The United States recovery is well underway and economic growth in the Dallas Metropolitan area has been picking up. As economic growth continues, hiring managers will find themselves under increasing pressure to both find top-notch candidates and to retain their own staff.

Texas’s Economy is Strengthening
The Dallas metropolitan economy has reported moderate growth in the previous 6 weeks, while nationally hiring has picked up. This could lead to increasingly tight labor markets as the national economy continues to recover and more applicants are absorbed amid increased corporate hiring. Given that Dallas’s unemployment rate is currently at only 6.4 percent, local hiring managers should plan carefully for an increasingly tight labor pool.

Texan firms will face some of the toughest hiring conditions. As a whole, Texas has already replaced all of the jobs lost during the 2009 Financial crisis, even though the rest of the nation has replaced only 52% of the jobs lost. Texas has also regularly been posting higher growth rates than the United States national average. Combine, these factors suggest that good economic times lie ahead for the Lone Star State but hiring managers will find it more difficult to find high quality applicants.

The labor market in Dallas is holding steady at the moment, though many legal firms are increasing their hiring and staffing firms are finding it hard to find talented workers. Lawyers with skills in intellectual property and commercial law are in particularly high demand. This may suggest that companies are gearing up to expand their businesses and are hiring the necessary legal staff to do so.

While it’s too early to bust out the champaign, there are numerous reasons for companies in the Dallas metropolitan area to be optimistic about the future. The national economy is on solid footing while global conditions, such as the ongoing debt crisis in Europe, are stabilizing. Meanwhile, Texas has become a particular bright spot within the United States and will likely remain so in the years ahead.

Tough Hiring Market Ahead
So what does this mean for businesses? Well, if you have been thinking about adding staff or filling a position now is the right time. The longer you wait the tighter the labor market will grow. This will leave you trying to fill positions with lesser talent for higher prices.

Securing talent now will have your company well positioned when the economy posts a full recovery. Not only will you secure the best talent you will also have enough time to train and integrate new workers. This will ensure that your business is at full working capacity once business starts coming in.

Also, it might be time to review your employee policies and make sure your key staff members are happy. While pressures on wages have remained minimal, some HR departments are starting to feel the pinch in regards to employee compensation. By keeping employees happy and in-tune with company policies HR departments will avoid losing staff to other firms as hiring continues to pick up.

While the national unemployment rate remains high at 7.7 percent, the unemployment rate among accountants is only 4.2%. With such a tight labor market many human resource managers are finding it difficult to fill accounting and finance vacancies.

Competing for local college graduates with accounting degrees can be tough, especially if you are not one of the Big 4 accounting firms. It can be done, however, with some clever planning and effort. Having clever recruiting and staffing practices is essential for small companies who cannot engage in national searches and cannot afford to pay top dollar for recruits.

Build A Great Internship Program
Internships are a great way to meet students while they are still in college and if you make a good impression there is a great chance that you can lock up high-performers with a job offer while they are still in school. In order for your internship program to be effective, however, there are several important steps you must take.

First, in order to attract the best students offer at least some financial compensation, even if it is simply a small stipend. Any monetary award will be appreciated. Second, make sure interns are actually given attention and training. Half the time interns are stuck doing menial tasks, which doesn’t help them learn and doesn’t improve your company’s image. Third, if you find an intern you want to offer a full time position to, make sure you convey the message well. Tell the intern that you appreciated his or her input and could see him or her fitting in well with the culture of the firm. Emphasize that this is a career position and there will be opportunities for promotion and growth in the future.

Another great option for filling accounting positions is to see if any non-accountants on your staff who are good with numbers would be interested in making a career change and returning to school to get an accounting degree. Replacing general staff members, such as administrative assistants, is usually easier than finding an accountant. Further, some of your staff members may be looking to change their careers or move up the ladder by furthering their education. In order to create added incentive you could offer to pay or match contributions to their tuition.

