Your accounting manager plays a vital role in your organization: In addition to supervising a large and diverse team, his or her responsibilities entail securing fresh financial talent and ensuring duties are evenly distributed when workloads are heavy. By recognizing the challenges your accounting manager faces on a daily basis, you can offer solutions to maintain and improve the efficiency, productivity and morale of your financial team.
Challenge: educating staff
The accounting manager needs to educate his or her staff on topics that range from ever-changing financial regulations to innovations in accounting software. While it's crucial for employees to remain current on issues in the financial realm, it can be difficult to work skills-development sessions into busy schedules.
Solution: You can save your accounting manager time and worry by stating exactly which skills, regulations or other topics you want the team to focus on. You can also sponsor weekly or biweekly lunch meetings that focus on industry updates.
Challenge: providing effective leadership
Your accounting manager needs to practice good leadership skills to effectively guide an accounting and finance team to success.
Solution: Set an example and show your support by regularly sitting down with your management staff. Listen as they update you on department successes and provide short briefs on day-to-day operations. Encourage managers to voice any concerns they may have. In addition, give your managers the opportunity to attend leadership seminars and financial conferences. That way, they can bring fresh knowledge back to your financial team.
Challenge: surviving heavy workloads
When the workload is heavier than usual, an accounting manager can be hard-pressed to determine how to delegate tasks to a busy full-time staff. An overwhelmed workforce will likely have low morale, which can be a detriment to productivity.
Solution: If your accounting manager deals with cyclical and seasonal workloads, provide some tips on how to spot the signs of burnout among the staff. Suggest he or she bring on a few temporary employees to ease the burden during peak periods. Full-time employees can focus on their daily tasks, while temporary staff can take on the extra, non-regular jobs and projects.
Challenge: recruiting and retaining talent
Skilled accounting and financial talent is in high demand, and recruiting qualified professionals can monopolize the better part of several workweeks for your accounting manager.
Solution: Suggest enlisting a specialized staffing agency to reach out to its network of local talent. Flexible staffing solutions free up more time for accounting managers to focus on ensuring the staff they already have are satisfied in their roles and feel appreciated. Also make sure to support your managers in their retention efforts by providing valued employees with perks and incentives and above-market compensation.
With recruiting top talent, overseeing busy periods and arranging educational training sessions, your accounting manager plays a critical and significant role in your organization. Demonstrate your recognition and support of the challenges your accounting and finance team faces daily. By staying on top of these potential issues, you can ensure the smooth operation and ultimate success of your department.