accountants, who already have a very high level of professional training and expertise, undertaking such a qualification can give a seasoned practitioner the opportunity to take stock of what they have learnt through their career to date and work on any skill gaps.

Today accountants need to have much more than just technical knowledge. An understanding of related business areas such as finance, supply chain management, economics and marketing is also necessary. Alongside such knowledge, accountants need to possess the right mix of ‘soft skills’.

Not only will advanced skills such as communication, team work, leadership, problem solving, professional ethics, project management and other key skills help an accountant be more effective and therefore valuable in their current role, it will also help them stand out at an interview for future positions. A masters degree will assist in developing these skills.

There is a broad range of masters to which accountants are attracted. First and foremost there is accountancy itself, often where accountants in practice choose to specialise in an area, such as tax or financial reporting. More general accounting masters degrees aimed at experienced accountants, such as masters in accounting and finance, tend to be popular with those working within financial institutions and give an advanced understanding of accountancy and finance processes, reporting and research as well as management techniques.

Those with this combination of high level technical knowledge as well as understanding of key management areas such as international business and strategic management are able to contribute more fully to their organisation.

Then, of course, there is the MBA, typically where accountants are looking to move to board level or stand out in a competitive market.

Lastly, accountants may undertake masters which focus on specific areas of management that are relevant to their individual circumstances, such as international business, human resource management or technology.

Regardless of the masters that accountants choose, the ultimate aim is the same. Completing a masters enables a practicing accountant to become more valuable to their organisation and gives them additional options to move into other areas of the business either internally or with another employer. All very useful characteristics in difficult economic times.

The master plan

If you think that a masters degree may be your best next move what are the next steps?

SWOT yourself. Analyse your strengths, weakness, opportunities and threats. Look at your work related strengths – what do you do well, what are your unique selling points? What skills or knowledge areas do you need to further develop? Where could you go from here? What are your options for your next move or your next learning opportunity? How could the credit crunch and the tightening labour market affect you and your position? How does your CV compare with those of your peers?
If a masters is right for you then invest time in researching business schools.
Review the teaching quality and the backgrounds of the lecturing staff
Look at the links the school has with employers and the opportunities for professional networking – both with other students and visitors (e.g. guest lecturers and employers).
Make sure you can study the masters in a way that is practical for you. For instance, can you complete one module full-time on-site and the next part-time through distance learning?
Make sure the masters will give you what you want at the end. If you are completing the masters primarily for professional advancement you need to ensure that when you complete the course you will be able to demonstrate the tangible areas where you have developed, including areas of soft skill development.

Training and development: staying power

Max Williamson — 2008-09-18T17:13:00.000Z

Max Williamson, Accountancy Age, Thursday 18 September 2008 at 17:13:00

Why do practices lose graduates? We look at how they can halt the outflow of talent

Graduates enter accountancy for many reasons. For some, it is a career that they have moved towards since choosing an accountancy related degree, while for others the move into the profession is a haphazard affair, triggered by a lack of any other uses for that degree in Classics.

The popularity of accountancy has increased enormously over the last ten years. The perception of the profession as a route towards a bitter and dissatisfied middle age passed a long time ago, and a whopping 8% of graduate jobs are now within accountancy. The benefits of accountancy are the training it can provide and the well-structured career development, not to mention the good pay levels, which have seen very impressive growth over the last five years. Graduate pay levels for those joining the Big Four are now in the mid-£20ks and a newly qualified accountant at the top of their game in London can expect a salary of £50k.

Furthermore, it is likely that accountancy will see a growth in popularity over the next 12-24 months. While other professions anticipate a decrease in graduate recruitment programmes, the Big Four and many other practice firms are maintaining graduate recruitment at the levels of previous years and there are many graduates who will be looking at accountancy as a safe and sensible option for their first step into professional life.

And yet, in spite of the many advantages of the profession, many accountants choose to spend relatively few years in the job. Most see the qualification as the end of their career in practice rather than the beginning of it and most find themselves leaving their first company within five years.

