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​In Pursuit of Profit

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3/18/2024

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How to Hire an Accountant During the Transfer Portal Window

 
the-playbook-for-how-to-hire-an-accountant
For those familiar with college athletics, March is known for the Division I college basketball championships.  You may not, however, know how a few years ago the NCAA allowed student-athletes to change schools with no loss of eligibility by creating the “Transfer Portal.” When an athlete declares that they want to leave for another school, their name gets put in the Transfer Portal database. Voila, other coaches see this and say, “I want that center” or “I want that point guard” and reach out to them.

What does this have to do with hiring accounting professionals?
​
Well, the transfer portal concept is not just for college athletes. There’s also a career transfer portal – it’s what happens out there in the world of recruiting. Using an external recruiter is the best way to ensure you are accessing accounting employees that are in the transfer portal.


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2/2/2024

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Get Ready for an Uptick in Resignations

 
​It’s the start of the year, which typically ushers in resignation season in accounting. We see it time and time again! Accountants that are looking for greener pastures get their year-end bonuses and decide in February/March to leave the position they’re not happy with to look for a new role pre-tax season. 
Picture
An accountant resigns at the start of the year.
So, what can you do to prepare yourself for the wave of turnover that may be coming?
​
When they hear about this trend most employers will go into “fix it” mode and ask what they can do to keep their accountants from bolting soon. Unfortunately, at this point there’s probably very little that can be done to keep them long-term. If the year-end bonus they just got wasn’t enough persuasion, any sort of incentive you throw at them is likely just going to delay the inevitable. (Plus, the quality of work they do and passion they bring to the role is only going to suffer further if they already have one foot out the door.) Instead, your best bet is to get ready for what’s coming next. Take the steps now to be prepared in case your accountant leaves so that you’re not scrambling during tax season to find and onboard someone new. 

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1/16/2024

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What Do Salary Ranges Actually Mean?

 
​The idea behind posting salary ranges for open roles is a good one… in theory. However, in actuality, the practice leaves a whole lot to be desired. 
what-do-salary-ranges-actually-mean
Salary ranges in accounting and finance.
Companies that post salary ranges may choose to do so voluntarily, in the name of equity and transparency, or be required to do so by law. The idea is that by sharing salary bands job applicants are given a range of earnings to expect, eliminating the disparity that can occur when some groups of candidates are less likely to negotiate for a higher salary. Salary ranges should promote fairness and ensure employees are compensated appropriately for the value they bring to their employer.

So, why are employers and job seekers alike in an uproar about salary ranges? Let’s look at what has gone wrong and how both employers and job seekers can respond to position themselves well in today’s job market. 

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12/29/2023

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How Recruiters Find the Right Culture Fit

 
Hiring is one of the most important and challenging obstacles that employers face today. As a long-time recruiter I would like to share a few important criteria I consider when I am evaluating a candidate’s potential fit for my client. 
how-recruiters-hire-a-culture-fit
​Finding a cultural fit match in hiring.
​Of course, you need to find the right technical skills, industry relevancy and appropriate experience level or education. But there are soft skills to consider too, such as communication, creativity, emotional intelligence, maturity in their experience, and career goals. These soft skills are every bit as important because they can play a critical role in a potential employee’s ability to succeed.

Research increasingly shows that hiring people for “cultural fit” (seeking out individuals who align with your company’s unique culture and values) is an essential part of effective strategic hiring. My own recruiting experience backs this premise. Over my 45 years in the recruiting industry, I’ve found that the most important factor in hiring isn’t technical skills. 

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11/28/2023

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Why Should You Hire an Accounting Recruiter?

 
Why pay someone to hire for you when you can just do it on your own? Are recruiters really worth their fees?
​
As accounting and finance recruiters, we hear these types of questions every day among prospective clients as well as the public. 
hire-accounting-recruiter
Concept: an accounting recruiter selecting the right accounting candidate.
There is skepticism around whether special skills are required to recruit well, how much experience plays a part in the process, and if the benefit justifies the cost. ​

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10/23/2023

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Navigating the Talent Shortage in Accounting

 
It’s no secret that there are fewer accountants these days, but what is less obvious from the outside is what kind of an impact this is having on accounting work as we know it. Time and again my colleagues and I are seeing the accounting talent shortage have real implications on the industry.
navigating-the-accounting-talent-shortage
An empty workstation with a spotlight on it – shedding light on the talent shortage.
​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. 

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10/12/2023

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How to Evaluate and Convey your Salary Expectations to Get the Money You Want!

 
Money. Compensation. Salary and benefits. Whatever you call it – it’s one of the main reasons why we all work. For some, it is the top motivator. For others, it is further down the list. But there’s no denying it’s a hugely important part of deciding whether to accept an offer. So then, why don’t we discuss it more when looking for a job? 
how-to-evaluate-and-convey-your-salary-expectations
​A sign that reads, “What are your salary requirements?” next to a pile of cash.
​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?

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7/10/2023

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Do Accounting Job Titles Matter?

 
About 30 years ago I started to get more involved in HR work, which is typical when you are a small company finance leader. (A small to mid-sized company often does not have an HR employee so the HR compliance and management tasks fall to the accounting leader, Controller or CFO.) 
Do-Accounting-Job-Titles-Matter
A person doing a job search on a laptop.
I discovered many parts of the HR world matched my interests, so I wanted to be a finance leader who had some real HR knowledge. I pursued an SPHR (Senior Professional in Human Resources) designation, which required studying materials and taking an exam. As time passed, I realized recruiting was the part of HR I really liked because I am a lifetime connector. Fast forward to today and I have spent most of the past 20 years as a recruiter.
​
One topic that is a continual area of consternation within the recruiting world is job titles. Job seekers and hiring companies alike struggle with accounting and finance job titles. I’ll tell you why and what you can do about it when looking for or posting an accounting job:

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6/2/2023

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Accounting Recruiting Advice: Rethink Your Hiring Expectations

 
The Rolling Stones famously sang, “You can’t always get what you want” and if recruiters are being honest, they will tell you that famous line is applicable in today’s accounting/finance hiring market. But that’s not all. Music fans will remember that the rest of the lyric is, “But if you try sometimes, you just might find you get what you need.” And again, this fits well with the current hiring landscape. 
Accounting Recruiting Advice: Rethink Your Hiring Expectations
A businessperson rethinking an idea.
Employers need to realize that they may not find an accountant that checks every one of their “nice-to-have” boxes, but if they work with an experienced accounting recruiter, they will find someone that fits their “must-have” needs. And, the sooner they can figure this out, the better because having an open role costs an average of $98/day, and rehiring an accounting employee after letting go of a bad hire costs over $50,000 on average! Therefore, to minimize hiring costs employers need to rethink their expectations around work flexibility, compensation, accounting improvements, and training when looking to fill a role.

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5/15/2023

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10 Things the Best Accounting Recruiters Will Tell You

 
​When you need someone to help you hire an accountant, how will you find the right recruiting company?
​
Recruiters that specialize in accounting and finance are a great place to start. 
10-Things-the-Best-Accounting-Recruiters-Will-Tell-You
Job search candidates.
Using a company with a niche financial recruiting focus ensures that they will understand the specifics of what you are looking for and have a pipeline of qualified job seekers to tap into. Furthermore, accounting and finance recruiters are more likely to have access to the right kind of connections to approach candidates that are not necessarily actively looking for a new role but would be open to the possibility of making a change.

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