Top Accounting & Finance Trends to Watch in 2021

Throughout the coronavirus pandemic of 2020, accounting and finance professionals have dealt with significant changes to the way they work. One of the biggest was the sudden shift to working from in the office to the safety of home. This meant increased use of technology to communicate with coworkers, manage projects, and finish work. Another big change was the increased use of flexible staffing. Many employees took off work to care for dependents when schools and daycares closed. Others were unable to work because they contracted the virus. Bringing aboard interim professionals let business operations continue. Because of the efficiency that technology and flexible staffing provided, they will continue to be used on a wider scale in the new year.

Look for these four accounting and finance trends in 2021.

Cloud-Based Technology

The increasing number of remote accounting and finance professionals means more employers will implement cloud-based technology. This provides a flexible, secure way to store, share, and access real-time information among coworkers. Cloud-based technology allows organizations to efficiently operate without geographic constraints. This enhances project management functions and improves organizational communication. Accounting and finance professionals can more effectively manage large datasets to create sophisticated data analytics, detailed financial reporting, and more.

Blockchain  

More accounting professionals will have blockchain technology involved in their work. This distributed ledger uses a network of independent computers to record, share, and synchronize transactions into an unchangeable ledger—the technology strings together a transparent, fully trackable chain of events into a trustworthy, unalterable database. Accounting professionals use the blockchain to track ownership of assets, maximize internal workflows, and remain within budget. This technology aids in conducting in-depth audits and improves the traceability of events, resulting in greater accuracy of information.

Data Analytics

The use of data analytics is on the rise. They help accounting and finance professionals gain valuable financial insights, track client progress, and create accurate forecasting models. Data analytics also uncover operational inefficiencies and help make more informed decisions. This lets companies differentiate themselves from competitors.

Flexible Staffing 

More companies will have a mix of full-time and interim accounting and finance professionals. This provides both specialized expertise and the ability to scale their team without overworking permanent staff. Bringing aboard interim professionals lets businesses remain agile as they navigate economic uncertainty.

Source Top Accounting & Finance Professionals

The year 2021 will bring a multitude of changes to the accounting and finance industry. The rise of cloud-based technology, blockchain, and data analytics means greater accuracy and more informed business decisions. The use of flexible staffing lets organizations stay nimble and adapt to changing economic conditions.

When you need full-time or interim accounting and finance staff, turn to Casey Accounting & Finance Resources. Our consultants provide exceptional value while easing your workload, saving you time, and increasing profitability. Get in touch with us today.

The Impact of Employer Brand on Recruiting

Your employer brand plays a significant role in the types of employees you hire. When you clearly display your culture, staff, office, job openings, and other relevant information, candidates are better able to determine whether they see themselves working for you. In order to attract and retain the best talent, you must align your recruitment marketing plans with the professionals you want to hire. Currently, this includes millennials and Generation Z, as they comprise the majority of the workforce.

Here are three key strategies to focus your employer brand on recruiting millennials and Generation Z.

Revitalize Job Descriptions

Turn your job descriptions into compelling stories that engage your brand. Begin with a paragraph on how your company is changing the world. Then, create a paragraph about your team. Next, share how the open role contributes to the team and helps the company make an impact. Then, include details about the culture and location. Finally, link to your values, team site, video testimonials, and other supporting evidence showing why candidates want to work for your organization.

Involve Social Media  

Use social media to promote your brand. Since younger job seekers actively use social platforms when looking for work, be sure to advertise your openings on YouTube, Instagram, Facebook, and LinkedIn. These are the sites most commonly used by millennials, and Generation Z. Posting on social media validates the messages you send into the world. For instance, if you say your company values innovation, you can back it up with tweets about the tools you are developing, Instagram photos of your innovations, and video case studies on YouTube, Facebook, and LinkedIn.

Make Over Your Career Site

Overhaul your career site, so it is engaging, compelling, and mobile-friendly. Because younger job seekers go straight to the companies that are hiring, you need an authentic narrative to draw them in. For instance, include employee stories, photos, and videos of your office space. Also, share your company’s origin, story, mission, vision, and values. Plus, detail how you support staff with competitive compensation, benefits, and growth opportunities. Additionally, make your career site the hub of your social platforms, video content, job postings, company news, and other relevant information.

Targeting Young Accounting & Finance Professionals

Your employer brand has a significant impact on the employees you bring aboard. Because millennials and Generation Z make up the majority of the workforce, you want to cater to their interests when promoting your brand. This includes using social media to advertise openings, revamping job descriptions to make them more enticing, and overhauling your career site, so candidates want to work for you. When job seekers visualize themselves as part of your team, they are more likely to apply for a role.

When the time comes to hire accounting and finance professionals, partner with Casey Accounting & Finance Resources. We are dedicated to excellence through education and investing in our staff, so we provide the highest quality of performance for our clients. Learn more today.

Affirmations for Highly Motivated Workers in 2021

Looking for a little inspiration after the year that 2020 was? How about some characteristics and habits of great leaders and ways to embody them as we enter 2021? Even if you don’t manage people, you do manage YOU. So why not ditch some of the bad routines and embrace some new behaviors that will make you more productive in the workplace and have a better year.

“To be a good leader, you cannot major in minor things, and you must be less distracted than your competition. To get the few critical things done, you must develop incredible selective ignorance. Otherwise, the trivial will drown you.”

–Tim Ferriss, Bestselling Author, Host of The Tim Ferriss Show podcast

Habits to Break

First, let’s look at some habits that we should leave behind in 2020.

Jodie Cook, a social media influencer, recently contributed an article to Forbes on this topic. In the article, Cook offers these habits to break in the New Year:

  1. Snoozing your alarm – it’s a waste of time. Five minutes a day add up to 22 hours of your year.
  2. Always being switched on – we hear this quite a bit, right? This “purgatory” is messing up your sleep and your mindset.
  3. Going on autopilot – familiarity often means your brain switches to autopilot — leaving the house and driving to work. Practice being conscious and present and notice what you had missed.
  4. Being too available – if you are constantly available, you’ll train others to constantly need you. Set your available hours and be strict with them. Focus on deep work for the rest of the time. Train resourcefulness, not helplessness.
  5. Living in the future – See #3. If you’re not in the present, it’s difficult to achieve what needs to be done here and now. Dreaming is good but do that in your time off when you aren’t snoozing your alarm or being too available.

Behaviors to Embrace

Entrepreneur magazine offers a great and short slideshow on the 22 qualities that make a great leader. It’s worth looking at for ideas on what characteristics of great leaders you want to study.

Great leaders are known for confidence, focus, trustworthiness, passion, drive, and innovation to name a few. Maybe you’re looking at how you can be more patient, open-minded, positive, and persistent or how to empower others, even if you don’t manage them.

If you want to communicate where others truly listen while also improving collaboration with your colleagues, study how great leaders achieve this.

“You must love what you do. In order to be truly successful at something, you must obsess over it and let it consume you. You lead by example, not because you feel like it’s what you should do, but because it is your way of life.” — Joe Perez, Founder, Tastemade

Bring back some certainty in your life by adopting the behaviors of great leaders and maybe even influence better outcomes for your colleagues, friends, and family.

Take a moment before the end of the year and jot down how you want to start 2021. Maybe it goes a little like this:

Today is January 1st and I will __________________ because I want ____________________.

This doesn’t need to be War and Peace – just intentional. Post it at your desk and in your car. Type it into your screensaver on your laptop, tablet, and cell phone. Add it to your email signature. Update it when you want to be intentional about something else. Be accountable and believe in yourself.

Have a happy and productive 2021!