Author: Katherine Wyles

Assistant Financial Controller, London – Position Filled

Posted on by Katherine Wyles

This position has now been filled. Please check our latest job opportunities here

Our client is a hotel operator with hotels situated across the UK and Ireland. They now have an opportunity for an Assistant Financial Controller to join the team in one of their hotels based in London.

This is a great opportunity for someone who would like to become a Financial Controller in the next couple of years. The company is going through a significant expansion, and there is plenty of opportunity for growth.

Reporting to the Financial Controller & General Manager, the Assistant Financial Controller will assist in ensuring the efficient and effective running of the finance function within the hotel. This will include an innovative management of controls and compliance to ensure that a high level of reporting standards are being maintained. They should consistently seek to provide business acumen to parties both within and outside the finance function to ensure that risk is mitigated, and opportunity taken.

The main focus areas for the AFC include, but not limited to:

  • Commercial Focus
  • Controls & Compliance
  • Month End
  • Weekly tasks which includes income audit, debtors, forecasting and payroll management

In addition, the successful candidate will be required to carry out the co-ordination of Year End and Interim Audit processes including the review and sign-off of information being submitted to External Auditors. They will also assist in preparation of the numbers with the FC so that they make sense and reflect the strategy of the property.

All candidates must be eligible to work in the UK.

For more information or to apply, please contact Tairona at fm@fmrecruitment.co.uk or call on +44 208 600 1164

F&B Cost Controller, London – Position Filled

Posted on by Katherine Wyles

This position has now been filled. Please check our latest job opportunities here

Situated in historic Bloomsbury within a whisper of the City, Theatreland, Soho, and the West End our client is a beautiful boutique hotel who now seek to hire an F & B Cost Controller to join the team.

The main purpose of the role would be to work alongside the Finance Manager and General Manager to ensure a smooth running and day to day operation of the Finance Department. In addition the successful candidate will assist the Finance Manager in the administration of all financial aspects of the finance and accounting function for the hotel, to ensure that all company Policies and Procedures are followed.

As a Food and Beverage Cost Controller, you will be responsible for ensuring that proper records are kept for all inventory items and any variances reconciled and explained. This also applies to checking supplier statements, the processing of invoices and verifying that all invoices are supported by duly approved purchase orders when required, signed receiving documentation and/or the approval of authorised management personnel.

Candidate Requirements

  • Good knowledge of Microsoft Office Word, Excel, Outlook, Lightspeed, Protel and Procure Wizard
  • Previous hotel experience

For more information or to apply, please contact Tairona at fm@fmrecruitment.co.uk or call on +44 20 8600 1164

The Battle for Retention

Posted on by Katherine Wyles

The Battle for Retention  

The hospitality industry has become very familiar with the phrase War for Talent in the last couple of years. A number of factors have led to recruitment challenges we have not faced for decades. Indeed, last summer we wrote an article on “How can Culture win the War for Talent?” and the role of company culture in attracting the most talented candidates. 

However, as recruitment challenges are expected to continue throughout 2023, it seems clear that the most important battle being fought right now is the ‘Battle for Retention’.  

While recruitment and executive search form a large part of the services we offer, we pride ourselves on our overall strategic people support. Our track record of building and maintaining relationships in the industry has allowed us to support clients with long-term people strategies that focus on retention by supporting natural succession, rather than a reactive continuous replacement strategy. Here we share some of the insights that we have found to support a healthy retention strategy. 

Employee Turnover – Facts and Figures
Firstly, it is important to recognise that employee turnover can be good for business, but only if you can achieve a healthy balance of retention. If you track and record your turnover, identify trends to adjust your strategy, you will have a great opportunity to minimise disruption to your operations through excessive turnover.  According to a study by Fourth, the average hospitality employee turnover rate is currently 6% per month, which equates to over 70% annually. Other industries average just 15% for the whole year. This level of turnover is likely to directly affect customers, due to the impact on the overall service experience.  Longer standing employees are also likely to be affected as they become frustrated with the continuous cycle of onboarding and training. 

