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benefits

Benefits That Top Applicants Want

You and your business competition are acutely aware of today’s competitive job market. There are more available positions for accounting and finance professionals than there are qualified applicants. This factor makes it imperative to find and keep high performing employees. And a healthy benefits package will help ensure that you attract and keep the best and brightest talent.

Stay Up to Date with Benefit Trends

Although more companies are considering a number of work/life balance benefits, information as we head toward 2020, looks quite traditional.  A recent MetLife study reveals that 81% of employees indicate that health insurance is a “must-have.”

This same study also reports an increase in employees who believe their employers have a responsibility toward their “health and well-being.”  This study further notes the value employees place on retirement plans and paid time off.

Recruit Benefit Providers Too!

Knowing this information, it is time to assess your current benefits as you plan for the future. One step toward assuring your options will attract and retain talent is to offer the best plans. That is, those with the best cost-benefit ratios for your business and employees. One approach is for your HR department or benefits administrator to engage in active recruitment of benefit providers.

Whether the benefits administration is done in-house or outsourced, you will want to:

  • Assure that employee satisfaction rates related to benefits are collected and reported to leadership.
  • Learn about usage rates and anticipated changes for the coming year.
  • Anticipate potential changes related to state and federal mandates.

Back to Benefits for Recruitment and Retention

Having the best benefits available for your employees is one step toward recruitment and retention. The next is to assure that employees, customers, and the general public know about your commitment. After all, the health and well-being of your staff influence that of the community. This information in itself will bring top performers to your door!

Are you looking to fill an accounting and finance position at your company?  Click here to find out how Beacon Resources can help you find the right candidate.

 

big data expert

Adding a Big Data Expert to Your Finance Team

Advances in technology are expanding the amount of data available to businesses. Although software systems are keeping pace with the demand for increased analytics, the same cannot be said for available human know-how. Simply put, a good big data expert is a valuable commodity.

A Big Data Expert Adds New Dimensions to a Finance Team

Companies are seeking financial expertise that moves them into the future while assuring stability. Big data analytics skills are in high demand because of the ability to forecast trends that may otherwise go unnoticed.

Multiple sectors, from entertainment and healthcare, to manufacturing and beyond, benefit from big data insights. Being able to merge business-specific knowledge with big data analytics capacity will make your finance team shine once it has this talent.

Hire from the Outside or Build from Within

High demand for big data experts creates the inevitable competition situation. Finance teams with the most attractive salary/benefit packages and work environments win out. Those who are building their capacity and client base are left to explore other avenues. Building your team’s big data skills from within has multiple advantages.

  • Investing in engaged employees generates further commitment. As specific team members take on this new role, others can advance, increasing team capacity.
  • Your finance team already knows the business’s client base and internal systems. Training from within limits disruption while adding strength.

Select and Prepare Team Members for Big Data Duty

Begin today to propel your finance team to be the next wave of big data experts. You already know the skills and potential of each of your employees. Recruit those who:

  • Think critically and strategically. Their objectivity and forecasting savvy mean they can clearly see patterns others miss.
  • Have high level technical skills and can advance the team’s IT functions to keep pace with emerging information.
  • Communicate well with the ability to explain complex information to other team members and departments.

Prepare your emerging big data expert(s) by:

  • Hiring a big data consultant to mentor your team members.
  • Funding continuing professional education (CPE) for training.
  • Upgrading your information system to keep up with your team!

 

Employers, click here, to find out how Beacon Resources can help you find the right professional for your finance team.

 

 

 

 

 

 

hiring employees

Tips for Hiring Employees

One of the most important parts of running a successful business is hiring employees. A bad hiring decision can hurt your efficiency and profits. By arming yourself with the following considerations, your hunt for your next great employee will run much smoother.

Hiring Employees for Personality and Skills

Both personality and skills should be considerations when hiring employees. Asking tactical questions during a job interview increases the chances of hiring employees with the right skill sets and the ability to use those skills successfully.

Consider the following tactical questions during your next interview:

  1. How will your skill set help you be successful in this position?
  2. Give some examples of your previous successes in a similar position.
  3. What is your preferred software?

Personality should also be a factor when hiring employees. Culture fit can make or break an employee’s morale, as well as affect their ability and willingness to perform to their maximum potential.  Characteristics to look for are a good sense of self-assessment, knowing their strength and weaknesses, and a dedication to development.

Hiring Mistakes

A common mistake is not clearly defining the responsibilities of the job. This can create confusion, causing stress and an inefficient hiring process. Taking time to truly assess your needs and the personality type you envision in the position is imperative to making a good hiring decision.

Know What You’re Looking For

Ultimately, the most efficient way to hire the right employees is to be clear about your needs and wants. As stated above, spending time to clearly define your job description will lay the foundation for a more efficient hiring process.

Begin with an in-depth look at how you want your business to grow and the types of roles required to meet your goals.

