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05Nov

Recruiting for Success: How Diwali Inspires the Perfect Hire

SangnaConsultation, Entrepreneurs, JOBS, Recruitment

Diwali, the Festival of Lights, is celebrated with great fervour and joy across India and the world. But beyond the sparkling diyas (lamps) and sweet treats, Diwali marks a time of renewal, positivity, and new beginnings. It’s a season of cleaning, decorating, and preparing—whether for the arrival of guests or the promise of new opportunities. It’s also the perfect moment to reflect on how the journey of hiring the right candidate mirrors the excitement and energy of this vibrant festival.

1. Dhanteras: Preparing for the Right Investment
Just like how Dhanteras is considered the day to invest in new things—whether gold, utensils, or a fresh wardrobe—the recruitment process is about making an investment in talent. During Dhanteras, we carefully select the right elements to bring good luck and prosperity. Similarly, hiring managers carefully choose candidates who will bring new value to the organization, contributing to its success and growth. Think of hiring as your company’s “investment moment,” where every decision made is an important step toward the bigger, brighter future.

2. Kali Chaudas: Protecting Against Hiring Mistakes
Kali Chaudas, often seen as a day to ward off negativity and obstacles, parallels the efforts of recruiters to avoid hiring mishaps. In recruitment, we go through rigorous screening processes, reference checks, and multiple rounds of interviews to ensure we are choosing candidates who are not only skilled but also culturally aligned with the company. It’s like Kali Chaudas for your hiring process—clearing the path of any negative influences and ensuring the right people are brought into the fold.

3. Diwali: The Search for the Perfect Candidate
When Diwali arrives, it’s a time of lighting up the night with diyas, symbolizing the triumph of good over evil. Similarly, the search for the right candidate illuminates a company’s future with fresh perspectives, new energy, and exciting potential. Hiring is like lighting those diyas—each one representing a new team member who brings light, clarity, and innovation to the workplace. Much like the festival itself, the right hire is a cause for celebration.

4. New Year: New Beginnings, New Teams
For many, Diwali marks the start of a new year. A time for fresh starts, new resolutions, and the promise of growth. The same applies to the recruitment cycle. With a new year comes new projects, challenges, and goals—and this is where your new hires come in. As companies plan for the future, the recruitment process becomes a means of bringing in fresh talent to help realize those visions. It’s a moment to build teams that are not just skilled, but eager to grow, innovate, and contribute to the company’s future.

5. Bhai Dooj: Building Stronger Relationships
Finally, Bhai Dooj is a festival that celebrates the bond between siblings, a day when relationships are strengthened. Recruitment is not just about filling a vacancy; it’s about building long-term relationships—between the organization and its new hires. Like siblings supporting each other, the company and its employees thrive when they work together toward shared goals. The hiring process is just the beginning of this relationship, and the key to success lies in the nurturing of these connections, through onboarding, growth opportunities, and a culture of mutual respect.

Conclusion
As Diwali’s festivities remind us of the importance of renewal, protection, growth, and relationships, so too should the recruitment process. Like the festival itself, recruiting for the right talent is a celebration—one that brings together the best of what’s new and bright for a prosperous future. So this Diwali, as you light your diyas, remember: finding the perfect candidate might just be the next step toward lighting up your team’s success.

Happy New Vikram Samvant 2081 and Happy Recruiting!

21Sep

Strategies for Attracting Passive Candidates: Or How to Lure Unicorns Without Scaring Them Away

SangnaUncategorized

So, you’re on the hunt for top talent but find yourself fishing in the shallow end of the candidate pool? Fear not, dear recruiter! Attracting passive candidates—those elusive unicorns who are not actively job-hunting but still exist in the magical realm of potential—requires a touch of finesse, a sprinkle of charm, and, sometimes, a dash of wizardry.

1. Craft an Enchanting Employer Brand

Imagine your company as the Hogwarts of the business world. If you want those passive candidates to magically appear in your inbox, your employer brand needs to be as irresistible as a butterbeer to a hungry student. Showcase your company’s unique culture, mission, and values with the kind of flair that makes candidates think, “Wow, I’d love to work there… if only they had a dragon-keeping position!”

2. Master the Art of Subtle Flattery

Passive candidates are like cats—they’re not going to come to you unless they feel like it. So, make your outreach so flattering that they can’t resist. Comment on their recent accomplishments like you’re their biggest fan. “I noticed your recent keynote on quantum computing. Fascinating stuff! Ever thought about applying your brilliance to our cutting-edge projects?” It’s like catnip for professionals.

