Terminate? That is too expensive!

I was sitting with a client a couple of weeks ago discussing their current accounting and finance staffing needs. The person I was meeting with shared with me that the current CFO has been with the organization for over twenty years. Started as a junior accountant, progressed throughout the years, and when the CFO resigned, they believed he was the perfect replacement. They continued to share with me that unfortunately it is not working out as they believed it would and that in this role his performance and skill set does not meet their needs, yet, they are holding back from letting him go. “What are the reasons that you are holding back?” I asked. The response was not surprising to me, as I have heard it many times before. From a humanitarian prospective they feel terrible, “he is a loyal employee, has been with the organization for a long time, how we can let him go now? Besides, what kind of an affect will it have on the rest of the Finance team”? From a business prospective they claim “it will be too expensive” because according to The Employment Standards Act without a written notice of termination he must be given termination pay in a lump sum equal to the regular wages plus vacation pay and benefits, he has been with us for over 20 years and therefore, he would be entitled to a minimum of $50,000 + benefits”.

So, yes, on the surface it is a large sum of money to fork out at one time. Think about it though…….is it really? The dictionary defines expensive as “costing a lot of money”. By keeping an employee that is lacking the full knowledge and skill set to do their job is costing your organization a lot more than the actual one time amount that is required to be paid upon termination. You will continue to incur direct and indirect costs such as:

  • The base salary + 4% vacation pay, + benefits, that is costing you money
  • Because they are under performing in their present job, that is costing you money
  • They know that they are under performing, so, no doubt they are frustrated and stressful, that is costing you money
  • The efficiency and effectiveness of the whole team is not up to par, that is costing you money
  • The team recognizes that their boss is not performing up to par, and are most likely looking at other places of employment, that is costing you money
  • Additional external monthly and annual help from your CA firm or auditors, that is costing you money
  • Hiring contractors through an employment agency to ensure all reporting is completed on time and accurately, that is costing you money

Bottom Line: No doubt it is painful, no one likes to be the “bad” person letting someone go and terminating their livelihood. Once you recognize though, that an employee is not performing to your standards or is lacking the full skill set to complete their work, you do not have the luxury of keeping them on your payroll, because keeping them on your payroll IS EXPENSIVE!

Controllers On Call (ConC) has been steadily growing. We invite all candidates to submit their resume to resumes@controllersoncall.ca. (http://bit.ly/2mHNp8w). We invite clients to submit their inquiry to info@controllersoncall.ca (http://bit.ly/2ltpd9R).

Thank you very much for giving up some of your valuable time and reading my post. I regularly write about employment and business related issues and trends. To read any of my posts is easy. I would love to hear your opinion – let your voice be heard. Please join me on:

Twitter:              https://goo.gl/2IfxNT

Website:            http://bit.ly/2kBhhlK

LinkedIn:           https://goo.gl/GdHmAL

Blog:                  https://goo.gl/xygswK

 

 

Advertisements

Inner-Company Analyst – 4-6 months contract

Employment Type: Contract – 4 months

Job Industry: Construction / Real-Estate

Job Location: Downtown Toronto

Our client, a major player in real-estate and construction is seeking a logical, methodical, detailed-oriented, roll up your sleeves experienced professional to join the growing finance team for the next 4 months, with the possibility of extension. You bring with you the ability to work independently, meet all required deadlines. Reporting to the VP Finance,

YOUR MAIN RESPONSIBILITIES ARE:

  • Reconcile inter-company issues due to JD Edwards Conversion company wide
  • Other duties as assigned

YOU BRING WITH YOU:

  • CGA, or CMA, CA, or CPA designation, an asset, not a must
  • 5+ years of relevant experience
  • Exceptional JD Edwards (JDE) skills are a MUST
  • Exceptional Excel skills are a MUST
  • Previous experience performing these tasks is a MUST
  • Attention to details, patience and sound fundamental reconciliation skills
  • Great communication skills and ability to interact with senior management and the team

E-mail (resumes@controllersoncall.ca) your resume today or Apply on line http://www.controllersoncall.ca/submit-inforesume.html

We thank and value all our applicants.