In order to understand what causes turnover, let’s look at some of the top reasons given for people leaving their position. According to a Forbes articles from 2022 the number one reason for moving jobs is due to a toxic company culture (62%). This is followed up by low salary (59%), poor management (56%), lack of healthy work-life boundaries (49%) and not allowing remote work (43%). 

Culture
While salary will always be a hugely important factor in moving jobs, company culture is proving to be more important when it comes to deciding to change jobs. With the cost of doing business under the microscope as we head into the new year, ensuring that your company culture reflects your business values and is clearly communicated throughout your team, could be the most value-adding action you take to increase retention rates in 2023.  

How we communicate our company culture and values internally and externally is also crucial to managing your online reputation. Current employees want to feel pride in where they work and potential candidates will thoroughly research positions they apply for. Too often, we come across businesses who have not invested in a company website, or indeed any online presence. This lack of visibility can present a challenge with recruitment and retention and is often more damaging than a below average online presence. 

Recruitment and Onboarding
Hiring the right person for the right position may seem like a very obvious choice. However, it can be very tempting to take shortcuts and gloss over red flags in order to fill vacant positions quickly. Taking time to get to know the candidate by asking the right questions and then sharing accurate information about the role and future opportunities is critical to managing expectations on both sides. Equally important is the onboarding process, where all of the hard work in communicating your strong company culture can be quickly undone in the first couple of days in a role. 

Hospitality Students and Graduates
We would always recommend building strong relationships with hospitality schools and universities to help support the future of the industry. Hospitality students and graduates are some of the most passionate and ambitious members of the sector.  

How they progress within your business is often a fair measure of how well you will retain and attract employees. If you find that they are choosing to leave the business or leave the industry after a fixed term of employment, then there may certainly be opportunities to adapt your strategy. We know that hospitality graduates have higher than average expectations of career progression. While promotions and full-time positions are always dependent on a number of factors, how we encourage and communicate ongoing development and promotions when trying to attract the best and brightest graduates, will directly impact decisions at the end of the program.  

Importance of Exit Interviews
Often overlooked in what can be a period of mixed emotions, exit interviews are critically important to identify trends specific to your business. The questions should have a variety of open questions that appeal to different personalities and encourage interviewees to share their thoughts without fear of offending. This can sometimes be a challenging issue, as some employees may have valuable information to share, but might also be hesitant to burn bridges or get people into trouble. 

However, combined with well-structured and recorded annual reviews, exit interviews can be used to identify opportunities to help develop a strong people strategy that supports succession planning, anticipates natural turnover and increases retention. 

If you would like some support with your people strategy in 2023, FM Recruitment are here for you. Specialising in finance, with a superb track record in finding the right people for the right role, we have long standing relationships with clients and candidates and we can help guide you through challenging times. 

As part of Hospitality People Group we are also able to support all areas of human capital across the global hospitality industry. 

Chris Denison Smith, Managing Director
+44 20 8600 1160 / +44 7775 711923
chrisdenisonsmith@fmrecruitment.co.uk 

Andrea Shaw, Director
+44 20 8600 1160 / +44 7714 236469
andreashaw@fmrecruitment.co.uk 

Tairona Lattanzi, Recruitment Consultant
+44 20 8600 1164
taironalattanzi@fmrecruitment.co.uk 

 

 

Group Finance Director, London – Position Filled

Posted on by Katherine Wyles

This position has now been filled. Please check our latest job opportunities here

Our client is a privately owned hospitality group that has diversified into property development and investment, with a primary focus on commercial and residential sectors both in the UK and internationally.

They now wish to hire a Group Finance Director who will be responsible for operational and corporate finance, audit and controls, statutory compliance, regulatory compliance, stakeholder relations and debt facility compliance. The successful candidate will lead the group’s finance function as part of being a senior executive team member. They will also head up the Audit & Controls and hold the post of data protection officer for the group.

In addition the position of Group Finance Director will be responsible for, and independently manage all aspects of Finance (including taxation), audit, statutory and contractual compliance.

The role will be based at their London office with one day per month at a property in Oxford.

