Author: apatel

How to Harness the Power of ‘No’

You’re not alone if you feel guilty and uncomfortable saying no at work. You may believe that others will dislike you, think you are entitled or not view you as a team player. And while those yeses can benefit us and those around us, they can also be detrimental to our overall careers. So, when we’re asked to complete tasks that seem unmanageable, unsuitable or inappropriate, we need to know how to say no. It is critical to set boundaries for yourself, especially in a professional setting.

How to Say No

Saying no may appear simple, but it is far more difficult in practice. To say no in the workplace, assess the situation and explain yourself honestly. Offer solutions to help others, and remember to refrain from coming off rude. Some advantages of being capable of saying no at work involve improved time management, reduced stress, setting boundaries for yourself and productivity gains. Even though you’re saying no, it’s essential to thank them for the opportunity. Explain your reasons for saying no calmly, or ask what other tasks you can delegate to make room for this. Because simply saying no without offering a solution may be perceived as unprofessional by some, you should always be prepared to present an alternative option.

When to Say No

Saying yes most of the time shows positivity and a willingness to participate, but sometimes saying no is appropriate. When a task is assigned to you at work that is outside your job description and could be completed by the person asking for it with ease, politely decline. It is essential to say no at work because it earns you respect. Saying no when you aren’t being paid to do something demonstrates your commitment to your role and the value of your time. There are occasions when you should push yourself, but some requests may be far beyond your capabilities. Also, consider if you have the resources and time to follow through on a request. It is simple to say yes, but do you have the capacity to complete the request to the greatest extent of your abilities? You never want to do something that requires only half the effort.

A significant portion of the workplace today is based on excellent teamwork. And we all want to be appreciated and respected by our coworkers. Saying no can feel like a betrayal of team values. However, there are a few key points to remember: Overexerting yourself causes burnout, which impacts both the individual and the company. You can prioritize your work by considering your goals, expertise and time constraints. Furthermore, being more effective and productive with a strong work ethic will benefit you and those around you. If you are constantly overloaded with work that interferes with your work and personal life, it is time to say no.

To learn more about how you can boost your career performance and goals, check out these work life hacks.

Pre-interview Research: A Guide to Success

Going into a job interview uninformed is like going into a test unprepared — you’re setting yourself up for failure. But, a little bit of research can go a long way in helping you ace your next job interview. The key to a successful interview is twofold: doing your research and drawing connections. Here’s what you should know before your next job interview.

Start by researching the company

There are two reasons it’s important to research the company – inside and out – before your interview: 

  1. It will help you understand if this company is aligned with your personal values
  2. It shows the interviewer that you’re serious about this opportunity 

The good news? There are many easily accessible resources for you to start your research. Here are some ways to start gathering information.

  1. Social Media: In today’s world, social media is a powerful research tool. LinkedIn and Glassdoor can be especially helpful in seeing what current employees are saying about the company. Here’s one way to make a connection from your social media research:
    • Example: “I was looking at the company’s Glassdoor profile and I saw that many employees appreciate the diversity of thought throughout the organization. That’s something that I highly value. In your opinion, how does the company maintain that value so well?” 
  2. Company Websites and Industry News: Explore the company’s website and get to know their products or services. Read through their “About Us” page and see what their mission and values are. Additionally, stay up-to-date on industry news, especially if you’re interviewing for a position in a rapidly changing industry like finance. Our 2022 Q4 Accounting and Finance Employment Report will give you a good foundation of knowledge to draw from during your interview.
  3. Review the Job Description: What experience is the company seeking? What kind of personality would fit well with the team? Use this information to prepare examples of times when you’ve excelled in similar situations. 

Connect it back to you

Think about what the interviewer is looking for in a candidate. Often, they need someone with the right resume, but ideally that person would also be highly passionate and excited about the company. That’s why it’s important to consider the company’s mission statement – does it resonate with you? Are there recent initiatives you can relate to on a personal level? Draw on those connections during your interview. In fact, tie these concepts into your interview answers. 

For example, “I saw that the organization’s mission is to continually serve the customer. I personally resonate with that mission, and during my last role, I had an opportunity to exceed the customer’s expectations.”

Also consider the company’s products or services: try to understand what sets them apart from their competitors. This can also lead to a great interview conversation.

