Boost Your Hire Quality with Employee Referrals

Asking your employees to recommend members of their network for job openings is an effective hiring method. Each employee who refers a candidate who becomes a new hire and remains for a set time typically receives an incentive.

An employee referral typically fits with your organization better than a non-referred candidate. As a result, employee referrals boost your hire quality.

Discover how employee referrals boost your hire quality.

Employee Referrals Have High Conversion Rates

A candidate with no connection to your company must undergo extensive screenings and interviews to determine their qualifications and fit with company culture. In contrast, an employee referral has a personal connection with your workforce. Therefore, the employee can provide extensive details about the referral’s background, qualifications, and fit with company culture. As a result, employee referrals typically receive more job offers for roles that non-referred candidates apply for.

Employee Referrals Decrease the Time to Hire

Hiring a non-referred candidate takes longer than hiring an employee referral. For instance, a non-referred candidate must undergo resume screening, extensive interviews, and background checks before potentially receiving a job offer.

In contrast, an employee referral has an employee advocate. Therefore, the employee can attest to the referral’s knowledge, skills, and experience. Also, because most people spend time with others who have similar personalities, the referral is likely to fit with your company’s culture. As a result, the referral typically needs a short interview process before potentially receiving a job offer.

Employee Referrals Strengthen Attraction and Retention Rates

An employee referral tends to remain with your company longer than a non-referred employee. For instance, an employee referral already knows a member of your workforce. Having personal ties to an organization encourages the employee to remain long-term.

Conversely, employees who lack personal ties from Day 1 can struggle to adapt to their new role and the culture. Therefore, if the employee does not form work relationships for guidance and support, they likely will not remain loyal to your company.

Employee referrals typically have higher job satisfaction than non-referred employees. For instance, an employee referral likely received accurate information about the company structure, culture, job duties and responsibilities, expectations, and other relevant details. As a result, the referral should understand what to expect and remain for several years.

In contrast, a non-referred employee might have received inaccurate information or misinterpreted the information. Therefore, the employee’s experience might not match their expectations. As a result, the employee likely will look for a new job within a short time.

Would You Like Help Boosting the Quality of Your Hires?

Employee referrals have high conversion rates, decrease your time to hire, and typically remain long-term. As a result, you save time and money on hiring, onboarding, and training.

Similar to employee referrals, Casey Accounting & Finance Resources can provide you with accounting and finance candidates to boost the quality of your hires. Connect with us to find out more today.

Using the Five Cs Framework for Onboarding Success

Using the Five Cs framework increases onboarding success. These steps include compliance, clarification, culture, connection, and checkbacks.

A well-designed onboarding process helps a new hire adjust to their role and the company’s culture. Effective onboarding elevates employee engagement, productivity, and performance. These factors strengthen job satisfaction, employee morale, and attraction and retention rates.

Importance of Employee Onboarding

Your onboarding process introduces new hires to their roles and the company’s culture. These steps help new employees become familiar with the people, tools, and resources they will work with.

The onboarding process helps a new hire feel valued and engaged from the first day. For instance, the process introduces a new employee to their colleagues, coworkers, job duties, and responsibilities. These activities help new hires assimilate with their team and the culture.

A new hire who feels welcome and engaged from Day 1 is likely to remain with your organization long-term. As a result, an effective onboarding process saves significant time and money on hiring and training employees.

Understanding the Five Cs Framework for Onboarding

  1. Compliance involves educating a new hire on company policies and procedures. This process includes a formal orientation involving employment paperwork, departmental procedures, safety regulations, and confidentiality agreements.
  2. Clarification involves specifying a new hire’s job duties, responsibilities, and performance expectations. This process includes describing the role within the organization and introducing team members, the reporting manager, and role-related goals.
  3. Culture refers to the company’s mission, vision, and values and how they are carried out. For instance, an HR professional might provide each new hire with an employee handbook with information on the company’s history and policies. Also, HR could provide training on diversity, equity, and inclusion so the new hire feels welcome and safe in the workplace.
  4. Connection helps a new hire build relationships with their manager and teammates. Creating a sense of belonging enhances engagement, collaboration, and loyalty to your company.
  5. Checkback includes meeting with a new hire, their manager, and other relevant stakeholders to ask and answer questions and receive constructive feedback on the onboarding process. These activities uncover whether the process is delivering the intended results. Then, you can make relevant adjustments for increased success.

Would You Like Help Enhancing Your Onboarding Process?

Following the Five Cs framework of compliance, clarification, culture, connection, and checkbacks increases onboarding success. For instance, an effective onboarding process helps a new hire feel valued and engaged from the first day. A new hire who feels welcome and engaged from Day 1 is likely to remain with your organization long-term. As a result, you save significant time and money on hiring and training employees.

