Retaining Your Top Talent

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Retaining top talent is a critical part of a company’s success. Keeping skilled professionals results in increased revenue, decreased recruiting costs, more effective business planning and other benefits. Therefore, companies need to have a strategy for encouraging employees to remain with them long term. Here are six ways companies can retain top talent.

  • Establish a Strong Company Culture

Top professionals seek strong company culture. To create and maintain culture, employees at all levels should ensure the company’s mission and values are displayed through every interaction and decision. Also, employees at all levels should be kept informed about new hires, charitable events, company news and other pertinent information. Employees who actively participate in many aspects of an organization feel like valued team members and stay with the organization longer.

  • Offer Flexibility

Remote work, flexible schedules and PTO are in high demand. Fitting in professional responsibilities around personal interests promotes greater work-life balance. As a result, employees are more engaged in their work, perform at higher levels and remain loyal to the company longer.

  • Improve Employee Engagement

Because the best employees are engaged in their work, companies should continuously provide the resources necessary for staying focused. Managers and colleagues should encourage open, frequent communication with team members. Also, managers should provide team members with the information and materials necessary to complete individual and team projects. Employees at all levels should be allowed to provide input on the company’s overall business strategy and further contribute to the organization’s success.

  • Provide Frequent Feedback

Skilled professionals benefit from frequent feedback on their performance. Managers should clarify expectations for each team member to help reach the company’s goals. They should consistently point out to each team member areas they excel in and discuss steps they can take for areas they need to improve in. In addition, managers should provide both verbal and monetary recognition in the form of bonuses, raises and promotions tied to accomplishments. Employees who have their contributions acknowledged feel valued, produce at higher levels and remain with the organization longer.

  • Invest in Technology

Maintaining current technology demonstrates a company’s commitment to evolving and improving business processes. Staying updated with technology helps an organization retain innovative employees who expand the organization.

  • Encourage Professional Development

The best employees expect to be offered opportunities for professional development. For example, companies can offer tuition reimbursement to encourage additional education, training or industry certification. Companies can provide online training to enhance employees’ qualifications for promotion. Employees consistently engaged in learning feel greater job satisfaction, increase their contributions to the organization and remain with the company longer.

For assistance securing skilled professionals for your organization, contact WinCorp Solutions today.

Attracting the Top Accounting Talent to Your Business

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Hiring top accounting talent is a necessary part of growing a business. With the high costs involved in recruiting, it’s imperative the right professionals are in place throughout an organization. Here are four ways a company can attract top accounting talent.

  • Network

Networking introduces top accountants to the roles they desire. For example, companies can utilize LinkedIn to search for accountants in the company’s geographic area, find candidates who are already connected to the organization, and ask to be connected with those candidates. Using warm introductions increases the potential for successful results. Also, if managers attended college locally, they can join alumni associations and post in their online message boards and social media groups when positions become available. Managers can contact accountants who left the company on good terms and may want to come back. Those accountants would be more productive when rejoining the company than a new hire without previous experience. Furthermore, managers can host career fairs at local college campuses and open houses at high schools to promote the accounting industry and positions available within the company.

  • Offer Internships

Internship programs provide a direct pipeline to accounting students. Future accountants can adapt to company culture while applying what they learned in school to gain on-the-job experience. Employers can evaluate interns’ performance to determine who should be offered full-time roles within the organization.

  • Provide Opportunities to Advance

When a company has a track record of developing and promoting top employees, more accountants compete to work for the organization. Top professionals want to continually develop their skills so they can move on to greater opportunities. For example, accountants should be able to work with clients from start to finish to experience the entire accounting process. Also, accountants should work in audit, tax, consulting and other areas to see which field they prefer. In addition, accountants should be given increased responsibility, more input in management decisions and the potential to become partners in a firm. Furthermore, continuing education should be provided so that accountants interact with other professionals, stay current in their field and add to their skill sets.

  • Partner With WinCorp Solutions

Partnering with WinCorp Solutions provides access to our vast pool of top accounting professionals. As experts in our field, we place the most qualified candidates to fill all of a company’s accounting needs. Organizations save time and money by engaging us as active participants in their recruiting process.

For assistance securing accounting professionals for your organization, contact WinCorp Solutions today.

The Financial Sector and Gender Diversity

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As a traditionally male-dominated industry, the financial sector is becoming more gender inclusive. More firms are realizing that empowering females to work at all levels increases innovation and moves organizations forward. Here are three ways the financial sector is working to promote gender diversity.

  • Welcoming Females in Finance

Major firms are forming special programs welcoming females into the financial services industry. For example, Merrill Lynch partnered with the Columbia Business School to launch Greater Returns, a program designed to welcome females reentering the workforce. The program provides opportunities for networking and leadership development to help females advance their careers. Goldman Sachs launched Returnship Initiative, similar to an internship but focused on providing intense training, mentoring and work experience for females restarting their careers. In addition, Bank of America launched Career Connections, designed to maintain connections with female alumni from financial organizations who took time off from their careers and want to reenter the workforce. When senior- and mid-level executives plan on taking off for one to three years, the executives help create a return plan and a schedule for contact and communications. Executives may still participate in company events to increase their skill sets. Upon returning to work, executives have a customized onboarding plan and peer coach to assist with the transition.

  • Adding Female Board Members

Increasing numbers of female board members in the finance industry are being reported. Opening up additional positions of influence for females will continue encouraging gender diversity in the field. For example, traditional qualifications for directors, including financial and operational skills and industry experience, are being replaced with qualifications such as technology and cybersecurity skills and international experience. Also, imposing a mandatory retirement age and term limits for directors can facilitate board composition changes. However, because the majority of banking and capital market companies lack a mandatory retirement age for directors, many directors serve long into their 70s. Because the majority of banking and capital market companies lack term limits for directors, the average tenure is eight years.

  • Modifying Company Policies

Many financial organizations are modifying company policies to accommodate the needs of female employees. Many firms are allowing remote work and flexible schedules to empower females to purse high-ranking roles. Also, many benefits are being added to provide support for females’ health and child care needs. Employees are being trained to identify gender discrimination and its effects on the workplace and business outcomes to cultivate a more inclusive work environment. Furthermore, programs are being designed to provide females with access to professional development opportunities to help advance their careers.

For assistance with securing a finance position, contact WinCorp Solutions today.

Why a Diverse Workplace Is Necessary in the Financial Sector

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Diversity is an important element of any company. Employing professionals with various backgrounds provides many benefits to an organization. This is especially true in financial services. Here are four reasons a diverse workplace is necessary in the financial sector.

  • Recruit Top Talent

Focusing on diversity is imperative for hiring the most skilled financial professionals. Due to the continually changing economic climate, firms need to hire and retain the most qualified professionals to remain competitive. Hiring for diversity provides access to a wide range of candidates with the hard and soft skills and experience necessary to increase a firm’s market performance.

  • Cultivate Client Relationships

When financial professionals embody the behaviors necessary for serving a diverse population, they can enter into new markets and increase a firm’s revenue. For example, although women control a substantial amount of money worldwide, their demographic remains relatively untapped by the financial services industry. Not only do a significant number of females not have a financial advisor, a substantial number who do have an advisor feel their advisor does not understand their objectives. Therefore, by having a diverse group of financial advisors, a firm is better equipped for communicating with clients to determine their needs and wants and build trust. Clients will take a more active role in asking questions, choosing their investments and planning their financial future when they feel heard and respected.

  • Fill Client Needs

Because the global population is growing in heterogeneity, having a diverse workforce that anticipates market shifts and the needs and wants of clients provides a competitive advantage. Therefore, it’s important that a firm’s representatives reflect the clients they serve. For example, because female executives tend to more clearly understand the financial needs of female business owners and consumers, firms should be hiring more female executives.

  • Innovate

Hiring for diversity promotes innovation. Having professionals with varying backgrounds provides a strong foundation for solving complex problems in more efficient and effective ways. By encouraging the exploration of unconventional ideas and providing the resources to make those ideas viable, financial professionals desire to further contribute to the firm. As a result, new products and services are created, new markets are captured and revenue streams grow.

For assistance finding staff members or securing a role in finance, accounting or audit, contact WinCorp Solutions today.

The Questions You Need to Be Asking As a Small or Mid Size Business Owner

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As a small business owner, you can’t afford to make a bad choice when it comes to hiring new staff. A ‘bad hire’ can cost you valuable time, money and mis-hire carnage.

