Why Showing Gratitude to Your Employees Can Lead to Higher Productivity

Most employees cite their income, work environment, and company culture as reasons why they enjoy their roles. However, how they feel about their positions matters as well.

Employees feel good when their employers appreciate them. These employees often share their positive emotions with colleagues and coworkers. The cycle of smiles, generosity, and random acts of kindness impacts others in the organization. This leads to greater feelings of employee appreciation.

As a manager, you influence how your employees feel when they are at work. This is why you should be giving praise for employee achievements.

Providing autonomy and constructive feedback shows your employees they are valued and respected. This promotes engagement, productivity, and retention.

Discover how showing gratitude for your employees can increase productivity and how you can attain this objective.

Attractive Company Culture

Employees who feel appreciated often express gratitude for their colleagues and coworkers. This promotes feelings of appreciation throughout the organization. Companies that emphasize employee appreciation have an attractive culture. This encourages job seekers to apply to the organization.

Increased Employee Engagement

Employees who feel appreciated typically have high job satisfaction. They are committed to performing their best and reaching business goals. This results in strong customer satisfaction and revenue for a healthy bottom line.

Elevated Employee Performance

Expressing gratitude to your employees shows you appreciate their contributions and results. This creates a source of pride in their work. Employees who are proud of their achievements typically put in their best effort.

Stronger Employee Retention

Expressing gratitude to your employees shows they are valued and respected members of your team. This encourages your employees to perform their best. Employees who enjoy their roles are likely to remain with your organization long-term. This reduces hiring costs.

Methods to Express Employee Appreciation

  • Publicly give thanks for each employee’s specific contributions, results, and impacts on the organization.
  • Provide a donation in the employee’s name to a charity they care about.
  • Create a reward system that provides points to redeem for a gift card, remote work day, vacation day, or other awards.
  • Provide a bonus, pay increase, or promotion when appropriate.
  • Publicly give thanks for each employee’s specific contributions, results, and impacts on the organization.

Frequency of Employee Appreciation

A survey by Authentic Recognition found the following:

  • 2% Received Daily recognition
  • 11% Received Weekly recognition
  • 20% Received Quarterly recognition
  • 17% Received Annual recognition
  • 29% Received No recognition of any kind.

Source: https://authenticrecognition.com/how-frequently-should-you-give-recognition/

Want to Increase Your Team’s Productivity?

Expressing gratitude to your employees helps them feel valued and respected. This encourages your employees to remain engaged, productive, and loyal to your organization.

Many HR managers and People leaders follow the R.I.S.E. method when implementing their recognition program. This concept highlights how employee appreciation should be regular, immediate, specific, and encouraging.

If you’re looking for other ideas to express employee appreciation, or you need to add employees to your team, include Casey Accounting & Finance Resources in your hiring process. Learn more today.

 

Up to 67% of US Employees Could Be Quiet Quitting. How They Impact Your Business?

Millions of employees are putting in minimal effort to keep their jobs. This mindset of “quiet quitting” is becoming more prevalent than ever before. It also is impacting businesses across the United States.

Source: https://teambuilding.com/blog/quiet-quitting-statistics

What Motivates Quiet Quitters?

Quiet quitters typically blame burnout for their lack of motivation to perform better. For instance, layoffs and staffing shortages often result in the remaining employees taking on more of the workload. However, most are not being compensated accordingly.

Many managers expect the same productivity levels with the increased workloads. These unreasonable expectations cause many employees to feel unappreciated.

As a result, quiet quitters are losing patience with their employers leading these employees to prioritize their personal lives over their professional responsibilities.

Why Are Many Remote Employees Quiet Quitters?

Remote employees often have an easier time not going above and beyond in their roles. Many of these employees feel less connected to and involved with their teams.

A lack of clear work hours encourages many remote employees to be quiet quitters. Not understanding how much should be accomplished each day increases stress. Ongoing exposure to elevated stress levels typically leads to burnout.

How Do Quiet Quitters Impact Companies?

Employees who do not remain engaged in their work and perform their best decrease productivity. This lowers employee morale and here’s why.

Better-performing employees often feel the need to pick up the slack caused by quiet quitters. This typically leads to frustration and resentment. These high-performing employees often end up leaving for other opportunities. As a result, turnover and hiring costs increase.

What Can Managers Do to Motivate Quiet Quitters?

Managers must understand what motivates each of their employees. Examples include verbal recognition, stretch assignments, and additional paid time off. Rewarding employees in the manner they desire promotes engagement and productivity.