There are many reasons behind so many taking an early exit, but the flexibility afforded by the qualification certainly plays a role. Aside from the technical knowledge it provides, the qualification process itself requires enormous discipline and a thoroughness of approach that would be hard to match in other jobs. Also, combining study with employment teaches accountants to manage their time in the most effective way possible, all of which are qualities that are extremely attractive to employers. Furthermore, the knowledge acquired lends itself to many finance related roles.

Upon qualification, accountants find that they can explore roles in financial management, general management, commercial finance…and it’s difficult to think of a role within an investment bank that a good accountant could not do.

However, it’s not just the number of options available to accountants that means they leave the profession. The working environment within a practice is demanding and many leave their first firm with the intention of restoring a work-life balance.

It’s certainly not unusual for accountants to put in 60-hour working weeks, particularly during the busiest times of the year. While this may have been fine in one’s 20s, there are some who would prefer to spend more time with their families as their lives change.

Many accountants feel that firms would ensure better rates of retention if more flexibility was provided on this issue. Many feel that refusing to work weekends or put in extra hours for several weeks at a time will have an impact on their career progression and development within the firm.

It is also suggested by several respondents to our recent survey that accountancy loses so many people because it recruits the wrong people in the first place. Upon qualification or even before that time, many arts graduates who joined have discovered that the role is not a long term career choice for them and decide instead to use their experience to benefit their interest in other fields.

If firms are serious about keeping people in the profession for longer then more attention needs to be given to the issue of work-life balance and greater scrutiny needs to be given to those who are entering the profession. Also, the issue of sex discrimination continues to be an issue. Whenever we ask accounta nts and auditors about this subject it’s clear that many women feel that the glass ceiling remains firmly in place and see other career paths offering greater opportunity.

With so few female partners in the Big Four and even fewer within smaller firms, it’s easy to see why many women hold this perception.

Good and bad news

The results of the survey conducted by CareersinAudit.com revealed that although 46% believe the profession was becoming more popular to graduates, it could still do more to communicate the long term career benefits of becoming an accountant. Quality of recruitment also appears to be an issue with 63% of the opinion that the profession could do more to attract better quality graduates. The bad news for employers is that 76% of those working in the profession feel that starting salaries need to be raised in order to attract stronger candidates, with only 23% feeling that companies offer competitive starting salaries.

Most accountants and auditors would recommend their career to a graduate while making it clear that the job was not for everyone. Reasons for moving into the profession were various, but the most popular responses were the structured training programme, ability to learn about business and the chance to work with numbers. If they hadn’t moved into the profession, most would have moved into banking, law or an engineering related role. Only three respondents provided ‘astronaut’ or ‘pilot’ as career alternatives and thankfully, none responded with lion taming.

Most accountants feel that the insight it provides into business is the most exciting part of their job, while ‘people skills’ are seen as the second most important attribute after technical skills. Being commercially astute and having a sense of humour scored badly on the same question (5% and 7% respectively).

It also appears that most see the profession as a stepping stone to another career. Most accountants and auditors see themselves leaving the job within five years (58%) whilst only 11% believe they will still be in the profession within ten years.

Max Williamson is director of Careersinaudit.com

Too few Whitehall staff with financial qualifications

parliamentary correspondent — 2008-09-09T09:57:00.000Z

parliamentary correspondent, Accountancy Age, Tuesday 9 September 2008 at 09:57:00

MPs claim government is failing to ensure its staff are correctly qualified to deal with huge budgets

The government was this week congratulated for appointing more qualified accountants to the boards of Whitehall departments but was also told too few staff managing massive budgets lower down the civil service tree had the adequate financial qualifications.

It also emerged that the current finance director of HM Revenue & Customs does not have an accountancy qualification.

The comments came in a report by Westminster's main financial and efficiency watchdog the House of Commons Public Accounts Committee on Managing Financial Resources to Deliver Better Public Services.