3. Develop a Stellar Online Presence

If your company’s LinkedIn page is as exciting as watching paint dry, passive candidates might just scroll past you faster than a cat chasing a laser pointer. Invest in creating engaging content—success stories, employee testimonials, behind-the-scenes glimpses. Think of it as setting up a really cool party and making sure everyone knows it’s the place to be.

4. Network Like a Social Butterfly on Espresso

Sometimes, attracting passive candidates means being everywhere all the time. Attend industry events, webinars, and networking functions. Make connections like you’re auditioning for the role of a friendly socialite. And don’t just attend—engage. Share insights, offer advice, and be the person everyone wants to chat with. Your goal is to be memorable, like that one friend who always brings the best snacks to parties.

5. Build a Talent Community

Create a talent community where passive candidates can hang out, even if they’re not looking to move right now. Offer valuable content, exclusive webinars, or networking opportunities. It’s like hosting a party where everyone’s invited, but there’s no pressure to RSVP. Over time, when they are ready to make a move, you’ll be the first person they think of—kind of like being the cool, reliable friend who’s always up for an adventure.

6. Use Data to Show Off Your Smarts

If you can’t impress passive candidates with your dazzling personality, do it with your data prowess. Share insightful industry trends, employment market analytics, or unique company metrics. It’s like showing off your impressive collection of rare stamps, but for professionals. Make them see that you’re not just offering a job; you’re offering a front-row seat to the future of their industry.

7. Personalize Your Approach

Forget the generic “Dear [First Name],” emails. Those are about as exciting as a beige wall. Craft personalized messages that make passive candidates feel like they’re the star of a blockbuster film. Refer to their specific skills, achievements, or interests. If you can, make it witty. After all, who wouldn’t want to join a company that seems to understand their quirks and values their talents like a prized collection of rare comic books?

8. Offer Flexibility and Perks

In today’s world, work-life balance is as sought after as the Holy Grail. If you can offer flexible hours, remote work options, or unique perks, make sure to shout it from the rooftops. Passive candidates often have the luxury of being choosy, so let them know that your company is not just another job—it’s the kind of place where they can thrive while still having time to binge-watch their favourite series or take that midday nap.

So, there you have it: a foolproof guide to attracting passive candidates that’s as entertaining as it is effective. Now go forth and make those unicorns come prancing into your talent pool.

Happy recruiting! 🦄

08Aug

Is Digital Revolution the Answer to Making Your Finance Job Less ‘Account’-able?

SangnaUncategorized

Ah, accounting and finance, the lovely realm of excel spreadsheets, never-ending invoices, and the never-ending bookkeeping challenge. You’re in luck if you’ve ever felt like your work could use a little more excitement! Let me introduce you to the digital revolution, a disruptive force (Xero, Zoho Books, Sage Intacct, etc) that is reshaping the field of numbers with the style of a sugar-rush accountant. Fast-forward to how technology is transforming the somber world of banking into a virtual celebration.

First off, automation has replaced those tedious jobs that used to make you second-guess your life decisions. It arrived on the scene like an overbearing intern. Imagine a world without the monotony of manual labor, where software handles data entry and invoice processing. It’s similar to having an office gossip-phobic robot as a sidekick who excels in math. Your daily grind becomes a more strategic game plan with automation, freeing you up to enjoy the benefits of higher-value employment.

Then there is correctness. Gone are the days when you worried if you entered the data correctly. With the help of sophisticated analytics and real-time updates, your financial data is as current as your morning cup of coffee. No more chasing anomalies or arguing over outdated spreadsheets. With the accuracy with which technology forecasts trends, even a Swiss watch would blush, it’s like having a real working crystal ball.

Not to be overlooked, however, is data security, which in the digital age is like having a vault that would be impossible for even the most determined burglar to break into. As your private bodyguard, encryption makes sure that your private data is safely stored away. You can also feel secure in the knowledge that your money is protected from the virtual equivalent of a raccoon with sticky fingers thanks to fraud detection algorithms that are as keen as a hawk’s vision.

Another game-changer is cloud computing, which gives you the virtual equivalent of an office in the sky. The days of carrying file cabinets and sorting through piles of paper are long gone. Your documents are now available from any location with an internet connection, floating about in the cloud. It’s like magic, only it works and you can put an end to that never-ending pile of paper. You can work from anywhere with Wi-Fi, including the beach, the mountains, and even your couch.

