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Building Accounting and Finance Teams

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10 tips for finding and keeping talent

Business is all about people, and that’s especially true for your team of employees. Naturally, you want to build great Accounting and Finance teams that are packed with top talent who want to stick around and keep working with you—but how do you do that?

The following tips will help you hire and retain the right Accounting and Finance employees, which in turn strengthens your company’s environment and profitability.

Hiring talent

  • Make your company worth working for. The better positioned you are as an industry authority, the more likely top talent is to want to work for you. By branding your business as a force that will be around for years to come, you’ll naturally attract talented employees who are looking for a great, long-lasting career with room to grow.
  • Look for motivation outside of money. Of course, salary is going to be a concern for any prospective employee—but make sure they’re not focused solely on dollar signs. You want to hire team members who are truly interested in what your business is doing, with a passion for the work that will sustain them (and you) long-term.
  • Don’t settle for “good enough.” The hiring process isn’t the most fun aspect of your business, and most people don’t want to deal with it for very long. In the interests of filling your open positions as quickly as possible, you may hire the first person who comes along with the minimum qualifications, just to get it over with. Resist temptation, and keep looking for someone who’s got the full package—skills, qualifications, and the right personality for your work culture.
  • Seek out diversity. Smart hiring managers don’t follow the ideas of diversity because of some predefined company quota. They know that great Accounting and Finance teams consist of a variety of viewpoints. A group of people with diverse backgrounds, races, ages, and genders will be able to approach issues from different directions and find innovative solutions.
  • Invest in your early staff and new hires from the start. When you spend a lot of time training and nurturing the first members of your team, they’ll pay it forward. With a core team of financial employees who already know how the business works, they’ll be able to pass that training and knowledge on to subsequent hires—and create a sense of camaraderie throughout the team.

Keeping talent

  • Learn what works, and do it again. It’s frustrating for both employees and management when plans fail, or efforts fall short of targets. You can keep employees happier and more productive by maintaining systematic processes—break down successful projects into the steps that brought you there, and repeat that process for future efforts.
  • Monitor your employees’ strengths—and weaknesses. Every manager knows the theory of “aces in their places.” When you have an employee who’s fantastic at doing something, you keep them doing it. However, it’s better to have a team of all-around great employees than a group where each person does something different—not only because you’ll find yourself at a loss when “the Financial Modeling Guru” is on vacation, but also because your employees will get bored with too much repetitiveness. Take the time to address weaknesses in your team members and help them improve.
  • Recognize great work. This should go without saying, but there are quite a few supervisors who only talk about results with their employees when something goes wrong. Offering recognition for a job well done will not only please the recognized team member, but also inspire others to do great work so they can earn the same rewards.
  • Get personal. You don’t have to turn your office into a confessional, but your team will truly appreciate the acknowledgment that they have lives outside of work, and that you care about them. It’s a simple matter to present employees with cards or small gifts for special occasions like birthdays, weddings, and anniversaries—and they’ll be touched by the gesture.
  • Yes, you can be friends. It’s said that an effective manager is a boss, not a friend—but a little bit of friendship on the job goes a long way toward building a strong financial team. There’s no need to spend your evenings hanging out with employees outside of work, but creating a friendly on-the-job atmosphere will bolster positivity, productivity, and satisfaction all around.

With just a few extra steps, you can form teams of Accounting and Finance employees that elevate your business to new levels of productivity, help improve your profits, and ultimately make your company a great place to work.

 

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