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HR Department - Complete Controller

When preparing to launch a business venture, entrepreneurs are faced with creating and developing a healthy and productive operational team. This involves organizing functional departments such as marketing, accounting, technology, customer service, and – Human Resources. You will need a designated plan for addressing recruiting, benefits, and compliance within your organization. These are the basic roles and responsibilities of an HR department and tips to ensure it runs smoothlyCheck out America's Best Bookkeepers

Recruiting

The major responsibility of the HR Department is staffing the company.  This is also called talent acquisition. Typically when there is a need for additional help, human resources creates a list of the job description and is responsible for attracting candidates with suitable skillsets and relevant expertise. This process can include posting on job boards, putting an ad in the classifieds, posting it on the company website, or using a third party service.

 

Talent Assessment

Talent assessment duties of the HR department include reviewing resumes, interviewing candidates, and testing their knowledge and skills relevant to the job. One major obstacle that HR typically faces is how to assess the loyalty and dedication of the candidate and potential new hire. Training and onboarding a new hire takes time and money; therefore, you want someone who will stick around. Check out America's Best Bookkeepers

A good tip to make sure you are hiring someone who has the potential for staying long term is by looking at how frequently they have switched their jobs in the past. If it is too frequent, then the chances are higher that they are looking for a better opportunity. While it is important to look into their education and certifications, overlooking job stability is a major flaw in the hiring process leading to severe consequences within the company.

Also, make sure that you interview candidates appropriately. It is important to have someone from the specific department help interview since they are the ones who will be working with that person.  

 

Terminating Employees

The HR department is also responsible for determining what constitutes grounds for terminating employment and deciding what that looks like. It can be very unhealthy for an organization’s firing process to be flawed. Companies show many talented employees at the exit door due to bad performance. What they may be missing here is the importance of looking into what is causing the bad performance. The employee may just be going through a bad phase of their lives. It is the job of an organization’s HR department to find out the problem with an employee and address it rather than firing them due to poor performance. Check out America's Best Bookkeepers

Favoritism

It is extremely important to have a department that is free of any favoritism as this is the biggest concern in the corporate sector. Usually, a successful HR department incorporates some sort of policy into a job application that disallows the family of the executives to apply for the job. This ensures your company avoids hiring on people that don’t add any value to the company.

Legal Compliance

Another major part of the HR Department is to make sure all of the correct tax forms are filled out when onboarding new employees. Any mistakes in this area can lead to fines by the IRS and loss of money from the company.

Conclusion

These are the common mistakes that ultimately prove to be fatal and unfixable. Statistics show that more than half of the small businesses worldwide dissolve within their first few years, and mistakes made in HR have the potential to cost a larger established firm millions of dollars. Ensure your company succeeds and invest in a qualified team.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
team building - Complete Controller

It is easy for a company to create an environment of trust and understanding when the employees are available in one building and working together for eight hours a day. However, the story changes when the employees have not met each other ever but are a part of the company’s objective. This scenario is of a typical virtual based company, which does not have a physical office. The problem here is how one can create a relationship-oriented environment among the member of virtual teams. Here are some of the ways through which better teams can be created in a virtual environment. Check out America's Best Bookkeepers

The first thing virtual companies should adopt is of encouraging employees to involve in casual chitchat. There should be any restriction on the employees to meet one another outside the company. A team, no matter where they exist, always need to have a healthy relationship with one another to keep the operations smooth. Remotely working teams do not get much chance to involve in any casual communication. The virtual must create such a situation where team members have to have chitchats with one another.

The next technique is to break the ice by sending an email to the employees, asking a general question. Another option can be of the portal that can be based on the same network. Such a question on portal or emails would create a healthy environment in the virtual workplace. Each one would ask the opinions of the other people, which would help them know who can be a friend out of them. The most important thing is to build a relationship based on trust and understanding. Check out America's Best Bookkeepers

The managers in virtual companies also use activities other than the assigned work to encourage team-building efforts. Companies can use online games and start a competition between the team members. This way, there would be a fun environment in the workplace, and the member would get to know each other. Moreover, games can make the skills of the members clear as well. The managers can identify who has the skill set of leadership. The leaders can then use the information and utilize it for future decision-making about the roles of members in the company.