Accountants Will Be in Demand
With the Bureau of Labor statistics projecting a 15.7 percent growth in accounting jobs through 2020 labor conditions are likely to remain tight. Even if and when the economy goes into recession many firms are hesitant to lay off their accounting staff. For one, such staff are essential to operations no matter the economic conditions. Second, many HR departments rightly fear they will have trouble refilling accounting positions with quality staff once the economy does rebound. This means that the applicant pool for accountants will likely remain tight in the years to come. As long as you remain dedicated and open to trying different recruiting methods, however, you will find the talent you need.

Starting with the March 21st meeting, the Dallas Fort Worth Area Chapter is pleased to offer live simulcasts of our meetings, subject to speaker approval. When members cannot attend the physical meeting, they will have the opportunity to watch the presentation in streaming video and earn CPE. Initially, during the startup phase, there will be no charge for members who participate; however, longer term there will be a charge (amount is yet to be determined). The presentations will not be recorded; consequently, they will only be available during the live simulcast.

Participants will be required to register in advance (by March 15th for this month’s meeting). Those who do will receive the link and instructions for joining the meeting. CPE will be available for those who participate for
the required amount of time and confirm their participation at various points in the presentation. More details will be available on the website and in the meeting notices.

Please be aware that bandwidth and security limitations of your internet connection may prevent you from participating and earning CPE. Please let us know if and when that happens.

The topics for the March 21st meeting are:

• 5:30 – 6:20 PM Professional Development Session – “Supply Chain Management in the Modern Oil Patch” by Stacy Palmatary (Vice President of Supply Chain, Occidental Oil & Gas Corp.)
• 7:20 – 8:10 PM Technical Session – “The CFO as an Operational Partner” by Jeff Richard (Executive Vice President and CFO)

For more information or the register, go to www.dallasima.com

People are effected by their physical surroundings. That is why many cutting edge companies like Google and Apple maintain expansive campuses with facilities that rival the best private clubs and gyms. Maintaining a comfortable and inviting work space is now essential for increasing productivity and retaining talent. While upgrading offices will require a financial investment the bottom line could improve and you will be more likely to retain your best employees.

Not every company is in the position to build an elaborate campus but that doesn’t mean that a manager can’t improve the office space through less expensive and extensive means. For example, studies have suggested that employees work better in natural light than under artificial light. Selecting an office with a lot of windows and natural lighting can also increase productivity and create a more welcoming work environment. Switching your light bulbs to softer bulbs can also increase productivity and make employees happier.

Another cheap and effective option is to place live plants and fauna around the office. A few plants can help take the edge off an office space and make the whole environment feel warmer and more natural. Plants can also spice up the office and mask the often drab and simple decorations. Plants will require some maintenance, of course, but the results will be well worth the extra effort.

If you have the room you can also create an employee R&R space with some bean bags, or a couple of comfortable couches. This gives employees a space they can retreat to when they are feeling stressed or overwhelmed with work. This space will allow employees to relax and “escape” for a few minutes. Relaxed and comfortable employees almost always work more productively than stressed and tired workers.

Ergonomic chairs, desks, and keyboards are also a great and simple way to increase comfort levels. If employees have to sit in uncomfortable chairs or work with uncomfortable equipment it increases the likelihood of increased water and bathroom breaks. Employees will practically be compelled to get up and stretch their legs and rest their hands. Comfortable employees, on the other hand, will be able to work for longer periods of time without taking a break.

There are many options for improving your office space so you should take a few minutes to do some research and think about what will work best in your office. If you have the time, why not check out Google and other companies’ work environments? Most companies with such advanced work spaces are quick to show off their office spaces so research can be quiet easy and inspiring. You can also talk with HR and office space specialists to figure out what the best options are for your company. At the end of the day the most important thing is maintaining happy and productive work environments, so your efforts will be well rewarded.

Retaining your employees is essential for ensuring stability and protecting the bottom line. For one, every time an employee leaves you lose valuable skills. Further, training new employees takes time and can cause disruptions in work flows. As such, it is essential to keep your staff happy and committed to your company.

Despite what you might think money is not the only factor for keeping employees committed to your company. Yes, financial considerations will always be important for your employees and no amount of non-monetary rewards will keep employees committed if they are unable to enjoy financial security. Still, once employees are financially secure non-monetary benefits can be very effective in increasing employee retention.

