Despite the global economic downturn, growth opportunities for
technology companies in Europe remain very strong. The continent is benefiting
from increased experience and improved skills among its entrepreneurs and
investors and an increasingly strong VC climate.

Investment in European technology companies gathers pace as data for 2010
reveals an impressive 1,068 VC investments in Europe’s tech stars, amounting to
more than €4.7 billion.

No less than a quarter of all investments were raised by Internet companies, a
percentage not recorded since the burst of the bubble in late 2000. Biotech
(19.5%) and software (17.7%) were ranked second and third in the sector

In the software sector we recorded no less than 221 software investments, well
above the activity in 2009 (201 deals) and 2008 (200 deals). UK software
companies raised most deals (54 deals) with France hot on the heels (52 deals).
Germany (40 deals) came in third place.

Business applications (73 deals) were most popular of the 23 software sectors
that secured funding last year. Second place was for wireless applications (33
deals), followed by network management (17 deals) and knowledge management (14
deals).

As a headhunter I have provided search and selection services into this high
growth market space for a number of years and I am pleased that the market is
buoyant, funding is being achieved and companies are moving forward with innovation,
confidence and pace.

I am also pleased that due diligence during the talent acquisition process is
far more streamlined, more focused and more rigorous that I have experienced it
before. A good thing when you consider that talent is as key as the other
critical factors in ensuring an investment works.

Alongside finance, location, technology and partnership relationships, talent
is top of the list in terms of organisational need and I have created the
LeadingIn series of events to raise awareness and to support this push by
bringing together leaders who are prepared to share their experience and
knowledge. Our events are highly collaborative and explore the fundamentals of
building a successful technology business in Europe underpinned by key leadership
talent.

You may not be aware that despite the doom and gloom portrayed in the
national media, a number of companies and sectors are performing well.
Recruitment industry statistics report that the number of new recruitment
vacancies being advertised are back at pre 2009 business levels.

For most companies staff costs are their largest investment, but recruiting effectively
rarely gets the level of attention it deserves. Consider the following:

1. Good candidates are hard to find even in a client driven market

2. The candidate is interviewing you too

3. Present the opportunity not the job

4. Measure your “time” cost of recruitment

Lets explore each of these briefly. Good candidates are hard to find even in a
client driven market. Finding people with the right skills and culture fit for
your business is difficult. The best candidates wish to see a well written advert,
providing clarity around the position and skills required. A professionally
written (and internet optimised) advert will attract 5 times more applicants.
The advert should be visible on multiple relevant media sites to ensure you
attract the maximum number of relevant applicants.

The candidate is interviewing you too! Most clients forget that an interview is
a two way process. First impressions count, so get the simple things right to
attract the best candidates.

Present the opportunity not the job. Job seekers choose their next position
based on salary, location and job opportunity. Salary and location may be fixed
but every company is unique. Motivate the applicant by explaining your culture
and vision, which will be unique to your business.

Measure your “time” cost of recruitment. Time invested in the interview process
is often measured at an opportunity cost of £500/day. For SME businesses, you
may wish to consider some specialist recruitment help. 90% of job seekers
(regardless of sector or function) now use the internet to search for their
next position, and companies such as MaxAd www.maxad.co.uk partner with clients
and provide a managed service to ensure you reach these online job seekers. 98%
success rates and savings of 60%-90% over traditional recruitment agency
charges, mean they are well worth

Across the UK, a large number of organisations are
facing their financial year end. For many, it won’t have been a great year by
any stretch of the imagination. The economy has been stuttering into recovery,
with some encouraging signs, but overall there’s no denying it’s been tough.
End of year results will point to a challenging time across most sectors. But
there is considerable optimism for the new financial year, with the opportunity
to capitalise on some of the positive signs from the market. Several senior
leaders I’ve spoken to recently have been talking enthusiastically about
starting afresh in the new financial year, with the prevailing feeling that
‘the worst is over. ‘

From our point of view, the three months since Christmas have been
overwhelmingly positive. We are still operating in a ‘candidate rich’ market,
with a large amount of applications to each senior interim role, but there are
more roles to go around in 2011. Even across the Public Sector and Healthcare,
there are very encouraging signs, and on the Private Sector side Financial
Services, Retail and TMT are all beginning to bring interims on board to fuel
growth and drive change. Looking at where the market was 12 months ago, I think
there is great potential for the next 12 months – as the market strengthens,
interims provide an obvious and cost-effective way to resource key initiatives,
providing the flexibility organisations are looking for.

Demand for accounting & finance professionals has
continued to increase in the early part of 2011. There has been a marked
improvement in the number of permanent opportunities available across all
sectors. This reflects organisations’ growing confidence in the market.
Companies that had put expansion plans on hold are now steaming ahead with
their post-recession growth plans.

The accounting & finance pro with good analytical skills and commercial understanding of the
market continues to be top priority as expectation for accountants to deliver
much more than technical skills becomes the norm. Specialist roles include regulation compliance, financial reporting, credit risk and operational risk.

In response to year end requirements, employers are
recruiting into financial control, compliance and forecasting roles.

The banking & financial services, leisure and retail sectors
currently have the largest demand for accounting and finance staff.

On-shoring, shared services and a focus on regulation
and compliance is creating opportunities for accountants with regulatory
experience or those willing to relocate.

Within public sector, interims are required for short
term cover due to the imposed reduction of permanent employees. Transactional
level roles such as accounts assistant and payroll staff are also in demand to
ensure continuity.

Gone are the days when the traditional accountant was
viewed as a mere number cruncher analysing the balance sheet and making profit
and loss reports.

Organisations now want their finance people to have
the ability to think and speak in business terms. That translates into three
key attributes: the ability to understand thoroughly the business area they’re
involved in and the overall business context; to be a skilled and active
communicator; and to challenge ideas and norms.

For this to happen, the finance function has to move
from the back-office oasis it once was, to a more strategic function driving
key decisions that affect the future of the company.

Evidence continues to show that finance professionals
are becoming ever-more important to their CEOs and managing directors. With a
strong commercial understanding of the market-places in which their company
operates and the ability to strategise at the highest levels of their
organisations, finance professionals with the right skill sets can wield more
influence in organisations as a result.

Strong analytical and predictive skills, ability to identify
and prevent things from going wrong before they do are what hiring managers are
looking for in candidates as these clearly add value to the bottom-line.

The importance of the finance role is highlighted in
the fact that the CFO is often recognised as the natural number two to the CEO
given the sphere of influence that finance has over businesses.

What kind of skill-set is required in finance today,
especially for managers aspiring to be CFOs? Evidence suggests the choice is a
matter of preference (e.g. through career planning)
and partly of aptitude (e.g. ambition, enthusiasm etc). Finance professionals
can pursue a technical route or opt for a business facing, commercial role.
However, in today’s business environment, those who demonstrate commercial
awareness and who understand their business and the industry, rather than just
their own role are the ones who tend to be preferred for senior management
positions.