2 Parts Advertisement Done With Log For The Financial Review In Sydney And A Case Study Report
Executive assistants mingle about office duties like typing, scheduling meetings, and taking calls. Their duties require specialized training as their roles are becoming more sophisticated. This field is expected to grow at a rate of 13% in the next ten years, and more jobs will be found in construction, healthcare, and educational institutes. From the BLS reports, the median annual earnings for executive assistants were $43520 as of May 2010. Most employers were colleges, universities, and other academic institutions, with average earnings of $44680.
To become an executive assistant, one must have educational credentials to succeed in the dynamic business market. Some common courses include typing, computer applications, business law, records and information management, office administration, and business communication.
Table of Contents
2 Parts Advertisement Done With Log For The Financial Review In Sydney And A Case Study Report 1
Critical Skills of Senior Executive Assistants. 2
Benefits, salary, and salary packaging options. 5
Introduction
An executive assistant plays a crucial role in an organisation. In the ever-changing business environment, the executive assistant’s job is to assist the key decision-maker to stay focused, effective, and a better leader. The key skills of this position are excellent communication, creativity, and the ability to work independently (Yukl, 1998; Zeng, 2011, pp 2 –93; Priem, 1994, pp 421–437).
Given that the tasks involve being in charge of managing most of the support activities within the administrative sector, that is, ascertaining that the ideal operations of the senior management team carry out all the goals of the organisation. Normally this job entails being an office manager or working as a secretary to the managers of a company. Hancock Pty Ltd is a small firm wishing to recruit an office manager, this position has three direct report; the receptionist and two administrative staff (Scarborough, & Zimmerer,2006; Shimek & Wen,2008).
Critical Skills of Senior Executive Assistants
In the ever-changing office environment, the critical skill required of an effective senior executive assistant is communication. How the incumbent interacts with peers and other decision-makers is paramount to exchanging ideas across the organisation. Other vital skills are interpersonal effectiveness, project management, financial planning, and effective writing skills (Torrington & Hall, 2004, pp. 205; Drew, 2007, pp359-369).
Writing Skills for an office manager
Effective writing skills are essential for an office manager to put the right words on paper quickly. Therefore, they must communicate more clearly, concisely, and persuasively. Words matter, and an effective office assistant must learn, develop, and enhance how to use them. The key areas that require the effective principles of writing: are successful correspondence, message shaping, writing to the point, avoiding writing traps, diplomacy and politics, refining the writing, and managing minutes in a meeting (Eije ,2006; Eisenhardt,1989, pp 57-7; Fan, Wong, & Zhang,2007, pp 330-357).
Communication Skills
An outstanding executive assistant should possess soft skills, and abilities to maximize appropriate communication skills for personal and professional potential. The positive traits needed include; self-awareness, personal openness, conflict handling, frustration and stress control, assertiveness, and making commitments to development. Appropriate communication skills are key to developing a positive image, giving and receiving feedback, and presenting ideas confidently and clearly. Commitment to personal development is related to making choices and managing personal change, building self-esteem and emotional intelligence, developing networks, having creative visioning abilities, and being results-oriented. Being assertive implies understanding both external and internal sources of conflict, the ability to gauge the expectations of others, developing self-confidence, and having behaviours and words that count.
Project Management Skills
Project Management skills are a must for executive assistants, they must have the ability and structure to manage short-term and long-term projects.
The incumbent should act as a central partner interacting with all the departments and checking budgets and schedules. They should be aware of factors that affect projects’ success or failure, develop and implement classic ways of managing them, and understand customer needs for effective project initiation, planning, implementation, and control. The appropriate office manager should be able to deal with the unexpected and communicate the right things to the right people at the right time. They must also have excellent project-closing skills and must be able to appreciate the importance of communication within a project team. They must be confident and able to accept responsibility for new projects and identify and apply appropriate tools to manage the processes effectively. Hancock needs people who can stay in control of projects in dynamic business environments and deal with unexpected setbacks (Finkelstein &, Hambrick, 1989, 121-134).
Financial Skills
Basic financial skills are necessary for this position. Understanding figures that give information on the business is key to better supporting the manager with preparing reports and analyses. The executive assistant must be able to talk the language of finance and accounting, financial statements, financing international business, business plan preparation, and preparing meaningful budgets (Agrawal, & Knoeber, 1996, pp377-397; Alam, 2011).
The incumbent should understand how financial tools are applied in planning, measuring, and controlling an organization’s performance. They must possess a deep awareness of the economic environment and its impact on the company with sound abilities to spot facts and figures that might affect the business. Knowledge of the function and fundamentals of accounting is essential to constructing profit and loss accounts, balance sheets, statements of sources and uses of funds, and statements of retained earnings. Understanding the inter-relations between these statements is necessary to couple with the company’s annual financial report (Constantinides, Harris, &Ren´e 2010, pp 337–429; Andrews, 1987; Ariely, 2008).
Benefits, salary, and salary packaging options
Malmendier &Tate, (2005, pp 2661-2700) argues that salary options aim to provide employees access to fringe benefits, support in-house payroll staff, tax planning professional advice, and information regarding salary packaging to obtain the best results from remuneration. Salary packaging varies across agencies and is subject to frequent changes. Executive assistants’ tasks, roles, and duties will determine the salary range. Other factors that influence the wage are period, years of work, type of company, level of employee’s education, current economic conditions, and work experience.
The cost of employment benefits is up to a maximum amount equal to a fringe benefit tax-free cap of $17000 per annum for public benevolent institutions under Australian taxation law. This amount is based on the grossed-up taxable value of the benefits given. Therefore, the maximum dollar value of benefits that employees can package without creating a fringe benefits tax liability is $9094 per annum (Audia, Locke, & Smith, 2000; pp 837–853; Gilovich, Griffin, &Kahneman, 2002; Gomez-Mejia, Nuñez-Nickel, &Gutierrez, 2001, pp 81–95; Hackbarth, 2008, pp 843-881)
Salary Trends
According to National Salary Data, in the USA, the salary ranges from $31710 to $67605 per annum, according to March 2012 data. Bonuses range from $194.95 to $7366 per annum. While profit sharing ranges from $507 to $6748 per annum. This makes the total pay range from $30151 to $68963 per annum. However, these values will vary depending on the factors named above. Senior Executive assistants’ salaries range between $36220 to $78936. Executive Assistants to the CEO range between 31507 and $75228. Executive Secretaries or Administrative Assistants earn between $23498 and $53995. Gender also seems to affect the salary level, with females earning more than males. The more educated one is, the more the earnings and vice versa, and the pay is commensurate with years of experience (Haleblian & Finkelstein, 1993, pp 844-863; Lin, Hu, & Chen, 2008, pp160-181)
Conclusion
Executive assistant duties and roles lie between business executives and clerical employees. As automation is picking up in offices, more jobs become complicated and varied. Organization and flexibility with multitasking abilities will see the job description evolving to take up some of the roles handled by executives.
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