Category: Employers Insights

The Vital Role of Data Security in the Accounting Industry

Posted on by Martina Quinn
Data security in the accounting industry is vital

The significance of data security cannot be understated, as it poses a crucial concern not only for small organizations but also for large enterprises such as Google, Apple, and Amazon for example. For accounting firms and individual accountants, safeguarding confidential client information is essential to the success of their business. Therefore, ensuring data security is one of their topmost priorities.

Encryption is a widely adopted data security measure utilized by most accounting firms and Certified Public Accountants (CPAs) to safeguard confidential client data. Although encryption is considered the simplest and most reliable means of data security, some individuals still hesitate to implement it due to the perception that it is too complicated or may restrict their own access to the data.

This blog will touch upon several cases that exemplify the adverse consequences of inadequate data security for accountants and firms. Additionally, it will provide solutions to prevent such situations.

Data Security Breach

A data breach occurs when confidential or sensitive information is accessed, viewed, or stolen by unauthorized individuals, groups, or software. This security breach can happen for various reasons, such as weak passwords, system vulnerabilities, phishing attacks, or insider threats. Data breaches can result in severe consequences, including financial losses, legal repercussions, reputational damage, and identity theft.

Data breaches have become increasingly common in recent times, and unfortunately, many accountants and accounting firms have fallen victim to these cybercrimes in the past. The theft or loss of laptops and other electronic devices that contain proprietary and sensitive client and corporate information is the most prevalent cause of data breaches in this industry. If this information falls into the wrong hands, the consequences can be catastrophic in a matter of moments.

The worst part is that in such situations, the accountant or the firm is usually held accountable for any potential loss or damage, which can result in class-action lawsuits or fines to cover data recovery costs. Moreover, the loss of industry reputation and client trust is even more detrimental to accountants and firms in such cases.

Data Security Accounting Solutions

In addition to their conventional roles, modern accountants and accounting firms must also function as data collectors and managers, dealing with vast amounts of data. This data often comprises confidential financial, payroll, and tax-related information, which needs to be handled and distributed with utmost care.

Moreover, in addition to their client’s data, accounting firms and accountants must also manage and safeguard their personal information to ensure robust data security practices throughout.

In the event of a data breach or cyber-attack, both confidential client data and accounting firm data are vulnerable. This jeopardizes not only the reputation and credibility of the accountant or firm but may also result in legal action and significant financial losses for them and their clients.

Here are a few key takeaways from Tech Guru on “7 Security Tips to Keep Your Accounting Firm Secure,” which can help you gain a better understanding of the latest data security practices and standards in the accounting industry.

Secure Mobile Devices for Data Security Accounting

Mobile device data breaches are primarily caused by application-specific cyberattacks, which constitute 42% of all such breaches. Web application attacks account for 31% of these breaches. These application-specific attacks make up a significant portion (73%) of all cyberattacks targeting the finance industry. This trend is attributed to the growing reliance of accounting firms on cloud technologies, web extensions, mobile apps, and client portals.

  • Using 2-Factor Authentication (with biometrics and strong passwords)
  • Encrypting devices
  • Installing antivirus applications
  • Updating software whenever available
  • Avoiding public or free Wi-Fi

Enforce Cybersecurity Training

The first line of defence against cyberattacks is proper training. Having advanced security systems and protocols in place is futile if an employee falls prey to a phishing email or inadvertently downloads malware from an attachment.

Managers must ensure that the entire team is equipped to identify and handle phishing attacks. Additionally, employees must be educated about other threats, including:

  • Ransomware
  • Malware and viruses
  • Distributed denial-of-service (DDoS)
  • Insider threats
  • Brute force attacks
  • Social engineering

Invest in a VPN

By using a virtual private network (VPN), users can send and receive data sets on a public network as if they were directly connected to their firm’s private network. A VPN also grants access to other resources that may be inaccessible on a public network.

However, it’s important to note that not all VPN service providers offer encrypted connections, even though encryption is typically utilized. Benefits of a VPN include:

  • Increased security
  • Enhanced network management
  • Functionality and convenience

Keep All of Your Software Up to Date

To obtain the most up-to-date security features, users must update their software regularly. This doesn’t just apply to antivirus software, as major hardware and software developers such as Microsoft and Apple incorporate the most advanced security measures in their products.

It is crucial for accounting firms to download the most recent versions of computer operating systems, programs, and applications onto their technical infrastructure, office equipment, and individual computing devices used by staff members.

Use Password Management Software

Password managers are useful tools that allow users to store usernames and passwords securely across their entire team. They are cost-effective and simple to use, whether a company has a small or large workforce.

