The Important Role Feedback Can Play for Employee Engagement

Feedback plays an important role in employee engagement. Sharing concrete examples of what an employee does well, how they could do better, and specific steps for improvement helps elevate performance.

Employees who implement feedback given understand exactly what they are working toward. As a result, these employees are likely to stay engaged as they finish their tasks. The results elevate your bottom line.

Discover the important role feedback can play in employee engagement.

Ongoing Communication

Feedback requires regular communication with your employees. Sharing ideas, perspectives, and suggestions to approach tasks helps minimize conflict and elevate performance.

Ongoing communication helps your employees feel heard and respected. As a result, your employees should effectively collaborate and remain engaged as they work toward their goals.

Employee Motivation

Sharing feedback shows you want the best for your employees. Therefore, your employees should feel valued and appreciated. They also should be motivated to stay engaged in their work as they improve their performance.

Minimal Errors

Sharing feedback helps ensure tasks are completed correctly. Not having to go back and fix mistakes saves significant time and money. The results include greater performance and productivity.

Stronger Leadership

The implementation of feedback helps your employees become more focused leaders. Leadership development is an effective method to increase employee engagement, performance, and retention.

Employees who consistently receive feedback can elevate their performance. As a result, these employees can take on additional responsibilities, grow into more senior roles, and provide additional value for your organization.

Tips to Provide Feedback

Implement these tips to properly provide feedback to your employees:

  • Provide specific examples of what your employee does well and what areas they could improve.
  • Include as many details as possible.
  • Remain nonjudgmental.
  • Focus on coaching to improve performance.
  • Show you have the employee’s best interest in mind.
  • Encourage your employees to engage during feedback conversations.

Do You Need to Hire Accounting and Finance Employees?

Feedback can play an important role in employee engagement. For instance, implementing feedback supports ongoing communication and provides motivation to improve performance. Also, regular feedback provides guidance to minimize mistakes and a strong foundation for leadership. These results help strengthen your bottom line.

If you need help with hiring accounting and finance employees, include Casey Accounting & Finance Resources in your process. Reach out to us to learn more today.

Interview Red Flags to Be Mindful of When Hiring

Being mindful of red flags when interviewing helps you make effective hiring decisions. Adding the right candidates to your accounting and finance team helps reduce hiring, onboarding, and training costs.

Discovering red flags during the interview process decreases the number of candidates who advance to the next step. Narrowing down your candidate pool helps you make more informed hiring decisions.

Be mindful of these four interview red flags when hiring.

1. Disinterest in the Job

A lack of interest in the role indicates the candidate likely does not anticipate remaining with your organization long-term. The candidate might just want an income source until they can find a position that better fits their interests.

If the candidate cannot provide a clear source of motivation to work for your company, they likely do not care enough to stay for an extended time. Therefore, you should focus on other candidates instead.

2. Speaking Negatively of Previous Employers

A candidate who shares negative opinions of previous managers, colleagues, or coworkers might be difficult to work with. The candidate could have a poor work ethic, lack accountability for their actions, or have difficulty getting along with others. As a result, you should continue to look for a different candidate.

3. Lack of Questions During the Interview

A candidate who asks questions during an interview is interested in the job and company. They want to learn as much as they can to determine whether the role and organization are a good fit for their goals and qualifications.

As a result, a candidate who asks no questions likely is not invested in working for your company. Therefore, you should find other candidates to interview.

4. Questionable References

An inability to reach any of the references a candidate provided suggests the references might be fictional. Because professional references are highly responsive, you should be able to get a hold of them within a reasonable amount of time.

Listing questionable references implies the candidate might have poor interpersonal skills and be difficult to work with. As a result, you should focus on other candidates instead.

Would You Like Help with Interviewing?

Be mindful of interview red flags such as disinterest in the job, speaking negatively of previous employers, a lack of questions during the interview, and providing questionable references. Candidates who display any of these issues might not be a good fit with your organization. Therefore, you should look for other candidates who could provide more value to your company.

Casey Accounting & Finance Resources is available to help you interview accounting and finance professionals. Contact us today to get started.

Four Ways You Can Support Your Employees and Their Mental Health

Increasing sources of stress at work and at home are adversely impacting employees’ mental health. As a result, many employees are struggling with anxiety, depression, and other mental health concerns. Ongoing exposure to stress can lead to burnout.

