CMA Daily News

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Survey: Online Networking Sites Capture Interest of Hiring Managers

MENLO PARK, CA -- Job hopefuls seeking an edge in an increasingly competitive job market shouldn’t overlook online networking sites, a new survey suggests. Nearly two-thirds (62 percent) of executives interviewed believe professional networking websites -- like LinkedIn -- will prove useful in the search for job candidates in the next three years. And one in three (35 percent) respondents cited social networking sites -- such as Facebook or MySpace -- as a recruiting resource they plan to tap.

The survey was developed by Robert Half International, the world’s first and largest staffing services firm specializing in accounting and finance. It was conducted by an independent research firm and is based on interviews with 150 senior executives from the nation’s 1,000 largest companies.

Executives were asked, “Which of the following technology tools do you believe will be most useful in your firm’s recruiting efforts in the next three years?” Their responses:*

Professional networking sites		62%
Social networking sites		35%
Video resumes		20%
Second Life		7%
None of these		15%
Other/don't know		10%
*Multiple responses were allowed.

“Maintaining and developing professional contacts has always been a vital job search strategy, and networking websites are another vehicle for doing so,” said Max Messmer, chairman and CEO of Robert Half International and author of Job Hunting For Dummies^®, 2nd Edition (John Wiley & Sons, Inc.). “Networking sites can be used to identify new career opportunities, create online profiles that highlight one’s skills and experience, and build a roster of business contacts over time.”

While embracing technology can be beneficial, Messmer cautioned job seekers not to depend exclusively on the digital world. “Tried-and-true methods such as networking at industry events, submitting well-written resumes and cover letters, and diligently following up with hiring managers are still essential to landing the ideal job,” Messmer said. “Combining personal and online networking offers the best of both worlds.”

Robert Half offers the following tips to make the most out of online networking:

• Craft your profile carefully. Pay as much attention to the content of your online profile as you would the information in your resume, and ensure the content highlights your professional skills, not just your personal interests. Also double-check for typos and grammatical errors.
• Ask for recommendations. Most professional networks provide space for others to comment on your work or recommend you to others. Don’t be shy about asking colleagues to post on your site. These testimonials help hiring managers learn more about your experience and work ethic.
• Build your list of contacts. The more quality contacts you have, the better. Invite trusted friends and colleagues to join your network. If you see an interesting profile in one of their networks, ask them to introduce or refer you to that person.
• Don’t post anything you wouldn’t want an employer to see. Job seekers should exercise discretion when posting personal information online. Use privacy settings effectively and make sure that any public messages or images you post don’t detract from your professional image.
• Don’t stop networking once you have a job. Savvy job seekers continue cultivating their networks after they secure positions. Online networks aren’t just job search tools; they also help you stay up-to-date on industry trends, find mentors who can offer valuable career advice, and alert you to upcoming events and educational opportunities.

Robert Half International has more than 360 staffing locations worldwide and offers online job search services at www.rhi.com.

NOTE: If you are on linkedin.com you can look up many of the CMA Team and add them to your network; Dina Amadril, Jodi Owens, Laura Rothman, Rob Svehlak, Kim Lamberty,  & Amber Jackson.

How NOT to Answer a Phone Call

By Nancy Friedman Telephone Doctor

Throughout the years, many of our Telephone Doctor® clients have taken the time to jot us a note letting us know about their good and bad experiences, both in person and on the phone. Judging from the amazing number of entries we received for our book Customer Service Nightmares, I suspect this is their way of venting and releasing frustration. We're always happy to receive your notes and emails. Keep 'em coming, please.

The recent email below gave us some good ammunition for an article. While the industry, as you can see, is in the legal profession, believe me, it happens all the time in every industry. Read on:

Around 1:00 p.m. today I returned opposing counsel's telephone call from this morning. The first person that answered the phone took my name and asked me to hold while he checked to see if she was back from lunch. After a short hold he came back on the line and transferred my call. At that point opposing counsel's assistant answered the phone. She took my name for the second time and put me back on hold. After holding a couple of minutes, opposing counsel's assistant came back on the line and asked if I could call back in twenty minutes! I am sure that her assistant is telling opposing counsel that I am a jerk because I answered, "No, I am calling her back now."

Let's say you're training a group. What usually happens is most of the group understands, learns and benefits from the information you've taught. Unfortunately, not everyone "gets it." What do we do about that small percentage of employees - often good, conscientious people - who may need personalized attention after training? Those are the ones who need coaching
.
Unbelievable. Makes me wonder how they handle calls from their clients.

