© 2012 robert half management resources. an equal opportunity employer. benchmarking the finance...
TRANSCRIPT
© 2012 Robert Half Management Resources. An Equal Opportunity Employer.
Benchmarking the Finance Function 2012:
How Does Your Company Measure Up?
What We’ll Cover Today
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• Summary of survey findings
• How data can help benchmarking and target areas for improvement
• Staffing challenges
• Get full report at http://www.roberthalf.us/benchmarking
Background
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• 50-question survey of 262 financial executives
• U.S. respondents: 64%; Canada: 25%; France: 11%
• 65% private; 22% public; 10% nonprofit;3% government
• 76% of respondents have annual revenue under $500 million
If benchmarks suggest you’re out of line with other companies, you may need to improve …
• Technology
• Business processes
• Staffing approach
What Does It Mean?
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Flexible Staffing
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Changes in Number of Temporary, Interim or Contract ProfessionalsBased on Workload
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Financial Statement Preparation
Number of Business Days to Produce Draft Financial Statementsby Company Size & Location
Number of Business Days to File Financial StatementsWith Regulatory Agency by Company Size & Location
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Compliance Influences
Rising costs?• Additional regulations
• Audit fees and requirements
• Increased business complexity
• Labor costs
• Globalization
Decreasing costs?• Increased competition among CPA firms
• Standardization of practices
• Use of technology
• Systems and process improvements
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Challenges
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United States• Controlling costs/doing more with less• Regulatory requirements and compliance• Staffing
Canada• Accounting standards and regulations• System efficiencies• Staffing
• Two job markets
• Challenging to hire: 67%*
• Build in recruiting time
• Multiple offers, counteroffers more common
• Quick hiring required
* Robert Half survey ofmore than 4,000 executives
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Staffing: Not That Easy
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• Think of everyone as a recruiter
• Encourage employees as ambassadors
• Network online
• Use referral programs
Recruiting the Best:Enlist Employees
• Keep compensation on par or higher
• Consider bonuses, if needed
• Top candidates need a reason to change jobs
• Make them an offer they can’t refuse
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Recruiting the Best: Offer Competitive Compensation
Recruiting the Best: Work with a Specialized Recruiter• Specific experience
• Expansive networks
• Access to the most skilled professionals, including passive candidates
• Industry alliances
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Other Benefits of Flexible Staffing
• Protect jobs
• Reduce burnout
• Complete projects on time
• Cost-effectiveness
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Finding the Right Mix
The best approach is a blend
Full-time staff
Interim professionals
Increase your staffing flexibility