Author: apatel

If you’ve posted a job listing, you’re likely aware about the emphasis on experience when hiring a new team member. However, times might just be changing as new approaches to evaluating job candidates are emerging. In the realm of accounting and finance, companies need skilled professionals who can handle financial data, interpret trends and make strategic decisions that impact the bottom line. As a manager in this industry, you know just how valuable experienced employees can be. However, you may be missing out on an untapped source of talent by focusing solely on experience. Let’s explore why hiring for potential might just be as important (if not more so) as hiring for experience in the accounting and finance industry.

1. It’s a long-term investment

Experience is valuable, but it can also be limiting. People who have been doing the same thing for years may not be open to new ideas or ways of approaching problems. By contrast, hiring someone for their potential — or hiring someone based on their skill set rather than their years of experience — can prove valuable.

When you hire someone with potential, you’re investing in their long-term growth and development. They likely have fresh ideas, are eager to learn and, ultimately, they’re more likely to take on new challenges that can benefit your business.

2. It creates diversity

When it comes to diversity, it’s important not to overlook diversity of thought. When you hire strictly based on experience, you tend to hire people with the same qualifications, with similar backgrounds. This opens the door to a lack of creative thinking and problem-solving skills within your team. But when you pursue candidates with different experience levels, backgrounds, education levels or interests, you’re more likely to build a well-rounded team that is more apt to look at challenges from a multitude of perspectives.

3. It can add unique skills and strengths to your team

Hiring for potential is not synonymous with hiring inexperienced candidates. Rather, it means hiring someone whose potentially nonlinear professional background has led to unique skills or strengths that may look different from those typically in the accounting and finance path of progression. For example, someone with experience in a different industry might bring skills (like attention to detail, for example) that can be applied to the field of accounting and finance. Or, a candidate with strong analytical skills from a different field can still be a valuable asset to your team. The key ingredient in successfully hiring for potential is looking for an eagerness and a willingness to learn.

4. It can reduce the risk of burnout

Burnout is a hot topic in today’s accounting and finance industry. If an individual has been doing the same day-to-day tasks for years, chances are they’re going to become bored or dissatisfied. But by focusing on someone’s potential, you’re hiring candidates that are eager and excited to take on the new challenges of the role. This creates a healthy culture of growth while also reducing the risk of burnout. 

Ultimately, by focusing on potential, you can build a team that is passionate to learn and eager to grow with your business. Are you currently looking to add a member to your team? Contact us today; we’re here to help you with your talent search.

With the global talent shortage expected to continue into this year, companies will need to be more proactive than ever when it comes to talent and recruiting. To remain competitive and find top-tier candidates, there are certain trends that employers should consider in order to attract and retain talented professionals. Here are the top trends for companies to watch for in 2023:

1. Competitive Compensation & Benefits

Competitive compensation is no longer just about offering a competitive salary – it’s about offering a comprehensive package of benefits that allows employees to feel valued and appreciated. This means thinking competitively about all elements of your benefits package: medical coverage, retirement plans, commuter benefits, childcare support, and other perks such as wellness programs or flexible work arrangements. All in addition to compensation that aligns – or slightly exceeds – the employee’s skill level.

2. Quick Recruiting Processes

Competition for talented workers is at an all-time high; and that’s not expected to change in the near future. Therefore, you need to streamline your recruitment processes in order to move quickly when you find top candidates. Have standard work for the recruitment process, which may include using automated applicant tracking systems or utilizing social networks like LinkedIn and Indeed as part of the process. Additionally, companies should consider virtual interview strategies as part of their hiring practices in order to reduce time-to-hire and make their recruiting efforts more efficient.

3. Focus on Employee Mental Health

Employers have started to prioritize mental health – and will need to continue to do so – by proactively creating an environment of acceptance and support for employees. This could mean providing access to mental health resources through an employee assistance program or offering training on how managers can better recognize signs of stress or depression in the workplace. Additionally, it’s important that, as an employer, you’re prioritizing flexibility.

4. Emphasis on Career Growth Opportunities

Employees want meaningful work experiences with potential for advancement. In addition to competitive salary and benefits, they want a job that provides long-term career growth opportunities as well as avenues for upskilling and expanding their abilities within the organization. Therefore, employers need to create career development paths within their organization that allow employees opportunities for learning new skills or advancing into higher positions over time.

