Career Development Plan Summary
Career Development Plan Summary
Tool Distributors, Inc.
Career Development Plan Summary
Tool Distributors, Inc.
As you all know, Tool Distributors, Inc. has recently experienced considerable growth and members of executive management have asked for the restructuring of the financial department. The finance department has been asked not only to assume additional responsibilities but also initiate the hiring of additional team members. This report will introduce five new positions to the team, the implementation of a new training program, evaluation process, incentive/benefit package, compensation, and career development strategies to supplement these new positions.
New Team Development Until this point in time, the finance department has sustained five team members. Two members have been assigned to maintain accounts receivable, two other members to accounts payable, and a first level manager who maintains the general ledger functions of the accounting department. The increase of growth now requires the addition of another team of five to be added to the finance team. This team will be structured similarly with two accounts receivable and accounts payable members. These members will each have an assigned caseload and will be required to rotate caseloads with other members for four weeks throughout the year to provide cross-training, stimulate creativity and to minimize fraud. The fifth member will be assigned the role of a first level manager overseeing all levels of accounting functions. All members must be qualified accounting administrators able to perform accounts receivable and accounts payable functions and understand accrual accounting and GAAP procedures. A bachelor’s degree in accounting is preferable. The members must also be able to initiate efficiency procedures and be able to function well within a team environment. The first level manager in addition to accounting skills must have previous supervisory experience, be able to motivate team
Tool Distributors, Inc.
Career Development Plan Summary
Tool Distributors, Inc.
As you all know, Tool Distributors, Inc. has recently experienced considerable growth and members of executive management have asked for the restructuring of the financial department. The finance department has been asked not only to assume additional responsibilities but also initiate the hiring of additional team members. This report will introduce five new positions to the team, the implementation of a new training program, evaluation process, incentive/benefit package, compensation, and career development strategies to supplement these new positions.
New Team Development Until this point in time, the finance department has sustained five team members. Two members have been assigned to maintain accounts receivable, two other members to accounts payable, and a first level manager who maintains the general ledger functions of the accounting department. The increase of growth now requires the addition of another team of five to be added to the finance team. This team will be structured similarly with two accounts receivable and accounts payable members. These members will each have an assigned caseload and will be required to rotate caseloads with other members for four weeks throughout the year to provide cross-training, stimulate creativity and to minimize fraud. The fifth member will be assigned the role of a first level manager overseeing all levels of accounting functions. All members must be qualified accounting administrators able to perform accounts receivable and accounts payable functions and understand accrual accounting and GAAP procedures. A bachelor’s degree in accounting is preferable. The members must also be able to initiate efficiency procedures and be able to function well within a team environment. The first level manager in addition to accounting skills must have previous supervisory experience, be able to motivate team
References: Buckenmeyer, J. A. (1996, September 1). Self-managed teams: some operational difficulties.. Industrial Management, Retrieved May 25, 2008, from http://www.allbusiness.com/human-resources/employee-development-team-building/595059-1.html Business Wire, (2006, January 9). Employee retention and succession programs lead to higher retention, increased ROI, says AberdeenGroup. Retrieved May 25, 2009, from Bnet.com Web site: http://findarticles.com/p/articles/mi_m0EIN/is_2006_Jan_9/ai_n15990742 Cascio, W. (2006). Managing human resources: Productivity, quality of work life, profits (7th ed.). New York: McGraw-Hill -------------------------------------------- [ 2 ]. (footnote continued)