Navigating Change

Welcome to the September edition of the Cherry Professional Newsletter!

As September begins, it's a time of change and new beginnings—a perfect opportunity to reflect on how businesses and professionals can navigate transitions effectively. In this month's newsletter, we'll explore the strategies and tools that can help organisations and individuals thrive in an ever-evolving work environment.

National Payroll Week is here! (2nd to 6th September). The week serves not only to recognise their efforts but also to highlight the broader significance of payroll in sustaining the financial well-being of the nation. By ensuring compliance with complex regulations and contributing to the flow of billions of pounds into the economy, payroll professionals play a crucial role in both business success and the economic stability of the UK. National Payroll Week is a time to reflect on these contributions and to promote greater understanding of the payroll process, which impacts every working individual in the country.

At Cherry Professional, we appreciate the immense value that payroll teams bring to the table. This Payroll Week, we’re celebrating their contributions and highlighting the importance of this often-overlooked function in the UK market.

The Vital Role of Payroll Professionals in the UK

Are you paying your Payroll heroes enough?

As we celebrate Payroll Week, it's important to recognise the value of payroll professionals within the transactional finance sector. Based on our Accountancy and Finance Salary Survey 2024, Payroll Managers in the UK typically earn around ￡46,000 annually, with temporary roles ranging between ￡19 and ￡36 per hour. Meanwhile, Payroll Assistants, who play a crucial role in supporting payroll operations, earn a typical salary of ￡27,000, with temporary rates between ￡13 and ￡23 per hour. These figures highlight the significant responsibility placed on payroll professionals to ensure accuracy and compliance in payroll processes. As businesses continue to navigate complex financial landscapes, the demand for skilled payroll professionals remains strong, reflecting their critical role in maintaining organisational stability.

Payroll Manager salaries can vary widely depending on the size and sector of the organisation, as well as the scale and complexity of the payroll and the size of the team managed. For a more tailored assessment of your own compensation, please reach out to Nicola Freeman, who would be pleased to discuss your specific circumstances.

Nicola Freeman

[email protected] 07584 093819

We are delighted to welcome Reeve Clapson to the Cherry team!

We are delighted to welcome Reeve Clapson to the Cherry team! Reeve joins us as a Recruitment Consultant specialising in Engineering and Manufacturing. With a commitment to transparency and collaboration, Reeve works to connect candidates with companies that align with their personality, strengths, and career goals.When he’s not busy matching top talent with the right opportunities, Reeve enjoys unwinding at the pub with a couple of Malibu and cokes. Join us in welcoming Reeve to the team!

Upskilling for the Future: The Key to Staying Competitive

In today’s rapidly evolving job market, the concept of lifelong learning has never been more critical. As industries continue to transform due to technological advancements and shifting economic landscapes, both employees and employers must recognise the importance of upskilling to stay competitive.

Why Upskilling Matters

Upskilling refers to the process of learning new skills or improving existing ones to stay relevant in your current role or to prepare for future opportunities. For employees, upskilling is essential to remain competitive and to advance in their careers. For employers, it’s a strategic investment that ensures the workforce is equipped to handle new challenges and can drive the company forward.

A report by the World Economic Forum estimates that by 2025, 50% of all employees will need reskilling as the adoption of technology increases. In the UK, sectors such as finance, healthcare, and technology are seeing particularly rapid changes, with new skills in data analytics, digital literacy, and AI becoming increasingly valuable.

Benefits of Upskilling for Employees

For professionals, upskilling offers numerous benefits, including increased job security, higher earning potential, and better career progression opportunities. By proactively developing new skills, you can position yourself as a vital asset to your organisation, making you more resilient to industry changes and economic shifts.

Moreover, upskilling can lead to greater job satisfaction. Learning new skills can reignite your passion for your work, keep you engaged, and open doors to new and exciting opportunities within your field or even in entirely new industries.

How Employers Can Support Upskilling

For businesses, supporting employee upskilling is not just a benefit—it’s a necessity. Companies that invest in upskilling their workforce are more likely to retain top talent, boost productivity, and stay competitive in a rapidly changing market.

Here are some strategies businesses can implement:

1. Create a Culture of Continuous Learning: Encourage employees to take ownership of their professional development by providing access to learning resources, such as online courses, workshops, and mentorship programs.
2. Offer Tailored Training Programs: Develop specific training programs that address the unique needs of your industry and the future skills your business will require.
3. Leverage Technology: Utilise e-learning platforms and other digital tools to provide flexible, on-demand learning opportunities that employees can fit around their schedules.
4. Recognize and Reward Development: Acknowledge employees who actively pursue upskilling opportunities by offering promotions, bonuses, or other incentives to reinforce the value of continuous learning.

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