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employer branding

Importance of Employer Branding

Low unemployment along with an up-tick in retirees is resulting in increased competition for top talent.  With that in mind, employers that are attracting and maintaining the best talent have made employer branding their top game plan.  Employer brand includes the perception of your organization as an employer and also describes your value proposition to employees in exchange for their experience and skills.    When done well, employer branding can spark positive buzz about a company, attracting top talent and happy employees.  Creating a good employer brand is about storytelling. It’s about how your company is perceived in the marketplace.  In this age of social media and user-generated feedback,  your employees are your loudest promoters, bad or good.  So, be good to them.

Review Online Profile Effects

According to recent surveys of candidate experience,  company brand is indeed affected by online feedback from candidates and current employees. Consider the effects of findings on your business:

  • 95% of candidates consider the employer’s reputation as a key factor when considering a new position.
  • Employers with strong brands average 28% less turnover.
  • To compensate for a negative employer brand, companies often need to offer a 10% pay increase to attract top job applicants.
  • Job applicants consider current and past employees as the “most trusted source” about an organization.

Take a Detailed Look at Your Company’s Feedback

Take a close look at your online profile to:

  • Read what job seekers and employees are reporting. Keep track of information while maintaining an open mind. Employers can make rating gains by responding to complaints with apologies and descriptions of quality improvements.
  • Evaluate how reviews are affecting consumer opinion. Are you currently tracking this data?

Begin an Improvement Process

The insights from your review of online feedback will likely lead to changes to make online and in-house. Address the top issues noted by job seekers and employees, such as:

  • A cumbersome application process with outdated skill assessments.
  • Limited opportunity for professional development and advancement.
  • The need to review HR resource allocation devoted to brand and profile.

Employer Branding Overview

Don’t leave your employer brand to chance.  Take the time to create an employer branding strategy that will streamline the development process and ensure everyone is working toward one common goal.

For more useful employer tips, check out Employee Onboarding Plan

 

 

 

 

Financial Controller

Is It Time To Hire a Financial Controller?

At the early stages of a business the controller and CFO roles can be somewhat interchangeable.  However, as a business expands, these roles need to be differentiated. If your business is growing, to the point that you know within months you’ll need to bring a financial controller on-board you should review controller functions and value to assure this is the best decision for your organization.

Gather Financial Controller Information

You count yourself fortunate as your once small company has grown.  However, now you find that your finance, accounting, and business decisions require an advanced skill set. With that in mind, your primary task should be to gather information about today’s controllers. Their assets, abilities, and prospective return on investment. A controller will:

  • Provide crucial financial decision-making, such as those associated with large purchases and credit worthiness policies.
  • Support work across departments by providing financial information that is readily understood and applies to various work functions.
  • Assure that accounting systems, reporting processes, and security protections are up to date while overseeing ongoing accounting operations.
  • The role requires several years of finance and accounting experience with a bachelor’s degree in that sector. Some businesses prefer to hire a controller with an MBA and/or one of several other certifications.

Assess Company Growth

It’s time to bring on a controller when:

  • Capital expenditures become your business norm.
  • Accounting functions and staff are growing to fulfill taxes, reporting requirements, and internal processes like inventory control.
  • Your business development planning lags because of time spent on accounting functions.
  • Business functions are more complex and compartmentalized. This requires a sophisticated level of accounting and leadership to assure integration and upgrading of IT systems.

Prepare for Business Controller Recruitment

Working with an accounting and finance recruiting firm can help expedite your hiring process.  Beacon Resources, for example, has highly skilled, pre-evaluated financial controllers with a wide variety of financial and accounting expertise to fit your needs.  Beacon Resources can help you avoid the potential cost of a bad hire, which can negatively impact your bottom line: the cost of a bad hire.  When a new hire doesn’t work out, it can undermine productivity and drag down employee morale. It can also lead to project delays that may have hinged on the new hire being part of the team. Click here, to get started with one of our financial and accounting executive recruiters.