Vacation time is one of the most well known non-monetary incentives. Of course, vacation time does cost the company money but the employee him or herself does not see increased annual earnings. Vacation time allows employees to pursue their own desires or to get much needed R&R. Doing unique things, like giving employees their birthdays off or celebrating the occasional random holiday, such as Chinese New Year, with a day off can also make work more fun.

Another more radical option is to shorten the work week by a few hours. While managers may fear that this will result in decreased productivity, studies have suggested that small reductions in working hours can actually increase productivity. Most employees simply don’t work at 100% through all 40 hours of the average work week. A lot of time ends up spent playing around on the Internet or standing around the water cooler.

When managed with the right expectations and clear communication a shortened work week will cut down on “wasted” time while increasing “productive” time. Employees need to know that work loads must still stay the same but that they can enjoy a shorter work day if they get all of their work done on time. This can result in energetic and hard working employees. When managed properly many employees can be just as productive working 35 hours a week as they are when working 40 hours per week.

Another great option is flex-time. Flex time allows employees some say over which hours they work. For example, instead of working from 9 to 5 an employee might instead choose to work from 10 to 6. This allows employees to adjust their working hours to better suit their own personal needs. For example, a person might need to drop his or her child off at school at 9 AM or another person might simply not be a morning person. While letting an employee “sleep in” may sound like bad business practice, a well-rested employee is likely be more productive.

Figuring out which policies will work best requires time and effort. One of the best ways to figure out what will increase productivity and make employees happier is to actually ask them. This creates a more collaborative atmosphere and employees feel more respected when they are allowed to provide input. Either way, in an increasingly competitive global landscape a productive and happy workforce is quickly becoming essential and non-monetary benefits are quickly becoming essential.

IMA members: register now. The forum is complimentary, but space is limited.

In today’s business world, heightened uncertainly and risk are normal. Volatility in such areas as consumer demand, commodity prices, and exchange rates makes it difficult to pinpoint how to drive profitable growth. To stay competitive, finance organizations must adapt by weaving new analytics tools and disciplines into the fabric of their business. That’s why your attendance at IBM Finance Forum 2013 is so important.

Register today.

Complimentary VIP dinner events will focus on helping finance organizations use analytics to anticipate outcomes, adapt to risk, and enable effective decision making. During the presentations, you’ll hear directly from industry experts and learn about best practices in business analytics as well as the latest IBM solutions, helping you improve visibility, insight, and control over performance, governance, and risk.

Attend—at no charge—and you can learn effective strategies to help you:

• Performance reporting, analysis, and scorecarding
• Narrative reporting and disclosure management
• Incentive compensation management
• Risk management
• Planning, budgeting, and forecasting
• Finance Forum is complimentary, but space is limited so register today.

Retaining talent is one of the most important things any manager can do. Finding the right workers who fit your company and its culture can be a difficult and time consuming task. Not to mention training new employees and setting up benefit plans, such as 401Ks, can eat up time and resources. For these reasons and more it is important to retain your talent.

One of the most important things a manager can do is take to care of their employees and this goes far beyond just pay. Taking care of your employees means developing holistic policies that can increase their emotional, physical, and yes, financial well-being. By developing such policies you will retain your best staff and ensure a productive work environment.

A good place to start is to figure out what your employees want or would enjoy and what drives them. Employees could be provided with a feedback system through which they can both put forward ideas and also lodge complaints when the need arises. Making sure that your company has a human resource manager or other staff member who is both open to listening to complaints and willing to maintain strict confidentiality is also an important step.

Further you should train your managers to listen to ideas from their staff and to provide positive reenforcement for people who are willing to put their ideas forward. This will help you build a highly innovative and meritocratic working environment that can boost productivity and output. The most successful companies are often those companies that remain dynamic and are constantly adapting to changing conditions and opportunities so you should try to install such innovation in your own workforce.

Another great option for increasing employee retention rates is setting up flexible working hours. While not every office and work environment can support flexible working hours, a surprising number of them can. Would it really hurt your work capacity if an employee elects to come in an hour later, in exchange for leaving an hour later? Perhaps not, and it could greatly assist your employee who might have to drop off a child at school. Flexible working hours can both increase employee satisfaction and also create a more productive working environment.

