With retention concerns on the rise, chief financial officers and workers agree on the primary cause of employees quitting: money. In the Robert Half research, both groups reported inadequate salary and benefits is the top reason good employees leave their jobs.
U.S. Bureau of Labor Statistics,
Occupational Outlook Handbook
The need for professionals experienced in regulatory compliance has only grown since the Sarbanes-Oxley Act of 2002. Recent and ongoing mandates, along with regulatory issues at banks, the Affordable Care Act (ACA) and increased enforcement, have reinforced how crucial expert compliance officers are to organizational success.
When hiring for these positions, companies face stiff competition. This is driving salaries higher and, with more opportunities available to compliance specialists, making retention more challenging.
To attract and land top performers for compliance officer positions, answer the following questions.
Staffing management means more than finding the right people to fill each position in your company. Like a coach assembling an all-star team, you need to make sure every star’s skills complement the others while also ensuring all the positions are filled and objectives met. With so many moving parts, where do you even start to create an effective strategy?
As a financial executive, staffing management is an integral part of your overall objectives and should include:
- The type of staff needed and the required skills
- How the staff will be acquired
- How long the staff will be needed
- The training needed and the training procedures
- Start and end dates
- Project timelines and budgets
This post originally appeared on FEI Daily.
Many people think of networking largely as a job search tool. They fail to recognize its role in enhancing their long-term job security, professional stature and company’s growth.
Individuals with strong networks are often seen as more valuable by their organizations because they’re professionally active and well connected, and networking can be a valuable business development tool. In a Robert Half Management Resources survey, 60 percent of chief financial officers (CFOs) interviewed said business growth was the primary purpose of their professional networking activities (compared to 10 percent whose top goal was looking for a job).
Still, the reality is after landing a coveted position and putting in long hours trying to make a mark in a new workplace, networking can suddenly seem like a low priority. Before you relegate it to the bottom of your to-do list, consider these suggestions for easy ways to keep your networking efforts active, even as you work on establishing yourself in your new position.
Financial Executives International
In today's job market, it a good time to keep your eyes open for career opportunities. If you’re wondering what to expect in 2015 as a senior business systems analyst, look no further: The annual Salary Guide from Robert Half offers a wealth of information on the hiring and compensation outlook.
Here are five trends you should know.
Technological advances in recent years have not bypassed finance and accounting. On the contrary, they've played a significant role in changing business dynamics.
Many companies are considering a shift to automated financial systems to better handle complex processes. Automated financial systems can streamline processes, help an organization meet its overall goals, and, ultimately, save time and money.
In Benchmarking the Accounting and Finance Function: 2014 from Robert Half and Financial Executives Research Foundation (FERF), 24 percent of U.S. executives said they use third-party software for account reconciliation, more than double the number in last year’s survey. An additional 16 percent of respondents said they use an internally developed tool.
Financial Executives Research Foundation
Sorry, boss. While your employees might enjoy those Facebook pictures of your Hawaii vaca, adding them to your friends list isn't going to cut it when it comes to a salary increase, as this month's Randy Glasbergen cartoon suggests.
Randy Glasbergen Comic,
The increased demand for skilled financial professionals has resulted in a limited talent pool for many positions, including financial analysts. What should you consider when searching for an experienced financial analyst? Answer these three questions to help identify skilled candidates.
In today's regulatory environment, the compliance burden in the United States isn't expected to let up anytime soon. National regulatory standards were stringent before the financial crisis, and the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act created a whole new set of rules for the business sector. The Patient Protection and Affordable Care Act is also generating a list of complex and sometimes shifting mandates and requirements.
This environment appears to be the new normal. Almost all (98 percent) of the U.S. financial executives surveyed for Financial Executives Research Foundation (FERF) and Robert Half’s Benchmarking the Accounting and Finance Function: 2014 believe their regulatory compliance burden will either increase or, at the very least, stay the same in the near future.
Financial Executives Research Foundation
You may have heard the news: Oracle CEO Larry Ellison recently stepped down after 37 years in the head post. His new role is as CTO and executive chairman of the company. By all accounts, the transition has been smooth, and, other than new titles for Ellison and a couple of other executives, it seems to be business as usual at Oracle.
But not every organization has succession planning as well-mapped as Oracle. According to a Robert Half Management Resources survey, 78 percent of CFOs haven’t identified a successor for their position. If no plans are in place, an executive transition or retirement announcement can spark power struggles, confusion, a dip in productivity and morale, turnover, and a host of other problems.
Here’s how you can follow Ellison’s lead and plan for an executive transition that causes as little disruption as possible: