In Pursuit of Profit
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I’ve seen many clients struggle to find accounting help over the last two years across all employment levels – from bookkeeper all the way through CFO. I’ve seen new hires simply not show up for their first day without any notice. I’ve seen new employees resign less than a month after starting for other opportunities or just to leave a work culture they don’t like. Workforce expectations have shifted dramatically over the past five years and employers are struggling to fill open positions amid these changes. In fact, Manpower surveys indicate that 75% of employers report difficulty in finding skilled accounting talent.
However, you can’t guarantee that the process will go this well. Sure, you can communicate that you expect employees to bring this kind of tact to the transition, but you cannot control their timing or actions during the process (and sometimes neither can they depending on the circumstances involved!). Instead, you need to have a formal succession plan in place to safeguard the business against the kind of disruption that can happen when an accountant leaves unexpectedly.
The time to get ready is now! Plan for your accountant’s departure before you need to do it so you can be properly prepared.
I wager many of you have gone through this scenario: You find a job that sounds great and start the interview process. Before you know it, you’re multiple interview rounds in (possibly even to the offer stage) and then you find out that the compensation isn’t a fit. You’ve wasted your time, and the company has wasted theirs.
Scenarios like this are why it is imperative to get clear on compensation expectations and details early and often in a job seeking process to avoid wasting time. So, how should you think about money in your job search?
From our experience, clients seem to believe one of these perspectives wholeheartedly – there’s very little in between. And yet, neither is entirely right. On the one hand, if you never hear from your accountant, that’s a troubling sign because you can’t be sure what they’re even doing on behalf of your organization. This kind of communication gap removes accountability, creating the opportunity for underperformance, mistakes, and even fraud to occur. However, hearing from your accountant constantly means they are spending their time talking to you instead of doing the work you have hired them to do, which is problematic (not to mention wasteful). Neither is a desirable scenario! |
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10/31/2023