As the suggestions above point out, taking care of your employees isn’t just about money. There are numerous other policies that can make your employees happy and more productive. Other little things, like giving employees their birthday off, can also increase satisfaction and retention rates. You and your employees should explore the options and figure out what will work best for your company. Numerous studies have proven that happy employees are both more productive and likely to stick with their company, so the efforts will definitely be worth it.

2012 has come and gone and now 2013 has arrived. Many people have made New Year’s resolutions and it’s a safe bet that many of these resolutions involve finding a new job. Across the world millions of people are still unemployed or working part-time while looking for a full-time job. Others are simply unhappy with their career and are looking for a fresh start. While finding a new job in a stagnant economy can be a tough task there are numerous steps you can take to improve your likelihood of success.

The first step is remaining upbeat and dedicated to your job hunt. When there’s a high unemployment rate most open positions will receive many, many resumes. You will most likely have to apply to dozens of jobs before you find the right fit but the harder and longer you search the more likely you will be successful.

You also have to find ways to distinguish yourself. What makes you unique? What interesting and hard-to-find qualifications do you possess? If you don’t possess any such qualifications now, how can you develop them? Perhaps there are volunteer opportunities related to your career field? For example, if you are an accountant you could volunteer with local Accounting or Finance Chapters such as The Institute of Management Accountants or Financial Executives International. Volunteering on a board will help you build your resume while also allowing you to contribute to the community.

Further, it is essential to build a high-quality resume. With a resume you usually get less than a minute to make an impression, so exactly what information do you want to convey? Your resume should highlight your qualifications while not being overly verbose. You should also use bullet points and other methods to present information in a clear and concise manner.

Also, make sure you take the time to write a customized cover letter for each position you are applying for. This cover letter should demonstrate that you are familiar with the company and also why you’d be the right fit.

You may need to search far and wide for your next job. Is it possible for you to move to another city or region with a stronger economy? While some areas are struggling, many others are booming. Consider North Dakota in the United States, which is undergoing an oil boom. While many parts of the U.S.A. are struggling, North Dakota is facing a serious labor shortage in a variety of areas, including administration and other jobs that do not require highly specialized education. An applicant will have a much better chance of finding a job in North Dakota than in struggling Detroit, Michigan. Fortunately Texas continues to lead strong employment for the country similar to North Dakota and most days it is warmer in Texas.

Remaining flexible on your feet and dedicated to your hunt are both essential for finding the right job. While the times are tough there are still plenty of open positions out there, so with dedication and perseverance you can land the right position. Your job hunt may require a lot of time and effort but for most it will turn out to be well worth it in the end.

Did you know that you could be a Certified Management Accountant in just one year?
Yes, with the GLEIM Professor-Led CMA Review Course (CMAPrepCourse), you can well on your way to earning an average salary that’s $22,000 higher in compensation over non-certified professionals before 2014!* Don’t let your desire to build Rare and Valuable Skills like a CMA certification sit on the backburner any longer – call us to enroll TODAY!

This program is live AND web-based and led by experienced, CMA-designated instructors who have helped many students like you to earn the CMA designation. The coursework was specially designed to fit in a busy professional’s schedule and includes numerous tools to assist in the learning process.

· Live Online Access Via Streaming Video with Instant Chat Interaction

· Personal Attention [Professor-led]

· High Success Rate

· Proven Track Record

· Topics are Thoroughly Covered

· Small Class Sizes

· Convenient Times & Location

The Professor-Led CMA Review Course is a comprehensive, customized learning experience to assist candidates prepare for the Certified Management Accountant (CMA) Exam. It combines the Gleim CMA Review System, LIVE professor-led weekly classes, online interaction, and personal counseling to prepare candidates for success on the CMA exam.

The professor-led review course is delivered in two convenient 8-week sessions, mirroring the two parts of the CMA exam.

For more information, contact Ronald Schmidt at 469-682-0452 or via email, rschmidt@strategiccfosolutions.com

*IMA annual salary survey, 2011.