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.
Friday, June 12, 2009
Tuesday, March 31, 2009
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.
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.
Thursday, February 26, 2009
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.
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.
Tuesday, February 10, 2009
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.
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.
Wednesday, January 14, 2009
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 .
“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 .
Thursday, December 18, 2008
What Is The Carolinas Council?!?
The Carolinas Regional Council (later Carolinas Council) was founded in 1971 when there were nine local Chapters in the two Carolinas with approximately 2,000 members. Chartered in 1975, it was the first Council formed of the twenty-four within the National Association of Accountants (NAA) which we now know as the Institute of Management Accountants (IMA).
It is also one of the most active and successful Councils in the world, winning the Council Award of Excellence in numerous years. All IMA members and Chapters in the region are members of the Carolinas Council.
The Council’s purpose is to further the objectives of IMA and its members, to promote and facilitate cooperation and communication between Chapters and Councils, and to provide a means to pool resources and assist Chapters. Participation in the Carolinas Council also provides Chapter members an opportunity for national service.
The Council elects one of its members to represent its interests on the IMA National Board of Directors. It also selects members to serve on various IMA national committees. Currently, Wayne Ledbetter, of the Columbia Chapter, is Regional Vice President representing the Chapters and Council at the national level of IMA. Another Council member, also from the Columbia chapter, John M. Brausch, CMA, CFM, CPA is Chair Elect for the entire IMA organization! These “volunteer” endeavors take time and dedication and we appreciate the work of all of our volunteer leaders!
The Council also sponsors continuing education programs, including its signature Annual Spring Conference. The first conference was held in the fall of 1974 and was a rousing success. It has been held each spring since that time in beautiful Myrtle Beach, SC. This year’s conference will be April 30-May 2nd. This conference provides 16 hours of top notch, NASBA registered, continuing education and numerous networking opportunities, not to mention the sun and fun of the beach! There are also two other educational opportunities, one in the fall and one in the winter, sponsored by Chapters and the Council.
As an additional service to Chapters, the Council can sponsor CPE credits under its NASBA registry at qualifying Chapter hosted events. Under its Chapter Partnering Program, the Council may also loan seed money to Chapters to get a qualifying event off the ground and promote additional educational opportunities for the membership. The Council is also investing in a new website and on-line registration system that will provide integrated, easy to use, event management and reporting capabilities for Council and participating Chapter programs.
Kinsey Jenkins served IMA in many different areas during his 28 year membership. He has been a long-time volunteer leader in the Columbia Chapter and the Carolinas Council, and a professional leader in the IMA national organization. Whenever there were questions, the volunteer leaders in IMA worldwide always knew that they could depend on Kinsey Jenkins to provide answers. Kinsey understood the importance of Chapters and Councils and he dedicated his entire IMA career to serving their members.
It is appropriate that the Council recognize the volunteer service of its current and future leaders. To that end, IMA Carolinas Council presented the first annual Kinsey Jenkins Service Award at its fall meeting on October 26, 2007. Peggy Reeves of the Spartanburg Area Chapter was the inaugural recipient. On October 25th of this year, Ev Walker was recognized for his many years of service to IMA as the second recipient of the award.
Each IMA Chapter selects delegates to the Council but all IMA members are welcome and encouraged to attend Council Board meetings.
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