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​In Pursuit of Profit

Read our expert article below or sign up to get articles sent to your inbox.​

11/28/2022

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How to Manage High Performers – Lessons from Two Legendary Russells

 
We have written many articles on the topic of how to hire an accounting employee for your team, from the staff accountant to the CFO. And everyone who reads this knows that over the past few years hiring in accounting has been a real challenge, and that challenge is not going away.
how to manage high performers
A businessperson holding a trophy
But are you really prepared for the time you are able to hire a top performer on your accounting team?

Are you thinking hiring that great performer will take care of all your issues? I want to share some thoughts, so you realize that hiring a star does not really solve the issues you have. My goal in sharing this insight is to help you prepare yourself and the company before you hire the great addition to your accounting team so that you can make the most of this kind of hire. 

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11/22/2022

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How is Compensation Changing in Washington State for 2023?

 
Inflation and wage growth have far exceeded any period in recent memory, but Washington’s new compensation laws are newsworthy on their own. As the end of the year approaches, it’s important for Washington State employers to know about laws changing on January 1, 2023.
Picture
​The Seal of the State of Washington overlaid on a map of Washington
​Find out what you need to know about how Washington compensation laws are changing next year:

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11/18/2022

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How to Fix Payroll Problems

 
Payroll problems are the type of issue that every company hates because they typically take a lot of time to identify and resolve and the employees that are affected are typically not very forgiving when the error requires payroll adjustments to correct. Additionally, in the case of public companies, payroll problems can quickly become big news, casting the brand in a negative light internally as well as externally. 
how to fix payroll problems
A businessperson in frustration looking at the word “Payroll” surrounded by related icons
The considerable time required to fix payroll mistakes is a significant penalty for any company to pay when an error occurs. Then, when you figure in the added cost of reduced employee satisfaction, which in turn can lead to turnover or hamper future hiring efforts, the cost of experiencing payroll problems becomes even steeper.  

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11/11/2022

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What is a Good Cash Conversion Cycle?

 
Your Cash Conversion Cycle (CCC) is a measure of the number of days it takes your business to convert its inventory into cash flows from sales. It is an important metric to measure because the length of the CCC (sometimes called “net operating cycle” or just “cash cycle”) is the time when your cash inputs are tied up before they are converted into sales.
What is a Good Cash Conversion Cycle
A note that reads Cash Conversion Cycle on top of a calculator and a stack of hundred dollar bills
​So, what is a good cash conversion cycle?

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11/7/2022

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recruiting Market Report - November edition

 
Find out what we are hearing from candidates and clients and get our predictions for the future of the hiring market in the November edition of The ASP Team Market Report:
Quinn Finnigan
​Quinn Finnigan, Partner - Recruiting Services

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11/2/2022

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Stop Trying to Hire Your Unicorn Candidate! How to Hire Smarter in Accounting and Finance

 
We hear it all the time now: “It’s impossible to find a good accountant these days!” But it doesn’t just end there. You can replace “accountant” with accounting manager, controller, finance analyst, or finance manager. Hiring in accounting and finance is extremely difficult right now at all levels! That is a well-known fact these days. 
how to hire smarter in accounting and finance
A nametag that reads “Hello I’m a Unicorn” on a blue collared shirt
Why? Well, it is an irrefutable fact that there was a drop in the number of accounting degrees being obtained between 1998 and 2008, which caused a ripple that is still being felt across many organizations. On top of that, the Great Resignation made finding senior-level accounting and finance professionals more difficult because of the surge in career changes and retirements.

But what is more controversial is the possibility that employers themselves may be to blame for the tight hiring market in accounting and finance. Yes, we said it. Those of you in search of a unicorn candidate may be partially to blame for the sentiment that there is no one qualified enough for the role you are looking to fill. Let us explain…

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