Reining in Rumors: How to Effectively Manage Office Gossip

Reining in Rumors: How to Effectively Manage Office Gossip
Kim Shark, Recruiting Manager - Robert Half Finance & Accounting

Psst…Did you hear the news about gossip in the workplace?

According to a survey by Robert Half International, 84 percent of executives said it’s common for employees to engage in office gossip, and nearly two-thirds (63 percent) said it has a negative impact.

Indeed, rampant rumormongering can damage your team’s morale and productivity by stoking unfounded anxiety, creating confusion and stirring up friction. Following are tips on managing gossip:

Share information as quickly as you can. Frequently providing clear and candid communication is the best way to keep gossip in check. Don’t drag your feet when it comes to sharing relevant news with your accounting staff. Remember: When changes are clearly afoot and you don’t offer any insights, the office grapevine will fill the void with speculation. (Also, be mindful that employees can develop wild imaginations when they feel shut out.)

Stay in regular contact. Maintain an open-door policy, but also be proactive and check in with your team members from time to time. Casual chats allow you to get a handle on office undercurrents and find out how people are feeling and what they are worried about.
Don’t let one bad apple spoil the bunch. If there’s an individual employee who continually creates problems by spreading misinformation, don’t shy away from addressing the issue with the person one-on-one. And be quick to publicly correct potentially damaging half-truths by providing accurate and up-to-date clarifications.

Keep your cool. The higher you are in the organizational hierarchy, the more likely you are to be an occasional topic of discussion. So, as a manager, you’re bound to be the subject of some watercooler chatter. Hearing of these kinds of comments can be a two-edged sword. On the one hand, you can set the record straight on comments made about you personally when you absolutely need to, but it’s generally best to remain calm, cool and collected, while doing your best to develop a tough skin. That said, if you pick up criticisms of your management style that could be constructive, consider them as valuable input for improving your approaches or policies.
Lead by example. Practice what you preach. Don’t speak in hushed tones or criticize the decisions of those above you. In short, don’t say anything about people that you wouldn’t say in front of them.

For more advice on management and career issues, listen to The Management Minute, Robert Half’s podcast series at www.rhi.com/podcast.

How to Strengthen Your Talent Bench in any Economy

How to Strengthen Your Talent Bench in any Economy

As tough as this economic environment may be, it also presents opportunities for prudent yet forward-looking companies. Layoffs and hiring freezes have put many top-notch people out of work, which means this can be an opportune time to acquire highly skilled performers who would be harder to recruit — or unavailable — in sunnier times.

Still, this doesn’t mean the best professionals are easy to find. Despite high unemployment rates across the United States and an expanded pool of available talent, employers interviewed for the Robert Half International and CareerBuilder.com 2009 Employment Dynamics and Growth Expectations (EDGE) Report said that, on average, 44 percent of resumes they receive are from unqualified candidates. If your company would like to pursue this unique opportunity to strengthen its talent bench, consider these cost-effective strategies for locating the best accounting professionals in the job market:

Use in-house connections. Even with tight budgets, it’s smart to continue (or start) offering employee referral bonuses. These high-reward, relatively low-cost programs give team members strong incentive to be on the lookout for candidates who’ll fit in well at your firm. Ask employees to keep their eyes and ears peeled for talented friends, business associates and former classmates who are now available.
Keep in contact. The grass isn’t always greener on the other side. That’s why it pays to stay in touch with team members who’ve left your firm. There are many benefits to rehiring strong performers. “Boomerang employees” have a proven track record and possess invaluable insight into your company. This knowledge minimizes training expenses and ramp-up time, enabling them to make significant contributions quickly.

Connect with a staffing specialist. According to the EDGE Report, it can take up to 14 weeks to fill an open position. Recruiters specializing in the accounting field can shorten that timeline by tapping into their well-cultivated networks. An experienced and reputable staffing firm also can help you by conducting initial interviews, skills evaluations and reference checks.