What is your contribution in a company that promotes positive culture?

There is no doubt that in order for any company to survive the ups and downs of any market situation, a company must first address its inner house issues for interpersonal relationships, be it management-workers, management-management, workers-management, workers-workers and all the in-between. To do that a company must be able to understand all parties, make sure it speaks the same language and that the messages are transmitted clear and loud.

Building trust is an important part of any relationship, and more so in business. Without trust between all teams, between the staff and management, there will never be a working and reliable interpersonal system in the working place. Trust is achieved by exercising our ability to listen as well as to converse.

A discussion between a father and his young innocent son makes this point very clear:

“Dad” asks the son: “What is a monologue? –

A monologue, son, is when one person talks to himself.

So what is a dialogue, dad? –

A dialogue, son, is when two people are talking to themselves.”

It is a fact that even when we think we are taking part in a dialogue, we are just waiting for our turn to sound our point and counter the other side’s point. A dialogue is really a conversation/discussion between two or more people that talk, listen to one another, exchange ideas and create a positive working atmosphere. This positive working atmosphere surely creates a better working place. Learn how to listen to your peers, and become a contributor to this positive working atmosphere resulting in better relationships between yourself, your immediate team and others.

Are you fortunate enough to work with a company that promotes a positive culture? A culture where integrity, respect, empathy, and etiquette are embedded into its logo? In case you are, you also know that as a direct result the company also has the respect of its clients, competitors and staff and will continue to grow and succeed.

Bottom Line: Recognize the fact that the company you work with has its own culture and code of conduct, your manager has his or her own personality, your team members surely come from diverse cultures with their own values. In order for you to fit in and contribute to the already existing positive culture, you must recognize your own personality traits and learn how to adjust accordingly. Be a part of the team and remember – NO MAN IS AN ISLAND!

Controllers On Call (ConC) has been steadily growing. We invite all candidates to submit their resume to resumes@controllersoncall.ca. (http://bit.ly/2mHNp8w). We invite clients to submit their inquiry to info@controllersoncall.ca (http://bit.ly/2ltpd9R).

 

Thank you very much for giving up some of your valuable time and reading my post. I regularly write about employment and business related issues and trends. To read any of my posts is easy. I would love to hear your opinion – let your voice be heard. Please join me on:

Twitter:              https://goo.gl/2IfxNT

Blog:                  https://goo.gl/xygswK

LinkedIn:           https://goo.gl/GdHmAL

Website:            http://bit.ly/2kBhhlK

International Woman Day are we making progress? Are we there yet?

International Women’s Day (IWD), originally called International Working Women’s Day, is celebrated on March 8th every year and commemorates the struggle for women’s rights.

History facts: It started February 28, 1909, in New York and organized by the Social Party of America, continued on March 8, 1917, in the capital of the Russian Empire in Petrograd when women textile workers began covering the whole city, resulting in the beginning of the Russian Revolution. Seven days later, the Emperor of Russia Nicholas II and the provisional Government granted women the right to vote. March the 8th was declared a national holiday in the Soviet Union in 1917. The day was predominantly celebrated by the socialist movement and communist countries until it was adopted in 1975 by the United Nations and is now celebrated world-wide. I take my hat off and thank the courage and bravery of these women movements.

Fast forward to 2017……think about this fact: We are marking 108 years since women started standing up for their rights and equality. What kind of progress have we really made? The ratio of women to men in Canada today is almost 1:1, therefore we can safely say that approximately 50% of the human race walking the streets of Canada are women and 50% are male.

No doubt today most reasonably informed members of society recognize that women are at least equal to males in capabilities, abilities, talents, intelligence and much more. Once 100% male dominated jobs are no longer so. To name just a few: Armed forces, Boxing, Police, Fire fighters, Politicians, Stand-up Comics. Canada, has already established the fact that women are equal to males in every possible way and are able to contribute and benefit our society as much as males do.

Yet, shockingly enough, the number of women in high managerial positions in Canada is well below their relative numbers. In Canadian society only 8.5% of women hold positions of power. To give ourselves credit though, we are making progress, albeit very slowly.

