Archive for the ‘Recruiting’ Category

Monday, March 13th, 2017

Give Them A Weekend!

“I’m not driven by killer ambition. I’m not a workaholic. I’m a good team player. I don’t have to be captain, but I do want to play on a winning team.” – Jane Pauley

FullSizeRenderAs March 15th nears, every year, I think of all the people I know working inside growing, successful accounting firms.

They have been working tirelessly beginning more slowly in January picking up speed (and extra hours) throughout February and putting renewed effort leading up to the March 15th due date.

CPA firm leaders, please consider giving your entire staff a real weekend on March 18 and 19 – the first weekend after the March 15th due date.

We did this at my firm for years and it was greatly anticipated and appreciated by our people.

Now, the good news is that many accounting firms have eliminated Saturday work during tax season completely (except for those die-hard partners that always work weekends).

Your team will come back to work on Monday morning with renewed vigor to focus on the tasks ahead, leading up to April 18. Their families will also be very happy.

  • There is only one way to avoid criticism: do nothing, say nothing, and be nothing.
  • Aristotle

Friday, March 10th, 2017

Create An Inspired Workplace

“Great vision without great people is irrelevant.” – Jim Collins

Recently, Sharlyn Lauby, HR Bartender, posted a story about Kronos (a provider of human capital management cloud solutions) and how they have created an exceptional candidate and employee experience.

“Being a great place to work is quite literally one of a small number of high-priority imperatives that are communicated to all employees each year as part of the company’s overall business strategy. In other words, being a great place to work is every bit as important as our traditional business priorities as a global software provider, such as application development and migrating customers to the cloud.”

Can your CPA firm make a similar statement?

Here are 3 ways to improve the candidate experience. The headlines are from the article, the descriptions are mine directed to public accounting:

Make it easy for job seekers to find and apply for jobs – Visibility on the college campus is imperative. For experienced hires, you have to be where candidates are and that means social media. One experienced tax manager I met recently told me she joined my client firm because she moved to their city and found them online. From her online assessment, they looked like a firm she would enjoy… and she does!

Create a robust internship experience – I strongly recommend that you treat your interns like full-time employees.  Subsidize their parking, provide them with business cards, involve them in all team meetings and in some committee meetings or task forces. The MP should take them to lunch, individually and in small groups, etc.

Give candidates a realistic job preview – Be very open and honest when you talk to candidates. I know a very successful CPA firm that has an extensive interview process. People of all levels are involved and they tell the truth! Working in public accounting requires intelligence, hard work and flexibility. There will be extended hours during certain times of the year.

Read the full article to learn about 3 Way to Improve Employee Experience, too. Upward feedback is part of it!

  • Human resources isn't a thing we do. It's the thing that runs our business.
  • Steve Wynn

Friday, February 24th, 2017

Be Sure to Give Your Employees C.R.A.P.

Kortes“From caring comes courage.” – Lao Tzu

It’s not what you think! This method comes from Jeff Kortes. He is an employee retention speaker, author and expert. Kortes has found that employers don’t give their employees enough C.R.A.P. and it is driving away valuable workers. Here’s the CRAP he’s talking about:

C – Caring

R – Respect

A – Appreciation

P – Praise

I became aware of Kortes this week, visited his blog site and thoroughly enjoyed his posts.

I know that in public accounting you are certainly challenged with attracting, developing and retaining people. Perhaps, the first thing you should do is develop a written employee retention strategic plan. Learn more about it, from Kortes here.

  • Caring about others, running the risk of feeling, and leaving an impact on people, brings happiness.
  • Harold Kushner

Thursday, February 23rd, 2017

Signing Bonus

“If we will be quiet and ready enough, we shall find compensation in every disappointment.” – Henry David Thoreau

I often get questions about whether firms are offering signing-bonuses to new college graduates. The answer is, yes.

Signing bonuses were a big deal in the early 2000’s, then in 2008 and for a few years afterwards, the signing bonus was actually not needed and many firms discontinued the practice.

As you can imagine with the intense competition for talent, firms have returned to the practice of signing bonuses. I have observed that they usually run from $1,000 to $3,000.

Often, they are an enticement for a quick response to an offer. If you really have an all-star intern, I would think you would pay more than $3,000.

  • Take free money. No matter how in debt you are, if your employer offers a matching contribution on a 401(k) or other retirement vehicle, you must sign up and contribute enough to get the maximum company match each year. Think of it as a bonus.
  • Suze Orman

Tuesday, February 21st, 2017

Show Appreciation by Utilizing Stay Interviews

“Life is like riding a bicycle. To keep your balance, you must keep moving forward.” – Albert Einstein

Some accounting firms have been utilizing stay interviews for a while. However, I have observed that there are still many firms that haven’t embraced this excellent tool.

Anytime you devote individualized attention to one of your team members, asking them for advice and feedback, it’s a positive exercise for both sides – management and staff.

Elizabeth (Bitsy) Watson, PHR, the HR Manager for Mahoney, Ulbrich, Christiansen & Russ shared the process they use for stay interviews. It would be a good best practice for you to emulate. Her comments follow:

BitsyWe started out with results from our recent engagement survey and identified about five areas where we wanted more insight, such as, if we felt our scores for recognition could be stronger or we wanted more insights into what aspects of compensation were most important to staff.

We then came up with some questions related to these areas and others (about 10 total). A few examples were:

  • What types of recognition are most meaningful to you?
  • What opportunities for development would you like that you may not be getting?
  • What type of work do you find most motivating or interesting?
  • Of the compensation and benefits we offer, what aspects are most important to you and what could be improved in this area?