These programs offer features like setting password strength rules and whitelisting the company’s IP addresses and those of its associates. Passwords can also be locked using IP restrictions or geo-locking, which prevents those outside the geographic area from accessing them. The two most popular and highly secure password management software programs are Practice Protect and LastPass.

Extra tip: To keep passwords secure, it’s important to enforce strong passwords and disable the “save password” feature on all work devices. This is because insider threats often use this method to obtain data for malicious purposes.

Backup All of Your Data to the Cloud

To improve data security, migrating to the cloud is crucial for accounting firms. Cyber attackers may not always intend to steal data for their own use or sell to others. Instead, they encrypt data and demand a ransom to release it.

By backing up data on cloud-based platforms, firms can avoid paying the ransom and still access their data. The following are two recommended cloud-based data platforms:

  • SharePoint
  • Rewind

Hire a Team of Experts

Accountants are knowledgeable in finance, but not necessarily in IT. Cybercriminals are adept at bypassing even the most advanced security systems. In contrast, employees within accounting firms may have limited knowledge of basic security features within their tech stack.

This is where IT strategists come in. They specialize in cybersecurity and are able to monitor a firm’s security infrastructure for both internal and external threats. Additionally, IT strategists can educate and train staff on the most effective processes, protocols, and best practices for ensuring optimal security.

Nowadays, data security is a crucial factor that determines the reliability and credibility of accountants and accounting firms. For some clients, data security is even the top priority when selecting an accounting partner.

Conclusion

Large enterprises have the necessary knowledge and resources to ensure top-notch data security. However, smaller firms and individual accountants often lack the same knowledge and resources to establish a robust and dynamic data environment.

Data security has become one of the highest priorities for accountants and accounting firms today. It is an indicator of a firm’s or an accountant’s reliability and reputation, distinguishing between a secure data environment and a total data breach disaster.

What we can do for you

Martina Quinn Finance Recruitment specialises in the placement of qualified accountants up to the executive level nationwide. Our teams have extensive experience (67 years combined) in recruiting in the Irish Market.

We also provide interview preparation to ensure you have the best chance of landing the job. Reach out to the team here at Martina Quinn Finance Recruitment for the best advice and support in building your finance teams contact us today.

Artificial intelligence Revolutionises Accounting: A Look into the Changing Landscape of the Industry and its Workforce

Posted on by Martina Quinn
Artificial intelligence in Accounting
Artificial intelligence in Accounting

Artificial intelligence (AI) is revolutionising the way the world works, and the accounting industry is no exception. AI has immense potential to replace manual tasks and free up people to engage in innovation and creativity.

But what does this mean for accounting jobs? Will AI replace accountants altogether, or will it create new opportunities for skilled professionals? In this article, we’ll explore how AI is changing accounting, what new opportunities it’s creating, and what accountants can do to thrive in the digital age.

What is Artificial intelligence in Accounting?

Artificial intelligence has reformed the field of accounting, especially in terms of data analytics and automation of repetitive tasks. Machine learning and other AI-powered technologies can enhance data analytics practices for accounting.

In addition, Artificial intelligence can streamline the audit and financial processes, making them more efficient and reducing the risk of human error. With the help of tech-based tools that organize information, AI can save a significant amount of time for bookkeepers, auditors, and financial professionals.

This not only improves their efficiency and effectiveness but also provides real-time financial visibility and insights. Ultimately, AI can lead to better-informed decisions and more value for clients.

Artificial intelligence is Creating Jobs in Accounting

Contrary to popular belief, AI is not going to replace human accountants altogether. In fact, the World Economic Forum (WEF) has issued numerous reports forecasting how AI will impact jobs worldwide. Their analysts predict that automation will result in an increase of 58 million jobs, two-thirds of which will be highly skilled.

They compare the current climate of change to similar times in the past. For example, in the early days of bookkeeping software, accounting jobs changed drastically. Intuit, launched in 1983, and Microsoft Excel, launched in 1985 did not in fact represent the demise of human bookkeepers, as many feared.

Instead, the field grew 75% over the course of a decade.

The net result of new technology in accounting and bookkeeping has been that accounts and tellers performed higher-skilled work than before. With Artificial intelligence and automation, this will continue to be true.

Benefits of Artificial intelligence for Accounting

One of the primary applications of Artificial intelligence in accounting is to automate repetitive tasks. AI-powered systems can efficiently and accurately handle a range of tasks, such as inputting and matching data, reconciling receipts, creating and sending invoices, preparing expense reports, tracking price changes, reconciling accounts, sorting transactions, and generating data reports.

