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Staffing, Recruiting & Executive Search

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Accounting & Finance Staffing

Accounting & Finance Recruiting

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Partner, CPA

Typically, employers in a tight labor market can be expected to lean on the key weapon of salary and benefits in the war for talent. Makes sense: the Bureau of Labor Statistics (BLS) is reporting an unemployment rate of just 2.5­­­­­ percent for professional and managerial workers. Competition for the right candidates is fierce – and accelerating. However, a recent Baker Tilly Search & Staffing poll suggests candidates may be looking for different things from employers right now. The tight labor market may not have resulted in upward salary pressure. In June, Baker Tilly Search & Staffing asked our online visitors if they had changed jobs in the past 12 months – and what that meant in terms of their compensation. The results show compensation was not the primary decision-maker for the increasing number of employees prepared to move on from their current employers. Over 64 percent of our survey respondents changed employers last year for no change - or even a decrease - in pay. That suggests job searchers are more than willing to accept less pay if the employer offers a value proposition that supports their career goals and a workplace culture that fits their personality and work style. Of respondents who changed jobs in the preceding 12 months, only one-third received an increase in pay, with 14 percent of those individuals opting for an increase less than 10 percent. What are some of the potential drivers in changing jobs? Career progression, opportunities for growth and top-notch learning and development are all known considerations. While employers do place a lot of emphasis on salary when recruiting, workers often actually want to feel like they are continually growing their arsenal of professional skills. Businesses are responding by increasing the time and effort into the training essential for professional development. For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

Baker Tilly Search & Staffing

More money? Even in a tight labor market, it’s not all about the pay

If you are not currently utilizing contractors as a part of your business model, your accounting and finance team is potentially missing out on significant opportunities for cost savings, boosting employee morale and more. Here are 7 ways contractors can make your finance department better: Fresh perspective: Professionals who choose to make a career in contracting have exposure to many projects, organizations and industries. Often, they’ve witnessed firsthand the challenges and success other finance teams have had and can bring that knowledge to bear on your department’s behalf. This outside perspective can help your team break the daily routine and offer access to new skills. Flexibility in your workforce: Contractors can be hired and released based on the needs of your organization. A contract senior accountant or a financial reporting specialist can provide an extra hand during busy times, employee transitions or organizational changes, but don’t require the long-term commitment of an additional employee. Contractors as a complement to professional services: Contractors can be used to complement professional service providers by supporting and assisting with system implementations, due diligence for mergers and acquisitions along with accounting department integrations. Train your staff: Contractors bring highly specialized skillsets to the table. If your organization is undergoing a change and new skillsets are required of your staff, consider hiring a contractor to develop and implement a training program for your existing team. Specialized skills: Contractors provide on demand, specialized skills that may not exist in your accounting and finance department. Moreover, because professional contractors change positions frequently, they typically have a short learning curve and find ways to add value quickly. Increased productivity: Generally, contractors are hired for a specific project. For example, completing an annual budget, finishing a 5-year forecast or completing the due diligence list for the sale of an organization. By focusing on a key skillset, contractors tend to be incredibly efficient at the task at hand. What’s more, contractors are largely unaffected by office politics and generally don’t receive unplanned requests that permanent team members receive. This enables them to complete their projects faster and with greater accuracy. Maintain a smaller permanent workforce: Organizations with staffing peaks and valleys can utilize contractors during peak periods to maintain a smaller permanent workforce. As an added benefit, by balancing the workload, you simultaneously boost staff morale with an appropriate workload during slow times and offering the extra support required during peak times. Does incorporating contractors into your finance team’s business model make sense? For more information on this topic, or to learn how Baker Tilly search and staffing specialists can help, contact our team.