Bottom Line: Why am I writing this article? Think about it:

Consider the human race a powerful engine producing 100 horsepower, yet we choose to utilize only 50 horsepower of that engine. Being a woman and a contributing member to our society I do not understand why is that so? Why are we holding back women from reaching their full potential, thus creating a 50% loss to our Canadian society making us THE LOSERS – WHAT A SHAME! I encourage all of us wise humans, to utilize 100% of the power we were granted and give women their full fair share and make us THE WINNERS!

Controllers On Call (ConC) has been steadily growing. We invite all candidates to submit their resume to resumes@controllersoncall.ca. (http://bit.ly/2mHNp8w). We invite clients to submit their inquiry to info@controllersoncall.ca (http://bit.ly/2ltpd9R).

Thank you very much for giving up some of your valuable time and reading my post. I regularly write about employment and business related issues and trends. To read any of my posts is easy. I would love to hear your opinion – let your voice be heard. Please join me on:

Twitter:              https://goo.gl/2IfxNT

Blog:                  https://goo.gl/xygswK

LinkedIn:           https://goo.gl/GdHmAL

Website:            http://bit.ly/2kBhhlK

 

 

Are you living your dream?

 

Do you ever watch The Voice? So happens it is one of my favorite shows because of many reasons. The main reason though, is listening to the various unknown artists from all walks of life brave enough to display their singing talents. Prior to going on stage to perform in front of a very large audiences for the first time, not to mention the 4 (four) well known accomplished coaches, we are given an opportunity to get a glimpse into their current lives. A majority of these contestants are employed and satisfied with their profession. Yet what you hear over and over again – “I enjoy my job, being here on The Voice is a major challenge and I am looking forward to a new opportunity. Life is short and I want to live my dream” “I am prepared to leave my current job to pursue my dream…….this is my opportunity to do what I love most”.

Every time I hear this it makes me wonder how many more of us are out there which settled in a position which we are unhappy with. We all have our reasons – “I wanted to make my parents proud” “I wasn’t sure what I wanted to do”, “It will be too complicated to change now”, “I am not a spring chicken any more”, “I have a mortgage to pay” “Will I have the support of my family?”……..

The life cycle of your employment career is an extremely important component of what makes up the rest of your life. It has a beginning, a duration, and an end. Just like life, you could be simply passing time doing unimportant things while unhappy with your current career, or, Instead you could be creating an impressive monument to your hard work, integrity, efficiency, determination, ingenuity, creativity, leading you to an amazing success. Who knows? You may make it to the top 100 most successful influential people in our world called planet earth when you choose your right career path and get there.

By now in case you are unhappy with your current career path, and do not know what is the right career for you, please stop reading this article right now and go watch TV, go out for a drink with your friends or stay home and play solitaire.

When you choose your career path, you also choose the way to get there. So, in case you don’t have a clear career path you should not start your trip since you don’t know where you are headed, how will you know when you got there? Remember that you are at the helm, and in control of your own destiny. It is like going on a trip. You choose your destination, you choose the means of getting there. Car? Bus? Train? Boat? Plane? Ultimately it is your decision. How you get there, what is your cost, how much are you prepared to sacrifice? How quickly you want to reach your final destination is ultimately your call. It took me over 20 years to realize that accounting and finance is not my goal and purpose in life. It took me two years to achieve my current career goal. I sacrificed all that was going for me. I changed my career path to staffing and employment. It gives me purpose, it puts a smile on face each and every day and I am living the dream!

Once I have concluded that I am in a career which I dreaded, I knew it is time to set my goals and objectives leading me to my dream job. Goal setting for my new career path was a simple enough process – I knew my final destination. I kept it logical, non-emotional and fact based. It had a purpose and most importantly realistically founded. It contained achievable goals, and goals that that I was willing to pay the price for such as time, work life balance, and others that were important. It was a scary thought, yet the end result made it all worthwhile.

So in case you are at a cross road and are contemplating a major career change, a good way to start is by creating a “what would I love to do list”. Make it simple, clear, and based on your own vision of what your employment career looks and feels like. It is more than ok to include your friends, family and networks in your journey. They are surely to add a few ideas of how to get there which you might not have thought of. Include the internet in your search – today it is an amazing resource, offering extremely good employment related articles and blogs.

