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The accounting department of an organization is vital to the survival of the entire organization. Business leaders understand the importance of empowering their accounting staff by equipping them with everything they need to run their respective departments.
More companies are spending money to get their employees the professional skills that they need to be effective, and accounting departments are usually among the primary beneficiaries. Before you spend money on the professional development of your finance department, you need to think about strategic courses that will genuinely improve the skills and output of your people.
Have Employees Rotate Jobs
While there are different functions in the finance department and everyone specializes in one of them, it is best to have the staff move from one department to another occasionally. When this becomes a habit, the company gets to a point where everyone in the accounting department has enough experience to carry out all functions of the team. The rotation gives each team member solid skills, which eliminates the possibility of individuals making errors in their jobs.
Assign Cross-Departmental Teams
This approach is made possible by creating project task forces that encompass two or more departments within the business. As the employees carry out these projects, they will learn cross-department collaboration. They will also pick up a few skills that could simplify their accounting work.
You can maximize the strengths of your workforce by asking the people in senior management positions to play a mentorship role to the junior or entry-level employees. The great thing about mentorship is that it can work both ways. The older generation will be teaching the fresh graduates about ways of working, and the young generation will teach the older generation about emergent issues and how to handle millennial clients.
Give Employees Time for Personal Development
Many employees are very willing to improve their skills and knowledge in accounting, provided that they get time and money to pursue their goals. As a manager, it’s helpful to keep a planner and set aside time for employees to attend classes, seminars, and workshops on personal development.
Hire External Support When Needed
Another strategy to consider is hiring professionals when needed. Get professional auditors, CPAs, and other staff to step in when your employees are completing exams or getting certification.
All of these strategies can help you do great in-house training for your staff and improve their skills and efficiency in finance.
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