Talking with each employee in one-on-one meetings, on a regular basis, helps uncover how they feel about their jobs. Managers can discuss each employee’s pain points and collaborate to find solutions. Making changes encourages employee engagement and productivity.

Providing constructive feedback encourages employees to improve their performance. Sharing what an employee did well, and specific steps to improve can promote desirable results.

Remaining empathetic during employee conversations is imperative. Many employees are facing personal challenges that are impacting their work. Providing support through increased work-life balance, access to therapy, or career advancement opportunities encourages employee engagement and productivity.

Need to Add Professionals to Your Team?

Quiet quitters put in minimal effort to meet their job requirements. This causes other employees to pick up the slack. When these better-performing employees become frustrated and resentful, many find opportunities elsewhere. As a result, turnover and hiring costs increase.

Managers should use customized tactics to help their employees stay engaged in their work. Managers also can talk privately with employees who are not performing their best to uncover the reasons, resolve the issues, and provide support.

For help adding professionals to your team, partner with Casey Accounting & Finance Resources. Find out more today.

 

How to Motivate Your Employees to Finish Strong in Q4

According to Gallup’s State of the Global Workplace: 2022 Report, approximately 65% of employees are not fully engaged in their work. This percentage likely increases during the holiday season.

Maintaining focus during Q4 can be difficult for employees. Most are thinking about their holiday plans rather than their work tasks.

Fortunately, there are steps you can take to motivate your employees to finish the year strong. These ideas can help.

Follow these guidelines to motivate your accounting and finance team to finish strong in Q4.

Revisit Goals

Review which goals were achieved during the year and which remain. Then, clarify the goals your employees should put in additional effort to attain. Include how the goals increase company success for the current year. This sets up a strong beginning to the new year.

Offer Incentives

Provide incentives to your employees who reach their goals for Q4. Examples include gift cards, bonuses, and additional paid time off in the new year. These incentives encourage your team to go above and beyond to increase their achievements for the year.

Encourage Autonomy

Let your employees work as independently as possible. This shows you trust, value, and respect them.

Since your team members are well-trained, they understand what to do and when to do it. Provide the necessary resources and be available for questions, then let your team work independently.

Recognize Achievements

Thank your employees for their contributions and results. Include the goals your team members reached, the steps taken to attain the goals, and the impact on the organization. This increases employee engagement and performance.

Lead by Example

Model the behavior you want to see from your employees. Examples include meeting milestones, communicating status updates and challenges, and asking for assistance. Your team is likely to follow your example as their leader.

Need Help Finishing Q4 Strong?

Revisiting goals lets your employees know what to work on during Q4. Offering incentives, encouraging autonomy, and recognizing achievements show you trust, value, and respect your team.

If you need temporary team members to help finish Q4 strong, talk with Casey Accounting & Finance Resources. Learn more today.

 

Are You Offering Enough PTO to Your Finance Employees?

As the manager of a finance team, how much paid time off (PTO), you offer your employees matters. Providing a fair amount of PTO with opportunities for more helps you attract and retain the best talent. It shows you prioritize work-life balance and want your employees to have as much flexibility as possible.

Determination of how much PTO to offer can be difficult. The following suggestions can help.

Use these tips to determine whether you are offering enough PTO to your finance employees.

Defining PTO  

PTO consists of a block of time that employees can draw from throughout the year. Rather than creating categories and assigning a number of days for each, such as 7 paid holidays, 6 vacation days, 5 personal days, and 4 sick days, all of the days can be used however the employee sees fit.

For instance, most companies offer 30 days of PTO that each employee can divide up as needed. So, one of your employees might decide to take 12 days of paid sick leave, 12 days of paid personal leave, and 6 days of paid vacation. Another employee could decide on 5 days of paid sick leave, 12 days of paid personal leave, and 13 days of paid vacation.

Determining the Amount of PTO

Certain variables should be considered to decide which amount of PTO is right for your employees. For instance, you may want to offer different amounts of PTO to different types of employees. You also need to determine whether your employees should be required to use all of their PTO each year, be able to roll it over to the next year or get paid extra for the unused days.

You may want to start your new hires with less PTO and award more PTO based on the number of years your employees remain with your company. You also might want to let your employees roll over their unused days as a reward for good attendance.

Deciding How Much PTO Is Right for Your Employees

The amount of PTO you provide your finance employees depends on your business needs. It may be best to start each new hire with 30 days of PTO and provide opportunities to increase over time. This might be linked to job performance, years of loyalty, or other criteria.

Ensure your standards for awarding PTO are fair, clear, and included in the employee handbook. This helps your employees understand how much PTO they start out with and how they can earn more.