Public Sector Executive Recruitment

7 ways a contractor will make your finance department better

At least once, if not multiple times in your professional career, you’ve gone to a job interview before landing the perfect position. You hand-picked the sharpest suit in your closet, researched the company inside out and tracked down the hiring manager on LinkedIn. You did your homework, came prepared, sold your skills and landed the job. Now the tables have turned and you’re the hiring manager. What is expected out of you? What can you do to attract the right candidate? It is just as important for you to sell the job as it is for the candidate to sell themselves. Here are 12 tips to successfully sell your job to the candidate: Tip 1: Familiarize yourself with each candidate Once your human resources department identifies candidates that are qualified for the role, read through each resume and get to know each candidate’s background. This allows you to plan questions around their prior experience and is a great way to get specific about qualities or experiences that may relate to the position you are filling. Tip 2: Evaluate the job attractiveness To sell the job think about the following questions: Why would anyone want this job? Why would they want to join this organization? What are the perks? Get the specific on benefits, flexibility, how this person will meet their social needs, discuss self-development plans, resources and where they can see themselves going in the future with the company. Tip 3: The first impression is the last impression Just as candidates should always arrive early to ensure they are on time, so should the hiring manager. Making a candidate wait past schedule sets a bad precedent on you and the organization. Tip 4: Make them feel comfortable and welcome When you meet the candidate, smile, be professional and treat them the way you would treat your own customers. Start out by offering them a cup of coffee, bottled water or a soda. Tip 5: Ease into the interview Start off by sharing the mission statement, values of the company and details of the product. Then discuss the tenured individuals who have made an impact in the organization resulting in their own growth and accomplishments. This gives the candidate a chance to feed off your conversation in order for them to explain why they would be a good fit for the role and company. Tip 6: Set clear expectations and be candid about the hiring process Set clear expectations during the interview, what you are looking for and inform the candidate of the hiring process and related next steps. Tip 7: Involve the team After selecting top candidates to move further into the process, include high-level individuals who have moved up quickly to join in on the final interviews. Have each person share a specific feel-good story about their experience with the organization and the reason they look forward to going to work every day. Tip 8: Seal the deal Take the candidate on a tour of your office, plant or working space to help them visualize themselves in the space. Share the growth plans and strategic initiatives of the organization. Talk about any projects that they might get involved in. The main focus is to get the candidate thrilled about the opportunity to make a direct positive impact. Also, take a few minutes to learn about motivations other than money. Why do they want the role? Try to identify any pain points in their current position and see if it’s something that you can work with. Tip 9: Follow-up after the interview Send a thank you note to all candidates for having an interest in your organization. Even if it’s not your top candidate, you want to show appreciation because you never know if an opportunity could open up for them in the future. Tip 10: Act quickly when making the offer and make it personal As soon as you and your team decide on extending an offer to your top candidate, act quickly because chances are they are also interviewing elsewhere. You don’t want to lose them and have to repeat the search process. As the hiring manager, call them directly to share the good news and that an offer is forthcoming. This will add a personal touch and allow them to feel comfortable enough to bring up any pain points that the company can help address. Be open to an informal coffee meeting afterwards in case they have additional questions or concerns that were not brought up during the initial interview. This will also give you the opportunity to sell your company one last time and share your excitement for them to join the team. Tip 11: The offer has been accepted, now what? Congratulations! You’re offer was accepted and a talented new individual has joined your team. It was the right fit on both ends and they will start in two weeks. Now you have to switch your focus to the onboarding process. Have each person who interviewed them reach out welcoming the new member to the organization. Set up a coffee meeting with team members that were not involved in the interview or provide their LinkedIn profiles. Lastly, be sure they know where they are going by providing a first day agenda. Selling the job is as important as finding the right candidate Getting a candidate excited for your job and company is just as important as finding the right candidate. The excitement will result in eagerness to learn, motivation to contribute, and high levels of productivity. There’s a chance of losing the candidate if they don’t feel that they are shown interest by their potential employer. So be prepared, share the good stuff and show the love! For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

Winning over the candidate you want

Considering millennials have surpassed baby boomers as the largest generation in the American workforce, retention remains a hot topic. Read the article.