 Key Skills Required

  • Qualified accountant (ACCA, CIMA or equivalent)
  • Solid senior finance position experience
  • Strong Communication skills
  • Good interpersonal skills & Demonstrable Initiative
  • A hands-on approach
  • Strong analytical skills & attention to detail

For more information or to apply, please contact Chris Denison Smith at fm@fmrecruitment.co.uk or call on +44 20 8600 1162

HOSPACE 2022 – Overview and looking ahead to 2023 

Posted on by Katherine Wyles

After two years of huge challenges, hospitality enjoyed a bumper year in 2022 as pent-up demand drove business. However, as the Permacrisis (a word that was recently chosen as Collins English Dictionary’s word of the year) shows no sign of abating, 2023 has already been labelled by some as the “year of coping”. In this article, we reflect on some of the insights from HOSPACE and the hospitality industry in 2022 and look forward to what trends we might expect to see in 2023. 

Sustainability
Despite the ongoing cost of living crisis, sustainability continues to be a driving force behind many of the decisions made by owners, operators and investors. The current costs of energy and our reliance on fossil fuels have made more sustainable options a preferred option in terms of future-proofing.  

Speaking at HOSPACE in November, Danny Pecorelli, Managing Director of Exclusive Hotels, noted that while their collection of hotels may include some challenging designs, they have put sustainability into every decision they make. This has led to the introduction of wild swimming pools, technology-led solutions and a gradual movement from gas to induction in the kitchens. 

Unfortunately, many operators noted that none of this comes cheaply, but the cost of not doing something is even higher. 

Danny’s commitment to sustainability was later recognised as he was deservedly announced as the winner of the Inspirational Sustainability Leader of the year award. 

Recruitment
From a recruitment perspective we are continuing to see trends from 2022 expected to continue throughout 2023.  

Culture continues to play a determining factor in decisions candidates make to accept new roles or stay in current positions. We have spoken before about how candidates want to share the same values as their current and prospective employers.  

The way in which companies communicate and act on these values will be seen as a crucial factor in successful recruitment and retention. The cost of living is also a huge factor as many candidates are starting to see moving jobs as being an easier route to an inflation busting pay rise.  

With inflation hitting double figures in recent months, any pay increase less than this is viewed as a real terms pay cut. Moving jobs is often seen as the best way to increase a wage packet and we are now seeing remuneration expectations hitting +20% on current wages.  

2023 – A Coping Year
With these additional costs and an uncertain revenue forecast facing hotel operators in 2023, it is no wonder that a number of commentators at HOSPACE were referring to “A Coping Year” ahead.  

Hospitality has faced huge challenges in the last three years and those that have come through have developed a significant level of resilience.  

In many ways, the Pandemic Pivot was a lifeline for hospitality as it forced operators to adopt new technologies and ways of working to directly improve the customer and employee experience.  

While this agility and adaptability were necessary survival techniques in 2020/1, these skills will be used to continuously improve processes, control costs, boost revenues and drive profits in 2023.  

Previous recessions saw hotels forced to drop rates and drive occupancy to maintain profits. With many hotels still struggling with being under-resourced and the costs of selling a room increasing alongside the cost of living, many hotels will be looking to maintain or even increase rates. Some operators are potentially closing parts of their building or restaurants to save costs.  

Overall, it does look like the luxury sector may be in a stronger position to adapt to the current challenges. Their ability to pass increased costs onto customers who can still afford luxury is a comfort that won’t be reflected at every level of hospitality, which will be faced with a carefully balancing act of cutting costs and raising prices. 

Although 2022 has been a bumper year, we’re seeing a degree of caution for 2023. 

For support with your next career move or to improve your recruitment strategy, please contact FM Recruitment now using any of the below details:   

 Office +44 20 8600 1160 I Email fm@fmrecruitment.co.uk   
Chris Denison Smith +44 7775 711923 I Email:  chrisdenisonsmith@fmrecruitment.co.uk  
Andrea Shaw +44 7714 236469 I Email:  andreashaw@fmrecruitment.co.uk  
Tairona Lattanzi +44 20 8600 1164 I Email: taironalattanzi@fmrecruitment.co.uk

 

Payroll & HR Officer, London – Position Filled

Posted on by Katherine Wyles

This position has now been filled. Please check our latest job opportunities here

Situated in historic Bloomsbury within a whisper of the City, Theatreland, Soho, and the West End our client is a beautiful boutique hotel who now seek to hire a Payroll and HR Officer to join the team.

