What Employers Can Do to Better Support Their Working Parents

Employers always are looking for ways to support their employees. This improves productivity, performance, and retention.

One key area of support is for working parents. Because most employees have families, they make up a significant part of the workforce.

Working parents often deal with issues that affect their professional performance. Examples include taking time off to care for a sick child and needing to finish work early to handle family responsibilities.

As a result, employers who provide accommodations for working parents are more attractive to employees and job seekers. Taking small steps can result in a substantial impact on your organization with little impact on the bottom line.

Choose among these methods to provide support for your working parents.

Talk About Working Parents’ Needs

Find out more about what your working parents want help with most. You may want to begin with a survey to understand their issues, concerns, and suggestions for help. Then, you can use this information to begin discussions between working parents and management about methods to increase support.

You may want to identify a specific issue that many working parents face. Then, you could encourage managers to speak with their employees for more details. The managers could meet with HR and leadership to share feedback and discuss implementation methods.

Create a Parents’ Network

Encourage working parents to share ideas, provide support, and organize family-friendly activities. This may include creating an email chain for parents to swap out gently used children’s clothing. Or, parents might provide tips to ease the stress of raising children while working full-time.

Having this network helps fill working parents’ wants and needs by connecting them with the right individuals at the right time. You may want to create a dedicated intranet page or Slack channel to encourage working parents to join the network.

Provide Flexibility

Offer employees a flexible schedule and options for how they work. Examples include working remotely, hybrid, flextime, part-time, or having a compressed workweek.

You may want to make accommodations for when working parents’ children start school or change their childcare routines. This reduces the stress of fitting in work around childcare. It also increases productivity and retention.

Looking for Additional Advice?

Working parents appreciate help supporting their personal and professional needs. Talking about and accommodating working parents’ needs, creating a working parents’ network, and providing flexibility are effective methods to provide this support. This increases employee engagement, productivity, and performance. It also increases employee attraction and retention.

For additional advice to better support your team’s working parents, reach out to the professionals at Casey Accounting & Finance Resources. Contact us today.

 

How a Strong Company Culture Can Lead to Better Retention

Your company’s culture is one of its biggest assets. It shows what your organization stands for and serves as a guide for employee interactions.

Having a well-developed culture can encourage the best talent to work for you. Once these employees become part of your organization, they are likely to remain for an extended time.

The longer your employees remain, the higher your retention rates. This lowers the amount of time and money spent on hiring, which improves your bottom line.

Find out how you can develop a strong company culture to improve your employee retention rates.

Business Guidance  

Displaying a strong mission, vision, and values provides employees with a sense of guidance and security. It shows what you stand for as a company. This helps attract employees who align with your culture.

Employees with values in line with your company’s values tend to make better business decisions. This typically aligns with your company’s vision and business strategy.

Be sure to advertise your culture and exhibit it in everything your organization does. For instance, regularly talk about your company’s vision and strategy. Include what these topics mean for different teams. Helping your employees better understand the company can improve engagement, motivation, and retention.

Include your company values when evaluating employee performance. This can improve engagement.

Flexible Work Arrangements

Offering remote or hybrid work and a flexible schedule helps your employees manage work-life balance. Letting them handle their personal needs during the workday helps lower stress. This reduces the odds of experiencing burnout.

Your employees may desire additional paid time off (PTO), stipends for child care, or paid parental or personal leave. Providing these accommodations shows you care about your employees’ well-being.

Talk with your employees about individual accommodations they may need to fit their personal circumstances. Increased flexibility typically leads to increased retention.

Performance Recognition

Regularly thanking your employees for their efforts and results helps them feel appreciated. This tends to elevate engagement, productivity, and retention.

Performance recognition should take a variety of forms. This may include a hand-written thank-you note, verbal praise during an individual or team meeting, or a mention on the company intranet.

Regularly point out your employees’ contributions to benefit the organization. Include each employee’s specific actions, their results, and how they impacted the business. Provide bonuses, raises, or promotions when appropriate.

Looking for Accounting and Finance Professionals?

Employees want to work for companies that have a strong culture. You can promote your culture by using it to guide employees to make business decisions. You also can offer flexible work arrangements and provide performance recognition to increase the attractiveness of your workplace. All of these factors contribute to your retention rates.

If you need help adding accounting and finance professionals to your team, talk with Casey Accounting & Finance Resources. Learn more today.

Handling Year-End Closes for a Busy Market

The end of the year is a busy time for your accounting team. This is why it is important you have a year-end closing checklist to organize how the year gets wrapped up. Then, the books should be updated, accurate, and ready to transition to a new year.