Employer Services

Beyond recruiting: How to retain millennials

Tax savings Paying your child for services performed in your family business can reduce your overall family tax bill, while shifting assets to your child without gift tax implications. As a business owner, you can take a deduction for the wages paid to your child, while your child can utilize his or her standard deduction (up to $6,300 in 2016) to offset those wages making them income tax-free (and possibly payroll tax-free). Additionally, the deduction might lower your adjusted gross income, which might favorably impact other deductions and credits that get phased out due to high adjusted gross income. For example, a business owner in the 35 percent tax bracket hires their 14-year-old son to work in the office on weekends to help with filing, shredding, cleaning, etc. The child earns $6,300 in wages throughout the year and has no other earnings/income. Ideally, the child should receive a Form W-2 for the work performed. Since the full amount of the wages will be deductible as compensation paid by the business, the tax savings to the business owner is $2,205 ($6,300 x 35 percent), and  the income tax to the child is $0, since all of these wages are offset by the child’s standard deduction. In addition, if the business income is subject to self-employment tax, there would be additional tax savings by way of reduced self-employment income. Even if the wages exceed the standard deduction, the child is allowed to make an IRA contribution up to $5,500 in 2016 which, as an “above the line” deduction, could substantially reduce the child's taxable income. If the maximum traditional IRA contribution is made, the first $11,800 of the child's taxable wages will result no income tax liability ($6,300 standard deduction + $5,500 IRA deduction). And again assuming the parents’ 35 percent income tax bracket, the child's wages would produce an income tax savings of $4,130 to them. If wages are paid to the child in excess of the $6,300 standard deduction, and a Roth IRA contribution is desired as opposed to a traditional IRA, any income in excess of the standard deduction will be taxed at the child’s tax rate. The lowest tax bracket of 10 percent applies to taxable income up to $9,275 for 2016. Assuming a traditional IRA contribution is not made, the child could earn up to $15,575 ($15,575 - $6,300 standard deduction = $9,275 10 percent bracket limit) before being pushed into the next tax bracket, assuming he or she earns no other income. Please talk to your financial advisor before deciding on whether a traditional IRA or Roth IRA is right for you. In addition to the income tax savings, you may be able to save on payroll taxes if your business is unincorporated. If you operate as a sole proprietor or a husband-wife partnership without other partners, services provided by your child under the age of 18 would not be considered employment for FICA purposes; therefore, you would not be required to pay FICA and FUTA taxes on the child’s wages. Additionally, FUTA is not imposed in this situation if your child is under age 21. If your business is a corporation (or a partnership that contains non-parent partners), FICA and FUTA taxes are still required to be paid on your child’s wages (note, the reduction in income tax is still achieved). However, there is no extra cost to the business owner, as these taxes would be required to be paid if you would have hired someone for similar work anyway. As a future planning concern in arranging for contributions made to an IRA established for a minor, it is important to keep in mind that once the child reaches the age of majority, he or she will be free to take funds from the IRA as he or she pleases, and can even close the IRA out. With a distribution from a traditional IRA, there will be taxable income to deal with and, most likely a 10 percent additional tax on the amount of the distribution on account of a premature distribution from the IRA. And, if the conditions applicable to a Roth IRA, including the holding requirements, are not met, penalties, in addition to tax on the investment earnings could apply, as well as that 10 percent additional tax on the amount of the distribution. Therefore, in establishing an IRA for a minor, it’s often best going into this strategy with the intention that the child is to maintain his or her IRA intact for a long, long time or that the IRA is to be used for a specific funding purpose. One example of a specific funding purpose involves taking distributions from a traditional or Roth IRA for “adjusted qualified higher education expenses” (AQEE). In such a case, regular income taxes will be due on distributions from a traditional IRA but usually not from a Roth IRA. As to the application of the 10 percent additional premature distribution tax on account of AQEE, if the taxable part of the distribution is less than or equal to the AQEE, none of the distribution from the traditional or Roth IRA would be subject to the additional 10 percent tax; if the taxable part of the distribution is more than the AQEE, only the excess would be subject to the additional 10 percent tax. For purposes of this rule, AQEE include tuition, fees, books, supplies, and equipment required for enrollment or attendance at an eligible educational institution. Also included are expenses for special needs services incurred by or for special needs students in connection with their enrollment or attendance. In addition, if the student is at least a half-time student, room and board would also be considered as AQEE. In summary, there are good reasons to consider sheltering a portion of the child’s income in a traditional IRA or making after-tax contributions to a Roth IRA during the child’s minority period when presumably the exemption and the child’s income tax bracket are most favorable. In doing so, the parents/business owners will also want to consider the future strategy of the IRA as a basis for deciding whether to go with a traditional or Roth IRA, and that strategy should be communicated to the child. As a starting point, the strategy should involve steering clear of the application of the 10 percent additional income tax and maximizing any additional tax preference which would apply to a future distribution from the IRA. Doing it the right way When hiring your children, you need to be careful to treat them similarly to any other employee. This might include items such as: Keeping detailed employment records, including timely tracking of weekly hours and wages that correspond to services provided Issuing paychecks as you would a normal employee (e.g., bi-weekly) Documenting that the services are legitimate and considered ordinary and necessary for the business Ensuring the services provided do not include typical household chores If your child is not treated like any other employee in a similar position, the IRS could potentially deem their wages as not ordinary and necessary, and disallow them as a deductible expense. In Patricia D. Ross v. Commissioner, TC Summary Opinion 2014-68, the IRS did exactly that. Mrs. Ross operated several businesses, and hired her three children to perform services. The work performed by the children was mostly legitimate work and timesheets were prepared. Mrs. Ross filed the appropriate employment tax returns and the children’s income tax returns where required. While the above items were a good start, Mrs. Ross did not generally pay her children on a regular basis, but rather she often made payments to third parties for expenditures that her children “directed her to make” (most of which were meals at restaurants). Also, amounts "paid" to the children had no correlation to the amount of hours actually worked and there was no consistent wage rate (hourly rates ranged from $4-$30 per hour depending on the child and year). Based on all the facts and circumstances, the IRS determined that the arrangement between Mrs. Ross and her children was too dissimilar between that of a normal employer/employee relationship, and that all of the wages claimed as an expense were disallowed. In no way should this case discourage a business owner from hiring their children and deducting the child's wages as an ordinary and necessary business expense. Rather, it should serve as a reminder on how to do it correctly. From an overall family tax standpoint, hiring your children is an effective tool in reducing taxes, but business owners should be mindful to treat them as they would other employees. For more information on this topic, or to learn how Baker Tilly tax specialists can help, contact our team. The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely.  The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments.