We used a representative sample of our employees to participate in the stay interviews. I kept the names confidential. After the meetings were completed, our next steps were to summarize the overall themes and share the summary with the partners, not sharing names. I also included three recommendations for changes or new programs to implement. We’ll then share these new initiatives with the interview group. We want them to know that we really valued their opinions.

I tried to be as transparent as possible with everyone involved on what we were trying to accomplish and how valuable their feedback is. We received an overwhelming amount of positive feedback from the interviewees. They mentioned feeling like it was helpful to have a channel to be asked questions they might never have been asked. I think the most interesting thing that came from this was bringing to light some wrong assumptions we, as management, had been making.

Our plan is to do this annually utilizing a different group of employees each year.

  • Many of life's failures are people who did not realize how close they were to success when they gave up.
  • Thomas Edison

Thursday, February 9th, 2017

How Visible Is Your Firm On Campus?

“A baby has brains, but it doesn’t know much. Experience is the only thing that brings knowledge, and the longer you are on earth the more experience you are sure to get.” – L. Frank Baum, The Wonderful Wizard of Oz

I hope you have read Rosenberg’s recent post about accounting interns‘ lack of knowledge about public accounting.

He interviewed a group of accounting interns working for local firms in Chicago. The sad result is that their perception of the CPA profession – hours worked by staff, hours worked by partners, earnings of partners – is sadly off-target.

Read my post from 2009 to learn about my experience with college students. They did not know anything about local firms, they only knew about the Big Four. Why? Because the national firms are visible on campus EVERY week.

There is much smaller firms can do.  My firm was recruiting on campus when I joined the firm and we only had nine people! So, big firm or small firm, be visible on the college campus.

  • No man's knowledge can go beyond his experience.
  • John Locke

Tuesday, January 17th, 2017

Parental Leave

“Trust yourself. You know more than you think you do.” – Benjamin Spock, M.D.

A few months ago I surveyed a small number of CPA firms across the country. I was curious about the kind of parental leave they offered as an employee benefit.

To my dismay, paid maternity leave is almost non-existent. CPA firms seem to approach it with a combination of actions. The employee (the mother) is encouraged to save and/or carry over PTO to be used and they combine it with short term disability options.

As far as any type of paid leave for new Dads, it seems truly non-existent.

Here is a good article from FAST Company – How Paid Parental Leave Changed in 2016. 

Some progress has been made, in general, but 2016 was not an impressive year for paid parental leave. A quarter of new mothers go back to work just 10 days after giving birth.

Just so you know, in 2016, EY announced a new policy to expand its parental benefits to over 35,000 U.S. employees. Both new mothers and fathers are eligible for up to 16 weeks of fully paid parental leave for birth, adoption, surrogacy, foster care, or legal guardianship.

If you want to attract and retain young, top talent. An impressive paid parental leave policy might just be the answer.

 

Tuesday, January 10th, 2017

Five Workplace Trends For 2017

“Perseverance is the hard work you do after you get tired of doing the hard work you already did.” – Newt Gingrich

As you already know, nearly every CPA firm is looking for new talent. It’s truly turned into a war for talent in the public accounting profession.

It’s not just public accounting, of course. According to Glassdoor’s newest report on job trends, there is a record number of unfilled jobs – 5.85 million as of April 2016 – which represent the most since BLS started tracking job openings in 2000.

Andrew Chamberlain, Glassdoor’s chief economist, shares some 2017 job trends:

#1 HR will transform itself into “people science.”

#2 Many things get automated but we don’t lose our jobs.

#3 Nontraditional benefits will become less popular.

#4 We’ll make progress narrowing the wage gap.

#5 The Gig economy will slow down.

Read more about each trend here. I know you will be interested in #3!

  • No one can make you feel inferior without your consent.
  • Eleanor Roosevelt

Monday, October 31st, 2016

Finding & Keeping Top Talent Sometimes Comes Down To How Many Benefits You Offer

CPA firms and many other companies are seeking talented workers. The competition is especially fierce among accounting firms.

I noticed an Associated Press story in my Sunday newspaper that headlined: Employers spice up benefits, offer help with pets, debt. I have heard from several firms that they have taken a serious look at their benefits in an effort to stay competitive. It seems that Millennials want more choice and customization while Baby Boomers want more certainty (good health and dental coverage).

Many employers are offering programs that monitor for identity theft, help with mortgage payments, assistance with repaying college loans and even unexpected veterinary bills. Many of these “extras” are offered and available but that doesn’t necessarily mean the firm foots the entire bill.

Here’s some information from SHRM:

Employee Benefits Have Exploded

  • SHRM now tracks 350 fringe benefits
  • 20 years ago it was 60 and 10 years ago it was 219
  • Most increases have been in larger corporations
  • Smaller businesses struggle to keep up
  • Biggest gain was telecommuting – in 1996 it was offered by 20% and it has grown to 60%

Maybe it’s time to review your benefit package. I have found that many firms haven’t kept pace with maternity and paternity leave programs.

  • I have found that among its other benefits, giving liberates the soul of the giver.
  • Maya Angelou

Thursday, October 6th, 2016

Don’t Believe Everything On A Resume

Not that many years ago, CPA firms never performed a background check before they hired an individual. I am pleased that most progressive firms now always do background checks as part of the hiring process.

Jason Quimby, Editor at BackgroundChecks.org sent me an interesting infographic to help you contemplate the disappointing fact that many people do actually falsify resumes.

lying-on-resumes

 

  • If you tell the truth you don't have to remember anything.
  • Mark Twain