Ultimately, conducting research before an interview will help you be more prepared for the interview, it will show that you’re excited about the opportunity and it will help you understand if the company is a good fit for what you’re looking for. For additional interview preparation, check out this article on acing behavioral interview questions.

The Great Debate: Salary vs. Title

There’s an ongoing discussion over what is more significant: job title or salary. After all, both are critical elements in one’s career development and trajectory. Title helps set the pace for your professional identity to further your career, and pay is vital to your everyday life. Before requesting a title change or a pay raise, remember that each has advantages and disadvantages. To make the best decision for your career, you must analyze the pros and cons of each option. Here are a few things to consider before making this decision.

Behind the Pay

Salary is an essential aspect of an employee’s job satisfaction since it directly influences an employee’s performance and incentive to work. Salary ranges at larger companies are typically established in advance. And if you reach the top of that range for your specific position, the only option to receive more money is to change your title. Start-ups and smaller organizations tend to hand out high-level titles, while the pay may not be as noteworthy unless the company is turning a profit. The salary you receive is a direct reflection of your market value. As a result, candidates with a higher salary but a lesser title can use that to earn a better title for future positions to advance their careers. On the other hand, a senior salary and a junior title may result in you undervaluing yourself on the job market.

Behind the Title

Job titles are important because words have great power. They provide us with the confidence and feeling of purpose we require to navigate through our professional lives. Getting a job with a high-level title can be difficult. These roles are sought-after because they can boost your résumé and position you for success in the future. Companies are aware of this and can use it to their advantage by combining a top rank with a low wage. Sometimes company recruiters get fixated on titles, and candidates that don’t have the right one can find it more challenging to get suitable roles. A good title may lead to greater opportunities, but only if the organization has a solid enough reputation that your position there can lead to a comparable job elsewhere. Just be sure your decision will assist you in achieving your long-term career goals.

The Most Value for You

People have diverse job objectives, and few strive to figure out what they want to achieve long-term. The first step in making this choice is to determine what your job role and pay mean to you. Making the proper decision might be tough at times, and sometimes we must do what is necessary. We advise you to keep your current position in mind and examine your circumstances to determine which of these two desires should take precedence. To learn more about salary information in your area, download our 2022 Salary Guide for accounting and finance professionals.

Are You Prepared To Be a Manager? Here’s How You Can Know

Considering becoming a manager? Here are the top ways to know you’re prepared for that next phase in your career.

Check your Internal Motivation: Where Are You at in Your Career?

Think about your current role: do you know it well enough to teach someone else how to do it? Some make the mistake of thinking that managerial promotions should follow a strict time-in-role script. But, knowledge of your current role can outweigh the duration of time spent in your current role. Similarly, time in your role doesn’t necessarily mean you’ve been meeting or exceeding expectations. Ask yourself: Do you know your job inside and out? Do you have a proven, sustained track record of success in your current position?

Letting go. When thinking of becoming a manager, many think about the new responsibilities that they’ll gain. However, though you’re gaining responsibilities, you’re also going to be allocating work. And the biggest piece to successfully allocating work? Trust. If you’re prepared to become a manager, you need to be okay with releasing control and trusting that the work you’re allocating is getting done properly.

Managers have to think about the bigger picture: how their team is contributing to the company’s success. As a manager, that success starts with you – your individual contribution – it also ends with you – through your responsibility for your team’s contributions. Great managers are excited and motivated by this concept. Ask yourself: Are you excited to take on new organizational challenges?

Check your External Motivation: Are You Ready To Help Others?

Seventy-five percent of managers in a SHRM survey said that bringing people together to solve problems is one of the top skills a manager needs. Are you a known problem solver? As a manager, you will not only be solving your own problems, but you’ll need to advise your team members on their problems as well. Patience and a willingness to help others are also top managerial skills. If someone comes to you with a question (or several questions), how would you react? If you’re excited to provide assistance and guidance to a resolution, you might just be ready for your managerial career.

One key consideration for being promoted to managing a team: it’s not always going to be about you. In fact, as a manager, you’re committed to the success of those on your team. So, are you willing to help others thrive? Part of retaining a team is investing in the career growth and development of the team members. If you’re ready to help boost others’ careers, check out these long-lasting ways to improve employee well-being.