Artificial intelligence is comparable to having a really intelligent intern that never sleeps and almost always does things properly. With predictive analytics that predict future trends with the accuracy of a well-tuned crystal ball, artificial intelligence (AI) and machine learning are revolutionizing the banking industry. Routine inquiries and duties are handled by chatbots, freeing you up to concentrate on the more difficult parts of your work. Financial forecasting becomes more of a strategic advantage and less of a guessing game when AI is on your side.

Then there’s blockchain, the decentralized ledger that’s causing a stir in the accounting and cryptocurrency worlds alike. Blockchain offers security and transparency comparable to having your documents written down in stone. A transaction is as permanent as your aunt’s trade secret cookie recipe once it is recorded. Without requiring you to do the typical paperwork, smart contracts carry out their own operations while you relax and watch the magic happen.

More technical wonders are in store for the accounting and finance industries in the future. With cutting-edge innovations like quantum computing, calculating complicated situations faster than you can say “compound interest” may soon be part of your financial career. Accounting and finance are being transformed by the digital revolution into a field where your new digital toolkit is the sole thing crunching numbers.

In conclusion, the financial industry is evolving into a high-tech spectacle thanks to the digital revolution. Technology is making your work less repetitive and more strategic, from blockchain and cloud computing to automation and artificial intelligence. In other words, put your calculator away, dust up your spreadsheets, and get ready for a future in accounting that involves more than simply bookkeeping—it involves embracing the thrilling potential of the digital age. Greetings from the future of finance, where you get to enjoy the ride while technology takes care of the heavy lifting!

03Jan

Mastering the Job Search Game: A Comprehensive Guide to Developing Your Job Application Strategy

VrecruitfirstAccounting, Consultation, JOBS

Introduction: Embarking on a job search can be a daunting task, but with a well-defined job application strategy, you can navigate the process more efficiently and increase your chances of landing the perfect job. In this blog post, we’ll explore key elements of developing a successful job application strategy, including networking, tracking your activities, and the importance of follow-ups.

1. Developing Your Job Application Strategy: Where to Begin

Once you’ve established your timeline, target companies, and updated your materials, it’s time to plan how you’ll apply for jobs. Consider the following avenues:

Referrals: Leverage your network by seeking referrals from friends or former colleagues. Referrals can give your application a significant boost in the hiring process.

Contacting Recruiters: Reach out to both internal and external recruiters on platforms like LinkedIn and Indeed. Internal recruiters are employed by specific companies, while external recruiters work for agencies and often have multiple opportunities.

Cold Emailing: Don’t be afraid to reach out to professionals in your field. Craft polite emails to connect with recruiters, founders, or individuals in your dream role.

Applying Online: Even if you can’t secure a referral, applying directly through online job listings is still a viable option. Ensure your application stands out by tailoring it to the specific role.

Networking: Attend professional events, join relevant Facebook and LinkedIn groups, explore job fairs, and engage in social clubs to expand your network.

2. Track Your Job Search Activities with Linkedin, Naukri

Tracking your job search activities is crucial for staying organized. Utilize tools like Linkedin, Naukri, etc to:

  • Record jobs of interest from various job boards.
  • Highlight keywords from job descriptions to enhance your resume.
  • Track professional achievements, summaries, and target titles.
  • Organize multiple versions of your resume tailored to specific jobs.
  • Keep a record of companies you want to explore.
  • Manage networking contacts and schedule informational interviews.
  • Set follow-up reminders for each stage of the job search process.
  • Document notes from interviews and research about companies and hiring managers.

3. Follow Up: The Art of Staying on Their Radar

Sending thoughtful follow-ups throughout the hiring process showcases your dedication and interest. Here’s a suggested approach:

  • Initial Thank You: Send a thank-you email within 24 hours of your interview, expressing gratitude for the opportunity.
  • Timely Follow-Ups: If you don’t receive a response within the expected timeframe, send a polite follow-up email to reiterate your interest.
  • Be Patient: Lack of response doesn’t necessarily mean disinterest; hiring teams are often busy. Maintain a positive and patient approach.

Conclusion:

Crafting a successful job application strategy involves a combination of targeted efforts, effective tracking, and strategic follow-ups. By implementing these practices, you’ll not only streamline your job search but also increase your visibility and chances of securing your dream job. Remember, persistence and professionalism go a long way in the competitive world of job hunting. Good luck!

19Dec

Why is discussing an offer letter with candidates a good practice?

VrecruitfirstAccounting, Consultation, JOBS

The offer letter is one final communication with a prospect before they sign to become an employee. Everything that leads up to this offer matters a little more than the letter itself, but you don’t want to get your offer letter wrong. If you get it wrong, it could undo all your work throughout the hiring process.

