How Much Does Turnover Cost in the Finance Industry?

June 19th, 2015

Employee turnover is one of those unfortunate factors that all workplaces face at some time or another. When employees leave jobs during the first few months, it can be a sign that things need to change. This can be either a revised recruitment strategy or improvement of the compensation and work environment.

Why turnover happens in finance

Most employees leave simply because they have grown unsatisfied with the work they do, or the company has not met up to their career expectations. In the finance world, this happens often as employees get burnt out or feel like they are in dead-end jobs. The US Department of Labor statistics for the second quarter of 2015 indicates that as many as 2.7 million workers quit jobs in April, and that, “quits increased in several industries, with the largest rises occurring in durable goods manufacturing; finance and insurance; and health care and social assistance.”

It has been estimated that as many as 70 percent of employees are unhappy at some point in their careers. A recent Gallup poll found that, “actively disengaged employees cost the US $450 to $550 billion per year.” Finance and accounting professionals may be more susceptible to this because they work long hours, often on tedious projects, and they have seasonal ups and downs that can interfere with other aspects of their lives. Just ask any CPA what the tax season is like for them, and you get the idea.

What does it cost a company when a finance employee leaves or when there is frequent turnover in these roles?

To answer this question, one must first understand turnover costs for all types of employees. Most experts believe that a single employee turnover costs a company between 50-to-200 percent of that employee’s annual compensation. This includes the costs to recover lost productivity, source and select a replacement hire, and the potential lost revenues from losing an employee. When most finance employees are earning from between $40-120K per year just in salaries, and managing large financial accounts- the costs can range from $20-240K per lost finance employee.

To gain a better understanding of what it may cost you to lose finance employees to turnover, here is a free calculator offered by the Center for Economic and Policy Research.

To reduce the costs of turnover, look to the support of a financial recruitment firm like Venteon technical staffing. We have many quality accounting and financial candidates who are pre-screened, trained, and ready to go to work for you now.


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How to Sell a Position in a Job Interview

June 12th, 2015

Interviewing a candidate and having them get excited about a potential job should be relatively simple, right? Not so much. The job market is candidate-driven right now, and this means sometimes you have to go out of your way as a recruiter to “sell” a position to a potential candidate during interviews. This means communicating a strong sales pitch to the candidate without sounding too desperate in the process. If you want a great candidate for your company (or the client you are working with) then you need to be able to do this well. It takes a little practice, but the results are worth the effort.

Here are steps on selling a job to a candidate of your choice, without appearing to be too eager.

Step 1. Make the candidate feel special

It’s been said that, “flattery will get you everything” and this may be true to some extent. Your job as a recruiter is to impress the candidate enough that they want to learn more about the position and the company. Do this by complimenting the candidate on their skills, experiences, and accomplishments as they present on a resume. Then let the candidate know you think they have that “special spark” that you don’t see very often in the candidates you meet. Probe a little, and find out what the candidate is really looking for in terms of compensation, career growth, and a company. (Hint: You will return to this later in the conversation!)

Step 2. Connect the candidate’s goals with the company’s

Once you have the candidate’s attention in a positive way, it’s time to connect the dots between what the candidate is trying to achieve in a career and what the company is about. Share the company’s vision and mission statement with the candidate, in a brief way. Talk about some of the great things that the company has achieved in a short period of time. Talk about the ways in which the candidate’s background is perfect for the position being offered.

Step 3. Sell the big package to the candidate

Now comes the time to seal the deal with the candidate. You have a pretty good idea what the candidate is looking for. You know the general compensation range, the career goals, the ideal type of company that the candidate is looking for, and the direction that the candidate wants to go. Now it’s time to sell the big package to the candidate. Let the candidate know that you are creating something specifically for them, based on the unique skills and career background there. Go over and beyond what you think the candidate wants.

By following the above tips, there’s a good chance that the candidate will say “Yes!” to your job offer. If not, go back to step 1 and get more information from the candidate on what it will take to get them on board.


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Launch Engineer – Application Engineer – Design Engineer – Contract & Direct Hire Openings, Troy, MI

June 10th, 2015

Our Engineering Practice is looking for the below Engineers for our Clients, excellent opportunities, immediate needs.  Send resumes to and check ALL our openings at

Launch Engineer

  • A Tier 1 Stamping Company in the greater Detroit area is searching for a Roll Forming Launch Engineer.
  • We are looking for a Processing person that has considerable Roll Forming experience and knows Launching Equipment.
  • Need someone who can look at a Roll Mill when a set of Rolls is making a bad part and knows how to fix it.
  • This Permanent / Direct Hire Positon offers Competitive Compensation and Great Benefits!