Here’s a quick guide to some essential retention tactics.

Productivity has been on the decline, resulting in what some are deeming “curbed ambition.” But, does this come as a surprise? Since the pandemic, employees have been dealing with varying work-from-home policies – leaving them confused about expectations. At the same time, inflation has caused associates to see decreasing value in their salaries, retirement funds, and bonuses. Through all of this, however, the need for companies to continually outperform hasn’t changed. So, how can managers combat this productivity slump? Here are four suggestions. 

1. Set Clear Expectations

When employees are unsure of expectations, it can be difficult for them to stay focused and productive. Make sure that everyone is aware of the company’s goals, as well as their own individual goals, and communicate these regularly. That said, it’s important to be understanding and a bit more flexible with your expectations during this hard season. Ultimately, it’s important that everyone is on the same page.

2. Encourage Breaks

The key to working better? Working less. Well, in a way, at least. IIt can be easy for employees to get bogged down in their work and lose focus if they don’t take breaks occasionally. Encourage your team to take a break every hour or so, even if it’s just for a few minutes. This will help them stay fresh and motivated, and they’ll be able to get more done in less time.

3. Facilitate Collaboration

Encouraging collaboration among team members can also help boost productivity. When employees work together, they can share ideas and help each other out with problem-solving. This can lead to a more efficient and productive team overall. Think about what individuals would work best with certain members on your team.

4. Celebrate Successes

When your team achieves success, make sure to celebrate! This will encourage them to continue working hard and put forth their best effort. A little recognition can go a long way in motivating employees.

As the economy ramps back up, you may find the best way to increase productivity is to add additional members to your team. Contact us today to see how we can save you time, cost and uncertainty while optimizing your company’s performance in the recruitment process.

Interviewing a candidate can be a daunting task. But what if it didn’t have to be? At the root of it: you want to ensure you’re doing everything you can to find the best possible candidate. However, to make the process smoother and more efficient, there are some interview practices you need to avoid. This article will help you avoid those bad interview practices — steering you towards a process that is more enjoyable for you, and for the candidate.

Don’t Make the Interview Process Unpleasant for the Candidate

Interviews are a window into what working for your company is like. They’re also the candidate’s first experience with the company. Therefore, it’s crucial that you leave a good first impression.

• Consider alternatives to in-person interviews: The digital world is here. And with it comes the opportunity to make the interview process more conducive to a candidate’s busy schedule. Especially if the candidate is currently working full time, consider making the interview process virtual – you might even be opening the doors to those who wouldn’t otherwise be able to make an in-person interview.
• Respond to the candidate regardless of your decision: Failing to respond – or ghosting – a candidate is unacceptable. Plus, word travels fast: you don’t want to lose out on future candidates because of a bad-interview reputation. Instead, be sure you inform candidates whether or not they will be advancing to the next interview.

Don’t Ask Questions That Are Biased or Ignore Diversity, Equity and Inclusion (DEI)

In addition to illegal questions to avoid, it’s important that you’re considerate of something that 76% of candidates find important in potential employers: diversity and inclusion*.

• Properly pronounce their name: The first step in creating a positive interview environment: ensure you’re pronouncing the candidate’s name properly. Sounds simple, but a mispronounced name for the duration of an interview is something that people remember – and not in a positive light. Instead, if you’re unsure, simply ask “Am I pronouncing that correctly?”
• Ask each candidate the same questions: Doing so will help you avoid bias in the presentation of your interview questions – establishing a fair foundation to base your decision off of.

Don’t Forget To Make the Conversation Two-Sided

Hint: interviews aren’t only for the benefit of the employer. It’s important to make the candidate feel that this interview process is mutually beneficial.

• Share information and allow the candidate to ask you questions, too: Interviews are two-sided. That means you need to talk about what the company culture is like and how the team operates. This will help candidates determine if the company is the right fit for them.
• Avoid being artificial: It’s important to be professional, but also real. Talk openly and honestly about the company culture, but avoid overselling. Candidates are human; if you’re overzealous and make big promises about what it’s like to work at the company, often they’ll see through it.