Insights: Management

As a partner, audit manager, or staff accountant in a large accounting firm doing external audits for large public and private companies, you may be wondering how to hold your client accountable for the components of the audit for which the client is responsible.

A recent survey found ISO 9001-certified organizations are 7% more profitable than those that are uncertified. 
85% of ISO certified organizations reported increased brand perception, increased demand for products and services, and higher market share.

The June jobs report is out, and it shows that U.S. employers increased the pace of hiring, a sign of continued labor market growth.
U.S. companies didn’t need to see the statistics to know that, in today’s labor market, they must work harder than ever to retain their workers.
And since millennials will make up more than 75% of the workforce by 2030, finding a way to retain that generation of employees is a major concern.
So why write an article about giving your millennial employees negative feedback? Because believe it or not, they want it!

The annual performance review is an excruciating ritual that has been around for a really long time, but, in 2017, it’s just not cool anymore.
It is a 20th century model that just doesn’t work for the 21st century.  Managers see them as time consuming and not always reflecting employees’ real contributions. Employees, especially millennials, can find them demeaning and unfair.
But how can we provide the feedback that is essential to an employee’s growth without a review?   And how can management gather and organize information on employee performance to use in human resources decisions?