Casey Accounting & Finance Resources can provide you with guidance and support to enhance your employee onboarding process. Reach out to us to learn more today.

How Human Skills Are Reshaping Hiring Priorities

Human skills are reshaping hiring priorities. Many companies are transitioning from competency-based hiring to skills-based hiring for more effective results.

Adopting a skills-based approach to hiring lets companies capitalize on the potential of their workforce and external candidate pools for greater operational efficiencies. This approach provides opportunities for nontraditional employees to work for the organizations and helps optimize team and organizational performance.

Adopting a Skills-Based Approach to Hiring

Most CEOs say there is a global skills shortage but not a people shortage. As a result, many companies are switching from a competency-based model to a skills-based approach to hiring.

Implementing a skills-based approach to hiring lets an organization capitalize on the potential of its workforce and external candidate pools to support operational efficiencies. This approach is significantly more effective than a competency-based hiring model.

Breaking Down Skills-Based Hiring

Skills-based hiring breaks down job duties, responsibilities, and tasks into a set of skills and capabilities. Then, HR professionals use AI-based technology to match skills to roles, training sessions, and opportunities. These activities expand external talent pools and increase organizational capacity through hiring.

Differences Between Skills-Based Hiring and Competency-Based Hiring

Traditional competency models rely on static skills databases, disconnected systems, and inefficient interfaces. Therefore, companies manually make hiring decisions based on anecdotes and assumptions. As a result, leaders typically focus on candidate education and work experience to make hiring decisions. These factors leave out current and potential employees with untapped potential.

In contrast, a skills-based model relies on data and insights to make hiring decisions. As a result, current and potential employees increase their career opportunities, and companies elevate their operational capacity.

For instance, candidates without access to colleges and universities might complete technical boot camps or certification programs. If these candidates apply to companies with a competency-based hiring model, they likely will be removed from the application process because they do not have college degrees. Conversely, if these candidates apply to companies with a skills-based hiring model, they can be accurately and equitably matched to roles based on their capabilities. Therefore, hiring based on skills opens doors for nontraditional employees and eliminates barriers to entry.

Business Case for a Skills-Based Approach to Hiring

Using a skills-based hiring model provides employees with personalized career plans and information about required skill development for learning and growth. This model also shows managers which skills their teams lack. Then, managers can determine whether to provide relevant training to upskill or reskill their employees or to hire external talent.

Would You Like Help with Skills-Based Hiring?

Adopting a skills-based approach to hiring lets you capitalize on the potential of your workforce and external candidate pools to support operational efficiencies. This approach opens doors for nontraditional employees and eliminates barriers to entry.

Casey Accounting & Finance Resources can provide you with skilled accounting and finance candidates to help you reach your company goals. Contact us to learn more today.

Strategies for Sustaining Business Growth in a Hiring Slowdown

Sustaining business growth in a hiring slowdown can be challenging. Helping your company move forward often requires adding additional members to your team.

Fortunately, you can take steps to sustain business growth during a slowdown in hiring. These suggestions can help.

Choose among these strategies to sustain business growth in a hiring slowdown.

Focus on Long-Term Stability

Show company leaders that employee growth is essential for long-term stability. Employees need ongoing opportunities for training to increase the value they provide your organization.

Without these opportunities for career growth, many employees will seek jobs elsewhere. The effects on your team and organization would be especially detrimental during a hiring slowdown.

Demonstrate the Return on Investment of Employee Development

Show company leaders that investing in employee development helps increase profits. For instance, software tools that impact your human resources, accounting and finance, marketing, and operations departments offer cost-effective upskilling methods to benefit your workforce.

Upskilling increases your employees’ ability to secure other positions within your organization. The results include:

  • Better engagement
  • Greater productivity
  • Increased performance
  • Higher employee morale
  • Stronger attraction and retention rates
  • Lower hiring, onboarding, and training costs

Strengthen Company Culture

Emphasize camaraderie and connection in your training programs. Build company culture and loyalty while you support employee learning and development.

For instance, offer in-person and remote Lunch and Learns. Employees can enjoy a meal together, engage in professional development, and learn from each other. These activities support relationship-building, collaboration, and cohesion.

Emphasize Employee Recognition

Managers should point out specific employee contributions, results, and impact on the company. These activities show that employees are valued and respected members of the organization. As a result, employees are likely to continuously improve their performance to add more value to the company.

Would You Like Help with Hiring After the Slowdown?