The beauty of AI is that it is based on algorithms that can learn and improve over time as they are fed more data. This means that AI can adapt to changing business needs and processes, leading to even more efficient and effective performance. Moreover, unlike humans who can make mistakes, AI is immune to human error and can work continuously 24/7 without any break or fatigue. Preparation can be automated with AI, allowing bookkeepers to focus on higher-level tasks such as analysis, strategy, and business advisory services.

According to business.com balancing AI and human intelligence, accounting professionals and businesses can utilize technology to benefit their clients, simplify their work, and provide them with greater flexibility to pursue broader opportunities.

Benefits of Artificial intelligence in Accounting

Experts believe that Artificial intelligence can provide significant benefits to accountants, including:

  • Invisible Accounting: AI can automate mundane and repetitive tasks like data entry, freeing up human accountants to engage more with strategic decision-making. This leads to a more efficient use of time, which can be used to provide more value to clients.
  • Continuous Auditing: AI can continuously audit financial data without the need for breaks, resulting in no gaps in reason or precision, and providing a more accurate and real-time view of financials.
  • Active Insight: Accounting managers and leaders can get real-time visibility into their finances through AI-powered analytics and dashboards, enabling them to make better-informed decisions.

Conclusion

While AI may replace some of the tasks performed by bookkeepers, it does not mean that their jobs will become obsolete. Instead, AI can help bookkeepers to become more efficient and effective in their roles. Additionally, Artificial intelligence can provide significant benefits to accountants, including invisible accounting, continuous auditing, and active insight, ultimately leading to better-informed decisions and more value for clients.

What we can do for you

Martina Quinn Finance Recruitment specialises in the placement of qualified accountants up to the executive level nationwide. Our teams have extensive experience (67 years combined) in recruiting in the Irish Market.

We also provide interview preparation to ensure you have the best chance of landing the job. Reach out to the team here at Martina Quinn Finance Recruitment for the best advice and support in building your finance teams contact us today.

Writing The Best Accounting Job Ad That Will Increase Hiring

Posted on by Martina Quinn
Writing great job adverts will help attract the best accountants
Writing great accounting job adverts will help attract the best accountants

You have an accounting job opening, you need a new accountant and a thorough job description has already been written. You must now draw attention to the position; but, do you know how to create an accounting job advertisement that will increase your hiring?

In addition to encouraging talented accountants to apply, a well-written accounting job posting will help you create your company’s brand and a solid talent pool of future prospects.

Put yourself in the shoes of your ideal new accountant before you begin drafting the accounting job advertisement. What would you want to see on an the ad for your future job? Which language is most appealing to you? What facts will catch your attention?

Consider what makes your business distinct once you’ve written down a few ideas. Consider your own motivations for working there. You are the person best suited to discuss your business, what you do as an organization, and why you do it.

Even though it’s an old cliché, first impressions do matter. There’s a good chance that this job posting is the prospective accountants first contact with your business.

Accounting Job Ad Vs Accounting Job Description

There is some key differences between the accounting job ad and accounting job description
There is some key differences between the job ad and job description

It is vital to understand the differences between the accounting job advertisement and the accounting job description before we begin the writing process. Despite their close resemblance, they must constantly be recognized from one another. Here’s how…

The majority of the job description is internal and outlines the duties that the chosen candidate will perform. One of the initial phases in a company’s hiring procedure is it.


The accounting job advertisement is external and is intended to “sell” the opening by emphasizing the role’s desirable outcomes for candidates.

What to Include in The Accounting Job Advert

Here are six crucial points to concentrate on when creating your job advertisement because, as was previously mentioned, the individual reading it may have never heard of your organization before:

  1. Job Title – While jargon, acronyms, and internal titles may be widespread in your organization, others may not understand what they imply. The secret is to avoid using them.

Pro tip: Consider the search terms a jobseeker would enter into Google. They might enter “accountant jobs” or “accountant ninja,” respectively. The latter is rarely the case.

  1. Selling Features – Following the job title, you should immediately discuss the important selling points of the accounting position, such as what makes the position so amazing and why candidates would adore working for your business. Once more, think about it from the standpoint of the prospect. What do the people in your target demographic value most in their careers?

Pro Tip: Why not ask your present staff members what they enjoy most about their work and the organization, then include that information in your job advertisements? On Glassdoor, you can also find reviews.

3. Summary – The selling elements grab the attention of the reader, but this section of the accounting job ad should let your ideal candidate see themselves in the role. Use concrete language, succinct sentences, and action verbs throughout.

