JOB MARKET NEWS
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Flexibility - Key Employee Retention StrategyOne of the key retention strategies used by successful companies to retain and manage the new generation of professionals is flexibility. Below are some tips on the implementation of a flexible working environment as provided by Busy Season at the CPA Firm Conference.
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Millennials at the WorkplaceMillennials is defined as the generation born between 1980 and 1995. Millennials grew up in the internet cloud era with information accessible fast, easy and at whatever time or place they wanted. Many were raised by helicopter parents at wealthier households who provided encouragement on a constant basis.
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Finding Qualified Staff Number 1 Concern AICPA Survey“Finding qualified staff” was the No. 1 issue for every firm-size segment except sole practitioners, according to the 2019 AICPA PCPS CPA Firm Top Issues Survey, sponsored by the AICPA’s firm practice management section.
After María – Job Market ChangesBesides the humanitarian crisis and economic losses there one aspect of Hurricane Maria that just a few have written or talked about.
Maria has changed the employee/employer relation and will change the job market for employers and professionals in Puerto Rico significantly. |
Accountants Salary ExpectationsThe job market for top qualified accounting professionals for positions such as auditors, tax accountants, and financial analysts is a candidate’s job market. It means that there are very few available top qualified candidates available for the open positions. The effect is higher salaries expectations from candidates’ due to the demand vs offer effect.
Employee Turnover CostEmployee turnover costs may be defined as the cost of separation, replacement, training and productivity when an employee departs. According to the Society for Human Resources Management total turnover costs may be calculated as 50% to 60% of the employee annual salary.
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Labor Reform - Job Market EffectOne of the key changes of the reform is the extension of the probation period to 9 months for hourly employees and 1 year for employees qualifying as exempt professionals under federal law.
The one year probationary period may apply to many new hires in the accounting profession. While much discussion has been based on what is reasonable time for an employer to evaluate an employee to commit for a permanent position we would like to discuss what is the possible effect on the current job market and job offer negotiations for audit, tax, accounting and finance professionals which as many of you know at this point is a candidates job market. |
The $15 minimum wage movementThere is a growing $15 minimum wage movement in the United States that is starting to have an effect in companies doing business in Puerto Rico. As a result of this movement companies and governments are affecting the job market significantly.
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