You can change your program over time to remain aligned with changing employee needs. This helps your finance team attract and retain top talent.

Want Help with Hiring?

The amount of PTO you provide your finance employees impacts how long they remain with your organization. Starting your new hires off with a fair amount of PTO and opportunities to increase helps attract and retain the best talent. This can help lower your recruitment costs.

When the time comes to hire additional employees, turn to Casey Accounting & Finance Resources for help. Find out more today.

4 Updates You Can Make to Job Descriptions to Gain More Applicants

Your job descriptions provide managers with clear guidelines for hiring, developing, and managing employees. The descriptions also clarify the job expectations for employees and support compensation, performance standards, and development decisions.

Your job descriptions are an important part of your job postings. They let candidates know the duties and responsibilities of a role and the requirements to be successful in the position.

Because your job descriptions serve multiple purposes, they need to be current. The following are four ways to can make sure the information is updated.

Implement these four tips to update your job descriptions to increase your applicant pools.

1. Position Summary

Summarize the main job duties and responsibilities.

  • Make the role attractive to job seekers.
  • Share information about your department.
  • Include who the employee reports to and whether any employees report to them as well.

2. Minimum and Preferred Qualifications

Clarify the qualifications that candidates must have to apply for the role. Include the qualifications that make candidates even more attractive to the hiring manager. Focus on the major end results of the role.

  • The minimum requirements are a shorter list of your objective criteria.
    • Include the minimum education and experience required for success.
  • The preferred qualifications are nice to have if applying for the position. A candidate without the preferred qualifications still may be hired.
    • These qualifications are on a longer list of more subjective criteria that can be discussed in more detail during an interview.
    • Examples of preferred qualifications include soft skills such as communication, attention to detail, and organization.
    • The preferred qualifications set candidates apart from those with the bare minimum qualifications.

3. Duties and Responsibilities

Include the main job functions in order of importance.

  • Be as specific as possible about the job duties and responsibilities.
  • Explain whether the employee makes recommendations to a decision-maker or makes the actual decisions.
  • Use clear action words and specific adjectives for each task. For example, “Create Excel sheets from raw data, including pivot tables and formulas such as if/then. Perform data entry to update, sort, analyze, and summarize in reports for leadership.”

4. Physical Requirements

Clarify whether there are any physical requirements to complete the work. Include whether accommodations can be made for candidates who need them.

Want Help Hiring Accounting and Finance Professionals?

Sharing clear, updated information in your job descriptions lets candidates know what would be expected of them in the role. Clarification of the position summary, minimum and preferred requirements, duties and responsibilities, and physical requirements help candidates decide whether to apply for a position. This narrows down your options when deciding who to contact for an interview.

If you need help with crafting your job descriptions or recruiting candidates that best meet the hiring qualifications, contact the experienced recruiters at Casey Accounting & Finance Resources. Reach out to discuss your needs today.

Give Thanks to Your Team! 5 Ways to Show Employee Appreciation

Expressing gratitude to your accounting and finance team should be an everyday occurrence. Letting them know how much you value their contributions and results promotes feelings of respect and loyalty. This results in increased engagement, productivity, and retention.

Choose among these five ways to show you are grateful for your accounting and finance team.

1.     Thank Your Team Members

Always express appreciation for the work your staff put in each day. They likely are doing their best to finish tasks and reach objectives. Knowing your team members’ efforts are noticed provides encouragement to continue to perform at top levels.

2.     Encourage Professional Growth

Opportunities for learning, coaching, and cross-training help your team reach their career goals. This may involve participation in an industry-related seminar, conference, or networking event. Or, it could include membership in a professional organization, a role on a special committee, or job shadowing for additional career opportunities. Any chance to grow professionally likely is welcome.

3.     Share Your Team Members’ Accomplishments

Let everyone in the organization know when your employees attain something big. This may include sharing their successes with the rest of your team, senior leaders, and the rest of the company. Or, it could include mentioning the accomplishments during team meetings, in the company newsletter, and on social media platforms. Your employees should appreciate the public recognition and continue to give their all going forward.

4.     Write a LinkedIn Recommendation

Share each employee’s successes by writing recommendations on their LinkedIn page. This shows you care about your team members’ career development and want to help them grow professionally. Endorsing their skills also can lead to a greater impact on your organization down the road.

5.     Give Praise for Attaining a Goal

Whether big or small, let your employees know you appreciate their hard work and dedication to accomplishing business goals. This may involve completing a project, working for a new client, or reaching a long-awaited milestone. Be sure to point out specifically what the staff member did that you admire. Give sincere praise for taking action to attain what they set out to do.