Finally, go on re-recruiting missions. While you’re strengthening your talent bench, don’t forget the talent you already have. Your best and brightest are in demand in any economy. Be proactive and sell your stars on their employment with your firm before you lose them to competitors. Ask about their career aspirations and consistently direct them toward opportunities or programs that will help them reach their objectives. Frequently offer gratitude for standout work and present them with a clear vision of their bright future with your organization.

To download the EDGE Report, please visit www.rhi.com/EDGEReport2009.

Founded in 1948, Robert Half Finance & Accounting is the world's first and largest specialized financial recruitment service. The company has more than 360 offices worldwide and offers online job search services at www.roberthalffinance.com.

Management Mistakes to Avoid in an Uncertain Economy

Management Mistakes to Avoid in an Uncertain Economy

While the current economic downturn is in many ways unprecedented in its scope and severity, accounting leaders can still learn from missteps other managers have made in previous recessions. Robert Half International’s recently released guide The 30 Most Common Mistakes Managers Make in an Uncertain Economy discusses a number of problematic pitfalls to avoid.

Here are three of them:

Thinking your team can’t handle the truth. Frequent communication with employees is always integral to success. But providing clear, candid and timely information is especially critical during hard times for businesses. Tell your team as much as you can as soon as you can. It’s when workers feel blindsided by announcements of layoffs, salary freezes, pay cuts, mergers and other changes that trust and motivation plummet. Provide a big-picture overview of your firm’s situation. Is the company restructuring to save jobs? Will priorities shift significantly? How did the firm survive previous downturns? Describe what, if any, changes are on the horizon, and how employees will be affected. Encourage questions and let your staff know you’ll keep them in the loop.

Cutting training programs. Though they are often among the first areas to be cut, consider the ramifications carefully before slashing professional-development budgets. Skimping on employee educational programs can dull your competitive edge, and undermine your recruitment and retention efforts. The key is to recognize that there are myriad ways to support the professional growth and education of your team. Mentoring programs, e-learning and in-house training sessions are just a few cost-effective options.

Feeling that employees are lucky just to have a job. This assumption is based on a belief that when the economy is weak, people wouldn’t dare consider leaving. As a result of this thinking, some managers figure they can let their retention efforts slip. The truth is, while workers may be happy and appreciative to have stable positions, you can’t afford to take them for granted. Talented accounting professionals are marketable in any business climate. If you want your top performers to stay with your firm over the long term, continue to offer whatever incentives you can and frequently recognize them for their outstanding contributions.

Submitted by Robert Half Finance & Accounting. Founded in 1948, Robert Half Finance & Accounting, a division of Robert Half International Inc., is the world's first and largest specialized financial recruiting service. Robert Half Finance & Accounting is headquartered in Menlo Park, CA, and has more than 360 locations worldwide.

To order The 30 Most Common Mistakes Managers Make in an Uncertain Economy, please visit www.rhi.com/30Mistakes.

How to Choose Between Two Equally Qualified Candidates

How to Choose Between Two Equally Qualified Candidates
You posted a job opening and received countless applications. You diligently reviewed a towering pile of resumes, went through the time-consuming task of interviewing the most promising individuals and narrowed the field down to two exceptional accounting professionals.

The problem? You can’t decide whom to choose because both candidates meet your criteria and possess similar experience. While it’s an enviable staffing-related problem to have, particularly during a recession, the situation still makes for a difficult hiring decision. Following are tips to consider and additional questions to ask to help you identify the person who’s truly best suited for the job:

Look beneath the surface. Ask both candidates back for follow-up interviews so you can dig deeper. Engage them in conversations that provide more insight into their personalities, workstyles and critical-thinking skills. Consider asking open-ended questions such as, “Describe a politically sensitive situation in your former workplace and how you resolved the problem,” or “What was your biggest professional setback and how did you handle it?” Frequently, what distinguishes outstanding employees is the ability to solve dilemmas and learn from their mistakes.