Strategies for sustaining business growth during a hiring slowdown include focusing on long-term stability, demonstrating the ROI of employee development, strengthening company culture, and emphasizing employee recognition. Prioritizing these activities helps maintain your company’s competitive edge without adding to your workforce.

If you would like help with hiring accounting and finance professionals after the slowdown, get in touch with Casey Accounting and Finance Resources. We can provide you with qualified candidates to help reach your business goals.

Compassionate Employee Termination: A Manager’s Guide

Employee termination is not an easy task. However, the process is necessary to maintain the health of the company.

Understanding compassionate employee termination can help managers navigate this difficult conversation. Following these guidelines can help maintain professionalism and respect during the discussion.

Use this manager’s guide to help make the process a bit easier.

Prepare for the Conversation

Review the employee’s performance and behavior. Include documented incidents, issues, conversations, warnings, and performance reviews that contributed to the termination. Examples include poor performance or violation of company policies.

Understand your company’s policies and procedures for employee termination. Also, plan how you will handle the logistics of the employee’s departure.

Consider the impact of the employee’s termination on the rest of your team and the organization. Include how quickly the employee should be replaced to maintain business operations.

Communicate the Employee’s Termination

Clearly and directly communicate with the employee about their termination. Focus on avoiding confusion or misunderstanding:

  • Clarify the reason for the employee’s termination.
  • Provide specific examples of the employee’s behavior or performance that contributed to your decision.
  • Remain professional, respectful, and compassionate throughout the conversation.
  • Be mindful that how you navigate the discussion can impact team morale.

Listen to the Employee

Encourage the terminated employee to share their thoughts and feelings about the situation. Focus on understanding their point of view. These actions help alleviate tension and emotions and maintain respect and dignity during the conversation.

Understand that the employee might react with anger when they receive the news of their termination. They might argue or disagree with your decision. Remember to handle these reactions with professionalism, compassion, and respect.

Offer Resources and Support

Share with the terminated employee resources and support to help them transition to their next steps. This process might include:

  • Providing information about unemployment benefits
  • Offering to write a letter of recommendation
  • Connecting the terminated employee with job search resources

Follow Up

Ensure the company takes the necessary steps to move forward after the employee’s termination. Examples include:

  • Updating the terminated employee’s payroll and benefits information.
  • Ensuring other paperwork is completed.
  • Notifying others that the employee no longer is with the organization.

Do You Need to Replace a Terminated Employee?

Compassionate employee termination involves preparing for the conversation, communicating the termination, listening to the employee, and offering resources and support. Following up to ensure the termination process is properly completed helps your team and organization move forward.

If you need to replace an accounting and finance professional, contact Casey Accounting and Finance Resources. We can match you with qualified candidates who fit your goals and needs.

CSR’s Ripple Effect on Branding and Recruitment

Corporate social responsibility (CSR) has a ripple effect on a company’s branding and recruitment efforts. This management concept describes how an organization contributes to the well-being of communities and society through environmental and social measures.

CSR is a strategic method to enhance employer brand and help attract and retain top talent. Organizations that prioritize CSR stand out from the competition and appeal to new generations of employees. The results include a more attractive business reputation, stronger relationships with stakeholders, and a more sustainable and equitable future.

Why You Shouldn’t Neglect CSR

Core CSR Responsibilities

The three main CSR responsibilities help a company positively impact the environment and society. These responsibilities include:

  1. Adopting ethical business practices to ensure transparency, fairness, and integrity in business operations. Adhering to legal regulations, respecting human rights, and avoiding exploitative or harmful practices.
  2. Actively working toward environmental sustainability. Implementing eco-friendly practices, conserving resources, and minimizing pollution to reduce the company’s ecological footprint. Embracing renewable energy, reducing waste, and supporting conservation efforts.
  3. Engaging in philanthropic activities to give back to the community. Supporting social causes, educational initiatives, healthcare programs, or other projects that benefit society.

Categories of CSR

CSR typically falls into four categories:

  1. Ethical labor practices: Treating employees fairly and ethically.
  2. Environmental efforts: Taking steps to reduce a company’s carbon footprint.
  3. Philanthropy: Donating money, products, or services to nonprofit organizations.
  4. Volunteerism: Employees donate their time to local causes and community events.

Examples of CSR

CSR can take forms such as:

Importance of CSR

Many companies prioritize CSR for different reasons:

  • Improved brand: Many stakeholders look for socially conscious organizations to work for or conduct business with.
  • Stronger employee attraction and retention: Millennials and Gen Z are among the employees who want jobs with companies that emphasize people, planet, and revenue.
  • Investor appeal: Demonstrating a developed CSR program and initiatives helps attract and retain investors.

