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Victor Rakovski
Country Manager Reed Bulgaria
During the last 15 years involved entirely in the area of recruitment/head-hunting operations, dealing with companies in FMCG, pharmaceutical, engineering, sales, logistics, and IT sector. Starting his career path at Reed as Recruitment Consultant, Victor has progressed through to a Key Clients Manager, Recruitment Manager, and Head of Bulgarian operations.
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6 mins read
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.
3 mins read
How to prepare for an interview presentation
Particularly for executive level positions, a presentation stage can be an integral part of the short-listing process.Many employers opt for a presentation interview as it gives a better overview of your general aptitude when compared to (or combined with) a traditional question and answer interview. The presentation is your opportunity to showcase your knowledge, experience and communication skills as well as your general organisation and diligence.Here are our tips on how you can ensure you deliver the best interview presentation possible.Preparing your presentation for an interviewKeep each slide short and significant, aiming for no more than 10 slides. This ensures the information you deliver is memorable and will help you to stand out from other intervieweesUse a range of formats to help illustrate your points. Include graphs, statistics, diagrams, video clips, and images to help break up large volumes of text and maintain the attention of the interviewersInclude quotes from industry leaders and/or research pieces. This helps give your points authority and demonstrate your commercial awarenessIncorporate company colours or fonts in the design of your presentation. This will show you’ve done your research and highlight your brand awarenessCheck spelling and grammar thoroughly – small mistakes can really undermine the content of your presentationPresenting tipsPresent confidently and enthusiastically. Remember to speak clearly, make eye contact and use open body languagePractice, practice, practice. Ensure you are well rehearsed so that you are familiar with the structure and are able to deliver your presentation smoothlyArrive early to give yourself time to set up the presentation and settle any nervesGet comfortable with PowerPoint and presentation equipment. Make sure you know how to work the projector, visual screens or remote control before you begin to avoid any awkward stumbles or pausesHave access to multiple sources of your presentation. Email the file to yourself and the recruiter, bring a copy on a USB stick and bring printed handouts. This way you are covered if anything goes wrong with the file you’re intending to useStay within the allocated time. If you have not been given a guidance on length, aim for the 10 minute mark. Time your presentation when you are practising to make sure it will fit within your allowed time slot. If you need to reduce the content of your presentation, cut out the least relevant or weakest pointsBe prepared to adapt. You may have practiced your presentation in a certain way, but the interviewer might not respond accordingly. Be prepared to be stopped for questions or further discussion unexpectedly10 minute interview presentation templateBelow is an example for the structure of your interview presentation. Use this as a baseline and adapt or reorder where appropriate based on the task you have been set by the interviewer.Slide 1:Introduction – Reiterate the objectives you have been set and lay out the structure of your presentation so that the interviewers know what to expectSlide 2:About you – Detail your professional experience, skills and working styleSlide 3:Company history – Give a brief summary of the company history, any milestones or awardsSlides 4-7:Answering the brief – Give your responses to questions you’ve been asked to answer, the benefits and limitations of your suggestionsSlide 8:Question and answers – Include a slide titled ‘questions and answers’ as a cue to pause for interactionSlide 9:Conclusion – Sum up the key points you have made, reach a decision and explain your reasoningSlide 10:Personal achievements – End the interview on a high with a brief slide on achievements that show you will succeed in the roleTaking these steps should help you to succeed in your presentation interview.
2 mins read
Five things you need to know about pre-employment credit checks
It’s becoming more common for employers to perform credit checks on candidates. The number of workers being rejected for jobs because of bad debt is on the rise, and has become the most common reason potential employees fail their vetting test. To understand the what and the why, we ask Director of Reed Screening, Keith Rosser, five key questions about pre-employment credit checks.1. What is a pre-employment credit check?“There are a range of checks you can carry out on a candidate, and these inform an important part of the recruitment process. They help employers to understand the financial situation of a candidate – to help them reduce the risk of employee fraud – as well as helping to comply with law.”2. Why should employers perform credit checks?“Many employers would argue that assessing a candidate’s financial situation reduces the risk of fraud being committed. There’s a school of thought that the ‘bad debtor’ classification indicates the person may commit fraud in future. This is challenging as there are many cases where people with no debt go on to commit fraud. While predominately used in the financial sector, an increasing number of employers in other industries are performing pre-employment credit checks, such as healthcare and engineering.”"The number of people rejected for jobs because of bad debt has grown 7% since 2016."3. What is looked at when performing a credit check? “A typical pre-employment credit check will check public and private databases for a candidate’s Court Judgements, bankruptcies, voluntary arrangements, decrees and administration orders, as well as the candidate’s electoral roll registration to confirm their current address. However, it should also be taken into consideration that debt levels across the UK have risen because of economic factors largely out of the candidate’s control.”4. What can a candidate do to aid their credit screening when they apply for a job? “Candidates can check their credit reports easily online, but for many, it won’t have crossed their mind that an employer might check. Make them aware of the fact and tactfully advise that they should be keeping an eye on their financial health with simple things like making sure they’re meeting monthly payments in a timely fashion. As there is no standardised approach to pre-employment credit checks, requirements can change between companies – which is why we are lobbying for a universal approach.”"Candidates can easily check their credit with free reports readily available online."5. What services do Reed provide? “Reed is one of the largest pre-employment screening businesses. As part of a commitment to reducing risks and with our roots firmly in recruitment, Reed uses market knowledge and expertise to recommend a background screening package that best suits the needs of your business.”Get in touch today to find out how our additional services can benefit your recruitment strategy.