Managing Hybrid Staff: 4 Insights for Success

Many companies are making the switch to hybrid, and as a manager, understanding and adapting to this new style of work is essential. How can you successfully manage a hybrid workforce? Here are four tips to help you out.

Be Flexible

You’re likely familiar with the fact that your employees — and their work preferences — don’t fall under a one-size-fits-all category. The good news? Knowing what types of hybrid workers you have in your organization can be a huge advantage. So, how can you determine employee preferences and personality types?

One way is to send out a simple survey. Ask your associates questions regarding in-person versus remote work preferences, hybrid work concerns, and opportunities they’re looking forward to. You’ll likely find that your employees fit into a few distinct categories: those that are happy with a hybrid schedule, those that are unsure about the change, and those that crave help with potential hybrid challenges.

Additionally, consider asking team members to take a workplace-based personality test. This list of the top employer-used personality tests might be a good place to start. Understanding the different personality types on your team will propel you to a more efficient way of working; once you know what workstyles are complementary to each other, you can have confidence in task assignment and navigating team synergy.

Be Strategic

If you know what types of hybrid workers are on your team, it’s time to be strategic. The importance of deadlines, expectations and accountability is heightened when considering a hybrid environment. Setting clear priorities for what work should be done in-person and what work should be done remotely is key to optimizing your team’s time.

Be Inclusive

Exclusivity is the enemy of hybrid work. That’s why it’s essential to be mindful of those who are working remotely while others are in the office. Ensure all-team meetings are held online, and create dedicated channels for team-wide and company-wide communications. That way no one misses a memo.

Also be sure to encourage communication and collaboration. To combat feelings of isolation, facilitate team-building activities such as social events or group lunches. This will help employees feel more connected to one another and foster a sense of teamwork.

Watch for Signs of Burnout

As employees adjust to the new routine of a hybrid workstyle, it’s important to be mindful of the key indicators of burnout. Worried about your team finding a healthy work-life balance? Here’s how to handle employee burnout and prioritize wellness in your workplace.

4 Ways to Hack Your Work Life

There’s a lot going on right now. The thing is — that seems to be the natural state of the world as of late. Our advice? Don’t let your job performance be affected by those outside nuisances. We’ve rounded up a few proven ways to hack your work life and stay on track with your career goals in 2022.

1. Start Your Work Day with the Toughest Task

People’s productivity hours vary. But devoting the first part of the work day to the most time-consuming or challenging item on your to-do list can help create some momentum. Even if you don’t completely finish the task in one go, you’ll still experience a sense of accomplishment that can keep you focused on your objectives.

2. Establish Two Deadlines

Life happens. And while deadlines hold us accountable and on schedule with accomplishing our set goals, missing said milestones can be a bad look — especially in a professional space. That’s where establishing two deadlines comes in. Create a small buffer for the unexpected by setting a deadline for yourself and an official deadline for colleagues or clients a few days later. Trust us; you’ll thank yourself for the extra time.

3. Take Control of Your Inbox

We spend a lot of time composing and responding to emails. And as the post-pandemic workplace continues to change, we are relying more and more on email and other technologies to communicate with our teams and business partners. But do you ever feel your inbox is starting to hijack your work day? Email batching is an easy strategy to relieve yourself of the need to constantly monitor your messages by allotting a few times throughout the day to working in your inbox. You’ll save time and energy by eliminating that one, yet all-consuming disruption and improve your focus on the task at hand.

4. Make Time for You

One of the fastest routes to burnout is not actively penciling in time for things you enjoy — outside of work. Yes, that means inputting hobbies, activities or outings in your calendar to ensure there is dedicated space in your week for things that bring you joy. Whether it’s a massage, cozying up with a good book or attending that Pilates class, these essential plans help you recharge and stay motivated during traditional work hours.

For more career tips, insights and additional ways to hack your work life, check out our blog!

2022 Q3 Accounting and Finance Employment Report

There’s been some mixed expectations for what to anticipate in Q3 and the rest of this year. High inflation readings coupled with the U.S.’ strong labor performance still have employers and candidates moving forward in their hiring and job search efforts, if not a little more cautiously.