Family Business

Hiring your children - tax savings and doing it the right way

There’s nothing new about the concept of emotional intelligence. The term became a part of the standard business lexicon in 1995 when author and psychologist, Daniel Goleman, analyzed jobs at 121 organizations. He found that 67 percent of the 181 competencies that distinguish the best performers at work are emotional competencies. When compared to Intelligence Quotient (IQ) and expertise, emotional intelligence mattered twice as much. Today, with the power of emotional intelligence (EI) now broadly recognized, many companies have incorporated EI assessments into their performance review and succession planning processes. However, few have found a way to incorporate EI assessments into their interviewing and candidate evaluation processes. To increase the chances of making sound hiring decisions, many organizations subject candidates to an extended interview process. According to author and leadership consultant, Adele B. Lynn, conducting more interviews is not the right answer. “What’s needed are better interviews—interviews that measure candidates’ emotional intelligence.” The subjective data obtained from incorporating EI assessments into the interview process for executive roles could give your business a significant competitive edge. Download this whitepaper: Interviewing leadership candidates for emotional intelligence > For more information on this topic, or to learn how Baker Tilly executive search consultants can help, contact our team.

Interviewing leadership candidates for emotional intelligence

Employees need and want the right jobs, plus businesses need and want the right employees. Baker Tilly's Laura Huggett discusses matching employers and candidates in the financial sector in this WICPA On Balance article. Read the article >