It's not important to know the "who" in this story. It's more important to learn the "why" it happened. And more importantly, how to fix it! That's what this article is about.

It's a well-known fact that first voice you hear when you call a company sets the tone, makes the first impression and welcomes the caller. It starts the rapport-building factor. Few will argue that point.
While there are several "faux pas" in the above email note we received, which is the MAJOR one? Reread it and see if you don't agree with Telephone Doctor mentality, culture and philosophy. Our answer is at the end of this article.

In the meantime, it sounds as though the opposing counsels office can use a dose of our Basic Basic Telephone Skills program. Listed below are a few key points from our popular DVD program Basic Basic Telephone Skills. Know anyone else who might benefit from this list?

We're going to give you the Telephone Doctor® Four Step Model for effective coaching in a call center or business environment.

1. While we didn't get to find out HOW they answer the phone with their initial greeting, we hope they used the Telephone Doctor 3-part greeting. A buffer, the company name and then their name. Remember; "How can I help you" is NOT necessary in initial greetings. You are there to help. That is why you answered the phone.

2. Learn how to put a caller on hold. "Hold on," CLICK is not effective. Neither is "Hang on a second." Several years ago we ran a survey with USA Today to find out what frustrates the caller the most. YES, BEING PUT ON HOLD was the NUMBER ONE frustration of the American public. That was 12 years ago. Today, it's number 3 with, yup - you guessed it - the automated attendant being number one!

3. Monogram the call. If the caller lets you know his/her name; USE IT. Immediately.

4. Leave a good lasting impression. Seems as the opposing counsels office didn't do that. Remember we'll tell more people about a bad experience that we will a good one. Not sure why. But it's true.

What's the biggest Faux Pas?

Asking a caller to call back! We never ask anyone to call back. That's like kicking a customer out of the door at the store. When someone calls us, it's our job to return the call, or have it returned on our behalf. Asking someone to call back is just RUDE. (Exception: there are times when the caller will say, "Let her know I called and I'll call back." That's fine if it's the caller's choice. But to ask a caller to please call back; Wow! BIG MISTAKE. That's a real NO NO!

It's Getting Much Harder to Receive

Finance departments are feeling a sharp credit pinch as more customers put off paying their bills.

Last month, former IBM and Chrysler Corp. finance chief Jerry York warned CFOs to watch their receivables "like a hawk."

His advice at this year's CFO Rising conference accentuated his dire prediction that the U.S. economy is entering a long and dark recession. "In a contracting economy, receivables become a concern," he said.

Read the full story on CFO.com

Post-SOX Audit Quality Has Improved, Say Nation's Audit Committee Members

Respondents believe most SOX-related changes have had positive impact
More than three-quarters of audit committee members who took part in a recent survey commissioned by the Center for Audit Quality (CAQ) rate overall audit quality "very good" or "excellent," and 82% say it has improved in recent years.

The survey offers an unprecedented look at the views of key players in the fight against corporate fraud—corporate board members who oversee the preparation and auditing of public company financial statements. The findings indicate that even in the face of market turbulence, audit committee members have high confidence in the quality of audited financial statements and consider the Sarbanes-Oxley Act (SOX) a positive influence.

About 53% of the audit committee members agreed that overall audit quality is "very good," while 25% described it as "excellent." About 87% said the risk of inaccuracies in financial statements due to fraud is "not very high," and 60% agreed that the risk declined after the passage of SOX. Audit committee members indicate they believe the risk of fraud and materially inaccurate statements is low due to tightened internal controls and increased external auditor scrutiny.

Nearly two-thirds (65%) agreed that investors should have more confidence in the markets as a result of the 2002 law.

"The findings confirm that public company audit quality is high and has only gotten better in recent years, according to the people closest to the process," said CAQ Executive Director Cindy Fornelli.

The views of audit committee members echo the results of a CAQ poll of investors last July. That survey found that 80%of investors had confidence in audited financial information, and 56% thought SOX was a good idea.

The CAQ periodically measures attitudes toward the capital markets as part of its mission to improve financial reporting and enhance investor confidence.

"The CAQ's research tells us that Sarbanes-Oxley is working—for investors, for audit committee members and for our capital markets," said Michele Hooper, co-founder of The Directors' Council and one of three public members on the CAQ's governing board. "We should always strive to do better when it comes to safeguarding the integrity of the markets, but it's good to know that we're making progress."