If something doesn’t look right, potential employees may have second thoughts about leaving their jobs or picking your offer over someone else’s offer. 

Discussing the terms of an offer letter before making a formal job offer can be important for several reasons:

  • Clarity and Expectations:
  • It ensures clarity on both sides regarding the terms of employment, including salary, benefits, working hours, and other relevant details. It helps manage expectations and reduces the likelihood of misunderstandings or disagreements later in the process.
  • Efficiency:
  • Discussing key terms early in the hiring process can help avoid investing time and resources in candidates who may have unrealistic expectations or requirements that are misaligned with the company’s offerings.
  • Negotiation:
  • It allows for negotiation before a formal offer is extended. This can be beneficial for both parties, as it provides an opportunity to find mutually agreeable terms and can contribute to a positive start to the employment relationship.
  • Transparency:
  • Open communication about the terms of the offer demonstrates transparency and fairness in the hiring process. It fosters a positive employer-candidate relationship based on trust and openness.
  • Time Management:
  • Discussing offer details early can save time for both the employer and the candidate. If there are major discrepancies in expectations, it allows for early resolution or the possibility of moving on to other potential candidates without wasting additional time.
  • Legal Considerations:
  • In some jurisdictions, there may be legal or regulatory requirements related to the content of job offers. Discussing key terms beforehand ensures that both parties are aware of and in compliance with applicable laws and regulations.
  • Enhanced Candidate Experience:
  • Providing information about the offer early in the process contributes to a positive candidate experience. Candidates appreciate transparency and clear communication, and it can impact their perception of the employer and the overall recruitment process.
  • Risk Mitigation:
  • Discussing key terms in advance can help identify any potential issues or deal-breakers early on, reducing the risk of a candidate declining an offer after the formal offer has been extended.

While it’s common to discuss certain aspects of the offer before making a formal offer, it’s important to strike a balance and ensure that the discussions are handled professionally and with sensitivity to the candidate’s expectations and concerns.

A strong foundation for your offer letter is the best place to start. All offer letters should have some of the same components, including:

  • Branding that gives the offer letter weight and value.
  • A standard letter format, including the date, company name, contact information, and more.
  • An opening statement where you concisely mention the offer, position title, and company name. 
  • A brief description of the job where you include the expected hour, work location, start date, and a copy of the shortened job description from the job posting.
  • All salary and benefits information they need to decide, mainly if the salary was never discussed and you had a range on the job description.
  • At-will statement to announce that the company may terminate employment for any lawful reason – this is standard practice and will not scare away potential employees.
  • A final closing section where you give contact information for anyone who can answer questions, including the HR department and that employee’s direct supervisor.
07Oct

FAMILY VS TEAM

Vrecruitfirstteam

Family and team are two important aspects of human social life, each playing a distinct yet interconnected role in our personal and professional lives.

Families typically do not “fire” their members from their homes in the way that employers might terminate an employee from a job. In a family context, individuals generally live together and share responsibilities and support, and family dynamics are more complex than employer-employee relationships.

However, conflicts and disagreements can arise within families, and in some extreme cases, family members may become estranged or choose to no longer live together due to irreconcilable differences. This is not the same as being fired, but rather a decision made by individuals to distance themselves from certain family members or situations.

It’s important to note that family relationships are diverse, and there is no one-size-fits-all answer to how families handle conflicts or difficult situations. In most cases, families strive to resolve issues through communication, compromise, and understanding, rather than “firing” family members from their homes.

Family:

  • Blood or Chosen: Families can be defined by blood relations, including parents, siblings, and extended relatives, or they can be chosen, such as close friends or adopted family members.
  • Support and Care: Families are often the primary source of emotional support, love, and care. They provide a safety net and a sense of belonging.
  • Shared History: Families typically share a common history, traditions, and values. This shared heritage can be a source of identity and continuity.
  • Responsibility: Family members often have responsibilities towards one another, including caregiving, financial support, and emotional assistance.
  • Conflict and Resolution: Conflicts within families are common, but resolving these conflicts is important for maintaining healthy relationships. Communication and compromise are key.
  • Growth and Development: Families are essential for the growth and development of individuals, especially during childhood and adolescence. They shape one’s beliefs, behaviors, and worldview.
  • Longevity: Family bonds tend to be long-lasting and can span generations, contributing to a sense of legacy and connection over time.

