No one wants to get fired, but it happens, and for a variety of reasons. In an era where almost any professional is replaceable and can be replaced at a moment’s notice, finance and accounting professionals need to be on top of their game. With the marketplace becoming increasingly competitive, it’s important to be aware of the reasons why people get fired, especially within the finance industry.
The following outlines some common reasons why people get fired in today’s marketplace, and more importantly, the top reasons financial professionals get fired:
Typical Reasons People Get Fired
We all know about the typical reasons people get fired:
- Failing to meet performance standards
- Not fitting in with company culture
- Sharing confidential organizational information
- Conducting personal matters on company time
- Being late on a consistent basis
- Being the office gossip and talking too much
- Lying on your job application
- Poor hygiene and not meeting dress code requirements
More commonly today, people are also getting fired for complaining or making inappropriate comments on social media. This is a no-no, regardless of your job.
It’s safe to say, if you are guilty of any of the above, you put yourself at risk of being fired from any job. However, there are some finance and accounting industry specific reasons you could be putting your position at risk.
Top 5 Reasons Financial Professionals Get Fired
1. You are always behind: Companies rely on finance and accounting professionals to have up-to-date data so they can make strategic decisions using the most relevant and timely information.
2. You exposed your company to a potential data breach: A company’s financial information cannot be compromised. If you expose it to a potential breach, you risk being hacked, having company financials made public, and losing your competitive edge over competitors.
3. You lack forecasting and business skills: Being good with the numbers is only part of your job. Increasingly, financial professionals also need to have the skills and abilities to interpret the numbers, consult organizational leaders, and provide insights into how to best leverage the company’s financial situation.
4. Poor communication and interpersonal skills: Fitting within the organizational culture is very important. You need to have the interpersonal and communication skills to become a valued member of the team.
5. You break the law: As a financial professional, you are bound to a number of governmental regulations and laws when managing your company’s financial data and information. If you break the law and get your company in trouble with the government, the odds are you will be shown the door.
Whether you are a financial professional looking to take the next step in your career or an organization seeking to hire top talent, ourFinancial Services & Insurance Recruiters in Toronto can help. Learn more about how we work and contact us to learn more.
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