Participants in the audit committee survey represented a broad range of publicly traded companies. All served on at least one audit committee in 2007. Six in 10 served on two or more audit committees, and half were committee chairs. About 56% began their service as audit committee members prior to enactment of SOX.

Overall, 58% of the audit committee members said changes resulting from SOX had a positive impact. They offered several reasons for the improvement, among them:

• Increased audit committee oversight—92%
• Requirements regarding internal controls—87%
• Better communication within audit committees—85%
• CEO/CFO sign-off on financial statements—81%
• Increased emphasis on quality by auditors—77%
• More rigorous audits—76%
• Audit committee oversight of auditors—76%

Nearly all of the audit committee members (99%) said they devote more time to their committee work as a result of SOX. About 90% said they work more closely with external auditors.

The audit committee members expressed mixed views on the efficacy of audited financial statements filed with the U.S. Securities and Exchange Commission (SEC). Although most described financial statements as "easily accessible" (81%) and "relevant to investors" (87%), 78% said they are too complicated.

Since 1972, the SEC has encouraged the establishment of audit committees, a committee of the board of directors of publicly held companies. The Sarbanes-Oxley Act of 2002 expanded the role of audit committees by increasing their responsibility and requiring them to limit their composition to independent directors. Audit committees are charged with monitoring the internal control processes, the hiring and firing of external auditors and overseeing the audit and financial reporting processes.

The Internet survey of 253 audit committee members was conducted between January 7 and February 20, 2008, by The Glover Park Group. The survey questionnaire and complete results are posted on the CAQ's Web site at www.thecaq.org/newsroom/pdfs/auditsurvey.pdf.

Source: The Center for Audit Quality (CAQ)

Can I Get That to You on Tuesday?

Why tackle today what you can put off until … Tuesday? In a new survey, 57 percent of executives polled by Robert Half said Tuesday is the most productive day of the week for employees. Monday, the second most popular answer, received just 12 percent of the response.

Here are some tips to maintain productivity throughout the week:

• Make a plan. Spend 10 to 15 minutes at the beginning of each day mapping out your desired accomplishments. Prioritize the tasks that are most important to the business.
• Sharpen your focus. People are more productive when working for an extended period in the same mental mode, as opposed to changing gears frequently. Try to cluster tasks that require similar effort or resources in the same time frame.
• Limit distractions. It can be tempting to review e-mail each time a message arrives. However, unless your job requires an immediate response, it’s often best to check your inbox periodically throughout the day.
• Don’t delay. Even peak performers occasionally put off working on unpleasant or overwhelming assignments. One effective way to overcome procrastination is to break a project into smaller, more manageable tasks.
• Recharge. Taking short breaks throughout the day can help you replenish your energy and fight fatigue.

Source: Robert Half workvine.com

Payment Fraud on the Rise

In its latest survey of payment fraud, the Association for Financial Professionals found that 71 percent of organizations experienced payment fraud in 2007 and a third of them saw more incidents of fraud compared with the previous year.

Read the full story on CFO.com

York: A Long, Ugly, Deep Recession

Addressing the topic of what boards are demanding from CFOs, York said if he had only five minutes to give his speech, he would tell finance chiefs that: "CEOs and boards are just going to expect you to get these companies through the mess," emphasizing that, "I think this is going to be a very ugly recession, I think it is going to be lengthy, I think it is going to be deep."

Read the full story on CFO.com.

6 Skills of Listening - The Telephone Doctor

by Nancy Friedman, The Telephone Doctor

Pretend you're a real estate agent, showing a 5 million dollar home to a nationally known sports star. This sports star and his beautiful actress wife really like the house. If the sale is made...the commission will allow you to buy a new luxury car and pay off a lot of bills.

As the sale is about to be closed, the athlete's cell phone rings and his smile turns to a frown. He has just been traded and will be leaving town. He relays the message to his wife who breaks
down and cries. Question: how old is the real estate person?
Give up? It's not a trick. You might want to re-read the scenario. It says pretend YOU are a real estate sales person - so how old are you?

OK, it was a trick. But no more trickier than listening to your customers whether you're on the phone or in person. Listening is an art - not a science. And while we usually can 'hear' customers, Telephone Doctor often wonders if we're really 'listening' to them.
You might think listening is easy. After all, doesn't everybody listen?

Listening isn't the same as hearing. Think about a commercial for a product you have no interest in, it's easy to tune that information out, isn't it?

