Questions to Ask Accounting Job Applicants

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When interviewing accounting candidates, are you asking the right questions? Candidates’ answers can reveal insight into their background and uncover their hard and soft skills to help determine which candidate is the best fit for the role. Here are five questions hiring managers should be asking accounting job applicants:

  • What Are Three Top Skills Every Accountant Needs?

This question determines what a candidate believes their three best attributes are. Candidates’ answers should include a mix of hard and soft skills, such as understanding big data concepts and displaying strong communication skills. Candidates should also provide examples of how they developed and used these skills in previous positions.

  • How Do You Remain Updated on Accounting Legislation, Rules and Policies?

This question tests a candidate’s knowledge of the industry and critical thinking skills. Although no candidate can be completely updated on every new development, the top candidate will describe the methods they use to remain as current as possible with major industry news. For example, a candidate may actively read accounting magazines, attend seminars or conferences, or participate in professional organizations such as the American Institute of Certified Public Accountants (AICPA). Also, note whether a candidate provides a specific example of a recent change to accounting standards, especially as it relates to the position, to determine the authenticity of the candidate’s answer.

  • What Criteria Do You Use to Evaluate the Reliability of Financial Information You Are Given?

This question tests a candidate’s relevant skills. Candidates should mention generally accepted standards for evaluating the reliability of data, such as standards offered by the Financial Accounting Standards Board (FASB). Look for terms such as “neutrality,” “verifiability” and “materiality” and how candidates describe how those terms work. For example, “Neutrality is choosing accounting alternatives that are bias-free.”

  • Which Enterprise Resource Planning System Have You Used?

This question determines a candidate’s relevant skills. The top candidate should describe the brand or system they used and how it specifically benefitted the company. For example, the ERP system may have helped produce the annual financial statements 30 days sooner than before. Keep in mind that some companies are switching to cloud technology rather than using an ERP system, meaning a candidate may need additional training. Also, candidates with experience working for smaller companies may have used a more customized or hybrid ERP solution.

  • How Do You Handle Urgent Accounting Deadlines?

This question determines whether a candidate can effectively organize their work to ensure everything is completed on time. For example, a candidate may record all deadlines on a calendar, prioritize projects according to importance and how much time they may take, and complete the most important and less time-consuming projects first. If multiple projects have the same deadline, the candidate may come in early, work through lunch and/or stay late to complete their work. Also, the candidate may mention that they avoid answering phone calls or talking with colleagues unrelated to the project. In addition, the candidate may ask for help from their colleagues or manager or request more time if the deadline cannot be met.

  • Partner with WinCorp Solutions

These are five questions to ask accounting job candidates. For help with securing top accounting professionals, contact WinCorp Solutions today.

Four Tips for Advancing Your Accounting Career

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Moving forward in your accounting career involves careful planning. By gaining the necessary skills and experience, you set yourself up for success in your field. Follow these four tips for advancing your accounting career.

  • Earn Additional Qualifications

If you are just starting out, you may want to earn the Association of Accounting Technicians (AAT) qualification. This will advance your understanding of financial performance and may help you earn promotions. If you would like to move into management positions, you can complete the Chartered Institute of Management Accountants (CIMA) qualification. In addition, you can earn advanced degrees such as a Master of Science in Accounting. This degree will help you prepare for the certified public accountant (CPA) exam, leading to another qualification that can help you move forward. Furthermore, becoming a CPA prepares you for specialized qualifications such as a Certified Management Accountant (CMA), Certified Fraud Examiner (CFE) or Certified Internal Auditor (CIA).

  • Enhance Your Soft Skills

Strengthen your communication skills by joining a local Toastmasters club. Improve your leadership skills by participating in related workshops and seminars. In addition, increase your collaboration skills by joining a sports team. Because your ability to understand, relate to, and serve clients is a vital aspect of working as an accountant, developing your soft skills helps you perform at a higher level and shows you are the best candidate for a promotion.

  • Find a Mentor

A mentor can provide you with inside information about your company and/or the accounting industry to help you be more productive in less time. A mentor can also help you create and achieve long-term career goals so you progress professionally over time. Furthermore, a mentor can connect you with contacts and opportunities that you may not have found otherwise.

  • Network

Daily connecting with new professionals and cultivating relationships increases your influence in and out of the accounting field. You increase your chances of finding new ways to advance your career. Because the majority of desirable jobs are filled by word-of-mouth rather than advertising, you may be able to interview for roles you would not have had access to otherwise. Therefore, you need to participate in accounting events such as seminars, conferences and professional association meetings.