Once you’ve done that, begin thinking about the type of employee you envision for that role — the characteristics that would make a candidate ideal for the position.

While it is good to know what kind of personality you are looking for, avoid having a closed mind. Being open-minded will allow the hiring process to run smoother and will lower frustrations. Keep in mind that the perfect person does not exist, but the best one for you is out there. They may not be exactly what you envisioned but they can still get you where you need to go.

Hiring employees is one of the biggest steps towards growing your business. Consequently, it is imperative to do your due diligence. Strategy is an important part of the hiring process. Avoiding common mistakes and having a clear picture of what you need for the role will help you make the right decision.

 

Employers, your perfect accounting and finance professional awaits!  Click here to learn about Beacon Resources’ available candidates.

jobs report

April 2019 Jobs Report: Unemployment Lowest in 50 Years

According to the BLS Jobs Report and national news sources the April 2019 unemployment rate was at it’s lowest in 50 years. The economy added almost 263,000 jobs, bringing unemployment down to 3.6%, exceeding analyst predictions.

As the jobs report states, the some of the largest employment gains since April of 2018 are in professional and business services. On the losses side were electronics, department stores and commercial banking.

Recognize What the Jobs Report Figures Mean for Employers

As reported by the BLS Jobs Report, there are now more jobs open with fewer available job seekers. Employers are competing in a market where the best and brightest job candidates quickly find desired positions. Ask yourself these questions:

  • Will new college graduates bring any value-added skills and qualities to your organization?
  • Is my business willing to be flexible regarding job requirements that new grads may not have yet attained?
  • Are your recruiting and hiring methods keeping pace with the expectations of today’s job candidates?

Add Up the Benefits of Hiring New Grads

There’s now a fresh batch of well-educated college graduates looking forward to embarking on their careers.

  • They bring enthusiasm and motivation to all work sectors.
  • They are interested in learning, tech savvy, and attuned to high-pace settings.
  • As a whole, they are creative, often thriving on group-think focus for problem-solving.
  • They are ‘quick studies,’ able to grasp new material and add fresh perspectives to the work at hand.
  • They are rather new to professional workplace settings, requiring little ‘retraining’ time to adapt to your organization’s culture and methods.

Review Organizational Recruiting and Hiring Policies

Assess your organization’s recruiting tools and practices to assure you are keeping pace with employee interests. Revise if needed as the new batch of college graduates will be attracted to the positions you have when they:

  • Learn that your organization is innovative, encouraging employee ideas and engagement.
  • Hear about the projected growth of your business, with the potential for internal advancement.
  • Realize that you offer a range of benefits and perks that include work flexibility, continuing education, and a positive work/life balance.
  • Become aware of the transparency and mutual respect embedded in your company’s culture.

Hiring Mangers, to ensure that the salary you are offering is competitive, download the 2019 DLC Group Salary Guide for compensation data on the top accounting and financial positions.

Click here to find out how Beacon Resources can make your hiring process easier.

onboarding questions

Onboarding Questions to Ask New Employees

How the onboarding of a new hire is handled is critical to their success. The quicker a new-hire can get up-to-speed and feel comfortable, the faster they can make meaningful contributions to the company’s growth.  Savvy managers take stress reducing steps to learn about each new employee’s motivations, aspirations, and sensitive areas.  Managers should be asking key onboarding questions to find out how they can improve their new hire’s integration into the company.

To ensure that your employee onboarding process is as engaging as possible, consider the following steps:

Timing for Asking Onboarding Questions

Well timed questions assure an employee is off to a good start. The employee feels secure, realizing that you are interested in their success. Being present with observations and questions aids with gaining trust. That trust in turn means they feel comfortable coming to you for information as needed. To assure right-timing:

  • Check in on the first day and during the orientation phase to assure onboarding expectations are being met.
  • Be present and alert for signs of the need to touch base, such as:
    • The new employee appears doubtful or moody
    • Tardiness or absenteeism
    • Stepping beyond the assigned role

Onboarding Questions to Ask During the First Few Weeks

  • Do you have any questions about the documents and time you spent with human resources?
  • Do you need any job description clarification?
  • What is your initial impression of what it is like to work here?
  • How can I best support you in the coming weeks?
  • How can the company help you become more successful in your position?
  • What is going well? What are the highlights of your experiences so far? Why
  • Do you have sufficient time to get your work done?
  • Is there anything you don’t understand about your job and/or the company?

Conversation that Goes Beyond Questions

Even well framed questions do not always result in the depth of information needed to fully support a new employee. Conversations can reap useful information. And often lead to meaningful inquiry.

  • “Tell me about your first few weeks here. I want to hear your impressions, good and otherwise.” Responses to this opening lead to questions unique to the new employee’s experience.
  • Let’s meet tomorrow—it would help to hear about your experience thus far.
  • We welcome two-way feedback. I want to hear suggestions you have for me, and how you like to have feedback shared with you.

 

 

Click here for more tips about Creating a Successful New Hire Orientation