4. Salary – This is a critical component of the accounting job description that candidates look for. Even if you might not want to overtly advertise the pay, those who do typically receive a lot more applications (unsurprisingly). If you absolutely don’t want to mention your pay, think about offering a larger salary range.

5. Location—Being more descriptive here makes a significant effect. Could you give a more specific area rather than simply the city? Include the possibility of working remotely as well, if available.

  1. Job Details – Be as specific as possible about the position so that anyone reading it understands exactly what it entails, to whom it reports, what success looks like, and the prospects for advancement it offers.

When all of this information that applicants will need to know is cohesively woven together, you will have the makings of an excellent accounting job advertisement!

Some examples of excellent accounting job adverts.

How can you ensure that you provide sufficient context to your accounting audience?

Catch the attention of your target accounting audience
Catch the attention of your target audience

After going over the essential details you should always provide in a job advertisement, let’s discuss how you can contextualize it further and give it more life so it catches the attention of prospective hires.

First, briefly explain why you’re hiring. Is the department in question functioning well, is the business as a whole expanding, or do you need a certain set of talents that the current staff lacks?

Next, concentrate a little more on the business itself. Although this may have been covered under the “selling points,” you should tell the reader about your organization, why it’s a fantastic place to work, and any intriguing details that can draw in potential candidates.

Thirdly, mention a few advantages the chosen candidate will receive. Nowadays, people tend to pay much more attention to the perks they will receive than than their wage, even if the latter is still very important.

If you provide employees with a comprehensive list of benefits, this is the time to highlight them!

Finally, describe the perfect candidate for the position. Don’t forget to mention personality type and the kinds of values you expect each employee to uphold, as well as the essential abilities and qualifications. While the latter is more “company-wide,” there may be some traits that would be particularly advantageous to possess for the role.

Here, you might also go into detail about the application procedure, including how many steps there will be and when and where the interviews will be held.

Last but not least put a call to action in there. Depending on where you post the job advertisement, this might be anything. A simple “Apply Now” will do if the platform permits direct applications, but it’s always a good idea to include your email address and other contact information in case someone needs to get in touch with you.

How to write a “transparent” accounting job advertisement and why it might help you identify your ideal applicant.

In a nutshell, a straightforward job posting lacks any filler or sugar-coating. It’s a little bit different, but it’s said to draw better, more docile candidates.

You should consider the following if you want to produce a radically transparent job advert:

  • Describe “a day in the life” of this job.
  • Show the requirements for achieving quantifiable goals.
  • Describe why a top applicant would be drawn to this position.
  • Give the hiring manager a brief bio
  • Make the salary known.

Example Of An Excellent Job Advert

An example of an excellent accounting job advert
An example of an excellent accounting job advert

Time to start writing your Accounting Job Ad…

It’s time for you to start creating a accounting job advertisement for your opening now that you’ve read about how to make your job advertisement enticing and seen a few instances of that in action.

Need Some Help?

As a part of our recruitment services, we also provide writing and advertising for accounting job ads.

Martina Quinn Finance Recruitment specialises in the placement of qualified accountants up to executive level nationwide. Our teams have extensive experience (67 years combined) in recruiting in the Irish Market.

Our leading finance recruitment agency is based in Limerick, and we have excellent accounting and finance jobs in Limerick, Clare, and Tipperary. Check out some of our roles in our job portal.

Reach out to the team here in Martina Quinn Finance Recruitment for the best advice and support in building your finance teams contact us today.

Get The Finance Candidates You Deserve – A Guide

Posted on by Martina Quinn

Top accounting and finance organizations are reporting that it is challenging to source employees with the necessary skillset.

Getting the right candidates is proving difficult for accounting and finance organisations
Getting the right candidates is proving difficult for accounting and finance organisations

Due to a high demand and a limited supply, finding qualified accounting and finance specialists is difficult. It’s critical now more than ever that financial recruiters understand how to locate and hire talent in today’s competitive employment market given that jobs in the finance industry are predicted to grow to 50% hiring intention rate.

According to CPA Ireland who estimates a shortfall of almost 15,000 trainees in the accountancy profession over the last decade. This has led to a shortage in quality qualified candidates in the market.

To help you in your search for excellent hires, we’ve broken down the main recruitment challenges such as:

  1. Lack of qualified candidates
  2. Skills shortages
  3. Intense competition for talent
  4. Quick and ever evolving digital landscape

In this article we will share tips to overcome these challenges and land great hires for your business.

Develop Your Company Employer Brand:

If you want to compete for top talent and stand out in the financial industry, you must invest in your company’s employment brand name. Find out how your potential new hires view your brand and what information they are most interested in learning.