Partner with WinCorp Solutions

For help securing your next position, contact WinCorp Solutions today.

Regularly Meeting With Your Staff Is a Must

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As a manager, you need to help move your company forward. To do so, you need a great team in place. To maximize your team’s productivity, host regular meetings with them. Here are five reasons why regularly meeting with your staff is a must.

  • Keep Team Members Informed

When a member discovers something new, completes their part of a project or has an issue arise, they can ensure others are aware of the new development and how it affects their project. Team members can ask questions or provide their input accordingly. Also, if a significant amount of information needs to be discussed, a staff meeting is the perfect opportunity to share the information and answer questions.

  • Solve Problems

When your team gets together, they can voice their problems and concerns, share what solutions worked in the past and collaborate to find new ones. Because your members most likely come from different generations, have different life experiences and hold different values and beliefs, you will receive a variety of viewpoints on how to best handle the issue. Your team will work more cohesively when members know they have the information and support necessary for completing their work.

  • Innovate

Your team members can suggest methods to more efficiently and effectively complete processes to save the company time and/or money. Members can share their visions for the organization, such as new products/services that may be offered to stay competitive, along with ways to implement those ideas. When team members play a role in moving the company forward, they feel greater job satisfaction, stay engaged in their work, and remain loyal to the company longer.

  • Provide Feedback

You can discuss company policies and operating procedures to determine whether they’re being adhered to and/or need altering. Additionally, you can discuss your team and company goals, ensure each member understands their role in helping achieve those goals and provide feedback on how well your team is working toward the results. In addition, if your company is making substantial changes, your team can remain informed on what’s happening and why.

  • Recognize

Participating in regular staff meetings helps your team recognize their accomplishments. When each team member’s contributions are acknowledged, they feel appreciated and want to work harder to increase their performance. Teams then form stronger bonds, work more collaboratively, and help move the company forward.

Partner with WinCorp Solutions

These are five reasons why regularly meeting with your staff is a must. For assistance with finding the right professionals for your company, get in touch with WinCorp Solutions today.

The Importance of Staffing Firms

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Staffing firms recruit, train and manage workers who help with companies’ production on an as-needed basis. Whether providing qualified workers for a few days or months or on a potentially permanent basis, utilizing staffing firms’ services can provide advantages for employers. Here are five reasons why staffing firms are important.

Expertise

Staffing firms’ employees are experts in their field. Because they typically have higher levels of education, skills and work experience, the employees are highly knowledgeable about companies’ job requirements, employment trends and best recruitment practices. Firms’ employees also remain current with news and trends in their industry, especially if they specialize in a specific niche, which provides additional value when sending workers to a company. In addition, because firms’ employees collectively have a larger network than a typical company does, firms can quickly provide qualified workers to fill job vacancies when needed. Furthermore, firms’ employees are well-trained in prescreening job candidates to fill an organization’s needs.

Flexibility

Working with staffing firms provides flexibility.  For example, if a company’s employee is absent due to a planned event such as a vacation or unplanned circumstances such as illness, using an employee from a staffing firm can replace the employee for as long as necessary. Also, if an employer is looking to fill a long-term position, they can offer a temporary-to-permanent position that allows the employer to observe a worker’s qualifications, personality and job performance before deciding whether to hire the worker as a permanent employee.

Productivity

Mixing temporary workers with employees helps improve productivity. For example, bringing aboard temporary workers during busy times can help reduce employee workloads, decrease work errors, lower absences and prevent burnout. Also, because staffing firms invest the time and money needed to recruit, train and retain temporary workers, hiring managers can focus on other production responsibilities.

Lower Cost

Partnering with staffing firms typically results in lower costs. For example, because temporary workers are the firm’s employees, the firm covers costs related to pre-employment testing, background checks, drug screens and other parts of the employment process. The firm also handles payroll processing and benefits administration, further reducing an employer’s labor costs. In addition, having the firm quickly provide workers when needed results in continued productivity rather than an open position that results in an employer spending time and money to do their own search. Furthermore, because workers are brought aboard only when needed, companies again save on labor costs.

Reduced Risk

Because there are many legal responsibilities involved with owning a company, bringing aboard temporary workers reduces risk. For example, being an employer involves paying payroll and different types of taxes; providing health, unemployment and other types of insurance; and complying with labor and employment laws. Also, employers face financial and operational risks such as hiring and firing employees or filling unexpected job vacancies. Since temporary workers are the staffing firm’s employees, the firm assumes associated risks.