Design Engineer

  • Entry Level Solidworks Design Engineer
  • 1-2 years of experience working in a machine design environment.
  • Pay rate-$17-$25/hour.


Application Engineer

  • Our client in Plymouth, MI is looking for an Application Engineer to join their growing team!
  • Responsible for the concept, design, development and production support of Powertrain System Components.
  • Works day to day with a variety of internal and customer teams.

How to Successfully Onboard Finance Employees

June 5th, 2015

Onboarding new finance employees is a process that should be taken seriously and done as in-depth as possible, so the new employees do not have too many questions. The stronger your onboarding process is, the easier it will be for the new finance employees to adjust to their new jobs. You can never make the assumption that what you told the employee during the job interview is all they wanted to know. Follow the tips outlined here to successfully onboard finance employees.

Publicize New Hires to Entire Company

Your company needs to make a good first impression on the finance employee’s first day on the job. This begins with publicizing the hire of the new employee to the entire company using an email blast. This helps all in the company know to look for a new employee on the designated start date. All employees and management know that someone new will be in the office, and they should welcome them with a smile and a handshake. This makes it easier for the new employee to meet their co-workers.

Schedule Training Sessions

Another tip for onboarding finance employees is to schedule training sessions for their first week on the job. These training sessions are important, so the employee can learn the software used by the company, the policies in place and much more about the company. Training sessions will also be used to have the employee ask questions, sign documents and voice any concerns about their office.

Check-In Often

As an HR manager, make sure you check-in with the new finance employee as often as possible to ensure that they are doing well. You can check-in by calling their office phone, sending an email or popping by their office. Simply ask them if they need help with anything, if they are adjusting well and if they would like clarification on anything. These three questions will help you make life easier on the new hire.

Have a Meeting First Thing in the Morning

On the finance employee’s first day, schedule a meeting with them for first thing in the morning. This should happen prior to the employee being taken to their office. Have them sign all their HR paperwork at the meeting, and explain company policies and more. Make sure their office is set up, including all of their technology, so they can test it out with you present on their first day.

Onboarding new finance employees is very important to the company and the employees. If you provide them with plenty of information, answer their questions, and make them feel welcome, then they should have no trouble assimilating to your culture.

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The Secret to Answering “Why Did You Leave Your Last Engineering Job?”

May 29th, 2015

For the engineering candidate, one of the most difficult questions to answer during a job interview is, “Why did you leave your last engineering job?” When this question is posed during a job interview, the candidate will often become stressed and worried. This question will undoubtedly put the candidate on the spot, but it should not harm their chances at remaining in the running for the job.

Learn how to answer this question with tactfulness and get selected for an engineering job in your area of expertise.

Always Offer an Honest Answer

Make sure that your answer is always honest when presented with this difficult question. Remember that the employer will check with your references, perform a background check and even talk with your former supervisor. The answer to this question needs to show the company that you are not a flake and just like to hop around from job to job. But, if you have been let go, you need to tell the interviewer this so they don’t find it out elsewhere. Being let go will worry you, but chalk it up to a learning experience.

Offer a Short Answer

Do your best to answer the question in as few words as possible. The longer your answer, the likelier it is that you will begin to fabricate what you tell the employer. Also, a longer answer might make it seem like you are fishing for things to talk about because you want to hide the true reason as to why you left your last engineering job. A long answer could also lead to you talking inappropriately about former co-workers and former supervisors.

Give a Positive Answer

The answer you give the interviewer to this question should also be a positive one, no matter the reason why you left your previous engineering job. Avoid painting yourself as a victim at all costs, even if you were unfairly let go or if you were treated poorly at your last job. There is nothing wrong with saying a job was not the right fit for you, but be sure you have concrete evidence to offer the interviewer that backs up this claim.

Express Interest in New Career

As with any question posed during an interview, you need to express interest in the new job as much as possible. Even when you are asked “why did you leave your last engineering job,” you should still conclude your answer with how interested you are in the new job. Talk about duties of the new job that interest you the most and why you can handle those duties.

When asked, “why did you leave your last engineering job,” you need to be honest with the interviewer so you do not hurt your chances of employment. But, keep it positive and proactive at the same time. References and former employment will be checked. So, be sure you offer a straightforward answer.