Developing your employee brand is crucial to attract at retain top accountants and finance professionals
Developing your employee brand is crucial to attract at retain top accountants and finance professionals

Recognize how it differs from what you are demonstrating to them. Try to alter their presumptions as much as you can to ultimately draw in more prospects.

Keep in mind that you’re competing with fledgling fintech start-ups, who probably have a fun, interesting employer brand. You must promote your business to your ideal candidates if you want to be truly competitive.

Use Recruitment Marketing Techniques For Hiring

The process of hiring continues after you establish your employer brand. To create a sizable pool of qualified candidates for present and future job openings and prospects, you should concentrate on targeted tactics.

Using recruitment marketing methods is a sure-fire way to draw in interested job seekers, but in order to do it successfully, you need to be innovative and think outside the box. It is a great technique to get and keep their attention to offer them pertinent electronic content and interesting employment ads.

Think outside the box to attract top accounting and finance talent to your organisation
Think outside the box to attract top accounting and finance talent to your organisation

Additionally, you can utilize technological tools like programmatic job advertising (often known as recruiting “bots”) to help you get your job openings in front of the appropriate candidates. This will enable you to target your ideal clients.

In order to significantly increase their ability to attract digital talent, 24% of firms in the financial services sector change brand perception through marketing and advertising according to PWC

Expand Your Sourcing Processes

You need to be looking in all the right places if you want to find the best financial services experts out there. Expanding your sourcing options is a terrific place to start because of this, but it might be easier said than done.

Make sure to promote your opportunities in as many pertinent locations as you can, including social media platforms and online job boards. Additionally, you can use LinkedIn to upload positions and try to source people.

Use as many different sources as you can to find prospects. A terrific way to meet entry-level applicants is to attend college and university graduation fairs and other recruiting events.

Establish a Graduate Employment Strategy.

One of the largest employers of entry-level workers is the financial solutions industry. Because of this, the majority of financial companies today use a graduate employment strategy to identify recent graduates who are just starting their careers.

While it is a great start, it is insufficient to retain momentum after you get them on board or to compete in such a competitive employment market. Establish a process for employing graduates from universities, but don’t just stop there.

Create a graduate programme that enables graduates to become future leaders in your business
Create a graduate programme that enables graduates to become future leaders in your business

Continuously work to improve their abilities and develop them into future leaders who will undoubtedly advance your business. “Train people well enough so they may leave, treat them well enough so they don’t want,” as Richard Branson once famously said.

Apply Inclusive Hiring Practices

It is clear that the finance sector has diversity issues. According to a recent study, fewer than 25% of people are aware that their companies are actively working to hire more women and people from ethnic minorities. There is always room for improvement even if finance organizations are making slow but steady progress in hiring even more diverse candidates.

You can utilize a variety of techniques to make your efforts at inclusive employment better. For instance, try crafting thorough job postings to attract a diverse pool of applicants and employ the principles of blind hiring to eliminate unconscious bias.

Make it a point to hire people based on their qualifications and skill sets to make sure they closely match what you’re looking for.

It’s critical to keep in mind that communicating your initiatives to both current and potential employees can help your inclusion and diversity policies as you grow your workforce. There is still a long way to go, but financial organizations are attempting to increase diversity in their workforce.

Create A Network of Corporate Alumni

When it comes to recruitment there should be a heavy emphasis on hiring experienced professionals and mid-career professionals not just young personnel and recent graduates. Due to their anxiety that history would repeat itself, many former employees left the sector during the economic downturn and never returned.

But why cut all ties with experienced finance specialists when lines of communication can easily be put in place. Maintaining contact with outstanding individuals is a great idea if you want to create a corporate alumni network that enables you to connect with former workers who left under favourable circumstances.

Consider creating a networking group on Facebook or LinkedIn that you can use to connect with former employees who might be hired again.

Job and Employee Growth Programmes.

It’s fantastic for your company to find and hire the appropriate people, but what do you do with them once they start working? You must have a suitable program for ongoing professional development that benefits you, your new hires, and your current personnel.

Create a suitable program for ongoing professional development that benefits you, your new hires, and your current personnel.
Create a suitable program for ongoing professional development that benefits you, your new hires, and your current personnel.

The foundation of your company’s employee growth  proposition is a well-functioning development program, which is a great method to show your dedication to assisting employees in advancing their roles and careers.

Remember that having thorough hiring procedures in place is not enough; you also need to provide your team with the tools, resources, and opportunities necessary for them to grow professionally. Your commitment to creating an inclusive workplace must be genuine and sincere.