Put a spotlight on people skills. In today’s challenging economic environment, any new hire should possess strong technical skills and a bottom-line focus. But because so much business today is founded on collaboration, it’s also wise to focus on less-tangible qualities such as interpersonal abilities. Try to identify the person who possesses the stronger team-building and communication skills. Helpful questions might include: “Tell me about a time when you successfully sold a bold new idea to management,” or “Describe a project involving multiple departments and how you coordinated everyone’s efforts to achieve the same goal.”

Closely examine their excitement level. Which person displays more enthusiasm about the job opportunity and passion for the accounting field? Upbeat applicants who demonstrate eagerness to learn, grow and tackle new challenges will likely bring the same initiative and positive attitude to their jobs. Ask questions such as, “How do you keep your skills current?” to gauge the candidate’s career ambitions and commitment to professional development.

For more advice on management and career issues, listen to The Management Minute, Robert Half’s podcast series at www.rhi.com/podcast.

Submitted by Robert Half Finance & Accounting. Founded in 1948, Robert Half Finance & Accounting, a division of Robert Half International Inc., is the world's first and largest specialized financial recruiting service. The company has more than 360 offices worldwide and offers online job search services at www.roberthalffinance.com.

Staffing Challenges in Uncertain Times

The Benefits of Flexible Staffing

The economic downturn has created a shortage of many things, but staffing challenges aren’t one of them. Today’s uncertain business environment means accounting and finance managers need to be thoughtful about every personnel decision they make. Hiring the wrong people or hastily cutting staff levels too deeply can jeopardize quality and service levels, leaving clients disappointed when you need them the most.
One way to ensure that your workforce size remains in line with customer demand is to augment your full-time team with well-chosen interim professionals. Temporary staff can help you address unforeseen workload fluctuations by providing assistance on time-sensitive projects that demand immediate attention. Moreover, adopting a flexible staffing strategy enables you to easily expand or contract personnel levels with minimal disruption as business ebbs and flows. Here are some additional advantages of flexible staffing:

You’ll save money. You’ll turn some of your fixed costs into variable expenses by paying only for the human resources you need when they’re truly needed, not year-round. You can minimize overtime expenses and lower the high costs associated with hiring, training and keeping employees on board.

You’ll save time. Whether you’re hiring for a full-time role or a mission-targeted temporary position, staffing firms can offer valuable assistance. Firms that specialize in accounting and finance staffing are experts on your local market, and they can save you time and resources in your search. Remember that it’s not the hourly rate of the assignment that matters most but the overall cost of the project. Businesses can save money in the long run using a first-rate staffing firm because a higher quality candidate will finish the job more quickly and with greater accuracy.

You’ll keep burnout at bay. Most companies today are having to ask staff to do more with less. But if employees are stretched too thin for too long, you’ll notice a drop in morale, productivity, innovation and overall work quality. Bringing in temporary professionals to tackle highly specialized assignments or day-to-day responsibilities helps take the burden off your staff, freeing them up to focus on the most pivotal projects. As a result, you’ll bolster retention of your core employees – especially important in preparing for when conditions begin to improve and your best people may be tempted by other opportunities.

For more advice on management and career issues, listen to The Management Minute, Robert Half’s podcast series at www.rhi.com/podcast.

Submitted by Accountemps. Accountemps is the world’s first and largest temporary staffing service specializing in the placement of accounting, finance and bookkeeping professionals. The company has more than 360 offices nationwide and offers online job search services at www.accountemps.com.

Teleconference Meeting - Tips

Teleconference Meeting Tips -
Kimberly Shark, Robert Half Finance & Accounting

The use of teleconferences is increasing as companies tighten travel budgets. When moderated effectively, teleconferences enable geographically dispersed professionals to quickly touch base to share information and make important decisions. But poorly planned and unstructured conference calls waste valuable time. Following are tips on managing these meetings:

Plan ahead. After deciding which individuals truly need to be in on the call, send participants an e-mail noting the date and time of the meeting. (Be sure to include the time zone.) It’s also wise to mention the topics to be covered, the desired outcome and the expected duration of the meeting. If you’re using a dial-in option, remember to provide number and the access code.