Do You Need Accounting and Finance Talent?   

Expressing appreciation for your accounting and finance team every day leads to increased engagement, productivity, and retention. This encourages your staff to work hard, stay connected, and perform their best.

When you are looking to add skilled members to your team, turn to Casey Accounting & Finance Resources. We match you with the accounting and finance professionals who can help achieve your business goals.

Top Talent Aren’t Getting Just One Offer! Here Is How You Should Approach a Counteroffer

When hiring accounting and finance professionals, your choice candidates likely will receive counteroffers from their current managers. Because employers do not want to lose their best talent, many will provide incentives for their staff to stay with their team. This is why you need to proactively address the issue with your shortlisted candidates. Providing reasons why applicants should turn down counteroffers increases the odds of having your top candidate decide to join your team.

Follow these guidelines to encourage your top accounting and finance applicants not to accept a counteroffer from their current employer.

Reinforce Each Candidate’s Reasons for Leaving

Remind your top applicants why they decided to look for a new job in the first place. Most of the time, it has nothing to do with making more money. This is why accepting a pay increase through a counteroffer likely will not retain the employee long-term. If the staff member does not get along well with their manager, they are not being challenged in their work, or there is no room for advancement, the issue is likely to remain.

Question Whether Staying Would Make Things Change

Ask each of your shortlisted candidates whether anything would improve long-term if they remained with their current employer. In most cases, the applicants began seeking new jobs because they felt restricted or unappreciated. They may have been passed over for a promotion or not given other opportunities to grow. Although the candidates may have expressed their concerns to their manager, the issues likely went unaddressed. Odds are these problems will remain even if the applicants decide to accept a counteroffer.

Point Out the Job Insecurity of Staying

Remind your best talent that once they submit their resignation, they damage the relationship with their employer. Even if your candidates accept a counteroffer, things will remain tense at work. Their manager may wonder how loyal they really are and whether they would accept an even better offer if it came along. Their employer also may begin making plans to replace the employee as soon as possible. Or, if the company wants to eliminate positions, the team member who tried to resign likely will be let go first.

Are You Looking for Top Accounting and Finance Professionals?

When adding skilled accounting and finance professionals to your team, they are likely to receive counteroffers from their current employers. One of the best ways to discourage your potential team members from accepting these offers is by pointing out why they decided to leave their jobs in the first place. You also can ask whether things truly will change by staying. Plus, you can point out how insecure the potential hires’ jobs may be once their managers know they want to leave.

When you need to add top talent to your team, get in touch with Casey Accounting & Finance Resources. We have the skilled professionals you need to reach your business goals.

Ways to Push Employees Outside Their Comfort Zone and Set Them Up for Success

Everyone needs to step out of their comfort zone to be successful. The more education, skills, and experience we gain, the more value we have to give employers. As an accounting manager, this is one reason why you should encourage your team members to regularly take on new challenges. The more progress they make, the more your company benefits.

Follow these guidelines to encourage your accounting staff to continuously expand their comfort zone and reach their full potential.

Get to Know Your Team

Have ongoing conversations to learn all you can about your employees on a personal level. Find out their work styles, communication preferences, professional goals, strengths, and interests. Use this information to determine which tasks to delegate to each team member, who should lead a project, and specific ways to help each employee earn a promotion. Showing commitment to your team’s professional growth helps them advance in their careers.

Provide Stretch Assignments

Give your team stretch assignments and other challenges that promote growth. Provide guidance and advice as they work to solve problems and overcome obstacles. Having space and responsibility to work independently and collaboratively develops independence and self-reliance. These skills are important for career development.

Offer Support

Demonstrate confidence in your team’s ability to independently handle their work. Your staff members need to know they can accomplish their tasks using their knowledge and skills with little oversight. This promotes the belief that they can build on their strengths and abilities to get the desired results. Being available to provide support when needed increases team trust and cohesion.

Provide Feedback

Give feedback in real-time to enhance your employees’ performance. Share what they are doing well, what can be improved, and specific ways to do so. Understanding what, how, and why change is needed encourages your team to continue to do better.

Recognize Achievements

Point out when your employees attain success on their way to reaching individual or team goals. Because reaching each milestone is important, privately and publicly acknowledge what the team member accomplished and how their results benefitted the organization. Be sure to provide bonuses, raises, and promotions when appropriate. The more you praise and reward your team, the more likely they are to continue to add value to the company.

Hire Top Performers

Encouraging your accounting team to continuously move beyond their comfort zone helps set them up for success. Getting to personally know your employees, providing stretch assignments, and offering support show you trust them to be self-reliant in solving problems and overcoming obstacles. Giving feedback and recognizing accomplishments encourages your team to continue to improve their performance.