Edward Leigh, chairman of the all-party group, said: 'The sum central government spends each year on public services - over £550bn at present - would suggest that it attaches a great deal of importance to the financial management skills of its staff.

'The evidence indicates that it does not. Since we last reported on this extremely important topic, in 2004, the number of qualified finance directors on the boards of government departments has increased. But this should be set against the general lack of financial skills among non-finance staff.

'You would think that no department would contemplate implementing a policy without first estimating what it is going to cost. But only 20% of departments based policy decisions on a thorough assessment of their financial implications.

'A lot of this is down to the poor quality, timeliness and completeness of the financial information available to departmental boards. The Treasury and Cabinet Office are putting their weight behind initiatives to improve this situation but, at present, government departments are still not giving enough priority to driving towards better standards in financial resource management. This is to the detriment of achieving efficiency and value for money in the provision of services."

Since the Committee's last Report in 2004, the number of qualified finance d irectors with a seat on the departmental board has increased. This has enhanced the focus on financial performance at senior management level, but the lack of financial skills and awareness among non-finance staff remains a barrier to improving financial management more generally across government.

Harvard teams up with CPA Australia

AccountancyAge.com — 2008-08-20T07:39:00.000Z

AccountancyAge.com, Accountancy Age, Wednesday 20 August 2008 at 07:39:00

In a first of its kind, Harvard Business School has agreed on a partnership with CPA Australia

In a first of its kind, Harvard Business School has agreed on a partnership which will enable CPA Australia’s 117,000 members in Australia, Asia and Europe to complete business and leadership programmes online.

The two programmes – High Performance Leadership and Case in Point – have been targeted at emerging middle and senior level managers, using genuine case studies from around the world presenting a range of difficult situations frequently encountered by managers, the Financial Times reports.

‘By completing the programmes our members will be able to relate key leadership concepts to their own businesses,’ Tony Gleeson, CPA Australia general manager of member knowledge, said.

Blended Learning Solutions, Harvard Business School Publishing’s Australian distribution partner will deliver the programmes.

Accountancy training holds up despite economic turmoil

Barbara Buchanan — 2008-08-12T10:18:00.000Z

Barbara Buchanan, Accountancy Age, Tuesday 12 August 2008 at 10:18:00

Training company reveals strong growth amid growing demand for more flexibile accountancy courses

Accountancy training agency BPP Holdings reported a 10% pre-tax profit increase for the first half of 2008 revealing a strong appetite for professional qualifications despite the current downturn.

The company recorded profits of £9.7m compared with £8.8m for the same period last year with professional education revenues up by 14%.

‘I think it comes down to the underlying need for people to increase their level of business skills. It’s a combination of employers encouraging their employees to take further level qualifications and individuals themselves looking to advance their careers,’ said chief executive, Roger Siddle.

He said the company had seen a ‘strong growth’ in demand for taking the ACCA qualification despite the syllabus changing recently.

BPP’s recent review of its business identified a need to develop its accountancy training. In particular the agency is looking at developing its revision and question day courses geared at upping students pass rates for accountancy qualifications.

The training agency is also launching a masters in accountancy in a bid to get a slice of the action for the lucrative £1.2bn postgraduate market.

The company’s earnings per share increased by 15% from 12p to 13.8p with its dividend per share rising by 10% from 6.10p to 6.70p.

Insider Business Club: Solving the Pensions Crisis

Paul Grant — 2008-05-14T12:42:00.000Z

Paul Grant, Accountancy Age, Wednesday 14 May 2008 at 12:42:00

Can trustees and finance directors work together?

The global credit crisis and the advent of fair value accounting have combined to thrust pension matters back into the in-trays of most finance directors. All this, coupled with regulatory change, has put a strain on relations between the trustees of final salary pension schemes and the sponsoring employers of these schemes.

Of course, the interests of pension fund sponsors and trustees have often been at odds. But if pensions risk is to be managed at the corporate level, trustees and finance directors need to find common ground and work together.