On Balance: The career insider

Retention of quality employees is critical to the success of an organization, not only for top notch service to be delivered to customers, but for the bottom line return to the business owners and shareholders. Recruiting and training new employees can be the most costly aspect of running a business. So when the phone rings, and someone like me is on the other line, how do you "recruiter proof" your All-Stars? Well, here are ten coaching tips to help keep your employees from using me as their new agent! Make promises you can keep. Whether it is promising a certain career path or that the extreme travel will slow down, make good on your commitments or live with the outcome. Don’t sugar coat the reality of the role or what is going on in the organization. People know that you can’t predict the future, but if they feel they were misled…you have made my job much easier. Have an open door policy. If your employees feel comfortable coming to you with small concerns, they are more likely to come to you once something major comes along. Keep even keeled as a manager and keep it professional. Have fun. If you find yourself being the "Negative Nelly" take a step back and realign your attitude. Management sets the tone and if it is one of camaraderie and positive notes people will want to come to work and to perform well for you. People desire fun in their professional lives, too. Offer opportunities to expand employee’s skill sets. Let’s face it, not every company can promote everyone nor does everyone want to be a manager. However, most people want to feel challenged and know that they are contributing to the advancement of a common goal. Offer training, host contests, and provide encouragement to those that participate. Not in the budget? Respect, positive feedback, and letting people know you value them doesn’t cost a thing, and is appreciated more than additional money to many. I love calling people on a day when their boss just disrespected them. Check the market annually. Make sure that you are working with human resources or outside consultants to ensure that you are compensating your employees appropriately in the marketplace, as well as equitably internally. People DO talk about money. Be flexible. If one of your top performers comes to you with a personal or professional issue, try to accommodate them. For example, if your star employee’s parent becomes ill and needs a reduced schedule for a time, you might consider the big picture of having this person on a limited schedule for a few months versus losing them completely. My clients would be happy to provide the flexibility needed for YOUR star employee. Don’t give them a chance. Be willing to let top talent go. If you have a superstar on your team that really wants to be in a different department, let them explore it and if it makes sense for the business, let them go. It’s better to keep the person in your organization helping another manager than your competitor…no matter how good they make you look. Lead by example. Have you ever worked for a manager that told you to do something but never did it themselves? Walk a day in your associates’ shoes even if you’ve never done the job before. It will give you better context and will show you take your role seriously. If you can’t live up to your own expectations how can you expect anyone else to? Admit your mistakes. If you screwed up, or if you set an unrealistic expectation, just own up to it. Simple, yet very rarely done in corporate America. It will have the added benefit of giving your team comfort that they can come forward when they make mistakes, too. Update the work environment. Keep your workplace current for the talent you are trying to attract. This might mean you are in a sharp office in the heart of downtown or a smaller building in the suburbs for a shorter commute. It might mean reviewing policies (No Facebook at work? Really?), benefits, and culture along with the nuts and bolts of furnishings and fixtures. Company dynamics change; your location and environment might need to as well. Include your staff when deciding what needs to change to give your workplace a makeover; they will be much more likely to embrace the changes. The most recruiter-proof candidates work for organizations that abide by these coaching tips. Implementing these low-cost, easy to adopt ideas can save your organization thousands in recruitment and on-boarding costs. The market has turned in favor of the All-Stars. There is always room in the budget for top talent, so don’t give yours a reason to be a free agent.

Don't give your all-star employee a reason to become a free agent

The Doctor, a movie from 1991 starring William Hurt, tells the story of an egotistical heart surgeon who treats his patients like names on a list. When he gets sick and is treated in a similar manner, he realizes how his patients must have felt. Consider how this applies to the candidate/company relationship. If hiring managers used a better “bedside manner” with their candidates, many of the ills of bad hiring practices, including lengthy timelines, would be cured! When you are a candidate, each day feels like an eternity as you wait to hear the results or next steps of the interview process. Let’s take a closer look at what happens when the process is sickened by the time virus and the “bedside manner” could be improved. Candidates self-diagnose When a candidate doesn’t receive timely feedback, they may start having negative, inaccurate thoughts that destroy the positive feelings and momentum your hiring process had until that point. Thoughts like: “They don’t like me,” “I must be their second choice,” “They’re moving forward with someone else,” or “They don’t know what they want.” Time can cause candidates to rationalize why it’s better not to be chosen and begin to second guess their interest in your organization. It sends a message about the company culture If your hiring process is slow, candidates may believe your organization is an unwieldy, bureaucratic environment. Candidates often draw conclusions about treatment of current employees based on your process. Does the speed of your hiring process reflect your company culture? It sends a message about your ability to make a decision As a hiring manager, the process reflects on you as much as it does on your organization. Most candidates want to work for a strong, decisive leader. If expectations aren’t well-managed, time can cause candidates to question your abilities. Hiring managers may delay making a decision, hoping the answer will come to them. As stated in the song Freewill by Rush, “If you choose not to decide, you still have made a choice.” Candidates disappear It is a candidate’s market and strong candidates will be hired by someone else. Even if you’ve located a passive candidate (someone who wasn’t actively seeking opportunities), that doesn’t mean you can afford to lengthen the hiring process. If they are open to talking to you, they will likely evaluate other options as well. You forget the details about a candidate If you let the process drag on, you risk forgetting why you liked a candidate or what concerns you wanted to address. There are several important, but straightforward antidotes for addressing the time virus in your hiring process: Know what you need Often, a search begins before the hiring manager pinpoints the hiring profile. What is the ideal candidate? Which experiences and traits are required and which are preferred? If you know what you are looking for, be confident in your ability to assess/interview for those attributes. Keep the process moving Having the right team is critical to your success and vacancies need to be your priority. Minimize the risk of time by communicating timing expectations with the candidate, especially if there are expected but uncontrollable scheduling conflicts that may slow your process. When you find what you need, act quickly! It’s common to want to interview additional candidates after finding “the one.” This is a symptom of not being confident in your own hiring abilities or having not properly defined what you need. It’s like buying a house. You find the perfect house, but want to look at a few more just to be sure, only to discover that it was perfect and is no longer available when you’re ready to make an offer. It is important not to mistake this advice for shortcutting your hiring process. Instead, focus on eliminating excuses, procrastination, and other bandages put on a broken process. If you act quickly, you’ll earn a quick response to your offer. Many organizations take weeks and even months to make a decision, but expect a candidate to decide in a day or two. Strong talent is always in demand, and in a candidate’s market, it is even more important that time doesn’t plague your efforts. You spend a lot of time finding and evaluating talent, so don’t let the time virus kill your deal. Remember what it’s like to be in the candidate’s shoes and you’ll easily cure your process. If you don’t, losing the perfect team member due to time may just leave you feeling sick!