Team:

  • Professional or Recreational: Teams can be formed in various contexts, such as in the workplace, sports, community organizations, or recreational activities.
  • Collaboration: Teams are groups of individuals who work together toward a common goal. Collaboration and synergy among team members are crucial for success.
  • Diversity: Effective teams often benefit from a diverse range of skills, backgrounds, and perspectives, which can lead to innovative solutions and problem-solving.
  • Leadership: Teams often have leaders or designated individuals who guide and coordinate the group’s efforts, making decisions and setting goals.
  • Accountability: Team members are accountable to each other and share responsibility for the team’s achievements and failures.
  • Shared Objectives: Teams are formed with specific objectives in mind, whether it’s winning a game, completing a project, or achieving a common mission.
  • Time-Limited: Many teams have a defined lifespan, with a beginning and end. They disband once their goals are met.

Interconnection:

  • Overlap: Many individuals belong to both family units and teams in various aspects of their lives. For example, a parent might be part of a work team and a family unit.
  • Transferable Skills: Skills learned in one context, such as communication or conflict resolution, can often be applied in the other. For instance, effective communication within a family can improve teamwork skills, and vice versa.
  • Supportive Roles: Family members can also be part of a support network for individuals in their professional teams, providing emotional support during challenging times.

In summary, family and team are two fundamental aspects of human social life, each with its unique characteristics and importance. While family is primarily associated with emotional support and personal bonds, teams are formed for specific purposes, often in professional or recreational settings. These two aspects of life are interconnected, and the skills and experiences gained in one can often be applied to the other, contributing to an individual’s overall growth and well-being.

09Sep

Bharat Mandapam effect on Finance and Accounting

SangnaAccounting

The G20 can have significant effects on the finance and accounting industry due to its influence on global economic policies, financial regulations, and international cooperation. Here are some ways in which the G20 can impact finance and accounting:

  1. Financial Regulation: The G20 plays a central role in coordinating global financial regulations. Its initiatives, such as the Financial Stability Board (FSB), have led to the development of international financial standards and regulatory reforms. These reforms can affect how financial institutions conduct their accounting and reporting, impacting the accounting profession.
  2. Stress Testing and Risk Assessment: G20 discussions often focus on stress testing and risk assessment for financial institutions. This can lead to changes in the accounting and reporting requirements related to risk management, capital adequacy, and provisioning for potential losses.
  3. Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF): The G20 emphasizes AML and CTF efforts, which can result in stricter regulations and reporting requirements for financial institutions. Accountants and auditors must ensure compliance with these regulations.
  4. Digital Finance and Fintech: G20 discussions on digital finance and fintech can lead to new accounting standards and practices to address the unique challenges of digital assets, cryptocurrencies, and online financial services.
  5. International Taxation: The G20 addresses international tax issues, including base erosion and profit shifting (BEPS) by multinational corporations. Changes in tax policies can impact financial statements, transfer pricing, and accounting for tax liabilities.
  6. Sustainability Reporting: As sustainability and environmental considerations gain importance at the G20, there may be increased demand for accounting and reporting standards related to environmental, social, and governance (ESG) factors.
  7. International Financial Reporting Standards (IFRS): The G20’s support for the adoption of IFRS globally has influenced accounting practices in many countries. It promotes the harmonization of accounting standards, making it easier for multinational companies to report consistently across borders.
  8. Financial Market Stability: G20 efforts to maintain financial market stability can impact accounting practices, especially in areas related to fair value measurement, impairment assessment, and disclosure requirements.
  9. Cross-Border Transactions: G20 discussions on trade, investment, and capital flows can impact accounting for cross-border transactions, currency exchange rates, and financial risk management.
  10. Corporate Governance: G20 principles and recommendations on corporate governance may affect accounting practices related to financial transparency, internal controls, and disclosure requirements for publicly traded companies.
  11. Auditing Standards: The G20’s focus on enhancing audit quality and auditor independence can lead to changes in auditing standards and procedures, impacting the auditing profession within the finance and accounting industry.
  12. Market Confidence: G20 actions and agreements can influence market confidence and investor sentiment, affecting financial reporting, disclosure practices, and financial performance of companies.

Finance and accounting professionals should stay informed about G20 discussions and their potential impact on their industry. They may need to adapt their practices, reporting standards, and compliance efforts to align with evolving global financial and regulatory landscapes shaped by G20 initiatives. Additionally, engaging in industry associations and advocacy groups can provide opportunities to influence policy discussions and represent the interests of the finance and accounting sector at G20-related forums.