Hearing is one thing, but listening and mentally absorbing the thoughts is another thing. That's why we say listening is an art - not a science. While it's easy to 'hear' what the customer says, great customer service begins with great listening skills.
Here are 6 steps to becoming a better listener. And if you think you're already a pretty good listener... pass this along to someone who could also benefit from improved listening skills.

TIP #1 - DECIDE TO BE A BETTER LISTENER
   In school, you're taught to read, write, do math, and dozens of other topics. I don't know about you, but in all my schooling, I don't ever recall having a course on listening. And yet, as we all know, listening is an important, some would say even a crucial skill. The first step is all about you - your personal commitment to being a better listener.

You need to decide to be a better listener. So make that decision now. You're going to be a better listener and you're going to work at it. And here's how..

TIP # 2 - WELCOME THE CUSTOMER
   Be obviously friendly. By being obviously friendly and welcoming the customer, it immediately sets the stage to let the customer know that you're interested and actively listening. One effective way to show you're listening is to tell the customer: "You've come to the right place."

TIP #3 - CONCENTRATE
   Your mind processes information much faster than the normal rate of speech and because of that ability, your mind half-listens and does other things too. Your brain tends to solve other problems, to think about what you're going to say next, other calls you need to make, lunch plans or a host of other activities.

The mind needs to be disciplined to pay full attention to your customer and to listen closely. Even when you try to listen closely, little things can distract you, like a regional accent, or someone who speaks too rapidly, or when the customer's discussing a topic you don't find interesting. It's easy to be distracted by things happening around you. But don't let that happen. Concentrate.

TIP #4 - KEEP AN OPEN MIND
We'd go a long way toward curing the problem of poor listening habits by not interrupting our customers. By carefully listening and letting the customer finish their conversation, you hear them out completely. AVOID JUMPING TO CONCLUSIONS. That's an important step in the direction of keeping an open mind and solving the real problem.

This is a good time to talk about the difference between a "fact" and "assumption." A statement of fact is normally made after an observation. An assumption can be made any time -- before, during or after an observation (or with no observation at all.)
We want to operate as closely as we can with facts rather than assumptions. And a good listener tries to stay objective and not be judgmental. Try not to let personal impressions modify what you hear. Keep an open mind.

TIP #5 - GIVE FEEDBACK THAT YOU'RE LISTENING
   Often, when the person on the other end of the line doesn't give you feedback, you think you've been disconnected. Remember, with the phone there are no visual signals. Too much silence on the phone, or even in person, gives the impression you're not listening.

Even when you're thinking, or looking for something, you need to send feedback - a variety of short replies acknowledging the customer. Give them a spoken signal that you're receiving the message. Phrases like "bear with me while I look that up" or "let's see what the notes say..." are examples. And notice too, I said a variety of replies...not one word like okay, okay, okay, okay, okay, okay.

TIP #6 - TAKE NOTES WHILE YOU LISTEN AND REVIEW NOTES WITH THE CUSTOMER
   I know this is basic, but it's so important. There needs to be paper and a pen or pencil by every phone. Write down key words as people talk - the customers name, what they need, any follow-up items. Please don't take a chance on forgetting when it's so easy to write things down. Make up your own abbreviation system as a memory jogger. And if your customer gives you lots of extra information, eliminate the unnecessary bits that can be safely discarded. Whether you're taking a telephone message or helping a customer, repeat and paraphrase the message back to the customer to be sure you've got it correct. It lets the customer know you've really listened. Mistakes happen. We're only human. However, many mistakes are avoidable. If we could get 250,000 people to make one less mistake, a mistake that costs their company just $40, that would be a savings of $10 million dollars. And it's such a simple thing to do.

Common Auditing Screw-ups

CFO.com asked 172 partners at the Big Four firms across Europe for their honest appraisal of their clients' biggest shortcomings. Fix these problems, auditors say, and audits will go more smoothly, relationships with auditors will improve and, possibly, fees will fall.

Click here for the results.

Survey: Finance Women See No Progress in Pay Parity

Almost two-thirds of the respondents think their gender holds them back in their career.

Almost 100 percent of the respondents to a survey of women in finance believe that women are being paid less than men for comparable work.

The figure, 96 percent of the 259 members of the Financial Women's Association who took part in the survey, is identical to that reported by the FWA in 1998. That shows "that the perception of pay parity has not improved in almost a decade," according to a release issued by the 1,000 member association Friday.

Read the full story on CFO.com