Looking for Qualified Engineers: Engineering Manager, Sr. Engineer, Program Manager – DIRECT HIRES, MI

May 26th, 2015

Our Clients are looking for the below individuals, strong engineering, DIRECT HIRE POSITIONS.  Email your resume to or check all our opportunities at


Engineering Manager – Product Development (Direct Opportunity)

  • BSME or BSEE  
  • 10+ years in Mechanical Engineering & technical discussion with parts suppliers.
  • Design experience using CAD (CATIA V5) required.
  • 3+ years group managing experience required.
  • Will lead two engineering groups – liaison and design groups.


Program Manager – Product Development (Direct Opportunity)

  • BSME or BSEE related degree required
  • Must be able to work in a “Start-up” organization environment with unknown processes and procedures
  • Automotive Engineering experience, including:
  • Design/release experience in Vehicle Engineering
  • Background in vehicle development
  • Fundamental understanding in NVH, integration, test development, ride & handling and controls.
  • 15+ years in experience in product development and project management


Senior Engineer – Package Layout Design (Direct Opportunity)  

  • Package layout design & component in vehicle integration design.
  • Market study and benchmarking
  • Clarify market demands and reflect into vehicle package layout design
  • Support digital mock up activity
  • BSME related degree required
  • 5+ years in Mechanical engineering
  • 5+ years using CAD (CATIA V5)

Why Use a Staffing Agency for Engineering Hires?

May 22nd, 2015

An increasingly popular college major today is that of engineering. This means that there will be plenty of engineering graduates flooding the job market in the coming years. This is both a blessing and a curse for companies looking to hire engineers. Not all of them will be qualified for open jobs, while others will be perfect candidates for some open jobs. The best way to make the hiring of an engineer simpler is to work with a staffing agency to bring in the right candidate for the job.

Test the Candidates

One of the most important reasons for using a staffing agency for engineering hires is that the company will be able to test the candidates prior to extending an offer of full-time employment. You can bring in the candidates for a three-month, six-month or custom contract and watch them on the job. You do not even have to tell them that they are being considered for a full-time job. That way, you are seeing how they work and who they are as a person and not an act because they know a full-time job is at stake.

Reduce Hiring Costs

Another advantage of working with a staffing agency when hiring an engineer is that your company will be able to reduce hiring costs. Your HR department can focus on issues within the company instead of spending time looking for new employees. A representative from the staffing agency will come to your company, take a tour, talk with management and get a feel for the company needs when it comes to engineers. They will then use all they learned about the company to find, screen, interview and place engineers when your company requires them.

Save Time

An added benefit of working with a staffing agency for engineering hires is that your company will be able to save time. If an engineering job opens up out of the blue, maybe due to an illness or an employee leaving, the company can fill it almost immediately with an engineer provided by a staffing agency. Staffing agencies are always one step ahead of the game, vetting candidates in advance of companies needing them. This means that the agency will have a list at the ready and can send someone over at a moment’s notice.

Increase Productivity

Does your company need to see a boost in productivity? If so, a staffing agency can help with this goal. Even if you need to bring in an engineer on a temporary basis, he or she will be able to help with an overload of work so your full-time employees are not stuck working overtime. The temporary engineers will also be able to meet deadlines and perform quality work you are accustomed to receiving from your regular staff.
As you can see, working with a staffing agency for engineering hires comes with quite a few benefits. Contact Venteon Staffing today to begin the process.


May 21st, 2015

Director of Engineering

  • Strong track record of leading technical product development teams in automotive
  • Proficient with DFSS, Product Development s/ Six Sigma, the DMAIC process, etc.
  • Can effectively manage teams and processes
  • Proven ability to develop effective new technologies and technological processes for production in the automotive industry
  • Experience in Metallurgy, Material Processes, Interiors and Seating
  • BSME Michigan Technical University


Sales Engineer

  • Experienced in total sales cycle for automotive components
  • Strong technical background; proven ability to learn new technologies
  • Experience in powertrain and electronics within the automotive industry
  • Background in Sales, Design and Quality
  • BSME, Michigan State University


Safety Engineer

  • Proficient in Microsoft Office, MS project, AutoCAD 360, and CATIA V5 design tools
  • Trained on DFMEA (Design Failure Modes Effect Analysis) and Root Cause Analysis
  • Read, comprehend, and utilize vehicle schematics to develop and validate customer test plan for vehicle/part safety requirements
  • Prepare quotes, POs, and Safety Data Reports for a variety of customers using ASCI/Excel.
  • Identify, track, and resolve open issues using knowledge of key crash requirements – FMVSS, IIHS, NHTSA, and Euro NCAP
  • Masters of Science-Biomedical Engineering, Wayne State; Bachelor of Science-Biological Sciences, Wayne State