In June, the U.S. Bureau of Labor Statistics reports a total of 372,000 added jobs, with gains in the professional and business services, leisure and hospitality and health care sectors. The national unemployment rate was unchanged at 3.6 percent for the fourth consecutive month — hovering just above the pre-pandemic low in February 2020. That stat for degreed professionals is even lower at a mere 2.1 percent.

accounting and finance employment report

 

 

 

 

 

 

 

 

 

 

Credit: U.S. Bureau of Labor Statistics

Still, CFOs are less optimistic than they were at the start of the second quarter. In fact, the previous expectation of 2.5 percent GDP growth for the next 12 months shrunk to 1.5 percent by those surveyed in The CFO Survey, a joint project of Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta. The CFO Board, however, sees the clear momentum in the national job market as a positive sign — but predict a mild recession on the horizon.

So what does this mean for Q3? Check out our forecast below:

For Employers

Here’s the lead: companies are hiring. In fact, CareerBuilder notes a healthy temporary staffing penetration rate of 2.07 percent in June — a key indicator of hiring trends several months ahead of non-staffing employment.

accounting and finance employment report

 

 

 

 

 

 

 

Credit: CareerBuilder

Employers are continuing to put their best offers forward by showcasing inclusive company cultures and competitive salaries to attract candidates in a tight market. They’re also utilizing consultants to fill accounting and finance roles, and plan on relying more on contract workers in the coming years. Just in Q3, G. Palmer & Associates predicts the demand for temporary workers to increase by 9.6 percent in the U.S.

One area businesses should consider as they compete for professionals is exploring why team members choose to resign from their organization. According to NewsBreak, the “Great Resignation” is leaving some candidates regretful of their decisions — opening the door for companies to rehire “boomerang” employees. A good way to re-engage that talent is to understand the basis behind their exit, so you can address it in negotiations and pave the way for successfully retaining all employees.

For Job Seekers

Potential signs of a slowing economy aren’t stopping employers from acquiring the best accounting and finance people for their teams. And while the summer may seem like an opportune time to take a vacation from your job search, think again.

Unemployment rates for workers with a college degree are far less than the national average, with nearly two jobs open for every available employee. That means skilled professionals with experience and in-demand industry backgrounds have their fair share of options available, and should consider what is most important to them in a new role. Most importantly — don’t be afraid to ask for it.

Salaries are gradually rising to meet the demands of today’s professionals, as well as reflect the current cost of living and inflation. Within the past 12 months, the average hourly earnings rose 5.1 percent, according to the BLS. Other employers are more open to creating roles that are hybrid or remote to meet the needs of those seeking more flexible work schedules.

Partner with staffing and recruiting specialists to find career opportunities that check all your boxes, as well as gain access to jobs that may not be currently showcased on traditional job boards.

Elevating Employee Productivity During the Summer

How do you balance the relaxing nature of the summer season with the financial goals of the company? Here are the top three things that companies can do to encourage employee productivity during summer.

Set goals that stimulate employee productivity

When it comes to setting goals for employees, it’s important to think about things that will stimulate productivity. One way to do this is by setting goals that center around task importance and the diversity of the tasks at hand.

Task Importance

There’s a stark difference between completing tasks that feel mindless and those that greatly contribute to company wellbeing. The outcome of this difference? Job satisfaction. If you’ve heard the quote, “The whole is greater than the sum of its parts,” you’re likely familiar with this concept. Helping employees see the ultimate goals that a string of tasks are working toward can be highly motivational and lead to greater productivity.

Assignment Diversity

Having a diverse set of assignments allows for employees to engage different parts of their brain, and utilize different skill sets – both of which stimulate productivity. How, exactly? Ultimately, task variety reduces boredom. So, think about each employee and the different tasks and assignments you can be implementing into their schedules.

Square-away the yearly calendar during the slower season

With tax season out of the way, it’s time to take advantage of the summer work lull. This is the perfect time for you and your team to review the goals that were set at the beginning of the year. Also, evaluate what still needs to be done before January, and create a plan for the remaining months of the year. This is the perfect season to inspire your employees to tackle tasks that may get in their way come tax season.

This is also the time to encourage your associates to pursue development objectives. If there are any trainings or certifications they could complete that would benefit their careers – and the company – this is a great time for them to do so.

Support flexibility for your employees

Flexibility goes a long way. The potential summertime lull in workload is matched with an uptick in associates’ personal lives. The busyness of having children out of school for the summer coupled with vacations and long weekends causes employees to cherish flexibility in their work schedules during this season. So, how can you help? Think about creative ways to provide flexibility in employees’ schedules. Perhaps they can work an extra hour Monday through Thursday and take Fridays off. Also be sure to encourage them to use their paid time off. Flexible schedules help your employees feel appreciated in addition to providing a healthy work-life balance.