Play the name game. At the outset of the teleconference, conduct a roll call by asking participants to introduce themselves. To minimize confusion later on, remind people to identify themselves each time they comment.
Focus, focus, focus. It’s the moderator’s job to keep participants on track. Tactfully redirect the discussion if tangential banter, crosstalk or a long-winded accounting colleague is overtaking the meeting.

Offer verbal cues. Unless you’re using videoconferencing equipment, people can’t see your expressions and body language. While nodding and smiling are effective in face-to-face meetings, teleconferences require you to make your voice heard. A simple, “Yes, I understand” or “I see your point” can go a long way toward aiding the flow of the conversation.

Beware of background noise. Whether you’re facilitating the conference call or not, display good etiquette by resisting the urge to multitask. In short, don’t peck on your keyboard, shuffle papers or eat a snack during the meeting. While teleconferencing technology has made advances in allowing participants to better hear and be heard, these seemingly innocent activities are magnified by teleconferencing equipment.

Watch the clock. Respect people’s time by adhering to your original schedule. If it’s approaching the ending time and there’s still ground to cover, set aside the last few minutes to schedule a follow-up meeting.

Submitted by Robert Half Finance & Accounting. Founded in 1948, Robert Half Finance & Accounting, a division of Robert Half International Inc., is the world's first and largest specialized financial recruiting service. Robert Half Finance & Accounting is headquartered in Menlo Park, CA, and has more than 360 staffing locations in North America, South America, Europe and the Asia-Pacific region.

Succession Planning - Kim Shark, Robert Half Finance & Accounting

Successful Succession Planning
“Planning is bringing the future into the present so that you can do something about it now.”
— Alan Lakein, author

If you’re one of the many baby-boom-age accounting and finance managers planning to retire in the next few years, have you thought about developing a succession plan? Surprisingly, few financial leaders have taken this prudent step. A majority (83 percent) of chief financial officers polled in a recent Robert Half International survey say they have not identified a successor for their positions.

Succession planning might seem like a low-priority endeavor during tough economic cycles, but it’s critical to prepare for contingencies — and protect your organization’s future — now. By training a protégé to fill your shoes, you’ll ensure a smooth transition and provide much-needed stability to your department during times of change. Here are some succession-planning tips:

Know what you’re looking for. The first step is to identify and prioritize the professional and personal qualities you consider most essential for success in your role. Your goal should be to identify a promising up-and-coming employee who has the potential to hone the full range of skills and abilities necessary to perform your job.

Offer exposure. Once you’ve identified your would-be successor, introduce him or her to situations and assignments common in your position. No matter how talented and sophisticated the protégé, professional development in advance of assuming the new role is key. For instance, you might boost the person’s visibility by encouraging him or her to tackle some high-profile responsibilities, such as reengineering an important business process or giving presentations to the company’s board or an important client.

Embrace mentorship. As your protégé wrestles with real-world management challenges, provide plenty of behind-the-scenes coaching and feedback. And be sure to facilitate the transfer of not just nuts-and-bolts insights for performing certain tasks and managing projects, but also the less-tangible institutional and “insider” knowledge you’ve acquired over time. Set regular dates to assess your protégé’s progress and offer your support as he or she gains the confidence and expertise necessary to lead the department or organization.

For more advice on management and career issues, listen to The Management Minute, Robert Half’s podcast series at www.rhi.com/podcasts. Submitted by Robert Half Finance & Accounting. Robert Half Finance & Accounting, a division of Robert Half International Inc., is the world's first and largest specialized financial recruiting service. The company has more than 360 offices worldwide and offers online job search services at www.roberthalffinance.com .