When the time comes to add top finance professionals to your team, get in touch with Casey Accounting & Finance Resources. Contact us for more information today.

Tips for Reducing Employee Conflict on Your Team

As a manager, you are responsible for overseeing the work and interactions of your employees. Because your staff members have different personalities, they will not always agree on everything. This is why you need a plan to help them listen to and learn from each other. Such actions can lead to greater productivity and team cohesion.

Implement these tips to lower the amount of conflict on your accounting and finance team.

Talk About Conflict Resolution

Let your team know they are expected to professionally resolve their disagreements. For instance, clarify how you will and will not get involved with conflicts. Also, explain that you are available to coach your employees through a disagreement, but they need to resolve it together. Further, encourage discussion about your staff members’ working styles and communication preferences. Understanding and respecting these characteristics can resolve potential problems in the future.

Encourage Independent Discussions

Let your employees resolve their issues as much as possible. Otherwise, they will expect you to step in as a referee. If a conflict becomes noticeable but is not being recognized or solved by the involved staff members, you should step in. For instance, separately and privately let them know their conflict is noticeable and affects the workplace. Then, think about how you can serve as a source of support and coaching without becoming overly involved in the resolution. This may involve helping both employees develop empathy for each other. For instance, consider asking what they think could be going on with their teammate and what they might want from the situation. Then, help each staff member brainstorm potential solutions to the problem. Keep in mind that if harassment, lying about work, or another inappropriate action is involved, you must discuss why the behavior cannot recur.

Hire Solution-Oriented Employees

Bringing aboard diverse staff members who focus on resolving problems helps keep the peace among your team. During interviews, you may want to ask candidates to describe a conflict they had with a coworker and how they resolved it. This provides insight into how potential hires think about conflict and move past it.

Partner with a Recruiter

Because conflicts will happen among your team members, you need a plan to resolve them. Although it is best for the involved parties to resolve the issues, you may have to step in at times to coach them through the process. Setting expectations for professional conflict resolution is an effective way to reduce the number of disagreements among your team.

When you need help hiring solution-oriented accounting and finance professionals, turn to Casey Accounting & Finance Resources. Get started with us today.

Will Relocation Packages Be Obsolete in the New Remote World?

With many relocation packages costing $25,000 – $100,000 per employee, employers are reevaluating whether remote work options make the packages necessary. In fact, some companies now are offering de-location packages for employees who want to move from an expensive city to an area with a lower cost of living and work remotely. Paying staff members to move away from their offices can provide significant benefits for both the organization and its workers.

Find out why employers are starting to offer employees de-location packages and why they can be a win for both parties.

Financial Savings

A de-location package offers substantial savings for employers and employees. Companies that have a mostly/completely remote workforce have significantly reduced/eliminated expenses related to real estate and overhead. They also have substantially lower operating costs and a greater ability to scale their workforce. All of this frees up money to pay down company debt, expand the organization, or fulfill other business objectives. Similarly, staff may be able to save thousands of dollars a month by working remotely from a less expensive location. They can pay down debt and put away more money for vacations, retirement, or other needs. This increases job satisfaction, engagement, and retention.

Competitive Edge

Offering employees a de-location package is an attractive addition to remote work policies. Although many staff enjoy living in major cities such as New York or San Francisco, the cost of living is high, and the area does not suit everyone’s lifestyle. Many employees would be happy to work for a top employer without having to live in a high-cost area. Likewise, many employers are happy not to provide the salary adjustments, housing allowances, moving expenses, real estate commissions, orientation programs, and family and spousal support involved with relocation packages. With a de-location package, they write a check for a set amount of money, such as $10,000, and let the employee handle the rest. Because this may be 10-50% of the cost of a typical relocation package, HR could de-locate 10 employees for the price of one relocation and potentially have a higher recruiting success rate.

Government Advocacy

Many local and state economic development councils offer incentives to attract remote employees. This may include compensation in the form of a tax credit, housing allowance, cash payment, coworking allowance, grant, or relocation support. This shows that many remote staff are willing to relocate under the right conditions.

Hire Accounting and Finance Professionals

The rise of remote work is shifting the need to offer relocation packages. Instead, employers are beginning to pay employees to move to lower-cost areas and work remotely. These de-location packages save the companies and their staff significant amounts of money that can be used for other purposes.

When you need to add accounting and finance members to your team, partner with Casey Accounting & Finance Resources. We have been consistently recognized for client satisfaction, winning ClearlyRated’s Best of Staffing award.  Find out more about our services today.

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