Gearing Up For 2024
Tricia Scalzo
Trusted Executive Recruiter - Accounting & Finance. Finding talent to help companies effectively manage revenue and expenses to impact the bottom line.
The last month of the calendar year is usually a mix of reflection over the past year and anticipation for the year ahead.? Here are action items you can take now for your accounting and finance team:
?Your Assessment
2023:? This is the perfect time to pause and review your role.? It’s important to step back and determine if you are still engaged with your role and the company.? Are you getting the autonomy you crave?? Do you work on projects that utilize your skill set thoroughly?? Is the company heading in the direction that aligns with your perspective?? Do you have a strong working relationship with your manager?
?2024: ?After assessing your current role/company, what do you need to do in 2024?? Do you stay in your role and focus?? Do you begin a passive job search?? Or do you get engaged in actively seeking a new role?
?Team Assessment
2023:? Once you have determined your personal career situation, the next step would be to review your team.? It is beneficial to step back and review the business goals and organization chart for your team.? Do you have the right individuals in place?? For employees that are excelling, do you have a plan in place to keep them engaged?? For the employees with challenges, have you set up a plan to get them back on track?? Are there areas your team needs training on?? Do you have teambuilding and employee engagement as a focus area?
?2024:? Now that you know where your team stands, what actions do you need to take in the upcoming year?? Do you need to add additional people to your team?? Do you need to replace someone?? Or are you contemplating layoffs? It’s important to act on team issues and add support where people are overworked.
?Process Assessment
2023:? At this point, you have reviewed the people and now it’s time to review the processes in your department.? It’s critical to step back and look at the areas you are responsible for and determine if any processes need to be updated to meet compliance, efficiency, or transparency.? Accounting and finance regulatory compliance and industry regulatory compliance are the key areas to address.
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?2024:?
To work through process adjustments, you may want to set up a team to review and provide recommendations on a particular process.? In addition, reviewing the intercompany involvement in the process area is key.? It may be helpful to involve other departments to reset any internal processes that will be a benefit for everyone involved.
?Tool Assessment
2023:? With the ever-changing workforce, it’s important to assess the tools you are using for communication, shared documents, ERP, and supporting technology items.? In this past year, what technology “work arounds” have you had to do to get something accomplished?? Has your team been trained in new technologies?? What technologies would be helpful if you are in a hybrid or remote schedule?? Does your ERP supplier have additional training included?
?2024: ?During the year, you can work with your ERP provider for supplemental training for your team.? ??You may also determine the best technology to communicate with people that may be in office, hybrid, or remote.? Also, technology tools that accommodate a team to work on documents simultaneously provide more efficiency.?
?Miscellaneous Assessment
2023:? Are there any areas that you feel need assessing to improve meeting business objectives?? Did you obtain any constructive feedback from your manager or employees that can be addressed during this assessment?
?2024:? You can start the year, adding, deleting, or keeping certain items the same.? The key to a fresh start to the year is evaluating all the areas: you, your team, department processes, technology, and miscellaneous to be more effective and connected.