Divide your “what would I love to do list” into categories, and timelines – have a clear understanding of your career vision. Once you have this clear vision, you must learn how to open doors before you walk into the room, make things clear and easily interchangeable. After all, in real life things change in a moment’s notice, so be ready to face the music at any given time.

Bottom Line: Ask yourself why do I stay in a job that I do not enjoy and is making my life and those around me so miserable? Have the courage to stay focused only on things that matter to you and your ultimate career journey. It is easy to be distracted and discouraged. So don’t be! There may not be an immediate response to your employment applications simply for the fact that you lack the required experience for your new direction. You may receive an e-mail of “thank you for meeting with us, although we enjoyed meeting you, we chose another candidate to fill the role and are wishing you lots of luck in your job search”. Distraction and discouragement are dangerous, and most definitely will kill your success and prolong your journey – so don’t let it! Keep your goals on track, stay focused, believe in yourself and it will happen. Remember: Life is too short, you are the boss of your life! Live your dream!

Controllers On Call (ConC) has been steadily growing. We invite all candidates to submit their resume to resumes@controllersoncall.ca. (http://bit.ly/2mHNp8w). We invite clients to submit their inquiry to info@controllersoncall.ca (http://bit.ly/2ltpd9R).

Thank you very much for giving up some of your valuable time and reading my post. I regularly write about employment and business related issues and trends and would love to hear your opinion – let your voice be heard. Please join me on:

Twitter:              https://goo.gl/2IfxNT

Website:            http://bit.ly/2kBhhlK

LinkedIn:           https://goo.gl/GdHmAL

Blog:                  https://goo.gl/xygswK

 

 

An exciting full time opportunity – Assistant Controller with Yardi Experience

Employment Type: Full time

Job Industry: Property Management

Job Location: Toronto

Our client, is a full service property management company that specializes in managing Residential, Commercial, Industrial and Condominium properties with an ability to build long-term relationships with the property owners. They are known in the industry as property management specialists, with knowledge and a depth of experience with a variety of real estate assets and proven record of success. They currently have an urgent need for an assistant controller with extensive Yardi experience. This is an outstanding opportunity to work with the Director of Finance, join a growing finance team and play a key role in implementing additional modules in Yardi Voyager.

YOUR MAIN RESPONSIBILITIES ARE:

  • Yardi Voyager module implementations
  • Conducts Yardi training for both new and current employees (e.g., property managers, assistant managers, leasing agents, and all levels of maintenance) on the full usage of the YARDI system
  • Provides training to corporate staff on YARDI based on the employee’s area of responsibility (e.g., A/P, A/R, Payroll, Accounting, Maintenance, etc.)
  • Trouble shoots for YARDI related problems (e.g., incorrect postings, rent adjustments, journal entries, bank reconciliation, closing functions, etc.)
  • Creates, develops and prepares user-friendly training materials
  • Create and maintain custom reports
  • Provide system updates to users
  • Documents processes and procedures related to software solutions utilized by the field are in line with company policies
  • Organize the full accounting cycle for a portfolio of commercial real estate properties such as JE, GL reconciliation, cash, A/R, inter-company balances, prepaid expenses, fixed assets, accruals, liabilities, HST remittances for each property, month end and year end reporting, work with and assist the auditors
  • Ensure all transactions for new or sale of properties are recorded, monitor post-closing to be completed within the timeframe of the purchase and sale documentations
  • Oversee Payables and Receivables including review cash requirement reports and reconcile tenant statements
  • Ad hock reports
  • Other duties as assigned

YOU BRING WITH YOU:

  • 5+ years of solid accounting experience
  • Real Estate / Property Management experience
  • Yardi Voyager software experience is a must
  • Attention to detail with sound fundamental accounting skills
  • Excellent time management skills
  • Strong Organizational skills
  • Strong ability to meet tight deadlines and work under pressure
  • Great communication skills and ability to interact with all levels of management
  • Ability to work on multiple projects
  • Ability to meet deadlines

Join the team and make a difference!
E-mail (resumes@controllersoncall.ca) your resume today or Apply on line http://www.controllersoncall.ca/submit-inforesume.html

Baby Boomers Overqualified? Think Again!