Reporting to the Finance Manager the main objective of the role is to process the Hotel’s payroll for all relevant staff according to both Policies and Procedures, and common law.

Other duties inlcude but not limited to:

  • Process the monthly hotel payroll, (using ADP Freedom), ensuring all staff are paid on the final working day of every month.
  • Administer the recording of the Hotel’s working time directive
  • Liaise on a regular basis with Human Resources and responding to payroll queries
  • Ensure adequate & accurate payroll records are maintained at all times.
  • Ensure monthly filling of support documents to payroll including starters, leavers, PCN’s, commissions payable, service charge due etc.
  • Reconcile on a monthly basis the records from ADP with the Hotel’s financial accounts for the purpose of making Inland Revenue payments monthly, & reconciling the relevant clearing accounts against actual entries from the bank.
  • Process P11d’s & any other Tax/NI information as & when required.
  • To maintain the immigration file of passports and ensure the monthly immigration tracker is checked and completed
  • Ensure all employees files are kept up to date with all relevant information, certificates issued, new starter paperwork etc.

For more information or to apply, please contact Tairona at fm@fmrecruitment.co.uk or call on +44 20 8600 1164

 

 

 

“We don’t use recruiters!”

Posted on by Katherine Wyles

As proud sponsors of HOSPA, we were delighted to attend HOSPACE 2022 and as ever, there were some intriguing discussions with industry experts which we enjoyed. One of the presentations got off to a thought-provoking start when a panel member announced “we don’t use recruiters!” 

At a time when finances need to be so carefully managed for businesses, we understand that the costs involved in recruitment should be fully justified. However, at a time when so many businesses are experiencing huge challenges in retention and recruitment, is this the kind of support you can do without? 

Naturally, as specialist recruiters, we are speaking from a biased perspective and so appreciate that we need to try and understand this challenge from a different angle.  

In that vein, we should ask why someone would feel like they don’t get value from recruiters? 

In terms of value, a good recruiter will solve the immediate challenge of placing a high performing employee in a key role. However, there are other benefits that can be easily forgotten.  

Depending on the size of the operation, recruitment often involves other employees taking the time-consuming jobs of sifting through CVs, contacting candidates and co-ordinating diaries.  

This takes employees away from their day-to-day roles and away from areas where they can offer direct value to your customers. While some businesses are lucky enough to rarely need to recruit, the lack of experience in the market can make this particularly challenging and time consuming when they do.  

In fact, this lack of experience can often lead to an even more frustrating result if a lead candidate unexpectedly decides to pull out of the application after using the process to negotiate a better package somewhere else, or decides to leave soon after starting in their new role. A recruiter can protect your business and your current employees in these positions. 

Of course, not all recruiters will suit your needs, and your needs may not suit the cheapest option. If you simply want to distribute a job vacancy far and wide then that will be an economical way to get hundreds of CVs and applications, but do you have the resources to sift through them all and find suitable candidates to interview, let alone to hire?  

A specialist recruiter can give you and your team the gift of time, and since fees are usually only paid once a candidate has started their role, there is no outlay until the position is filled. With the guarantee of replacing the role should the candidate not make it through the minimum period, it really is a risk-free solution to a particularly challenging problem. 

As it turns out, we were able to ask a few questions of the panellist about their comment and it was interesting to note that they did backtrack somewhat on their comment to support specialist recruiters like ourselves. This was quite a relief to hear, as we have helped recruit roles in the industry for over 20 years, and have actually successfully assisted this individual’s company several times! 

If you would like to have a chat about your recruitment strategy then please get in touch with our team.  