Partner with WinCorp Solutions

Partnering with WinCorp Solutions will help fill your staffing needs. We ensure every candidate entering your office meets all your job requirements. Contact WinCorp Solutions today.

The Biggest Problems Recruiters Face and How to Overcome Them

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Recruiters face many issues each day. Whether it’s a shortage of talent or the market being too crowded, there are always challenges to defeat. Fortunately, there are steps recruiters can take to resolve those issues. Here are three of the biggest problems recruiters face and how to overcome them.

Hiring Managers May Not Collaborate Well

Hiring managers may not be as collaborative as they should be in the recruiting process. For example, managers in highly technical fields often believe sharing information with, or providing feedback to, recruiters is not worth their time because recruiters may not understand what is being said. However, without additional information and feedback, recruiters cannot provide the most qualified candidates for a position.

To encourage hiring managers to collaborate better, recruiters can work on strengthening relationships with them. For example, during the initial meeting, recruiters and hiring managers can set clear expectations for each other. Recruiters may use data to show managers the size of the hiring pool so managers can adjust their expectations accordingly. Both parties can agree to hold each other accountable for meeting the agreed-upon expectations. Also, recruiters and managers can regularly meet to discuss how many candidates applied, where the hiring manager is in the hiring process, whether a manager turned down a candidate or the role has been filled.

Qualified Talent Is Limited

Many fields may be facing a lack of qualified talent. As a result, many job openings remain vacant, and recruiters lose out on filling those opportunities.

To alleviate the lack of candidates who possess the skills and experience required for a position, recruiters can use data to determine the best places to focus their search. For example, LinkedIn’s Talent Pool Reports show where talent supply exceeds demand and provides more recruiting advantages.

Top Candidates Have Many Job Offers

Because highly qualified candidates may be actively pursuing opportunities through more than one recruiter, candidates may be deciding among multiple job offers. If a candidate accepts an offer that originated with one recruiter, despite all the time and effort invested in presenting the candidate with other opportunities, the other recruiters do not get paid.

To help reduce the frequency of losing candidates to another opportunity, recruiters should ensure each candidate has an exceptional interview experience. Ensure candidates have all their business questions answered during an interview. Also, because the interview that candidates care most about is the one with the hiring manager, recruiters can coach the candidate to make the interview more of a two-way conversation rather than an interrogation. In addition, because candidates appreciate meeting a company’s senior leader, recruiters can ask one to briefly talk with a candidate during the interview.

Partner with WinCorp Solutions

Partner with a staffing firm that provides answers to recruiters’ problems. Contact WinCorp Solutions today.

Retaining Your Top Talent

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Retaining top talent is a critical part of a company’s success. Keeping skilled professionals results in increased revenue, decreased recruiting costs, more effective business planning and other benefits. Therefore, companies need to have a strategy for encouraging employees to remain with them long term. Here are six ways companies can retain top talent.

  • Establish a Strong Company Culture

Top professionals seek strong company culture. To create and maintain culture, employees at all levels should ensure the company’s mission and values are displayed through every interaction and decision. Also, employees at all levels should be kept informed about new hires, charitable events, company news and other pertinent information. Employees who actively participate in many aspects of an organization feel like valued team members and stay with the organization longer.

  • Offer Flexibility

Remote work, flexible schedules and PTO are in high demand. Fitting in professional responsibilities around personal interests promotes greater work-life balance. As a result, employees are more engaged in their work, perform at higher levels and remain loyal to the company longer.

  • Improve Employee Engagement

Because the best employees are engaged in their work, companies should continuously provide the resources necessary for staying focused. Managers and colleagues should encourage open, frequent communication with team members. Also, managers should provide team members with the information and materials necessary to complete individual and team projects. Employees at all levels should be allowed to provide input on the company’s overall business strategy and further contribute to the organization’s success.

  • Provide Frequent Feedback

Skilled professionals benefit from frequent feedback on their performance. Managers should clarify expectations for each team member to help reach the company’s goals. They should consistently point out to each team member areas they excel in and discuss steps they can take for areas they need to improve in. In addition, managers should provide both verbal and monetary recognition in the form of bonuses, raises and promotions tied to accomplishments. Employees who have their contributions acknowledged feel valued, produce at higher levels and remain with the organization longer.

  • Invest in Technology

Maintaining current technology demonstrates a company’s commitment to evolving and improving business processes. Staying updated with technology helps an organization retain innovative employees who expand the organization.