Electrical Engineer

  • Bachelors of Science in Electrical Engineering (Graduated 2010)
  • Extensive experiences’ with customer walk-throughs to ensure proper communication and completion of projects
  • Experience with Data Center Infrastructure Management programs such as Six Sigma and StruxureWare Operations and Expert
  • Collect and maintain site data for enterprise data centers
  • Knowledge of IntelliCad and AutoCAD
  • Basic understanding of Allen Bradley PLC for 10 Axis CNC Machines

How Strategic Thinking Can Make You a Better Manager

May 15th, 2015

Management is one of those career areas that will always provide a challenge. It’s easy to get caught up in trying to remain in control of everything and everyone on your team, which just creates chaos. Whether you are a new manager or you are seasoned, the missing link that many managers struggle with is the ability to think strategically.

Why is this important? Because just like any other aspect of business, when people and skills are best utilized, the business will thrive. When not used well, or when the right skills are not present, the business will struggle. If you get this right, management becomes more focused and your efforts pay off.

Here are some other reasons how strategic thinking can support your goals of being a better manager.

People need to understand their part in the bigger picture

Engineers and other technically skilled people know how this works. This is because they are analytical thinkers who are project-oriented. Use this to become a more strategic thinking manager. Include your team in strategic planning and innovation – so they are part of the overall development of the business.

Anticipate industry changes and opportunities

As a leader, it’s up to you to always stay one step ahead of the game. This means being involved with industry groups and networking with those who are decision makers to anticipate the future. You may want to consider bringing some people on to your team who are well-connected too.

Staff for upcoming skill needs, not just present projects

Your people are the most critical aspects of business success, therefore as part of your thinking ahead approach you will also want to evaluate skills, training, and experience on your team. Fill in gaps with temporary engineering or technical support, from contractors and temporary employees. This can also work well for seasonal peaks in projects and future needs.

Be strategic with all managerial communications

Being a manager often means having tough conversations with executives and with team members. Use strategy in all your communications, both written and verbal. Speak clearly on topics that pertain to subordinates, be open to questions, and maintain focus on the goals of the company.

Make solid management decisions based on learning

As a manager, your best way of remaining strategic is to embrace the decisions you must make. To do this well, you should always be learning new things. Take advantage of manager training and networking to locate mentors in your field. Base decisions on sound business practices developed out of this knowledge.

How to Prepare Your Staff for New Temporary Engineering Hires

May 7th, 2015

Companies of all sizes require varying staffing needs at different times of the year. Whether the need for temporary employees is due to an increase in client work or because of a busy season, companies will need to prepare their full-time staff for the temporary hires. Here, we will discuss how you can effectively prepare your staff for new temporary engineering hires so the full-time employees are not worried about their jobs.

Reassure Staff Members They are Safe

One of the first things you must do is reassure the existing members of your engineering team that their jobs are safe and secure. Talk to your staff and disclose information about the temporary workers so the staff knows what to expect. Make sure the staff knows and understands what roles the temporary engineering workers will be and how long they will be on the job. Also, make it known that the regular staff will still be expected to contribute to the company and will not be losing their jobs when the temporary staff arrives.

Explain Goals Temporary Engineering Hires Will Meet

The next thing you need to do is explain the goals of temporary engineering hires to your current staff. Let them know why they are being brought into the company, for how long and what they will be asked to accomplish. If the engineering hires are being brought in to work on an existing project, let the employees know who already work on the project so they can prepare to have help. If they are coming in to work on a new project, make sure staff members know that as well.

Define the Roles of the Temporary Engineering Hires

You also need to define the roles that the temporary engineering hires will have once at your company. The roles should be defined to both the temporary engineering hires and the current employees of your company. Both sets of employees need to know where the temporary hires will fit within the hierarchy of the organization and to whom they will report once on the job. This will make any issues about where to report and who has power easy to handle when they arise.

Talk About Advantages of Temporary Engineering Hires

Another good idea is to talk about the advantages of hiring temporary engineering employees with your current staff members. Let them know that they will no longer have to work overtime to complete projects and will be able to have a better work-life balance. Also mention that the additional help will reduce stress levels of overwhelmed employees.

Whenever your company plans to hire temporary engineering workers, the current staff should be prepared so they know what to expect. It will make the transition for everyone easy and hopefully seamless. The team at Venteon Technical Staffing can help your company with this effort with ongoing education and temporary engineering support.