CSR for Branding and Recruitment

Employer branding is the perception of a company as a place to work. This branding reflects the organization’s culture and employee experience.

Strong employer branding helps differentiate the company from its competitors. Showing why the organization stands out helps recruit and retain qualified candidates. The results include:

  • Higher employee engagement
  • More productivity
  • Increased performance
  • Greater job satisfaction
  • More team cohesion
  • Better collaboration
  • Elevated employee morale
  • Greater innovation
  • Lower recruitment, onboarding, and training costs
  • Stronger bottom line
  • Bigger competitive advantage

Need Help to Recruit and Retain Accounting and Finance Employees?

CSR has a ripple effect on employer branding and employee recruitment and retention. Companies that contribute to the well-being of communities and society through environmental and social measures are more attractive to employees, customers, and other stakeholders than companies that do not engage in these activities. As a result, businesses that prioritize CSR typically have strong employer brands and high employee recruitment and retention rates.

Partner with Casey Accounting and Finance Resources for help with recruiting and retaining accounting and finance employees. Find out more today.

Four Underrated Skills to Seek in Today’s Accounting & Finance Professionals

Knowing which skills to look for when interviewing accounting and finance professionals helps narrow down your candidate list. Targeting candidates with the knowledge, skills, and experience you are looking for helps add the right talent to your team.

Focusing on underrated skills in today’s accounting and finance professionals helps find the most effective candidates who can add value to your organization. The results include a stronger bottom line and increased business growth.

Seek these four underrated skills when interviewing today’s accounting and finance professionals.

1. Open-Mindedness

Accounting and finance professionals who are open-minded can effectively collaborate with colleagues and coworkers. These professionals consider new ways of approaching things to increase efficiency and productivity.

Open-minded people listen to others’ ideas, perspectives, and input. They use this insight to make more effective business decisions.

2. Emotional Intelligence

Accounting and finance professionals with emotional intelligence are in touch with their feelings and exhibit strong social skills. These professionals ask questions to gather information, look beyond the facts, and use a human-centered approach to make decisions based on the bigger picture.

People with high emotional intelligence typically perform well at work. These professionals are equipped to communicate effectively, handle difficult situations, and stay motivated to attain their goals. They also can facilitate difficult conversations and implement constructive feedback to improve their performance.

3. Story Telling

Accounting and finance professionals who use stories to discuss the numbers help relate the company’s financial performance to individual employees and teams. Explaining how an employee’s or team’s performance impacts the company’s numbers encourages the individual or team to improve their performance. The results may include increased revenue, decreased expenses, and a stronger bottom line.

4. Implementation of Feedback

Accounting and finance professionals who embrace constructive feedback prioritize learning and growth. They want to improve their performance to take on bigger challenges and opportunities. The more knowledge, skills, and experience these professionals gather, the more effectively they can secure promotions for career growth.

Are You Looking for Accounting and Finance Professionals?

Open-mindedness, emotional intelligence, story-telling, and feedback implementation are four underrated skills you should seek in employees. Hiring candidates with these skills helps add value to your team and organization.

If you need help adding qualified professionals to your team, contact Casey Accounting & Finance Resources. Reach out today.

Communication Practices to Incorporate in Your Organization Today!

Effective communication practices in your organization promote employee relationships, team bonding, and a positive work environment. These practices also elevate employee engagement, performance, and productivity. The results include greater job satisfaction, higher employee morale, and increased attraction and retention rates.

Strong communication practices elevate collaboration and your bottom line. As a result, you should implement effective practices in your organization today. These strategies can help.

Start incorporating these communication practices into your organization today.

Develop a Communication Plan

Consider where your organization’s communications are now, how they can improve, and when you want to start to see results. Then, use your answers to develop a strategy to move toward your goals. Include timelines and measurements for success.

Implement Communication Tools

Use relevant technology to reach your communication goals. Include communication software and systems that your employees will understand and use. Examples include cloud-based technology, videoconferencing, and group chats.

Promote Collaboration

Encourage managers to have their teams collaborate on projects. Inter-departmental teamwork helps employees get to know and learn from each other. The results include increased cohesion and productivity among your workforce.

Ensure Understanding

Ensure your organization’s communication practices include clear, concise exchanges of ideas, information, and input. These verbal or written exchanges should use plain language and enough detail to facilitate understanding. Clear exchanges encourage employees to take action based on the information.

Encourage Feedback

Ask employees at all levels to provide constructive feedback on your communication practices. For instance, you might send out an employee survey, encourage managers to discuss communication practices during team meetings or organize group chats to request open, honest input.