Office +44 20 8600 1160 I Email fm@fmrecruitment.co.uk    

Chris Denison Smith +44 7775 711923 I Email chrisdenisonsmith@fmrecruitment.co.uk  
Andrea Shaw +44 7714 236469 I Email andreashaw@fmrecruitment.co.uk  
Tairona Lattanzi +44 20 8600 1164 I Email taironalattanzi@fmrecruitment.co.uk

Finance Manager, Henley on Thames – Position Filled

Posted on by Katherine Wyles

This position has now been filled. Please check our latest job opportunities here

Our clients are the owners of a stylish boutique property located in the historic market town of Henley on Thames. The recently renovated hotel has 40 individually designed rooms along with a private members club which offers the opportunity to network, exchange ideas and share best practice, with access to an elegant ‘alternative office’ environment.

They now seek a Finance Manager to join the team with duties including:

  • Reconciling daily takings including cash reconciliations
  • Responsible daily income audit, Accounts Receivable and Accountings Payable including processing supplier payments
  • Responsible payroll reconciliations and processing VAT
  • Support the Financial Controller with management accounts and all month end procedures

 Candidate specification

  • Experience in the hospitality industry or a similar industry, i.e. retail
  • Ability to work independently and as a team player
  • Proven software skills – ie. intermediate to advanced Excel and experience using an EPOS system
  • Highly accurate and numerate
  • An analytical mind
  • An inquisitive mind to query the status quo
  • A willingness to learn and to support the team

To apply, please contact Tairona at fm@fmrecruitment.co.uk or call on +44 208 600 1164

Please note that due to the expected level of response, it will only be possible to contact candidates who have the relevant and required level of experience.

Financial Analyst, London – Position Filled

Posted on by Katherine Wyles

This position has now been filled. Please check our latest job opportunities here

Our client is one of the largest privately-held hospitality organizations in the world and throughout the years has had an ownership interest in and operated over 1000 hotels. Today this stands at over 500 hotels across three continents.

Having formed strategic alliances with many of the World’s largest hotel brands, they now have a very diversified portfolio ranging from budget and aparthotels to mid-market business and large conference hotels to boutique hotels and luxury resorts.

They are now looking to recruit an individual to work with them in a financial analyst/asset management capacity that is not only focused on hotels but that will sit between the private offices of the family and the corporate company. Ideally they are looking for an analyst who can help build models for development deals, other real estate deals and that is looking to grow into an asset manager on the hotel side (with the right training).

The most important skills for the role are below:

  • Highly developed analytical, accounting, financial and coordination skills (experience in underwriting and financially savvy to be able to build necessary models as needed)
  • Strong communication skills
  • Ideally speaks French
  • Ideally has pan European experience
  • Entrepreneurial
  • Willing to learn and has passion for Real Estate (or wants more connection to the physical assets)

For more information or to apply, please contact Andrea at fm@fmrecruitment.co.uk or call on +44 7714 236 469

Senior Financial Analyst, London – Position Filled

Posted on by Katherine Wyles

This position has now been filled. Please check our latest job opportunities here

Based in the United States, our client is a Hospitality Management firm for a select profile of the most trusted, bold, and innovative hotels, resorts, restaurants, and hospitality brands.

They are now seeking to hire an Associate / Senior Financial Analyst to be based in London. This position will report to the VP Acquisitions & Business Development and be responsible for all aspects of analytical and modelling support for UK and European developments.

You may find this opportunity an ideal fit if you:

  • Are an experienced Financial Analyst and have hunger to learn, develop, and grow
  • Are looking for an opportunity to advance in your career, not just a job
  • Are self-motivated, have a strong commitment to quality
  • Are analytical, organized, and can work well independently or collaborate with others
  • Enjoy working in Excel and PowerPoint
  • Enjoy traveling (~30% of the job)

What you’ll bring:

  • Bachelor’s Degree in Hospitality, Finance and/or Real Estate, or related experience required
  • Prior experience (1-2 years) in financial analysis required
  • Financial modeling skills in Excel required
  • Critical and strategic thinking skills
  • Familiarity with hotel operations, financial analysis and real estate concepts
  • Have strong written and verbal communication skills

The successful candidate will bring with them experience of financial analytical role in the hotel, hospitality, or real estate sector. They will have strong IT skills, particularly to include Excel and PowerPoint.  They will strive to succeed in their chosen career path, and will be seeking an exciting, expanding role with a growing company.

For more information or to apply, please contact Chris at fm@fmrecruitment.co.uk or call on +44 20 8600 1160

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