Employee Benefit Plan Audit Answers
Picking the best person for the job means not bowing to pressure from clients, company officials or colleagues while keeping an open mind when considering candidates. The average cost of hiring an employee is almost 15% of his or her annual starting salary, according to a recent Employment Management Association study. This can cover everything from purchasing classified ads in newspapers and other publications or paying fees to recruiting firms to staff time spent developing job descriptions, reviewing resumes, conducting interviews, checking references, negotiating compensation packages and, finally, making a formal job offer. But beyond the sheer quantitative time involved in hiring, there also is a qualitative aspect. In recent years, businesses have be, come extremely sensitive in their approach to hiring. No longer is staffing a problem solved simply by creating new positions and seeking more full-time staff members. Executives who have witnessed the effects of corporate downsizing know that every staffing decision must be analyzed carefully before the search process begins. Senior management is concerned, too, as head-count issues have become a significant element in determining a business' overall financial success. The upshot is that hiring is more emotionally charged than ever. With the stakes so high, it's critical that potential political tensions surrounding staffing be defused as much as possible. Because staffing is so multifaceted, the political dangers can surface at any time in the process. Much of accounting involves a linear sequence of events, but stating isn't always straightforward. A classified ad can yield no one you would care to interview. A high-quality resume could suddenly surface after you've reviewed 60 resumes and narrowed the field to three finalists. An executive from a rival business may suddenly quit and seek the position you're looking to fill--after you've virtually decided on a candidate. Midway through the process, a senior manager might start asking new questions about whether the work could be done by a consultant. This volatility is part of what makes staffing such a potentially politicized problem. This article details a few typical challenges and suggests how to handle them effectively. Though these tips may be particularly useful to smaller businesses that don't have extensive human resources staffs, accountants at larger businesses also will find them effective in ensuring the hiring process goes as smoothly as possible. A CLEAR JOB DESCRIPTION Problem: Internal discord about the position's requirements. This can include disagreement over everything--from what kind of education, experience and skills are needed to the salary and potential for career growth. Solution: The first step to take in the hiring process is to develop a thorough job description. This is a good time to ask members of a department or workgroup for their suggestions on the necessary skills, experience and work style for the job. As you shape the description, ask the group: 1. Do we need somebody new to handle this position? 2. What kind of experience and credentials are we looking for? 3. Is the job, as we've described it, doable? Answering these questions will help the group clarify the specific details of the position. For example, in the case of an oil company's accounting department, a closer inspection of the work that needs to be done might show that it would be more productive to replace a senior manager with a combination of a junior professional with a background in accounts payable and an accountant with petroleum industry experience. In a CPA firm, a thorough examination of the staff's workload might reveal that heavy time demands are due to a particular client's seasonal patterns. This problem could be solved by using temporary employees or through flexible scheduling of existing staff. Assessing the firm's needs and developing a thorough job description make it much easier to choose from among candidates whose qualifications suit your needs. …