Time: A virus to the hiring process

Whatever the title of your top accounting position—CFO, controller, or bookkeeper—as a business owner you know that this position is the key in allowing you to focus on what you do best: run your business. A talented controller will do more than just make sure your books are in order. Today’s controller is more strategic and forward thinking—handling everything from choosing accounting software to preparing comprehensive business plans which incorporate financial and industry projections. Preparing to hire The market for talented accounting professionals is H-O-T. Now more than ever before, the most talented individuals have many options. In addition to refining your interviewing skills, you will need to brush up on your sales skills before you will be successful in attracting the desired candidate. Confirm that your salary and benefits package is in line with market and consider what else you have to offer this individual. Be prepared with company success stories including recent growth, top clients, and successful acquisitions. Expect to share, confidentially, your business plan. Make sure you know what it says and be prepared to discuss it. Your ideal candidate wants to be engaged in the business and will have good questions. Hiring strategies Our organization uses the “Three S” strategy to identify potential candidates for both ourselves and our clients: smart, successful, and stable. Having the right person in this top accounting position is crucial to your company obtaining the information and financial strategy needed to execute your growth plans. Hiring the right person, the first time, allows you to direct your efforts towards your customers and not the numbers. Smart “Smart” is different things to different people. The person you hire for this position must know your industry and the accounting field. In addition, the candidate must possess a general business understanding of economic and industry trends and apply that knowledge to help grow your business. Throw in a hefty dose of common sense (which is not that common, believe it or not), and your candidate meets the first strategy. In addition to degrees and certifications (which are important), the candidate must be challenged to provide real life examples of how his technical expertise was used to provide value to his former employer. If the candidate has the credentials, but is unable to provide specific examples of what he made, saved, or achieved in his prior positions, move on. Successful Human resources studies have consistently shown that past behavior is the best predictor of future behavior. In other words, if your potential controller has been successful in other positions or in other ways, like collegiate athletics or academic competition, she is much more likely to continue that success with your company. Ask your candidate to provide you with examples of prior successes. Find out what talents and traits she possesses that allowed her to achieve these successes. Are they relevant to what is needed for success in your controller position? Do they set her apart from others with similar background and credentials? Does she have a proven history of associating with successful people and organizations? If so, she is more likely to bring that success with her to your company. Stable Great companies hire great people and find ways to keep them! Talented individuals identify companies who can provide them with good career paths, and remain loyal as long as they are provided growth opportunities. The best employees have stable work histories, as they typically research opportunities up front and make good choices. They provide value to their employers, who therefore are unlikely to select them/their departments as candidates for downsizing or outsourcing. Be wary of the individual who has been “in the wrong place at the wrong time” too many times. When discussing work history with a candidate, be prepared to ask tough questions about his departure from each position. If downsized, gain an understanding of how many were downsized from the company. How were those to be downsized selected? How is his work being handled now? Do not accept vague answers such as “I left for a more challenging position”. Ask for clarification, and do not be satisfied until you have a full understanding of the reasons for departure. Once you have a complete understanding of his work history, you are much better positioned to make an assessment of his capacity to effectively assess a career opportunity, and to commit to it. Understanding candidate expectations Gain a good understanding of your candidate’s career goals. Is career ladder climbing important to her? Does she expect to work 40 hours a week or 70? Does she plan to remain in accounting or is she hoping to gain broader skills? Will joining your company help her fulfill her long-term goals? If not, no matter how much you like and/or respect her, this candidate is not likely a long-term solution for your company. Understanding the long-term goals of your candidates is crucial in finding the ideal person for your organization. Getting your new employee acclimated Once you have identified an individual who meets the 3-S Strategy, make sure the tools and information are provided for him or her to be effective in the role. Effective orientation has a high correlation to retention rates, and not just for staff level positions. Work with your Human Resources department or an outside consultant to create a new hire checklist. This checklist should cover supplies, equipment, and training, as well as identifying who is responsible for each task. You, or a long term employee in good standing, should mentor your new employee, especially on corporate culture and unwritten code of conduct. (Imagine your new hire’s embarrassment when, during his first week, he parks in the CEO’s parking spot which everyone else knows is his but is unmarked!) The number one reason a person leaves a company is due to their relationship with their immediate supervisor. And remember, be accessible for questions by setting and keeping appointments for regularly scheduled meetings. Use the 3-S Strategy to hire right, help your employee meet career goals, and have an open and honest relationship—these are the keys to having a long and mutually beneficial relationship with your ideal candidate.