As an accounting and finance manager, you must take steps to support your employees and their mental health. These suggestions can help.

Choose among these four ways to support your employees and their mental health:

1. Model Healthy Behaviors

Demonstrate healthy behaviors you would like to see in your employees. Examples include prioritizing self-care and maintaining boundaries.

For instance, you might share that you are taking a walk to clear your head, engaging in a therapy appointment after work, or planning a staycation for the following week. These behaviors support mental health and help prevent burnout.

2. Offer Flexibility

Provide your employees with the flexibility required to fill their changing personal needs. Examples include working remotely, having a flexible schedule, and taking additional time off as needed.

Regularly talk with your employees as they go through transition points. Find out whether your employees require additional support and how you can help them out.

3. Support Employee Connections

Regularly check in with your employees to see how they are doing. For instance, find out how your employees are handling their workloads, whether they have any questions or concerns, and whether they have any issues to address. Also, ask whether your employees require additional support and how you could best provide it.

Actively listen to your employees. Also, ask follow-up questions to gather more information. Additionally, repeat what you heard to check your understanding. Plus, respond with empathy.

4. Normalize Mental Health Discussions

Talk with your employees about mental health concerns. Because virtually everyone experiences problems with their mental health at some point, open discussions help reduce the stigma.

Be honest about your own mental health struggles. Include your methods for gaining support, such as taking antidepressants and seeing a therapist twice weekly.

Create a safe space for your employees to share their own mental health issues. Provide as much support as possible.

Discuss employee benefits that provide mental health support. Examples include employee resource groups (ERCs), meditation groups, and counseling services.

Do You Need Hiring Support?

Modeling healthy behaviors, offering flexibility, supporting employee connections, and normalizing mental health discussions help support your employees and their mental health. These actions increase employee engagement, performance, and productivity. The results include greater job satisfaction, employee morale, and attraction and retention rates.

If you are struggling to hire qualified accounting and finance professionals, Casey Accounting & Finance Resources can provide support. Reach out to us today.

Is Your Hiring Process Too Long? Six Strategies to Speed it Up.

Is your hiring process getting in the way of hiring the best candidates? Sometimes, we get into a hiring rut, and those bad habits may be preventing you from making a great hire.

How can you shorten your hiring process? “One of the first lessons I learned as a young recruiter was, ‘Time kills all deals,’” according to Mary Newgard, a senior search consultant. “Rarely do candidates or hiring managers mean to slow down the process, but it happens.”

Newgard offers these six ways to “push the pace in the hiring process.”

  1. Give Permission to Abandon Your Process. If you find a great candidate and the hiring manager believes the candidate is a great fit, go ahead and make an offer. Don’t lose good people because they haven’t gone through two or three rounds of interviews.
  2. Write Simple, Easy to Update Job Ads. You want your job ads to deliver qualified candidates. Keep the ads short. Make sure to add specific job qualifications and then post it. This more condensed version of the job ad can be quickly updated or refined during the search or for the next similar position.
  3. Deputize One Person to Screen Resumes. Having one person screen resumes provides consistency in selecting candidates for interviews.
  4. Automate Information Gathering. Consider what processes in the hiring process can be automated – correspondence emails, critical screening information, and some interview questions. Don’t let more than 24 hours pass between communications with ideal candidates.
  5. Scripting Interviews. Your hiring managers aren’t HR generalists, too. They may not know all the interview rules. Providing a script or list of Do’s and Don’ts prepares hiring managers, keeps interviews on track, and avoids EEO issues.
  6. Combine Hiring Teams for Similar Positions. For similar job openings, combine job ads and interview activity as much as possible.

Be prepared to move quickly with hiring decisions by having salary ranges, optional benefits, and other negotiating points at the ready. This will prevent more time wasted.

If you don’t want the hiring process to linger on and on, review your hiring processes and see where you can abbreviate steps. In this era of “instant gratification,” job seekers crave constant communication and a quicker process. Look for opportunities that will improve your hiring process.

We Can Help With Your Open Positions

Slowing down the hiring process costs time and money, and you might lose out on top talent.

If you want better results, talk with a Casey Accounting & Finance Resources team member today.

