5 TIPS TO MANAGE POOR PERFORMANCE WITHIN YOUR TEAM

Sharp Consultancy's Salary Survey 2025/26: Resetting the Landscape: Strategic Shifts in Finance Recruitment

It would be remiss not to start by addressing the elephant in the room — 2024 was a challenging year.While there were many reasons for this and numerous industries were affected, recruitment likely bore the brunt of it, particularly in the 6 months post-election(s).Whilst key roles and critical hires remained unaffected, certain head counts and processes were scrutinised and investment paused with internal restructures and automation utilised to reduce costs, in some instances, at the expense of employees. We subsequently saw an increase in candidate activity, with the talent pool strengthening. As those pressures eased in Quarter 4, recruitment processes saw improvement and green shoots have emerged. Optimism is on the rise in key hiring processes, albeit with a caveat. The cloud of additional cost increases in April, which is still dissipating. The senior finance and C-Suite market remains relatively unaffected, both regarding opportunities and candidates, it is the levels below that we have seen more change. In the evolving landscape of working dynamics, the volume of hybrid working is gradually waning despite sustained interest from candidates, presenting fewer job opportunities. While the blend of office and remote work remains desirable, it is no longer the predominant factor, indicating a notable shift in priorities for clients and candidates’ acceptance alike. Conversations with candidates underscore a growing desire around the importance of having a supportive mentor or manager and many professionals are increasingly open to a full-time return to the office if it guarantees enhanced guidance and avenues for professional advancement. "The salaries throughout transactional finance have stabilised across the region."Throughout the professional practice market, some similar trends have been observed but there have been noticeable differences in the past year. Salaries across the range of candidates in professional practice, from AAT to fully Qualified (ACA/ACCA) individuals are still rising and those firm’s able to offer competitive salaries alongside stronger training contracts are beating out the competition in a candidate market with a growing focus on study support packages and career advancement opportunities for Part-Qualified candidates, indicating an increase in demand from employers and the volume of available job seekers. The salaries throughout transactional finance have stabilised across the region, in what feels like the longest period of stability seen since Q4 2020 and we expect transactional finance salaries to remain stable throughout 2025/26, with anticipated salary increments to be moderate compared to the significant increases observed throughout the last 2 years. AI & Systems (process automation) continues to impact accountancy and finance, in particular, across larger functions but this has increased the need for wider interim support to assist with the transition and implementation especially with large, automated processes. Whilst 2025-26 will not be the same marketplace for recruitment as seen in previous years, there is certainly a growing level of optimism and whilst a more settled market may be seen as a negative in some areas, for those that have weathered the peaks and troughs over a longer period of time, it will feel very normal and a strong setting for both employees and employers to take advantage and thrive, with an increasing emphasis on growth and development.Download the full Salary Survey here!

Read article

Whether you are stepping up into your first line management role or are an experienced team leader, managing poor performance within your department can be a tricky skill to master. Addressing underperformance requires an approach which is both tactful yet decisive and gives a clear course of action to resolve any issues.

Here are our top tips and suggestions:

Take swift action

As soon as you have any concerns regarding a staff member or an area of their work, make sure you look to address any issues as quickly as possible. Not only will this hopefully nip any problems in the bud, but it will also give the individual the best possible chance to improve and develop; be sure to approach any conversations tactfully, ask what help and support they feel that they need and offer constructive suggestions and alternative solutions.

Encourage openness

You want to develop an open dialogue with the underperforming staff member so ensure that you are calm and give the person the chance to discuss how they feel they are dealing with a particular area of their work. Consideration should also be given as to why they are underperforming, particularly if they have a strong previous track record. Be mindful of anything which may be going on outside of work which could be having an impact and similarly consider if anything has recently changed within the team dynamic or role responsibilities.

Be prepared

Ensure that you are well prepared for any discussion by gathering specific examples to illustrate your concerns. The employee may or may not be aware that their performance has been below par; make sure that they are aware that the purpose of the discussion is not to discipline but to arrive at possible solutions together and ensure that they have the opportunity to respond to any concerns that you raise.

Review objectives and targets

If poor performance is relating to targets or objectives made during a previous review, consider if anything has changed which might have had an impact on the employee’s ability to achieve these. Has the business changed direction? Has a long-term absence in the team caused workload priorities to shift? Discuss what would be a realistic interim target if the overall objective currently feels too far out of reach to encourage and maintain motivation.

Set a timeframe

Put in place a realistic review programme alongside clear support tools and targets so both you and they can ensure that they remain on track.

Sharp Consultancy specialises in the recruitment of temporary, interim and permanent finance professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT US today to speak to a member of our team about your next career move.