No small business stands alone; the best small businesses are collaborative ventures. And that means the best candidates must be strong team players, willing to do what is necessary to reach a project goal or other business deliverable. But teamwork and an entrepreneurial and independent spirit can be challenging to identify on a resume. What questions should you be asking during the interview process to ensure you are choosing the right candidate?

Question #1

When do you do your best work – when working as part of a team or working alone on a single task or assignment.

We all enjoy a little peace and quiet every now and then. And intentional solitude has been proven to boost productivity, but if you’re interviewing a candidate who prefers isolation over teamwork, chances are they’re not the team player your small business needs.

Question #2:

What do you know about this company and why do you want to work here?

This question shows whether the candidate did research on your company. It is a great way to gauge their interest in the position and the organization. An individual who does their research before the interview will stand out as a more informed and competent candidate.

Question #3

Ask your candidate to describe a successful project they worked on, what their role was, and why the project was ultimately successful.

If a candidate quickly tells you about their personal achievements –  and why their role was vital to the project’s success – chances are they’ll be better suited to a position requiring less team focus.

But if the candidate was keen to elaborate on details about the project team – highlighting group actions and collaborative successes – you’ve just identified an ideal team player.

Question #4

We’ve all experienced conflict at some time. Anyone can have a bad day. And while conflict may be unavoidable, how someone chooses to deal with that conflict reveals a great deal about who they really are.

Ask a candidate to describe a situation where they had to deal with conflict and how they resolved the issue.

Did the candidate talk about something that happened months or maybe even years ago – but with very real, very current emotion? If they did, it’s a big red flag. A candidate who displays an emotional response to a work-related conflict is giving you a clear signal that they have a limited capability to thrive in group settings.

But, if your candidate was quick to describe something that happened in an even manner without overt sentiment, they’re demonstrating a strong ability to step aside from personal emotions and focus on moving forward for the benefit of the team. And that’s something only a great team player will do.

Knowing the right questions to ask a candidate can be tricky! If you run a small business, you can’t afford to hire the wrong person; you need to be confident your next employee is the right person for the job. And that’s where the specialized recruiters at WinCorp Solutions can help. They’re specialists, just like you are. Reach out to the team today and let them help you find your next SBS (small-business-superstar).

Interview Mistakes You’re Making That Are Costing You Your Dream Job

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You’ve had plenty of interview chances, but you haven’t landed your dream job. These mistakes during the interview could be what are costing you job offers.

Here are four of the most common interview mistakes that can cost you your dream job.

One Word Answers

No one likes a chatterbox but the opposite can be just as detrimental. An interview is your chance to shine and sell yourself, letting the hiring manager know why you’re the perfect person for the position. But even if you’re nervous you’ll need to push through and answer with more than just a yes or a no. Provide answers that are thorough, demonstrating your skills as they relate to the job. Employers prefer critical thinkers, so be sure to provide thoughtful answers. Providing a specific past work experience as an example is also a strong answer.

 

Negativity Towards a Former Employer

You might not have enjoyed the time you spent with a particular company – and you may have good reasons to feel that way – but keep your opinions to yourself during the interview. Running down a former employer casts a shadow over your application and interview. Not only does it make you look unprofessional, but may suggest that you are negative as well.

 

Failing to Ask The Interviewer Questions

It might feel like an interview is one-sided with the interviewer asking all the questions, but that isn’t the case. A good interview is a two-way street and you’ll stay on the hiring manager’s radar if you ask engaged questions. This not only shows you’re interested in the position, it also shows you’re already investing time and energy into the company. Consider asking a few smart questions about the company’s plan for the future, or current projects. You can ask a question such as, “What are some challenges the company has faced due to industry trends and/or changes?” By asking a mixture of hands-on job related questions and inquisitive questions, you are showing the interviewer you have multiple perspectives and dimensions.

 

Forgetting to Follow Up

If you’re like most people, you probably feel a great sense of relief when you walk out of the interview. But don’t call it a day yet, because you’re not quite finished. Following up after an interview is an important part of the entire interview process. So send a quick email to your interviewer thanking them for their time and interest in your application. And don’t forget to include a comment about being interested in the position. It’s a simple, easy way to remind the hiring manager you want to work with their company.

 

Preparing for an interview might seem overwhelming, but it doesn’t have to be. If you think you would benefit from a little interview prep or would like to explore current vacancies, reach out to the specialized recruiters at WinCorp Solutions. Their team of staffing experts are ready to help you land your dream job. Get in touch today.