Hiring techniques for top accounting positions

Buckle up as we are in for an interesting ride! The hiring market is heating up. Top talent has always been in demand, even in the downturn, but clearly the market is much stronger than a year ago. Employees who have felt trapped are now able to find new opportunities as companies have renewed confidence in adding staff. So what are companies doing to find top talent? In order to get more insight into the local marketplace, we surveyed hiring managers around Wisconsin. For starters, 39 percent indicated they anticipated increasing head count in 2011, with no one decreasing. Eighty-six percent responded their hiring needs are a result of new head count. Interestingly, no one anticipated hiring needs as a result of turnover! Some companies handled the downturn well, in some cases even paying back lost wages to those who took temporary pay cuts. Others? Let’s just say they didn’t handle the downturn quite as well. A lot of damage was done to companies’ employment brands during the downturn. How things were handled caused serious trust issues with some hiring managers. Even the best companies have turnover, yet it appears many are not planning on it! Thirty-three percent of companies reduced their internal recruiting teams. Nearly 40 percent are hiring more, yet only 13 percent are adding more dedicated resources to recruiting efforts. Responding companies plan on sourcing talent as follows:  Interestingly, only 64 percent of those surveyed had an internal referral program with almost 79 percent planning on hiring through this source. Also of note was that no one planned on making outbound cold calls. Not surprisingly, most organizations’ sourcing efforts are heavily weighted on finding active candidates in the market with only some effort on finding passive candidates. This is often a result of resource constraints and is outsourced to search firms, which 50 percent plan on utilizing. Almost 73 percent view LinkedIn as an important part of their hiring efforts with 9 percent using Facebook. LinkedIn...the perfect excuse to have your resume online without your employer caring! In some cases people aren’t even shy about listing being interested in career opportunities. It is an important tool, but not everyone is on LinkedIn. So what should you do to be prepared to compete? It’s time to audit your hiring practices. How well do you define your needs? How prepared is your team to evaluate and sell candidates? Are you ready to move quickly when you find the right person? What resources do you have internally/externally to find the best person for the opportunity? Here are some suggestions of best practices to consider as you evaluate your hiring efforts. Some are old standbys while others may be new to you! Dust off your internal referral program. Keep it fresh and visible. Constantly remind people not just to think in terms of those that need a job, but who is qualified. Social media. Consider your brand—what really is your employee experience and how are you reflecting it in the social media world? Consider the time you have to devote to maintaining it. Everything you read about social media is that you need a strategy—be consistent and deliberate with your efforts, and give to the social media community more than just take. Challenge yourself to find out which social media sites are hot for the type of candidates you want to find. Have a contest in your office to make a “day in the life" video to post on YouTube. Use your e-mail signature. Think of how many e-mails you send out. Each one could be a mini billboard for your company. Include links to your social media or career pages. Consider a brief line indicating you are hiring. Proactively recruit. Determine who has the time to find the passive candidates. Your own efforts? Internal recruiters? Search organizations? If you aren’t proactively recruiting, you are missing most of the talent. Constantly recruit. Just because you don’t have an opening doesn’t mean you shouldn’t keep a list of strong talent you meet. One survey respondent, who works for Starbucks, indicated they hired a store manager after observing selling behaviors at a flea market! Stay in touch with past candidates or employees. You have already invested time in these relationships and you know them. They may be a great hire or referral source. Are you ready? Define your need, come up with a strategy factoring in your resources, and go after the best talent in the market. Your success depends on it! This article was reprinted with permission by the Wisconsin Institute of Certified Public Accountants.

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