Encourage your accounting team to follow these guidelines to handle year-end closes.

Get the Financial Statements

Gather the income statement, cash flow statement, and balance sheet. This shows where the business is at financially and provides the information needed for tax filing. The income statement summarizes the money gained and lost during the year. It lists the revenue, tax expenses, operating expenses, cost of goods sold, depreciation, EBIT/EBITDA, and other financial costs and gains. The cash flow statement lists the company’s incoming and outgoing cash. This includes the timing in which the money came in or went out. The balance sheet lists the organization’s assets, liabilities, and equities and tracks its financial progress. The assets should be equal to the liabilities and equity.

Collect on Overdue Invoices

Contact customers who are late in paying company invoices. Be professional, understanding, and patient. If a customer cannot cover their debt, set up a payment plan with due dates. This shows you care about their business and understand their situation. Document each conversation and what the results were so you can refer to them as needed.

Gather Employee Information

Get together the Form W-4 you have on file for each employee. Use the information to complete each staff member’s Form W-2. They will need this information for tax filing.

Verify Payroll

Ensure your payroll records are accurate and current in your books. This includes raises, year-end bonuses, withheld tax amounts, and benefits.

Account for Inventory

Verify accurate counts of the materials and supplies on hand. This shows how much was spent on inventory during the year and its value. Make sure the inventory totals match the balance sheet. If you find discrepancies, make the proper adjustments.

Organize the Business Receipts

There are many ways you can organize receipts. For instance, you can sort them by the type of expense or in chronological order. You also can use folders and labels to keep the receipts separated or store them digitally on a mobile device.

Reconcile the Bank Accounts

Bank account reconciliation verifies that your accounting records match your bank accounts. The process involves comparing your bank statements to your accounting records. Your statements should match the balance stated in your books. If they do not, you need to uncover the discrepancy. This may involve adjusting a record for the balance to be equal.

Need Help with Your Year-End Close?

Handling year-end accounting procedures is a challenging process. Each step needs to be completed on time to transition into the new year. Having a checklist on hand can ensure everything gets done and the records are accurate and organized.

If you need help with your year-end close, get in touch with Casey Accounting & Finance Resources. We can provide temporary accounting professionals to help you close out the books and get ready for 2022.

Should I Accept an Interview Even if I’m Not Looking for a New Job?

Perhaps you have a quick commute, the most amazing boss ever, and absolutely love the work you do. Because you are happy with how your job is going, you may not want to even consider changing. Even so, remain open to the possibility of an even better opportunity coming your way. You will not know what might be unless you accept an interview even if you are not looking for a job. Here are some hidden benefits you could uncover.  

Expand Your Network 

The more interviews you accept, the greater your network expands. Having meaningful conversations with employers, recruiters and industry leaders means gaining access to one-on-one time you may not have received through a networking event or other circumstances. You gain the professional’s undivided attention as you discuss your job, employer, goals and the market. Even if you do not end up working for the company, by connecting with the individuals on LinkedIn and cultivating relationships, you set yourself up for future opportunities. 

Enhance Your Interview Skills 

Even an interview for a job that does not interest you provides practice for future interviews. Taking part in a variety of settings with different personalities and questions providevaluable exposure to help prepare meet with the company you want. Putting your extensive practice time into a real interview lets you test out your answers and figure out how to improve your performance. You are able to take inventory of what you do each day, what you have accomplished in your role, and what you would like to do next  

Gain Insider Information 

Every interview you participate in provides insider information on what employers are looking for. By focusing on the specific questions asked about your background and skills, you gain a sense of what is most important and what to talk about. Similarly, if an interviewer is confused by a specific part of your resume, you can update that section before sending it out. Plus, you learn information about how the company does things, such as what systems the team uses or how they have been dealing with recent changes in the field, you may be able to take back to your current role.   

Find Your Dream Job 

Going to ainterview may lead to your dream job. Perhaps the office is gorgeous, the colleagues amazing, and the vibe just what you are looking for. Even if the job description sounds less than thrilling, you may be able to perform work you love with a brilliant, fun-loving team. Or, even if the pay is not what you would like, you may able to give back to the community by working with a nonprofit organization.   

Find Accounting or Finance Work in Chicago  

Find work in Chicago with help from Casey Accounting & Finance Resources. Our seasoned recruiters can help you find the accounting or finance job of your dreams! 

Is Your Employee Engagement Hurting Your Company’s Financial Performance?

