Year-end accounting for your company may mean a time of heavy workload and stress. New clients, preparing for tax season and covering employee vacations can leave your workplace in a bind. Learn how to better prepare for Q4 by following these three tips.
Hire Temporary Workers
You may want to hire temporary workers to fill in for absent employees. Many staff members will be out due to illness or taking year-end vacations. You may need help completing year-end projects or reaching company goals as well. Perhaps positions that need filling now will be phased out later due to budget cuts or reorganization.
A related option is hiring temporary-to-permanent workers, sort of a “try before you buy” arrangement. You can utilize a temporary employee’s services for a set time before deciding whether to hire the worker permanently based on their work ethic and culture fit.
Hire Permanent Employees
Hiring at year-end helps you invest the remainder of your 2016 budgets wisely. Begin hiring at the top of Q4, before qualified candidates become preoccupied with the holiday season. You’ll have time to train new employees on internal processes and procedures, and keep productivity going strong into the new year. As an added bonus, new hires will be able to meet co-workers at holiday parties and rapidly integrate into company culture.
Set Production Goals
Focus on the business goals you set during the previous year’s annual employee reviews and see in which areas your staff met those goals and which areas need work. You may want to use a type of measurement including a rating for “exceptional performance,” “strong performance,” “fully competent,” “continued development,” “poor,” or “new to position.” If an employee rates below “fully competent,” give the accountant feedback for developing necessary skills to correct the problem. If specific goals have not been met, determine what each worker needs to do to fulfill his responsibilities, then map out steps for individuals to complete their work. Because employee salaries, bonuses, and promotion opportunities are typically tied to reaching company objectives, employees are more likely to work harder when you help them earn more money.
Preparing for Q4 in accounting is a stressful undertaking. Let our trained experts help you with all your staffing needs. Contact Trimble and Associates today!