Tactics to Become a Stronger Active Listener with Your Workforce

Becoming a stronger active listener with your workforce is essential for business success. The rise of remote and hybrid work makes this skill more important than ever.

Your ability to read, interpret, and respond to verbal and nonverbal cues supports employee engagement, job satisfaction, and performance. These skills also increase employee productivity and attraction and retention rates.

As a result, you should take steps to develop your active listening skills. These suggestions can help.

Choose among these tactics to become a stronger active listener with your workforce.

Minimize Distractions

Reduce noise, interruptions, and other external distractions as much as possible. Also, put aside anything you may have been thinking about so you can focus on what your employee has to say.

Maintain Appropriate Body Language

Make appropriate eye contact and keep an open posture during the conversation. Also, nod your head to show you are actively listening.

Focus on Nonverbal Cues

Pay attention to the explicit and implicit information you receive. The employee’s tone of voice, facial expressions, and body language indicate the motivation and emotions behind the words expressed.

Repeat What You Heard

Show you are listening by sharing the last few words you heard. This action helps keep you focused during the conversation. It also lets you pause to collect your thoughts before replying.

Ask Follow-Up Questions

Gather more information by asking for more details about the topic. Asking additional questions ensures you have the complete picture and understand the message.

Wait for Your Turn to Respond

Focus on what your employee is saying before you respond. Ensure you have sufficient information and understand the situation before you reply.

Monitor Your Emotions

If you feel your emotions rising, slow the pace of the conversation. Also, focus on measured breathing to calm your reaction.

Avoid saying something that might cause your employee to disengage, you to tune them out, or an argument to begin. Instead, ask to pause the conversation so you have time to think about the topic. Then, set a time to calmly pick up where you left off.

Do You Need to Add to Your Accounting and Finance Team?

Minimizing distractions, maintaining open body language, and focusing on nonverbal cues help you become a stronger active listener. Repeating what you heard, asking follow-up questions, and waiting to respond help you pay attention to the message and appropriately answer.

If you want help with finding qualified accounting and finance employees, turn to Casey Accounting & Finance Resources. Get in touch today.

Salary Trends to Be Mindful of as 2023 Concludes

Heading into the last few months of the year, you should continue to be mindful of salary trends in the accounting and finance industry. You can use Casey Accounting & Finance Resources’ July 2023 salary data as a guide.

Using our salary survey list with updated facts, figures, and job descriptions for accounting and finance positions in the Chicago metropolitan area can help you understand what salary expectations should be. Being mindful as these salary trends continue to change helps employers present the best offer to job applicants.

What trends should you monitor?

Expectations of Higher Salaries and More

Inflation is one factor driving higher salaries for accounting and finance professionals. Because additional income is required to keep up with the increasing cost of living, these professionals want their employers to provide support.

Back in 2021 when there were so many job openings, demand for higher salaries was a key trend in recruiting accounting and finance professionals along with many other positions. Today companies might find jobs are harder to fill because candidates are not as willing to make a move right now as a result of a slower economy and accelerated inflation rates. So it is not that the talent isn’t there, it just has to be a perfect storm for them to make a move.

Increasing workloads are an additional factor elevating the desire for higher accounting and finance salaries. Rising turnover means the remaining employees must take on additional tasks until a replacement is hired. These employees want to be compensated accordingly, too.

Employers are re-evaluating their benefits package to encourage skilled talent to work for them long-term.

Generational Expectations and Technology Change the Recruitment Landscape

Communication, adaptation, and continuous learning are among the most in-demand skills in the industry. Also, treasury and accountancy support are among the roles that require skilled professionals. Monitoring applicant needs by generation can help you develop a robust and diverse workforce. Boomers have different needs and expectations from their employers than Gen-Z workers. The days of “one-size-fits-all” employment packages are long gone.

The rise of blockchain, artificial intelligence (AI), and reliance on technology means many accounting and finance tasks are now automated to increase productivity. Therefore, considering candidates with skills that complement these tasks will most likely negotiate higher salaries that blend their accounting and finance acumen with their technology expertise.

Do You Need Additional Guidance on Salary Trends?

Accounting and finance professionals in 2023 expect higher salaries due to inflation, increasing workloads, and the specialized skills businesses need for growth.