How do you know whether your employee engagement is helping or hindering your company? Setting and analyzing key performance indicators (KPIs), asking employees to fill out surveys, or implementing stack ranking may be among your solutions.

Key Performance Indicators

A KPI is a measure that reflects company success or progress in relation to a specific goal. For example, financial KPIs typically are based on elements of the income statement or balance sheet. They may report changes in sales growth by product groups, channel or customer segments or in expense categories. Revenue growth rate, net profit and return on investment are commonly used metrics for employee performance. A company needs to use non-financial KPIs as well. Non-financial KPIs are other measures used to assess activities that are important to achievement of strategic objectives. Examples include measures that relate to customer relationships, employees, operations, quality, cycle-time and the company’s supply chain. By aligning business activities and individual actions with strategic objectives, you can better determine whether employee engagement is benefitting or harming your company.

Employee-Centered Key Performance Indicators

Employee-centered KPIs, such as employee engagement, satisfaction and turnover are also important metrics. Higher employee engagement is linked to higher customer satisfaction. When employees are happy and believe in their company, it comes across in their work. For this reason, companies with high employee engagement levels outperform companies with lower engagement levels according to customer ratings. Plus, because engaged employees are motivated to achieve more, they produce more than disengaged ones. In addition, companies with employee-centered strategies are more likely to encourage innovation, autonomy and employee ownership than companies that do not implement such strategies.

Employee Surveys

To measure engagement, you may ask employees to fill out surveys. Questions may include, “How meaningful is your work?” “How much do your opinions about work matter to your manager?” Or, “Are you proud to be a member of your team?” Another approach may be analyzing engagement levels such as management quality and time investment, influence from colleagues, relationships and work schedule. The second approach is more comprehensive and likely to be answered honestly, rather than with answers employees think leaders want to hear.

Stack Ranking

Stack ranking is a system that ranks employees according to their performance. Top employees are put in line for promotions while the bottom 5-10 percent are let go. One objective is to encourage communication between managers and employees so employees know why they rank where they do and how they can improve. Employees may learn why they are not regularly being promoted or prepare to be laid off for continual poor performance.

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Find engaged employees through Casey Accounting and Finance Resources, a leader in Chicago employment!

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7 Steps to Keeping Your Remote Workers Engaged

If your company employs remote workers, you face unique challenges keeping them engaged with the rest of the team. Fortunately, many of the motivational methods used in the office also can be used with remote workers.

1. Provide a Communication Platform

Because remote workers need to be included in team projects and company news, provide a platform for effective communication. When employees remain informed about company issues, they remember they are part of a larger organization and play a vital role in its success. Remote employees also feel like valued members of the business when their colleagues and manager regularly keep in contact with them.

2. Recognize Results

Since remote workers are often more productive than office workers, provide recognition for their accomplishments. Ensure the recognition is highly visible to co-workers, so they know the contributions being made on a regular basis. The company website and online collaboration tools make recognizing remote workers simple.

3. Clarify goals

By clarifying goals, remote workers know what your expectations are and whether they are being met. Provide remote workers with clear direction on company objectives and paths for reaching them. Give regular feedback on progress, so remote workers can resolve issues, remain on task and improve performance.

4. Emphasize Production

As long as deadlines are being met, focus more on what remote workers are producing than when it is being produced. Since remote workers know how to organize their time for maximum results, it is more important they understand workflows and keep up accordingly. Benchmarking success based on results builds both trust and long-term employee happiness.

5. Get to Know Remote Workers

Show a personal interest in your remote workers. For example, meet with them individually to learn about their family, friends, hobbies and other interests. Also, find out what their career goals are, what fuels their passion and how you can help them succeed. On a regular basis, offer words of congratulations or support as their circumstances change.

6. Schedule Regular Check-Ins

Establish a regular check-in system with remote workers. Keep in mind potential differences in work schedules, personalities and time zones. Discuss times when remote workers generally can answer phone calls, emails and other messages, so you can touch base. Talk about their successes, obstacles, issues and concerns each week. Provide the resources and support necessary for your remote workers to succeed. If possible, have them come to the office at least once a quarter to participate in meetings, spend time with colleagues, and increase camaraderie.

7. Invest in Professional Development

Provide remote workers with ongoing professional development opportunities. Encourage them to enhance their skill set and reach career goals. Remote workers can participate in webinars, seminars, conferences and trade shows. They gain insight into the industry, stay current on developments and trends, and become even more valued members of your organization.

Find Engaged Staff Through Casey Accounting and Finance Resources

Find engaged staff members by partnering with Casey Accounting and Finance Resources, a leader in Chicago employment!

 

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