Time to take stock ... and overindulge
10 Dec 08
After such a turbulent year, this is time to reflect on your position and appreciate what really matters in life
It’s been a considerable time since my last blog, which offers a fair reflection of the amount of spare time I’ve had over the past few months.
Much has happened, most notably Newcastle United have raced out of the bottom three to sit at a mighty 17th in the Premier League table – admittedly rather more precarious than I would like, but a start nonetheless.
Slightly less pressing matters have seen the government take control of RBS through purchase of a majority equity stake in the business, a transaction which adds to the government’s substantial list of acquisitions as a result of the credit crunch. The government, out of necessity rather than desire, is mimicking the debt-fuelled acquisition strategies of more than a few institutions over the past few years.
The government has also announced measures to relieve the burden on lower income households through deferred taxation of the wealthier end of society, and sneaking in a potential National Insurance rate hike into the bargain should Labour be re-elected.
I’ve been through a couple of fairly tortuous month-end periods as the business attempts to get to grips with the impacts of an imminent recession. As with most businesses in these economic climates, there appears to be a significantly-enhanced focus on cost reductions and efficiency drives.
The employment market has become increasingly difficult, even for qualified finance staff, as a result of the headcount reductions in the City (though the winter months are generally a quiet period for this kind of activity anyway), which now appears to include professional service firms, including the Big 4 accountancy firms.
This dip in activity can be viewed optimistically too. Times such as these are ideal periods to consolidate on your current achievements and position, take stock of development opportunities and focus on improving your value add when the economy and employment markets recover from their current rut.
Given that we are now midway through December, this is also a good time to reflect on those things which are really important. Many will be taking some holiday over the coming weeks, during the traditional Christmas period. It is a time for families to come together and spend time with each other, eat and drink more than they should, and exchange gifts (if you are anything like me, you will leave the preparation for this final item far too late – usually the afternoon of December 24th – and completely stress yourself out just in time to take a well-earned long weekend).
Despite the turmoil we have all experienced over the last few months, it is this which we should really value and which we are all able to influence at a personal level.
Until next time…