At Integritas, our team of Mike Neidbalski, Pete Owsianowski, Erika Staszewski, and Ben Banik are all big readers!
We love our daily newsfeeds and try to keep up each day with current events and hiring trends. We thought we would share a few really interesting, summarized nuggets of good business information that have recently caught our eye:
Remote or Hybrid?
Companies with remote or hybrid policies appear to be hiring people at about twice the rate of employers that are fully in office, according to a new analysis. “When we looked at headcount increase over the last 12 months, fully flexible and ‘structured hybrid’ [employers] were outperforming fully in office companies at least in terms of a percentage of headcount,” says Robert Sadow, cofounder and CEO of Scoop, a hybrid work management software company behind the report.
The findings remained consistent even when tech firms, known for their remote work options, were removed from the sample. Non-tech companies that offered fully flexible or hybrid work setups still outpaced full-time in-office firms in terms of hiring by at least 0.5%, regardless of company size.
While adding headcount is not a perfect indicator of overall company performance, the data suggests that companies with more flexible work policies seem to be faring better in terms of hiring during these times.
From CFO Brew: CFOs Using Artificial Intelligence to Automate Manual Accounting Tasks
CFOs are excited about AI because it promises to eliminate menial tasks and mindless data entry. The first area where AI is being applied in finance is manual accounting tasks, which are error-prone and repetitive. However, some experts argue that manual accounting still has critical benefits for small businesses, such as error correction and affordability.
The discussion around menial tasks in finance should shift towards using AI to make data entry-heavy job positions more rewarding, rather than just eliminating manual functions. Job satisfaction is a crucial consideration, especially in the context of a wider skills shortage in finance. CFOs need to prioritize workers’ satisfaction while implementing AI to maintain their professional identity and find joy and meaning in their work.
Finding skilled talent in finance is challenging, with a significant number of finance and accounting managers reporting difficulties in recruiting skilled professionals. As AI becomes more prevalent, finance leaders should involve those close to the work, who can better determine how new technology can improve the company’s workflow.
CFOs need to be knowledgeable about the technology landscape and understand the potential impact of AI. They should encourage upskilling within their finance departments to bring added value through AI implementation. However, some CFOs acknowledge that adopting AI is a significant management of change that disrupts the rigid and structured environment that finance professionals are accustomed to. Despite the challenges, embracing AI’s potential can lead to more efficient and rewarding finance workflows.
Check this out! How to use ChatGPT to write Excel Macros! https://www.journalofaccountancy.com/news/2023/jul/writing-advanced-excel-macros-with-chatgpt-4.html
Seriously Interesting Factoid: 99.9% of all businesses in the US are small businesses!
As of 2022, the United States has roughly 33.2 million small businesses, which translates to 99.9% of all businesses in the U.S. Of the more than 33 million small businesses in the U.S., approximately 27 million don’t have any employees.
The Number of Workers in the U.S:
According to Statista, there are approximately 132 million full-time employees in the U.S. as of March 2023. This represents a slight increase compared to February of the same year.
Despite having a large and steadily growing workforce, the U.S. manufacturing space has yet to find the talent needed to fill critical vacancies. According to the National Association of Manufacturers, 2.1 million manufacturing vacancies could be unfilled by 2030. These vacancies could lead to over $1 trillion in losses.
Here are some Hot Candidates for you:
EXPERIENCED CONTROLLER / CFO WITH INTERNATIONAL EXPERIENCE! This locally based candidate, with international roots and early career, is beginning a search due to a company sale. Recently completed the Notre Dame MBA program, this candidate is very strategic yet has demonstrated willingness to also tackle very hands-on responsibilities, and excellent communication skills are very evident upon meeting! Significant manufacturing experience with more recent work in the real estate space all make for a very well-rounded executive!
YOUNG PROFESSIONAL TALENT! With only 10 years of experience following college, this bright and very accomplished candidate has a unique blend of business development, human resources (including significant recruiting expertise!), and community engagement. Exposure to many industries and corporate cultures has helped to shape this quick learner, engaging, professional, and overall sharp candidate!
OPERATIONALLY FOCUSED EXECUTIVE! A CPA and MBA professional and long-time friend of Integritas has held roles in manufacturing at corporate and plant/division levels, including CFO, General Manager, and COO! Seeking a new opportunity due to some unexpected changes in current role. An extremely bright, creative, and well-liked team member who is hands-on in tackling issues common to manufacturers of all sizes and numerous industries, ready to explore a new role!
GLOBAL INDUSTRIAL SALES AND MARKETING VIRTUOSO! – With a BBA in Marketing from the University of Notre Dame and an MBA from the University of Chicago, this pro can take your business to new heights. Proven track record of solid achievements, this executive has consistently delivered unparalleled sales growth and financial results in both domestic and international markets. Strategic prowess, coupled with an uncanny ability to create efficient processes, has revolutionized businesses, increasing productivity, slashing costs, and driving profitability.
EXCEPTIONAL EXECUTIVE – Possesses a skill set that can transform your organization. This business and people-savvy dynamo has mastered MS PowerPoint and social media strategy, along with solid analytical skills. Imagine how great leadership, account management, business development, marketing, market analysis, voice of the customer, customer relations, and customer experience skills can alter your business landscape and propel your brand to unprecedented heights. IU Kelly School of Business Finance degree and Indiana State University Banking, Corporate, Finance, and Securities LawBanking, Corporate, Finance, and Securities Law Associates
HUMAN RESOURCE MANAGER – Successful multi-location company just got acquired. Over 20 years of medical, large company manufacturing and retail make this candidate a must-see in today’s tight executive market! Excellent employee relations skills that cross over to the C-Suite. Deep knowledge of payroll administration, compensation/benefits, conflict resolution, employee learning/development, and employee relations.
SR. STAFF ACCOUNTANT – Skilled in GAP accounting, AP/AR, and finance with some costing experience. Looking for a level up on your next assignment, this executive could help round out your accounting team or take a leadership role!
TOP TALENT HR EXECUTIVE! – A VP or Director level HR professional, this Orlando, Florida-based candidate is in a search due to a company sale. With roots in Michiana, this military vet, MBA, SPHR certified, bi-lingual rock star is willing to travel and work in a hybrid role for a Michiana-based employer. 19 years of HR experience following military service has included significant work in employee relations, strategic planning, acquisitions and consolidations of HR systems and policies, recruiting, benefits, and compliance. Very comfortable in manufacturing. Exceptionally positive personality!
RECENT COLLEGE GRADUATE – Bachelor of Science in Business, Double Major in Marketing and Advertising. Looking for an office team that needs bench strength! Michiana-based and ready to work!
HR AND ACCOUNTING SUPPORT PROFESSIONAL AVAILABLE FOR TEMP! Actively looking due to a company sale, this candidate comes highly recommended by past owner, HR Director, and CFO! While very reliable in fulfilling hands-on accounting responsibilities, willingness to stretch into HR work has become a passion, especially when it comes to recruiting, onboarding, and employee relations!