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Furloughed paraplanners – don’t worry about employment

26 July 2020

Paraplanners who have been furloughed and are concerned that their company will not have a job for them should not worry, says Michelle Hoskin, managing director of Standards International.

Speaking on the Professional Paraplanner webinar on Self-motivation, Hoskin  said: “The sector is going to see an explosion of jobs as it expands and grows.”

The financial planning sector is a resilient one, Hoskin emphasised. “We’ve heard great stories from great firms that during the crisis have been taking on new 19 clients here and had 25 new enquiries there in a matter of weeks.

“If you have been furloughed and you think redundancy may be on the cards, or you are in a job that you don’t love or where you don’t feel appreciated, do not worry because just as there are firms that are downsizing and laying people off, there are equally as many firms that are exploding in terms of new business, and they are looking for amazing people.”

Hoskin urged those in furlough to make the most of the opportunities the situation offers, “focus on your health, fitness, your happiness, your family and friends, regroup your life, sort out your CV, think about your skills and how you can improve and develop.

“The people who have the skills and qualities will get snapped up.”

In terms of self-development, Hoskin suggested paraplanners look beyond the normal qualifications associated with financial planning to see what other skills they could learn that would be of use to them in their career and as individuals. She referenced people taking online courses from Yale and Harvard as well as wellbeing and motivational courses.

“Forget about the technical exams, what other skills can you gen up on? There are huge numbers of online courses available. But, you’ve got to be self-motivated to do it. There are people who have done nothing during furlough and others who have taken the time to get fit, lose weight, learn skills. It all comes down to their level of motivation. The power is ultimately in your hands as an individual.”

With virtual working having been proven to work, showing that paraplanners can be trusted to get on with the job and be as productive or more productive working remotely as in the office, Hoskin believes many more firms will be open to employing staff, from around the country, because they realise that this opens up the opportunity to employ the best people rather than be restricted to talent in the local area.

“I’m so excited to see how the sector changes. There are going to be huge opportunities for people.”

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