 

 

 

employee career growth

Supporting Employee Career Growth

Supporting employee career growth in regards to skill advancement and career development benefits your business by boosting engagement. Additionally, skill advancement is linked to improved business performance and success. A survey of over 2000 professional of varied levels in over 20 industries revealed that 73% of participants assessed a need to improve their skills. Here is how you can be part of the solution:

Show Interest in Employee Career Aspirations

Take time to meet with each employee to inquire about their career plans. It is a chance to get to know each person better, including their hopes to upgrade skills and work experiences. This step lets staff know you are interested in their professional futures. It also helps in planning for collective and individualized job training or continuing education benefits.

Encourage Work/Life Balance

Learning about employee career aspirations can touch on life plans. Your employees have family, friends, recreational interests, and avocational pursuits. It’s not necessary to know the particulars, though it is important to reinforce the benefit of life/work balance. Show staff you care by offering:

  • Flextime
  • Remote workdays
  • Worksite wellness options

Take Advantage of Cross-Training Strategies

Today’s cross-training is sophisticated, offering various strategies for upskilling staff. Equally important are the outcomes of improved collaboration, retention, and job satisfaction. Finance employees appreciate being able to improve their tech-savvy, interpersonal attributes, and management expertise. Rotate employees to gain experience and create mentoring opportunities. This results in cross-learning as staff from different departments share knowledge distinct to their roles.

This part of your work smart plan leads to:

  • Greater work capacity during intense times of the year like tax season.
  • Heightened internal capacity and longevity planning, encouraging retention of those with business history and high-level expertise.
  • A nimble workforce capable of quickly responding to expansion or external pressures.
  • Improved collaboration across departments due to a mutual appreciation for each other’s roles.

Keep Information Coming

Routinely inform your team regarding company plans, emerging trends in your sector, and the role of macroeconomic shifts in the industry. Staff will appreciate the respect this shows for them. And that is one more way to support employees.

Click here for more management tips.

 

finance experts growth

Grow Your Business with Finance Experts

Change and growth is part of every healthy business.  There is no rule dictating when you should hire new finance experts.  However, if you are not confident that your company is running at maximum efficiency, it could be time to expand your finance team by hiring a new finance expert.

Below is a selection of finance experts to compliment your business needs now, and in the years ahead.

Bookkeeper

If you are not sure what a bookkeeper does, then you’re probably wondering if you need one. Bookkeepers can either be entry level or full charge. Entry level bookkeepers generally perform basic tasks such as data entry of financial transactions and maintaining the chart of accounts.  Full charge bookkeepers have more responsibilities, however, even though they perform more complex tasks, their responsibilities are not usually as advanced as the responsibilities of an accountant. The bookkeeper will:

  • Maintain and track financial records.
  • Manage payroll, invoicing, basic finance reporting requirements.
  • Track sales and cash flow, monitor revenue and expense projections, and prepare budget reports.
  • Prepare business financial records for review and certification by accountants who work with the IRS as needed.

Accountant

It’s time to hire an accountant when finance tracking and reporting requirements exceed the bookkeeper role. The accountant you hire can oversee and expand the financial capacity of your business. The accountant provides you with:

  • Ledger, reconciliation, and periodic statement management.
  • Skills for managing international accounts as those develop.
  • The ability to identify tax break options and ways to contain costs.

Your accountant will maintain your financial systems through growth until it’s time to consider the need for a controller.

Controller

Prepare to hire a controller when your business requires complex financial systems and procedures to manage growth and financial regulations. The controller:

  • Works with the accounting manager on financial functions.
  • Provides long-term forecasting and financial planning.
  • Brokers credit lines and terms.

Chief Financial Officer (CFO)

This role serves your business by:

  • Managing all financial processes and procedures.
  • Guiding business development or necessary reorganization.
  • Identifying financial and business trends, forecasting potential growth targets.

An Accounting & Finance Staffing Firm Can Help.

An accounting and finance staffing agency like Beacon Resources knows the ins-and-outs of the financial candidate market.  Beacon Resources has a huge database of finance job seekers, including candidates who you won’t have access to by just checking the job boards.

Read our 2019 DLC Group Salary Guide to find out how much you can expect to pay finance experts, such as a bookkeeper, accounting manager, controller or CFO.