Essay Example on Hiring Financial Manager: Job Specs, Compensations & Benefits

Introduction

The focus of this essay is to hire to fill a single position in the organization. In achieving the objective, it illustrates in detail a new position of a financial manager in an organization. The job components in the job specifications and description for the position include; the job title, duties, skills and qualifications, and job purpose. Also, the compensations and benefits of the financial manager are considerate and fair.

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Needs in the Organization

The new position in the organization is that of the financial manager. The position will fill the financial health needs of the, organization. An excellent example of such needs includes; the production of the financial report, developing plans and strategies for the long-term financial goals and direct investment activities of the organization (CareerExplorer, 2019). Also, the position will feel decision making needs by aiding management come up with an outstanding financial resolution.

The Job Components

It comprises basic job-allied data which is useful in advertising a specific job and draws a pool of talent. Job description includes information like job title, job summary, job location, reporting of and to employees, objectives, and nature of a job, working conditions, duties to be performed machines, equipment, and tools to be applied by an employee and risks involved in it (Yonahara, 2020). Job specification refers to a written statement of specific qualities, education qualifications, level of experience, and communication and technical skills.

In my case, the financial manager is the job title. The job purpose of the financial manager is being responsible for the company's financial health and directing senior executives towards sound business decisions. The job duties of the financial manager consist of overseeing the financial department employees, including accountants, and financial assistants. The other duty is monitoring the day-to-day company's financial operations and understanding as well as adhering to financial legislation and regulations. The skills and qualifications of the position are an advanced degree in business, economics, accounting, finance, or a connected field. It is essential to have several years of experience within a finance role. Also, it is crucial to possess superior mathematical skills and leadership skills.

Compensation and Benefits Package

Due to the essentiality of the financial manager to the organization, the starting salary will be around $55,000 (Financial Manager). However, the amount is not fixed since it will keep being increased as the organization expands in size and as the manager's experience years' rises. The financial manager is also entitled to receive additional compensation in the form of stock options. Since, the institution is located in a semi-arid area with a lot of food insecurity, hardship and housing allowance are offered. The financial manager will also enjoy, the medical insurance coverage offered by the organization.

Conclusion

It is vivid from the discussion above that job analysis is a prime tool in collecting job-related data. The two data sets comprise the job specification and job description. Therefore, the financial manager position cannot be filled unless and until the HR manager has two data sets. They will aid both employees and employers understand what precisely needs to be conveyed. Also, compensation is another basic factor identified, where the financial manager salary has a specific starting point, but not fixed since it increases with the size and number of years of experience.

References

CareerExplorer. (2019). What does a financial manager do? Retrieved from https://www.careerexploer.com/careers/financial-manager/

Financial Manager. (n.d.). Retrieved from https://careers.stateuniversity.com/pages/cv4e5exsu3/Finacial-Manager.html

Yonahara, C. (2020). 5 Critical Components Every Job Description Must Contain. Retrieved from https://hrdailyadvisor.blr.com/2012/02/15/5-critical -components-every-job-description-must-contain/