If you need additional help with salary information or negotiations, reach out to Casey Accounting & Finance Resources. Get in touch today.

Interview Questions That Can Help You Unearth Chicago’s Top Talent

Asking interview questions that generate thought-provoking answers helps you unearth Chicago’s top talent. Posing outside-the-box queries helps a candidate share distinctive answers that provide unique insight into their personality, instincts, and soft skills.

A candidate’s ability to think on their feet and manage unexpected challenges is essential for success in a role. Asking these unusual interview questions helps determine a candidate’s ability to excel.

Choose among these interview questions to help you unearth Chicago’s top talent:

How would you describe yourself in one word?

Asking a candidate to summarize herself or himself with one adjective is challenging. This activity is especially difficult when the candidate is put on the spot.

The goal of this question is to see how well a candidate thinks on their feet and outside their comfort zone. You may want to follow up by asking the candidate to describe herself or himself with a negative adjective. The candidate’s ability to admit a flaw demonstrates self-awareness and the desire to improve.

Tell me about an interesting experience you recently had.

The candidate’s answer provides insight into what they like, dislike, and value. Creative thinking inspires engagement in conversation and analysis to determine what is possible.

Look for curiosity and creativity in the candidate’s answer. These traits show the candidate can make ongoing contributions to your organization.

What is your biggest pet peeve?

Find out what irritates the candidate and how they handle minor frustrations. Focus on whether the candidate is easily upset and whether their pet peeves often show up within the role. Use this information to determine what working with the candidate would be like and whether they would be effective in the position.

What is your definition of success?

Uncover the candidate’s personal vision and what they could add to your company’s culture. Look for a well-defined sense of purpose and how it blends with your organization’s mission, vision, and values.

Include whether the candidate is motivated by personal gain or collective causes. Also, focus on whether their perspective aligns with your team. Use your findings to determine whether the candidate would be right for the role.

Are You Ready to Unearth Chicago’s Top Accounting and Finance Talent?

Asking out-of-the-box interview questions helps you uncover unique insight into a candidate’s personality, instincts, and soft skills. A candidate’s ability to think on their feet and manage unexpected challenges is essential for success in a role.

If you need help recruiting Chicago’s top accounting and finance talent, turn to Casey Accounting & Finance Resources. Find out more today.

The Value Contract Employees Can Bring to Your Organization

Adding contract employees to your accounting and finance team provides value for your organization. Because of the flexibility contract roles provide, more employees are choosing these roles over full-time employment. As a result, you have an increasing pool of professionals to choose from.

Hiring contract accounting and finance employees provides you with access to specialized skills needed to take on additional projects. The reduced cost helps improve your bottom line.

Discover the value contract accounting and finance employees can bring to your organization:

Greater Flexibility

Adding contract employees to your accounting and finance team increases flexibility in your hiring process. The main reason is that you can hire a contract employee faster than you can hire a full-time employee:

  • The staffing agency recruiter sends you a small number of vetted candidates to interview.
  • You offer a contract to the desired candidate.
  • The recruiter negotiates the contract on the candidate’s behalf.
  • The contract employee goes through an accelerated onboarding and training process to begin producing.
  • When the contract ends, the employee can secure a contract with another company.
  • Your full-time employees remain busy without feeling overwhelmed.

Specialized Skills

Hiring contract employees can provide you with candidates who have niche accounting and finance skills:

  • The contract employee can help fill your team’s skills gap.
  • You can take on additional projects that require hard-to-find skills.
  • Your ability to hire a contract employee with the exact skills and experience you are looking for ensures you add the right member to your team.

Reduced Cost

Hiring contract employees typically costs less than hiring full-time employees:

  • Although contract employees usually have higher wages or salaries than full-time employees, your company typically doesn’t pay for health insurance, provide access to the company’s retirement plan, or offer paid time off or other benefits. The staffing firm often provides some of these benefits.
  • The staffing firm is responsible for the contract employee’s employer and employee taxes.
  • These employees usually require less onboarding and training than full-time employees to begin producing.
  • You are not responsible for contract employees’ unemployment claims.

Are You Ready to Hire Contract Accounting and Finance Employees?

Hiring contract employees provides your accounting and finance team with additional flexibility and niche skills. The money you can save makes adding contract employees to your team an attractive choice.

