3 Mistakes Oklahoma CPAs Make with Bad Hires

3 Mistakes Oklahoma CPAs Make with Bad Hires

3-Mistakes-Oklahoma-CPAs-Make-with-Bad-HiresAll companies make hiring mistakes from time to time, but some errors cost the company more in wasted money and resources than others. These are what is known as “bad hires.”

Hiring managers typically stumble when they are pressured to fill a critical vacancy quickly, and like most rushed decisions, the result can be a disaster. Haste isn’t the only culprit, however. Even when adequate time is available, decisions can be made that lead to big problems for the firm later on.

 

Below is a list of three major mistakes that Oklahoma CPAs make when it comes to hiring, and the best ways to avoid them.

Mistake #1: Starting the hiring process before determining what the company needs

Like other fields, CPAs have their specialists. Instead of doing general wide-spectrum financial tasks, more and more accounting professionals are opting to specialize in certain areas.

  • Financial: producing information in the form of financial statements for external use
  • Forensic: investigative accounting and auditing for litigation or legal dispute purposes
  • Management: compiling information mainly for internal use by the company's management
  • Tax: accounting for tax-related matters and issues
  • Project: tracking a project’s financial progress through regular financial reports

The hiring managers for some Oklahoma CPA firms are not always clear on what the company needs. Is the department that processes sales invoices and accounts payable looking to grow its team? Or is more help needed among the group that does taxes and payroll? Once the firm’s requirements are established and clear, the chances of hiring the wrong candidate are reduced.

Mistake #2: Hiring the wrong personality for the job

Accounting is not a simple matter of crunching numbers. CPAs also need to work closely with clients and other firm employees to exchange information and keep financial records current.

If a new hire looks great on paper but is not a team player or good communicator, it ultimately doesn’t matter where they got their diploma. Miscommunication can have a serious impact on a firm’s efficiency and morale, so hiring managers should query references about that aspect of a candidate’s abilities.

Mistake #3: Hiring a CPA who is not tech-savvy

Most Oklahoma CPA firms today are using software and mobile technologies to make the process of managing client finances easier and more accessible. When a new hire is unable or unwilling to utilize the latest technological resources, they put themselves at risk of making mistakes that could cost the firm later on.

During the interview process, hiring managers can ask candidates about their preferred accounting support software and apps, and fast-track those who give encouraging answers.

Bottom Line

Good hires are not always easy to come by, but they’re not impossible either. When Oklahoma CPAs task their hiring managers with finding employees that will add value to the firm, a well-strategized search and interview process is important.

Asking the right questions and understanding what the firm truly needs in a new employee will reduce the risk of bad hires compromising its integrity later on.

 

Has your CPA firm ever experienced problems because of bad hiring decisions? If so, how was the problem resolved? Let us know your thoughts in the Comments box below.

 

And to follow up on the tips introduced in this article, be sure to download your free Information Technology Guide for Oklahoma City CPAs.

 

 

 


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