So how can their interests be better aligned and be made more transparent? Our experts deal with these and other issues - and answer questions on one of the most pressing financial problems around.

Click here to listen to our experts discuss these issues (broadcast on 14/5/08 and available in our archive).

(Note: registration may be required)

Find a place in the sun with YP

Paul Grant — 2008-05-13T14:26:00.000Z

Paul Grant, Accountancy Age, Tuesday 13 May 2008 at 14:26:00

May issue of Young Professional features a guide to living and working in the Cayman Islands

If the recent spate of sunny weather has given you the taste for more, then Young Professional may provide you with the perfect way to do it.

The May edition of Accountancy Age's digital magazine for upand coming accountants,explores what it's like to work on the tropical Cayman Islands and how it can simultaneously help your career.

We also talk to a young Ernst & Young partner forging a career in the increasingly fashionable area of hedge funds. For those still struggling to get through exams we offer our guide to passing your resits, while one of our apprentices bids us farewell as he sets off for a life in another country outside of accountancy.

To read the latest issue click here:

Further reading:

Read back issues of Young Professional here

Join YP's Facebook group

See YP's latest videos at our YouTube channel

Too many spreadsheets, too many systems

Damian Wild — 2008-04-28T12:13:00.000Z

Damian Wild, Accountancy Age, Monday 28 April 2008 at 12:13:00

A Financial Director web seminar, hosted by editor Andrew Sawers

Many organisations, even stretching up into the higher reaches of the FTSE index, have too many spreadsheets flying around the business, often rendered increasingly incompatible with each other and containing significant errors. Trying to keep control of the business in this sort of environment is a triumph of hope over experience.

Many businesses are also contending with the problem of too many disparate systems that can't quite talk to each other without either a risk of data errors or a lot of manual intervention.

This discussion looks at whether it is feasible to strip out incompatible systems, replacing them with more all-encompassing applications that can marry up the front office to the back office. The goal may be to get an easy-to-access 'single version of the truth' - but not if the cost is prohibitive or if it results in system inflexibility.

To access the event click here

Insider Business Club: Crunch time

Damian Wild — 2008-04-28T11:56:00.000Z

Damian Wild, Accountancy Age, Monday 28 April 2008 at 11:56:00

The role of the finance director in a tough market

It's looking grim out there. Now more than ever the finance director should step up to the plate in delivering leadership and effective financial management across the organisation.

In this session we discussed the role of the finance function in making the organisation more flexible and responsive to changes in the market, in driving efficiency and profitability, and how in protecting and shoring up the balance sheet.

And in doing that, what information does the finance director need, both historical and predictive, to ensure appropriate and focused investment?

Click here to listen to our experts discuss these issues (broadcast on 23/4/07 and available in our archive).

(Note: registration may be required)

Insider Business Club: How to achieve finance transformation

Damian Wild — 2008-02-18T00:00:00.000Z

Damian Wild, Accountancy Age, Monday 18 February 2008 at 00:00:00

How should finance departments work best in global integrated enterprises?

Multinationals are changing with the most successful becoming global integrated enterprises.

For these companies, national borders are increasingly irrelevant and define less and less the boundaries of corporate thinking and practice.

How does finance fit into this new agenda? And how should finance departments transform themselves to deliver within these new structures?

In this session we answer key questions about the future of finance departments:

* How should finance departments in global integrated enterprises separate transaction processes and deliver them in a centralised location?

* How can medium to high end processes be concentrated into centres of excellence?

* How this can enable local finance personnel to fulfil the role of true business partner, focusing on strategy and driving a business forward?

Click here to listen to our experts discuss these issues (broadcast on 20/2/07 and available in our archive afterwards).

(Note: registration may be required)

IFAC guidance on practical experience schemes

AccountancyAge.com — 2008-01-03T00:00:00.000Z

AccountancyAge.com, Accountancy Age, Thursday 3 January 2008 at 00:00:00

IFAC has developed guidance on establishing effective practical experience programmes

The International Accounting Education Standards Board (IAESB), part of the International Federation of Accountants (IFAC), has developed a guidance to assist member organisations and others establish effective practical experience programmes.

The new guidance is part of the International Education Practice Statement (IEPS) 3, ‘Practical Experience Requirements - Initial Professional Development for Professional Accountants’, which has just been released by the Public Interest Oversight Board (PIOB).

‘A period of practical experience is critical to the development of professional accountants, enabling them to cultivate and demonstrate the knowledge and skills that they have acquired during their education programme,’ Henry Saville, IAESB chair, said.

The practice statement indicates how IFAC members and associates may meet the requirement for a period of practical experience for trainees to qualify as professional accountants. It also explains how workplace output can be used to assess competence developed by trainees during that period.

Further reading:

IFAC auditor unit calls for ‘right tone’ at top

IFAC policy urges active role on regulation

Financial Director Web Seminar: The Concept of Corporate Risk

Matthew George — 2007-11-30T00:00:00.000Z

Matthew George, Accountancy Age, Friday 30 November 2007 at 00:00:00

Exclusive, live debate on the concept, perception and evaluation of corporate risk.

‘Risk’ is now one of the most important words in the business lexicon, but it has a wide range of different meanings to different stakeholders.

For those who take ethical shortcuts, it can mean the risk of getting caught: for the board it can mean the internal and external factors that might impede success, while for others it can mean downside events that can be insured or hedged against.

For the entrepreneur, risk is not only the thrill on the way to success, but also relates to the failure of not taking a risk. Risk and probability underpin all our thinking about the future and yet we are consistently bad at making forecasts.

This exclusive, live and interactive debate looks at the concept, perception and evaluation of risk as it affects a wide range of corporate issues, from economic to cultural.

Click here to watch the web broadcast from 26th November 2007.

Insider Business Club: Managing Risks in Global Markets

Matthew George — 2007-11-26T00:00:00.000Z

Matthew George, Accountancy Age, Monday 26 November 2007 at 00:00:00

What is the role of the finance director in managing exposure to risk while continuing to deliver performance?

The majority of enterprises have experienced material risk events in the past three years – with nearly half that number admitting they were under-prepared for its consequences. But for companies of all shapes and sizes, business is more complex and more risky. Globalisation is putting an additional burden on an already full finance agenda, with traditional barriers for global sources and uses of financial, physical, human and social capital disappearing. How should finance directors and their teams respond to this new environment and what is their role in managing exposure to risk while continuing to deliver performance?

Click here to listen to our experts discuss these issues in a live broadcast from 21/11/07.

(Note: registration may be required)

London businesses look overseas to fill skills gap

AccountancyAge.com — 2007-11-16T00:00:00.000Z

AccountancyAge.com, Accountancy Age, Friday 16 November 2007 at 00:00:00

The London Business Survey reveals London businesses are increasingly looking overseas to fill the skills gap

Results from the latest CBI-KPMG London Business Survey shows two out of three companies in the capital, at 65%, expect to be hampered by skills shortages over the next six months. A majority of 58% are already recruiting from overseas.

Almost a third, at 29% of those turning overseas, said they were increasing their recruitment from outside the UK and, contrary to the perception that overseas workers often performed low-skilled jobs, 83% were bringing in candidates with higher, degree-level skills.

John Cridland, CBI deputy director-general, said British graduates were competing in the job market with a ‘topslice of talent’ from overseas universities. ‘To remain attractive to employers UK graduates need better careers advice and stronger employability skills in areas like teamworking and communication,’ he said.

According to Ian Barlow, London KPMG senior partner, it was important businesses in London had access to skilled labour from abroad. ‘There is so much that needs to be done to upskill our own Londoners to enable them to compete for these jobs,’ he said.

Further reading:

Talent management: make your own luck