It’s the staff that adds value.
This is true for almost all companies, especially in the accounting and finance industry. Employees can make a great difference between profit and loss. But, no matter how carefully you choose, hire and train the best people, it’s inevitable that your employees will leave. But, there are helpful ways to increase your employee retention and here are some few:
2016 Deloitte’s Global Outsourcing Survey shows that outsourcing is becoming a vibrant pathway for small and medium enterprises to drive innovation and create improvement opportunities for their clients.
Some of the survey’s key findings include:
- 78 per cent of respondents have a positive feel about their outsourcing relationship
- Beyond cost savings, value is being achieved by more than 35 per cent of respondents through the impact of outsourcing, ease of relationship management, and improved strategic flexibility.
- Outsourcing is expected to increase in all areas, particularly Finance, IT, and HR.
- Finance sector, with 36 per cent, has the highest number of expected increase in use of outsourcing.
- 45 per cent of respondents see outsourcing as a key enabler of M&A activity
So you have found an outsourcing partner and have built an offshore team. Now what?
As marketer and success analyst Richard St. John has put it, “Success is a continuous journey.” So before you rest on your laurels, you should know that aside from having credible outsourcing partners, your company also needs a competitive management structure to oversee them. For example, here at The Outsourced Accountant, we have what we call “Australian Champions” who are responsible for the offshore team’s training and management. The effective collaboration of your Australian Champions and your offshore team is the key to the ultimate success of your business.
Now here are three things your company’s Australian Champions should know about managing an offshore team:
- Ensure Clear Communication
- Implement Strong Passwords
Enforcing strong passwords is probably the most basic and important step in protecting your data in the cloud. They have said it before, and we’re saying it again: don’t use the most common passwords like “123456”, “qwerty”, and “password”, or words easily associated to you like your name or your birthday. SplashData chief executive Morgan Slain said: “Any password using numbers alone should be avoided, especially sequences.” Your safest bet is using alphanumeric characters – a mixture of numbers, letters, and some punctuation. Also, change your passwords periodically.
Trello Big companies from different industries like The New York Times, Adobe, Tumblr, Google, and PayPal have been using Trello. Wanna know why? Trello is an online collaboration app that uses a board like Pinterest, except this board has a list of lists filled with cards. These cards can be dragged and dropped between lists and you can also add as many people to get involved in the workflow. Lists can be also reordered as needed. Trello works real-time with any device, anywhere. That means you can get updates instantly and get notified when important things come up. Perfect for accountants who are always on the go.