Connect Online

We have access to a variety of technology tools, therefore it only makes sense to use them while making employment decisions. It is quite effective to connect with job candidates via email and social media platforms, 

Use LinkedIn to find accounting and finance professionals who are already actively looking for new roles
Use LinkedIn to find accounting and finance professionals who are already actively looking for new roles

Social networking sites like Twitter, Facebook, Instagram, and LinkedIn are excellent places to engage with potential customers. According to a LinkedIn research, 49% of professionals contact with businesses on social media networks primarily to advance their job search. Why not therefore find them there where they are already actively looking?

Set Up an Employee Referral Programme.

Employee recommendations are a great approach to recruit new employees. By saving costs on candidate sourcing, this method shortens the time needed to fill a vacancy. Additionally, you’ll hire new workers that already fit in well with your current team and company culture, making the situation all around advantageous.

Use A Trusted Specialist Finance Recruitment Agency.

Competition is fierce and talent is scarce. To find the best individuals for finance jobs, you must be confident in your recruitment strategies. Everything starts with explaining to them what it means for your company to hire both recent graduates and seasoned employees.

Let us take the pain away from the accounting and finance recruitment task
Let us take the pain away from the accounting and finance recruitment task

The simple solution is to leave it to the specialists, like us, If you think you lack the specialized knowledge or just don’t have the time since you are already juggling many jobs already, Once you’ve done that, everything else will be simple to arrange, and you’ll soon be recruiting A-list employees.

Our Solutions

Martina Quinn Finance Recruitment specialises in the placement of qualified accountants up to executive level nationwide, Our teams have extensive experience (67 years combined) recruiting in the Irish Market. Reach out to the team here in Martina Quinn Finance Recruitment for the best advice and support in building your finance teams contact us today.

Accounting & Finance Soft Skills to Upgrade – A Guide

Posted on by Martina Quinn
Accounting & Finance Soft Skills to Upgrade
Accounting & Finance Soft Skills to Upgrade

Communication, Collaboration, Time Management and Critical Commercial Thinking are four key soft skills that accounting, and finance professionals can upskill according to Journal of Accountancy. This will help with their existing role or if they are looking for a move to another organisation.

These softer skills are in high demand when it comes to hiring accounting and finance personnel. Here at Martina Quinn Finance Recruitment where our teams have extensive experience (67 years combined) recruiting in the Irish Market’, have seen a shift in what employers look for in new accounting and finance employees.

In the last 30 years we have lived through a digital revolution. It was a privilege and not a right to have a PC and access to the internet which used to be through dial up. An accountant’s trusty weapon of choice was a calculator.

In today’s world accounting and finance professionals need access to a solid laptop with excellent processors and plenty of RAM. This is because today’s accountant needs to be technologically clued into the many accounting and finance software platforms they need to use.

As the industry gets more digitalized and automated soft skills can often be overlooked when an accountant or finance professional was a student looking to climb the corporate ladder. However, its these soft skills that can help accountants and finance personnel to reach where they want to be.

A recent survey by the Society for Human Resource Management published in May 2020 titled “Leaders and Employees Need Soft Skills Now More than Ever”. In their survey 97% of employers stated soft skills were either as important or more important than hard skills.

Hiring managers naturally look through candidate’s experience, necessary education, and qualifications. However, this is when they are trying to get to know their candidates from CV or LinkedIn profile. Hiring managers will want accounting and finance personnel with great knowledge combined well rounded interpersonal skills too.

In making a decision for hiring accountants and finance professionals you will want personnel that possess the above-mentioned soft skills combined with experience and industry know how. In this article we provide detailed information about the four key soft skills hiring managers are looking for.

Communication

Communication is a key skill for accounting and finance professionals to develop
Communication is a key skill for accounting and finance professionals to develop

Accounting and finance professionals are what keep businesses moving they are the foundation of every organisation. At some stage every department and business function must interact with the finance or accountancy team. This could be invoices, credit control to company audit summaries.

For this reason, it’s important that companies have accounting and finance professionals with excellent communication skills. The ability to present and communicate corporate financial strategies and report findings to company board members is important and having adequate communication skills is the foundation.

Accounting and finance teams will need to persuade and articulate valid points behind financial decisions and will need senior directors to back their decisions from time to time. Having communications skills to do this will help jobseekers progress within the organisation.

Written communication skills are just as important as verbal. Getting the tone right in your emails to team members, management and clients is vital. Making sure your emails are clear and concise and friendly.

Top Tip: Try and avoid using accountancy jargon when communicating with clients and colleagues who don’t come from an accountancy and finance background. Write your piece in such a way that anyone could understand it, not just those on your finance team.