Determine which communication practices are working, which need to be improved, and specific steps to do better. Then, implement the most effective ideas to improve your organization’s communication practices.

Start Incorporating Communication Practices into Your Organization

Develop a communication plan, implement communication tools, and promote collaboration to incorporate better communication practices in your organization. Also, request employee feedback to determine how well your practices support understanding and how they can be improved.

When adding experienced accounting and finance professionals to your team, include Casey Accounting & Finance Resources in your hiring process. Learn more today.

I-9 Verification Is Changing: What You Need to Know

The temporary COVID-19 accommodations for Form I-9, Employment Eligibility Verification that the U.S. Immigration and Customs Enforcement (ICE) created in March 2020 expire on July 31, 2023. As a result, employers who have been remotely inspecting the identity and employment authorization documents of employees who work remotely have up to 30 days to inspect these documents after the accommodation period ends physically.

Employers have until August 30, 2023, to physically inspect the original I-9 documents that were inspected remotely under the temporary policy. Exceptions include if a physical inspection was triggered earlier under the temporary accommodations.

Find out what you need to know about the changes to I-9 verification.

Information About the Temporary I-9 Verification Policy

Due to the onset of the coronavirus pandemic and social distancing requirements, the Department of Homeland Security (DHS) let ICE provide temporary accommodations to remotely verify the identity and employment authorization documents of employees who were working remotely:

  • I-9 documents could be remotely verified through video, video link, fax, or email until the employee stopped working remotely or until July 31, 2023, whichever came sooner.
  • These accommodations end on July 31, 2023.
  • I-9 documents that were inspected remotely under the temporary policy must be inspected in person by August 30, 2023.

Alternative Procedures to Verify I-9 Documents in Person

DHS plans to develop a regulation that allows alternative procedures to verify I-9 documents:

  • An employer with employees working remotely can have an authorized representative complete the in-person verification of the identity and employment documents.
  • This verification must be consistently done in a non-discriminatory manner.
  • DHS will establish a regulation regarding these alternative procedures for I-9 verification.
  • A proposed regulation was published in August 2022.
  • The public comment period for the regulation closed on October 17, 2022.
  • DHS is reviewing the feedback and will publish a final regulation later in 2023.

Do the I-9 Verification Requirements Impact Your Accounting and Finance Team?

The temporary COVID-19 accommodations for Form I-9 that ICE issued in March 2020 expire on July 31, 2023. Employers who have been performing remote I-9 inspections have until August 30, 2023, to physically inspect the identity and employment authorization documents of employees who were hired to work remotely. DHS will provide a regulation in 2023 that lets employers have an authorized representative complete the in-person verification process for employees who continue to work remotely.

When you need to add qualified professionals to your team, turn to Casey Accounting & Finance Resources for assistance. Learn more today.

Words NOT to Use as a Manager

As a manager, monitoring how you say things to your employees is important. You want to be respectful and encourage your team to remain open-minded, creative, and innovative.

How you say things to your employees can have long-lasting effects. Therefore, there are words and phrases you should avoid using when speaking with your team. The following are five examples.

As a manager, these are words NOT to use when talking with your employees.

Obviously

Most things are not obvious to everyone. Therefore, using the word “obviously” can put your employees on the defensive. As a result, they are unlikely to effectively listen and respond to what you say.

I Think

Saying “I think” discredits your opinion and diminishes your authority. For instance, saying “I think we should implement this strategy” is less powerful than saying “We should implement this strategy.” Your tone also remains more open and engaging by not using these two words.

Should

Using the word “should” leads to ambiguity. Your employees may be unsure about what you mean.

For instance, if you say to an employee, “Don’t you think we should do that?”, they might say they agree with you even if they do not. Instead, you could say, “Let’s do X because of Y. Do you agree or disagree and why?”

Can’t

Although there are limitations on what your team can do, avoid saying they “can’t” do something. Instead, work with your employees to develop innovative ways to accomplish something that would benefit the company. Changing the focus to creatively solve problems encourages your team to continue moving forward.

I Don’t Have the Time

Telling your employees that you “don’t have the time” to do something suggests they are not important to you. This implication can lead to disengagement, reduced performance, and lower productivity.

If what you are doing truly cannot wait, ask your employee whether you can schedule a time to discuss the issue. Providing support shows you value and respect your employees.

Do You Need Help with Hiring?

Understanding which words and phrases not to use as a manager helps facilitate open communication with your team. Knowing how to focus on more positive language inspires your employees to remain open-minded, creative, and innovative.

If you need help hiring accounting and finance professionals, get in touch with Casey Accounting & Finance Resources. Learn more today.