When you need to hire contract employees, turn to Casey Accounting & Finance Resources. Learn more today.

Taking Vacations Improves Employee Well-Being and Productivity

Even though we’re approaching the end of summer and the beginning of the school year, it doesn’t mean that opportunities for vacation or paid time off (PTO) are over. In fact, there are several studies that indicate the importance of finding opportunities throughout the year to relax and recharge. Rebecca Zucker, executive coach and a founding partner at Next Step Partners, recently wrote in a Harvard Business Review (HBR) article that “Making sure your employees regularly take time off is key to creating a more sustainable workplace.”

Zucker continues – “every year more than half of Americans give up paid time off. According to the U.S. Travel Association, in 2018, this amounted to 768 million days of unused vacation time, with more than 30% of it forfeited completely. Add to this, the fact that over 50% of managers feel burned out, taking vacation (and actually unplugging) has never been more important.”

Employers need to look at the statistics that outline the benefits of taking time off and encouraging employees to plan regular breaks away from work.

Restoring the Mind, Body, and Soul

Zucker outlined research that points to three areas that benefit from restorative breaks.

1) Mentally. Taking a vacation provides greater opportunity for rest and better sleep (both quantity and quality), which can help employees unclutter their minds to boost creativity. The cognitive impact when people are overwhelmed with work can include cognitive fatigue, difficulty concentrating, forgetfulness, and impaired problem-solving ability, among several other effects.

2) Body. Relaxing on vacation can reduce the levels of stress hormones and allow the immune system to recover, making employees less prone to get sick. Vacation also allows people to reset sleep patterns that can improve mood and cognition beyond vacation.

3) Soul. While it sounds hokey, answers to life’s big questions — like “What do I really want?” or “What’s most important to me?” — are more likely to come to us when there is some space and stillness. An Ernst & Young study showed that for every additional 10 hours of vacation time that employees took, their year-end performance improved 8%, and another study showed that using all of their vacation time increases an employee’s chances of getting a promotion or a raise. Further, according to the EY study, those who took vacations more frequently were less likely to look for employment elsewhere and leave the company.

A key to creating a more sustainable workplace with healthier, happier employees is to discourage the warrior mentality. Employees might be tempted not to take vacation time and show off how hard they work. Many of the studies noted in this article refute this type of culture. “We’re losing out on crucial recovery time that our bodies and brains need — which is why vacations are so very important,” stated Shawn Achor, New York Times bestselling author of Big Potential, The Happiness Advantage, and Before Happiness.

Vacations are a Necessity.

Achor emphasizes the importance of taking vacations to improve overall well-being and productivity. He advocates that vacations are not just a luxury but a necessity for maintaining good mental health and enhancing happiness. He also found that if you plan ahead, create social connections on the trip, go far from your work, and feel safe, 94% of vacations have a good ROI in terms of your energy and outlook upon returning to work.

Taking time off allows employees to recharge and return with enhanced creativity, improved mood and greater productivity, and an increased ability to demonstrate greater value to the company. Encourage employees to fully disconnect from work while on PTO. Not to sound rude, but, Just Go (Get) Away!

Here is the cherry on top. If you need workers to fill in for employees on vacation, contact Casey Accounting and Finance Resources to assist you with those needs.

July 2023 Accounting and Finance Salary Survey Available!

Casey Accounting & Finance Resources has compiled its July 2023 salary data for the fields of accounting and finance. Recruitment is really heating up, and job postings are plentiful. The war for talent is on, so having the most up-to-date information is vital!

With compensation trends changing on a monthly basis, both sides can benefit from having this information during job negotiations. According to Karin Kimbrough, chief economist at LinkedIn, “… the labor market is resilient, even if there’s been a small erosion to its strength, it’s still a tight market with plenty of open roles.”

If you would like to view the salary survey, please click the link to download!

For more information, here are some useful articles:

And here are a few more trends and insights to consider:

Casey Accounting & Finance Resources can help financial professionals who want to learn more about what salary expectations should be. We have compiled our salary survey list with updated facts and figures, including job descriptions for more the most requested accounting and finance positions in the Chicago metropolitan area.

If you would like to view the salary survey, please click the link to download!