Industry Insights

Mike Manalac, CPA, shares his journey from public accounting to the tech industry, offering actionable advice for accountants looking to make a similar move. To break into tech or any competitive industry, be strategic, stand out, and take bold steps.

This blog discusses best practices for hiring university and college graduates, particularly in accounting and bookkeeping. Since graduates often lack extensive work experience, employers must assess their potential through testing.

The blog explores the increasing involvement of private equity (PE) in accounting firms and its potential impact on firm owners, emerging leaders, and staff accountants

Top accounting firms excel by aligning their hiring practices with strategic goals, focusing on candidate-centric job ads, leveraging employee referrals, and using data-driven tools like skills tests and structured interviews. A comprehensive approach that includes tailored onboarding and ongoing development helps firms attract, hire, and retain top talent while minimizing costly hiring mistakes.

The blog emphasizes the importance of testing and assessment in hiring decisions, particularly for support-level roles that are often overlooked despite their significant impact on business operations. While businesses commonly invest in assessments for middle-level roles (e.g., managers, accountants), and sometimes neglect higher-level roles due to overreliance on track records, they rarely assess support staff, citing cost concerns.

The blog discusses the value and ROI (Return on Investment) of pre-employment testing, addressing why many firms are hesitant to adopt it due to challenges in measuring its benefits. It highlights insights from Dr. Steve Blinkhorn, who breaks down the key factors that influence the ROI of testing.

At 11 years old, Donna Roughan dreamed of becoming an accountant, inspired by her exposure to her parents’ business finances. Initially envisioning a straightforward career of preparing financial statements and filing taxes, she discovered a profession far more dynamic and fulfilling. Her career included unexpected adventures like decommissioning a sawmill, working hands-on in the dairy industry, repossessing assets, managing vineyards, negotiating disputes, implementing software systems, and overseeing logistics operations.

Employers can integrate these tests into hiring processes, combining them with skills and personality assessments to build a complete candidate profile, ensuring informed and confident hiring decisions. Trial options are available for interested firms. Happy hiring!

The blog discusses an alternative approach to team development compared to traditional, uncomfortable team-building activities. At Accountests, they focus on assessing teams by identifying strengths, problem-solving and decision-making patterns, and blind spots that could hinder performance. They also address personality differences that may cause conflict or demotivation. The goal is to help teams understand their makeup and improve communication, conflict resolution, and external collaboration. Individuals also receive personalized development plans to foster career growth and improve retention.

This blog challenges the misconception that accounting is a dull and monotonous profession. Instead, it portrays accounting as a dynamic, versatile, and impactful career with vast opportunities. 

In today's tight labor market, transparent interviews are gaining attention as a fair and consistent method to evaluate candidates. Transparent interviews provide candidates with questions in advance, allowing them to showcase their suitability for the role. Explore how transparent interviews can enhance your hiring process by allowing for better-prepared candidates and more accurate assessments of their fit for the job.

The article discusses the challenges small and medium-sized accounting firms face in creating unbiased and diverse hiring processes, along with actionable tips for improvement.