If you’re driving a team’s productivity this summer, be sure to read up on adopting an agile mindset.

Starting a New Job? Conquer the First 90 Days Like a Pro

After landing a new job, the gears that once propelled you through the application and interview process start to shift. Now, you should be zeroing in on how to be successful in this new role.

The first 90 days of a new job are crucial for making a good impression. During this time, you need to be focused, productive, and take advantage of every opportunity to learn and grow. Here are some tips for conquering the first 90 days of a new job like a pro.

Define Your 90-Day Goals

When starting a new job, it’s important to establish some goals for the first 90 days. In fact, this exercise should be your top priority. The 90-day goals you set will act as your true north as you navigate this new position. 

Meet with your manager to understand what is expected of you, and then develop a list of what you’d like to expect of yourself. During this time, ask:

  • How can I best deliver results/contribute to the team?
  • How do I want to develop professionally during the first year, and what can I do during the first 90 days to set myself up for success?

Become a People-person

If first impressions are lasting impressions, as you meet new colleagues, ensure your first impression is a good one. In a virtual environment, this may seem harder than it previously was. That’s why being proactive is key. You may need to go out of your way to meet with new team members, even if just for 15 minutes, to introduce yourself and get to know them better. Hone in on the organizational chart, and learn who you can go to for what – this will help you traverse future projects.

As you meet with fellow teammates, be intentional about asking questions. Remember, the 90-day window serves as a grace period for questions — there are questions that you can ask during the first 90 days that may seem off-putting to ask after that 90-day period. So, not only should you be asking questions about how this new team operates, new terms that you might not be familiar with, or each colleagues’ work style, but be sure to take notes.

Lean into the Learning Curve

The first 90 days of a new job are exciting, but can also be overwhelming. Trying to memorize new names, new titles, new processes — all while trying to master your new role can prove to be a huge undertaking. In fact, data has shown that new employees only have a 25 percent productivity rate during the first month on the job. In fact, it’s not until after that 90 day period that a new employee reaches their full-productivity capacity. That’s why during the first 90 days it’s especially important to be patient with yourself. Listen, observe and absorb information. Once you pass the 90 day mark, then you can start to form opinions and begin implementing changes.

Read on about developing important soft skills to help you thrive in your new work environment.

Top Value-adding Achievements to Highlight on Your Resume

When applying for jobs, many make a big mistake – they believe their resume only serves to outline their previous responsibilities. Truth is, it’s more than that. If your resume doesn’t show the value that you’ve brought to past employers, you’re missing the mark. In a sea of applications, stand out by including these value-adding achievements on your resume.

Highlight Ways You Increased Revenue or Reduced Spending

Generating revenue and cutting costs are key goals of every business. So ask yourself, what was your role in working towards those goals at your previous workplace? When it comes to increasing revenue, be specific. Be sure to include dollar signs and figures. The main point here is to connect the dots: If a project you worked on resulted in an increase in revenue, make note of that. After all, you were part of the team that made it happen.

Same goes for saving money. If you identified ways the company was overspending, highlight them on your resume. Calculate percentages that show the impact these changes had in reducing spending.

Here is an example from Zety.com of what this could look like for a financial analyst: “Saved [company name] X% by identifying [the exact number] of low-margin projects.”

Showcase Systems or Procedures You Introduced, Developed, Optimized or Implemented

The ability to identify and overcome current or potential problems is a valuable skill for any employer. What ways have you creatively tackled a problem at hand? Perhaps you found a way to simplify an overly complicated process, or maybe you identified a new system that will alleviate the team workload. These are things that add value to your employer, and should certainly be included on your resume.

But how can you quantify these examples? You can calculate hours saved or use numbers to show how the process was simplified.

Here is an example: “Implemented a new system that allowed two people to do the same amount of tasks that previously took four people.”

Include Awards You’ve Won

If you’ve won an award, it’s definitely worth noting on your resume. The value-add? It shows your future employer that they’d be getting the best in the business. And it looks good to their customers and future job seekers to know that the team is highly qualified.

Now that your resume is ready to go, check out these tips for acing behavioral interview questions.