For written communication, read over it and doublecheck for errors. For presenting reports, we would recommend reading over your presentation slides and practising presenting it in advance.

Collaboration

As an accountant collaboration skills such as empathy, teamwork and problem-solving skills are all necessary to get ahead in your career
As an accountant collaboration skills such as empathy, teamwork and problem-solving skills are all necessary to get ahead in your career

Accounting and finance teams no longer work independently reporting on finance related items. Business and businesses have become more complex and the need to work and communicate with other departments is necessary.

Companies today want more involvement from the accountant and finance professional in the business process and decision making. Accountants and finance teams are required to analyse raw data and provide their advice on businesses decisions.

As an accountant collaboration skills such as empathy, teamwork and problem-solving skills are all necessary to get ahead in your career. The ability to collaborate with colleagues, clients and external suppliers is a key skill to develop and grow in the accounting and finance profession.

To enhance your collaboration skills, we advise to get involved in networking at company events, chamber of commerce events and industry relevant events. Get involved with social committees within your organisation and try to get to know everyone. You never know how ye can help each other in your current and future roles.

Time management

Time management is essential for the busy accounting and finance professional today
Time management is essential for the busy accounting and finance professional today

This is an essential skill for the accounting and finance professional. Its in the majority of job specs that go out on the job’s boards. This is because many accountancy firms are deadline focused and billing hours for clients need to be accurate.

Finance can be seen as more task orientated, so managing your time so you won’t be snowed in with work is essential. This particularly true when it comes to certain times of the year such as filing tax returns etc.  

Critical Commercial Thinking

Critical thinking and problem solving skills is what will help you succeed at your chosen firm.
Critical thinking and problem solving skills is what will help you succeed at your chosen firm.

In your accounting and finance career you might face new challenges or unexpected errors. Critical thinking and problem solving skills is what will help you succeed at your chosen firm.

Being a critical thinker will allow you to evaluate complex situations and allow you to come up with logical and sometimes creative answers to complicated questions or scenarios. Critical thinking will allow you to make informed business decisions and devising strategic plans.

Critical commercial thinking allows the accountant to use the numbers, data and look beyond them to determine where the business should be heading for.  A CFO needs to have excellent commercial awareness, look beyond the finance function and take in the bigger picture to know where value can be added to the business.

Being a critical commercial thinker is:

  1. Knowing what global events are happening that will affect your business,
  2. Understanding and being aware of the company’s market and its place in the macro environment
  3. Insight into new trends and new technologies and how they will benefit your market share

To progress your career soft skills could be the last piece of the jigsaw to climb the ladder in your organisation.

Our Solutions.

Martina Quinn Finance Recruitment specialises in the placement of qualified accountants up to executive level nationwide, Our teams have extensive experience (67 years combined) recruiting in the Irish Market. Reach out to the team here in Martina Quinn Finance Recruitment for the best advice and support in building your finance teams contact us today.

The Importance of an Onboarding Plan For Your New Accounting Hires – 4 Step Process

Posted on by Martina Quinn
Having an onboarding plan is crucial to your employer brand
Having an onboarding plan is crucial to your employer brand

So, you spent the time. you’ve went through so many applicants, you’ve done so many interviews. Maybe this took weeks, or even months, you filtered through all these people, you did all these interviews, and finally you’ve got that star player hired.

The next phase is crucial to ensure that your star accountant or financial professional fits into your organisation and team. The onboarding phase is where many companies can lose that star accounting and finance professional. The last thing you want is to start to whole process over again.

Its so easy for the hiring company to just let the new hire off to “do their thing” because usually by the time you’ve hired for this person, you needed them to start working weeks ago. With the demand for accounting and finance talent its so easy to do this because time is at a premium.

In many cases accounting and financial firms don’t have time to hire, write up job specs, filter through applications and sit through interviews and then try make a decision that best fits their organisation. Nor do senior finance and accounting personal have time to train and induct new hires to the company.

However here at Martina Quinn Finance Recruitment we would highly recommend you take the time to bed in your new star accounting and finance hire to retain your new star and current staff. In this post we show you a system that works.

We are in a phase where its currently a candidate driven market and competition for finance professionals and accountants, such as management accountants and treasury accountants are hard fought for.

According to Chantal Haynes-Curley of CPA Ireland “we witnessed a cataclysmic 49% decline in student registrations across all professional accountancy bodies, a figure attributed to the 2008 economic recession and lack of training opportunities for accountancy students.”