The recruitment business has been an exciting part of my life for over twenty years. I have had the privilege of working with many candidates placing them in a variety of companies – from start-ups, to those who are listed on various stock exchanges and offices all over the world. 80% of our business is generated form contractors while the other 20% is generated from full time searches. Begs the question: why is the contract side of our business is so busy and successful?

Rewind your clocks 20 years back when Freedom 55 played a key part in the work force and less than one third of people were looking for work or employed altogether. Today, millions of baby boomers will retire by choice, a reality which employers are still struggling with especially when it comes to replacements.

I receive more resumes on a daily basis from candidates that have reached the 50+ years old mark applying to positions that are frequently way under qualified for their skill level, education and experience. I ask them this question over and over again. The ugly reality is – they would rather work for less and be busy then sit at home and watch television.

Here is an example: A candidate which holds an MBA degree earned at a reputable local university combined with a CPA designation, began his career in a junior position, worked himself up the ladder, settled down and was employed for the past many years with the same company. A few months back the company went through a major change, his job as the VP of Finance was terminated. After so many years of being employed is now back on the market and is actively job hunting. The resume and cover letter are very well written, a nice surprise as most candidates do not know how to do that, a very nice folder of recommendations from his ex- employer, ex- clients, and past business acquaintances. This candidate has been applying daily to various companies, to similar positions that he has held, was excited and hopeful when he was invited to several in person interviews for jobs that looked and felt like a perfect fit, yet, every time he thought he hit the jackpot, he got an e-mail letting him know how impressed they were with his qualifications and experience, thanked him for his time, and proceeded to say that they chose to go with another candidate as unfortunately he is “overqualified”, and wished him the best of luck in his job search.

Let us stop and think about this: According to the dictionary and to Wikipedia “Over qualification” is the state of being skilled or educated beyond what is necessary for a job.
So what? In case the position offered requires a worker to produce 10 mousetraps per day, they proceed and hire a worker for the same salary which produces 20 mousetraps per day, they have just doubled the production at the same cost. That is a good thing, is it not? So, what is the reason companies prefer to hire the “under qualified”? The only conclusion I can come to is that companies prefer to hire the least qualified candidates keeping their overhead cost to a minimum. Question is – do they really?

What does overqualified actually mean when a candidate is considered for a full time position?

  • Candidate brings 10+ years’ experience, and the company only needs someone with 5 years’ experience?
  • Candidate is able to make 20 mousetraps an hour and that creates pressure on the other staff members that have been making 10 mousetraps an hour for the last 20 years? Will that make them all look bad and they may lose their job?
  • Candidate will be bored at a job that is below his experience and may end up leaving?
  • Candidate may stand in the way when there is an opportunity to move up the ladder?
  • OR – could it simply be that the candidate is simply “too old”? Last I heard, it is illegal to say these words so as polite Canadians we simply exchange “too old” with “overqualified”?

Bottom Line: Regardless of what the job market considers “overqualified”, it seems that newly graduated candidate will probably get better job offers and get hired more quickly. This newly graduate will also exit very quickly as they are just embarking on their career journey and will keep on looking for better opportunities. As the door keeps on slamming on “overqualified” candidates, that are smart, bright, creative, reliable, experienced, flexible they choose the contract route where there is a start date and an end date, earn a higher salary and have fun in the process. Oddly enough, this is where the employer understands and values “overqualified” and is prepared to pay a premium, because they know that this candidate is able to roll up his or her sleeves, no training or supervision is required, and with the ability to wear many hats the job will get done.

Thank you very much for giving up some of your valuable time and reading my post. I regularly write about employment and business related issues and trends. To read any of my posts is easy. I would love to hear your opinion – let your voice be heard. Please join me on:

Twitter:              https://goo.gl/2IfxNT

Blog:                  https://goo.gl/xygswK

LinkedIn:           https://goo.gl/GdHmAL

Website:            http://bit.ly/2kBhhlK