  • Encourage Professional Development

The best employees expect to be offered opportunities for professional development. For example, companies can offer tuition reimbursement to encourage additional education, training or industry certification. Companies can provide online training to enhance employees’ qualifications for promotion. Employees consistently engaged in learning feel greater job satisfaction, increase their contributions to the organization and remain with the company longer.

For assistance securing skilled professionals for your organization, contact WinCorp Solutions today.

Attracting the Top Accounting Talent to Your Business

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Hiring top accounting talent is a necessary part of growing a business. With the high costs involved in recruiting, it’s imperative the right professionals are in place throughout an organization. Here are four ways a company can attract top accounting talent.

  • Network

Networking introduces top accountants to the roles they desire. For example, companies can utilize LinkedIn to search for accountants in the company’s geographic area, find candidates who are already connected to the organization, and ask to be connected with those candidates. Using warm introductions increases the potential for successful results. Also, if managers attended college locally, they can join alumni associations and post in their online message boards and social media groups when positions become available. Managers can contact accountants who left the company on good terms and may want to come back. Those accountants would be more productive when rejoining the company than a new hire without previous experience. Furthermore, managers can host career fairs at local college campuses and open houses at high schools to promote the accounting industry and positions available within the company.

  • Offer Internships

Internship programs provide a direct pipeline to accounting students. Future accountants can adapt to company culture while applying what they learned in school to gain on-the-job experience. Employers can evaluate interns’ performance to determine who should be offered full-time roles within the organization.

  • Provide Opportunities to Advance

When a company has a track record of developing and promoting top employees, more accountants compete to work for the organization. Top professionals want to continually develop their skills so they can move on to greater opportunities. For example, accountants should be able to work with clients from start to finish to experience the entire accounting process. Also, accountants should work in audit, tax, consulting and other areas to see which field they prefer. In addition, accountants should be given increased responsibility, more input in management decisions and the potential to become partners in a firm. Furthermore, continuing education should be provided so that accountants interact with other professionals, stay current in their field and add to their skill sets.

  • Partner With WinCorp Solutions

Partnering with WinCorp Solutions provides access to our vast pool of top accounting professionals. As experts in our field, we place the most qualified candidates to fill all of a company’s accounting needs. Organizations save time and money by engaging us as active participants in their recruiting process.

For assistance securing accounting professionals for your organization, contact WinCorp Solutions today.

The Financial Sector and Gender Diversity

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As a traditionally male-dominated industry, the financial sector is becoming more gender inclusive. More firms are realizing that empowering females to work at all levels increases innovation and moves organizations forward. Here are three ways the financial sector is working to promote gender diversity.

  • Welcoming Females in Finance

Major firms are forming special programs welcoming females into the financial services industry. For example, Merrill Lynch partnered with the Columbia Business School to launch Greater Returns, a program designed to welcome females reentering the workforce. The program provides opportunities for networking and leadership development to help females advance their careers. Goldman Sachs launched Returnship Initiative, similar to an internship but focused on providing intense training, mentoring and work experience for females restarting their careers. In addition, Bank of America launched Career Connections, designed to maintain connections with female alumni from financial organizations who took time off from their careers and want to reenter the workforce. When senior- and mid-level executives plan on taking off for one to three years, the executives help create a return plan and a schedule for contact and communications. Executives may still participate in company events to increase their skill sets. Upon returning to work, executives have a customized onboarding plan and peer coach to assist with the transition.

  • Adding Female Board Members

Increasing numbers of female board members in the finance industry are being reported. Opening up additional positions of influence for females will continue encouraging gender diversity in the field. For example, traditional qualifications for directors, including financial and operational skills and industry experience, are being replaced with qualifications such as technology and cybersecurity skills and international experience. Also, imposing a mandatory retirement age and term limits for directors can facilitate board composition changes. However, because the majority of banking and capital market companies lack a mandatory retirement age for directors, many directors serve long into their 70s. Because the majority of banking and capital market companies lack term limits for directors, the average tenure is eight years.

  • Modifying Company Policies

Many financial organizations are modifying company policies to accommodate the needs of female employees. Many firms are allowing remote work and flexible schedules to empower females to purse high-ranking roles. Also, many benefits are being added to provide support for females’ health and child care needs. Employees are being trained to identify gender discrimination and its effects on the workplace and business outcomes to cultivate a more inclusive work environment. Furthermore, programs are being designed to provide females with access to professional development opportunities to help advance their careers.

For assistance with securing a finance position, contact WinCorp Solutions today.