This is part of the reason for the skills gap in the accountancy and finance profession and why we are seeing salary inflation of skilled accounting and finance roles. A tactic rolled out by many employers to try attract and retain their staff.

To ensure your new hire feels apart of the company and the team around them getting the onboarding process right is a key strategy for improving your employer brand and recruiting the best accounting and finance talent on the market.

The onboarding process is your opportunity to make another first impression after the interview
The onboarding process is your opportunity to make another first impression after the interview

The onboarding process is your opportunity to make another first impression after the interview and a chance to set the foundations for the rest of your new star hire’s experience with your company. Once the onboarding phase is completed your new accounting and finance talent should have an in depth understanding of the organization’s culture and values.

If your firm is new to onboarding or if you’re looking to improve the HR process around the onboarding process, then understanding the below steps which we have provided can help your organisation.

A clear onboarding process will help you plan a clear strategy to engage candidates, improve new hire retention, and also help current employees adapt to your organizational practices.

The Onboarding Process.

Phase 1: Pre-Onboarding

The onboarding process can be broken down into four phases. The first phase is pre-on-boarding and should begin as soon as a verbal agreement of a job offer is accepted. Getting your onboarding preparation right is crucial as at this time as your candidates are most uncertain of what lies ahead.

Small miscommunications or a misunderstanding can make candidates doubt their decision to move into the accounting or finance role and join the company. However, get this right early on in the onboarding stage and your candidates will start to feel excited about joining your company and contributing to the team.

Regular communication about any updates that are going on in within the firm will help the new accounting and finance hire left feeling energised about starting the accounting job. During pre-onboarding the help, the new hire complete all the necessary paperwork such as contracts and payroll details.

Make sure to give the new starter time to finish up with their previous employer and finish exit tasks. If they are relocating to take up the new role check in with them to see if they need help finding accommodation.

A good idea is to send some content around the company in terms of the culture of the organisation what the building looks like inside and out and what their first day will look like.

Phase 2: Welcoming phase

The next phase is to welcome your new starter to the organisation and team. Providing an orientation will help new hires adapt to their new environment. Providing the new hire with a clear picture of the company will allow them to gain an understanding of how the company’s teams operate on an everyday basis.

The majority of new hires will be eager to prove themselves and will want to get started as soon as possible, for this reason it is recommended that the welcoming phase is kept to no longer than a week.

Their first day should be kept as simple as possible. Their orientation phase will help them gain an insight into the company’s culture and show them how work practices are aligned with the culture of the firm.  Housekeeping items such as annual leave, attendance and HR policies should be discussed at this stage.

The orientation phase is an opportunity to show them eateries, parking spots, printing equipment and medical facilities etc. Introduction to their new work colleagues and other stake holders is part of the induction phase.

The welcoming phase incorporates the small mundane things that could get overlooked but it’s an important step to ensure your new hire settles in well.

Phase 3: Role Specific Training

This phase is one of the most important phases of onboarding and can be linked back to how successful your new hires will be in their accounting and finance jobs. Your new hires may not know what it takes to thrive without formal training.

Dissatisfaction and frustration can develop can be a direct result of no training or poor training which in turn can lead to high turnover rates. According to Lorman

  • Nearly 59% of employees claim they had no workplace training and that most of their skills were self-taught.
  • 74% of workers are willing to learn new skills or re-train in order to remain employable.
  • 87% of millennials believe learning and development in the workplace is important.

However, if a well drafted training plan is in place will help new starters feel welcome and shows that the company cares about their progress and development. Employees should not feel overwhelmed by the training in place.

Everybody learns differently and at different paces, provide different types of learning techniques such as blended learning and self-paced learning. All learning materials should be stored in readily available access point such as an intranet or other cloud storage solution.

Phase 4: Transition to their new role.

Your new hire is ready to leave the nest and get stuck into their new accounting and finance job. The last phase is designed to set your new hires for success by setting out clear expectations for their new team members.

Set SMART goals for new starters which will help them visualise what success looks like. After six weeks a performance review is recommended so you can recognise their efforts while also providing feedback to help improve performance.

Onboarding ensures your new accounting and finance star hire fits your team. The process helps your new team member understand the company’s values, culture, and work. It improves employee retention and also your employer brand.

Onboarding ensures your new accounting and finance star hire fits your team
Onboarding ensures your new accounting and finance star hire fits your team

Our Solutions

Martina Quinn Finance Recruitment specialises in the placement of qualified accountants up to executive level nationwide, with over 18 year’s experience building excellent finance teams. Reach out to the team here in Martina Quinn Finance Recruitment for the best advice and support in building your finance teams contact us today.

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