The members of the virtual teams are not necessarily from different countries or continents. Virtual companies can arrange picnics that can bring the member together with other than the virtual environment. It is a common wish of each member of the virtual team to meet the team members. The only issue in this would be with the employees who telecommute from areas far away from the virtual company’s home country. However, the ones who can attend the picnic can join the team in this team activity. Check out America's Best Bookkeepers

Most of the employees complain that virtual companies do offer virtual team bonding activities. Around 65% of the employees who work for a virtual company have the same complaint that they have not seen the actual person in real. The activities designed to improve the bonding of the employees should be further encouraged. Such activities should be a part of the task. The managers can control the activities, and there can be points based on building.

The best part about virtual companies is the diverse backgrounds of the employees. This diversity means that the virtual company would have so many cultures in the virtual workplace. The company can have seminars based on the understanding of different cultures.

Cross-cultural knowledge would open opportunities for the virtual company to attract more international markets. The virtual business can grow, and the business can move to a physical office as well. The physical office would give the employees an option to choose between working from home and working at the physical workplace.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
team strengths - Complete Controller

Leadership Skills in a New Business

Entrepreneurs are considered leaders with vision and creative ideas that take the strengths of the company and employees together to achieve the goals of the business. Leaders of a new business take the responsibility of success or failure of the business upon themselves. The most prominent risk faced by any company is serious business debts.

 

Examples of failures of new companies in the corporate world show us that a difference between entrepreneurs and capable leaders exists. Entrepreneurs often have great ideas, but they lack the necessary leadership skills and proper bookkeeping for the execution of these ideas with adequate team management. Check out America's Best Bookkeepers

The central role of a leader in a start-up is not only generating ideas.  Taking the team and organizational resources now available to execute plans is a core leadership skill. Team building is another essential skill that leaders must have to make their company successful.

Decision Making Under Stress

The most significant strength of any leader of a new business or start-up is the ability to make crucial decisions in a short and limited time. Scientific research by experts at Harvard indicates that true leadership capabilities are determined when people are under duress. For example, how well does a leader handle their serious business debts?

 

Procrastination in leaders is not an ideal trait for running a new business smoothly. The leader needs to be vigilant and close to employees in critical times. Keeping the employees close and explaining to them the principles of proper bookkeeping makes for excellent leadership skills.  Check out America's Best Bookkeepers


Managing Teams in the Initial Stages of New Business

A significant strength of a new business leader in the art of managing people in teams to lead the company to achieve its goals and objectives. The difference between a failed venture and a successful one is selecting the right side. When the new start-up business is going through turmoil and faces the dangers of serious business debts, a successful leader will be aware of how his team members are handling their reactions in stressful situations.  A successful leader will also be able to lead by example and control his/her reactions to stressful situations.

 

Without proper guidance from the leader, the team will collapse and eventually cause the company to fail. Instead, the main strength of the company and its leaders is to use the positive attributes of each team member in different environments.

Irreplaceable Traits of a Leader

The leader of any new start-up must rely on their skills and focus and improve their decision-making skills because these traits are unique. Another important aspect of company strength is to stick with the founding team of the company when facing serious business debts.

 

Dealing with managing debts and similar critical business scenarios brings out the best and worst traits of teams and leadership.  It is important to rely on the strengths of each team member and communicate the problems wisely.

Communication between Team Members

Communication skills of a leader in a new business are important because the leader must be able to communicate all the necessary information needed for proper bookkeeping. The strength of a successful leader is to align the dominant and distinct features and abilities of teams. Check out America's Best Bookkeepers

 

The team must feel comfortable sharing their ideas to make the new company successful. For this purpose, the roles assigned to groups must be flexible and according to their abilities. Developing a new venture in the current volatile corporate environment is necessary for the leader and the team. The focus must be on getting new clients and adding more business while focusing on minimizing serious business debts.  Customer retention as a core strength of a new company depends on adequately communicating the client’s needs by business leaders to their team. Some client needs are complex and need more communication between groups and the leader.

The Bottom-Line Conclusion

Effective leadership is vital for new business ventures. The undeniable fact of skilled leadership leads to better management of the team. Proper team management is a major strength for the new business to overcome its challenges. The success of the company is a fraction of good performance by the leader and dependent on the role of team members and their efforts.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers