Creating a succession plan involves identifying and training high-potential employees for key management roles. It’s a critical but often overlooked process. Having a succession plan in place means that the sudden departure of a leader is a manageable event — not a major organizational crisis. Here are seven steps you can take to kick-start your succession planning:
Topics: Management Advice
To gauge the effectiveness and efficiency of your finance function, it can help to know how other firms’ departments operate. To that end, Robert Half and the Financial Executives Research Foundation (FERF) partnered to interview nearly 1,600 executives from accounting and finance departments at public and private companies in the United States and Canada. The result is their fifth annual 2014 Benchmarking the Accounting and Finance Function report.
The report contains data that can help you determine how your organization compares to others within the industry and identify key areas for improvement.
Here are some tips gleaned from the report:
As a manager, you already understand the importance of getting to know your team members’ individual strengths and weaknesses. But do you truly know their career aspirations?
Have you seen an uptick in employee turnover at your company? With an improving economy, many workers are looking for greener pastures and perks like the option to work remotely just might keep your staff from jumping ship. According to a recent Accountemps survey, 35 percent of chief financial officers (CFOs) interviewed said the top benefit of offering remote work arrangements is higher morale and retention, followed by 28 percent who said increasing productivity by eliminating commute time and 15 percent who believed it saves money by requiring less office space.
In today’s job market, skilled finance and accounting professionals are hard to come by. So it’s highly likely you’ll find some of your employees being wooed by the competition. If it’s a particularly valued staff member, you might consider making a counteroffer. Sensible reaction, yes?
Actually, no. Countering rarely ends favorably for managers. Here are five reasons making a counteroffer is counterproductive:
Topics: Management Advice
Meeting with a hiring manager? It’s not just about what you say. Your job interview body language is also important. Smile, make eye contact and maintain good posture to signal that you’re confident, poised and engaged. Crossing your arms, slouching, wearing a tense expression, tapping your foot or checking your phone are all examples of poor job interview body language.
In addition, while some people try to establish rapport by using the “mirroring technique” — adopting the job interviewer’s body language, gestures and tone — this approach can backfire if you’re not subtle about it. For example, the blundering job candidate in this video took the concept of mirroring to the max:
Let’s face it, the cost to obtain an accounting education is pricey. We’re here to help accounting students mitigate some of those expenses as they chart an accounting career path.
Accountemps and the American Institute of CPAs (AICPA) are providing $10,000 scholarships to four outstanding students pursuing an undergraduate or graduate degree in accounting or a related major. The deadline for scholarship applications is April 1, 2015.
Topics: Industry News
Robert Half recently hosted a webinar on compensation and recruitment trends in accounting and finance titled “What You Need to Know to Hire and Be Hired in the New Year: 2015 Financial Employment and Compensation Outlook.” While the panelists were unable to answer all the participant questions in the time allotted, we’re answering them in a three-part blog series.
In the first two articles in the series, we answered questions from employers and then from job seekers. Today, Paul McDonald, senior executive director of Robert Half and moderator of the panel discussion, will address hiring trends and the accounting and finance job markets as a whole.