Today's Technology for Tomorrow's Firm.
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June 2016 • www.CPAPracticeAdvisor.com 37 FEATURE Paul McDonald is senior executive director at interna- tional stafng frm Robert Half. He writes and speaks fequently on hiring , workplace and career management topics. Over the course of more than 30 years in the recruit- ing feld, McDonald has advised thousands of company leaders and job seekers on how to hire and get hired. ance takes resources and training for personnel; the alternative is far more expensive. Financial leaders must possess a thorough understand- ing of regulatory requirements, so they may provide guiding insights for their teams and the businesses they serve. Having on board highly skilled compliance professionals will ensure your organization is staying on the right side of the law. 4 Strong recruiting and staff manage- ment skills Employers face intense competition to hire ex perienced accounting and f inance profes- sionals — along with a dearth of candidates with the requisite skills. Staf-management issues don't end there, though. Managers also need to know how to navigate the multigen- erational workplace and supervise a remote workforce, with employees who could live in a nearby city or dis- tant continent. In addition, the pres- sure to motivate their teams while enhancing their employee retention eforts to keep top performers from feeing to competitors continues to mount. PRO TIP: Te need for employ- ers to highlight the benefts of work- ing at the frm must be an ongoing process, both for job candidates they want to join the organization and valued staf members they want to stay there. Super visors should tai- lor their management approach for each employee and serve not just as a boss but also a coach and advocate for their teams. Today's economic climate brings with it new and unexpected chal- lenges for business leaders. Tose who anticipate the changes and meet them confdently will be the business leaders of tomorrow. CONTINUED FROM PAGE 33 CONTINUED FROM PAGE 35 "Our ProAdv isor program is laser-focused on empower ing account ing professiona ls a nd bookkeepers to be trusted advisors and grow their practice. Te part- nerships we have with ICBUSA and Hubdoc not only help bookkeepers transition from compliance work to becoming trusted advisors, but also encourage ProAdvisors to take their bookkeeping skills to the next level," said Hamilton. ProAdvisors can learn more and sign up for these exclusive benefts by visiting htp://w w w.icbusa.org/ proadvisor or htp://hubdoc.com/ proadvisor. 4 Impact on Pay Equity. In order to ensure that employees are being paid fairly and based on their job, do not make changes on a per- employee basis, but instead based on their roles. Tis is especially important for businesses with low turnover, where an employee may have been in their same role for many years. 5 Proactively Control Costs. If work fows in the business require employee action outside of normal working hours and that leads to overtime for non-exempt staf, the business has a duty to pay them overtime. However, this is a good time to reexamine those work fows that might push staf members into overtime. Is it in the best interest of the business for its staf to be working afer hours, on weekends or at other times? If it isn't critical to business function, is it worth what will be an added expense? If not, then establish workplace policies that diminish the amount of work that non-exempt workers perform outside of traditional working hours. Tis can also be positioned as an efort to increase morale. Te new overtime regulations will have a signifcant impact on some businesses. In the meantime, businesses can use the next several months to analyze their labor and productivity, and get a beter understanding of what they will need to change to minimize the efects of the new rules. It's also a good opportunity to reassess actual jobs, requirements and descriptions. CPA Practice Advisor Presents 2016 ENSURING SUCCESS SAVE THE DATE DECEMBER 1, 2016 10 One-Hour Sessions Free Live Streaming Conference Cutting Edge Training from the Accounting Profession's Leading Visionaries CPA Practice Advisor is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing profes- sional education on the National Registry of CPE Sponsors. State boards of accountancy have fnal authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org. There are no prerequisites on advance preparation required for this basic level internet-based group program. For more information regarding refund, complaint and program cancellation policies, please contact our offces at 800-547-7377.