These past few years with COVID have created many areas of uncertainty for our economy, but one thing is for certain: the Accounting & Finance job market is booming and is heavily candidate driven. In a recent survey by CNBC’s Global CFO Council, 95% of CFOs of large cap companies said it was difficult to find workers to fill vacant positions. As an executive recruiter in this space, I can confidently say this applies to companies across the size spectrum.
So, as a prospective hiring manager, knowing the market for candidates is extremely tight, how can you create an interview process that fosters the best chance of success? Here are some tips:
SPEED IS KEY
Ever heard the phrase “Time kills all deals”? It is true, especially in a market like this. You need an interview process that will allow you to move quickly from resume review, to initial conversation, to offer. If there needs to be multiple people involved in the decision-making process that is fine, although I would argue too many cooks in the kitchen will slow things down to your detriment, but make sure you can schedule those multiple decision-makers either on the same day or in quick succession. Utilize the tools at your disposal – if scheduling in person is difficult could you do a video call instead?
ENGAGE THE CANDIDATE
Don’t leave your candidate hanging, wondering what is going on. Make sure they know what the process will look like, and provide them regular updates on the status of the search post interview. Work with your recruitment partner to keep them informed. You could also strategize on a direct reach out: a simple email expressing your continued interest in their candidacy. If the start date is going to be extended, why not take them for lunch in the meantime to keep them engaged? Even after they have signed the offer, you can bet they are still receiving constant reach out from other interested parties and this helps to maintain their enthusiasm for the opportunity.
are you selling?
Are you prepared to sell the company and the opportunity in an interview? Why should someone take this opportunity versus the one at your competitor? Does your company have a negative reputation in the market and are you prepared to address it in the meeting? (You can ask your recruitment partner if they have heard anything). Make sure you are able to sell the company and the opportunity to give you the best chance of landing the candidate, once you have secured the interview.
“Failing to prepare is preparing to fail”
Candidates spend lots of time preparing for the interview with you – are you doing the same? Have you read their resume in detail so you can ask specific, personalized questions? Have you researched them on social media to get additional information? Your recruitment partner knows the candidate, their motivations and goals, so work with them to formulate some clear selling points to attract the candidate. These selling points should be tailored for each candidate depending on their “hot buttons”.
The market today is highly candidate driven, and your success in hiring can be improved by making sure you are prepared and have a buttoned up interview process. For more tips and guidance, please reach out to any of our Founding Partners at Ascension Search Partners to discuss.
About Ascension Search Partners
Boasting more than 50 years of combined recruitment experience, we know what it takes to deliver the right talent. Ascension Search Partners was founded on the belief that talent acquisition is a true business partnership, and we believe search partners should offer extensive market and functional knowledge, with an in-depth, consultative approach.
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These past few years with COVID have created many areas of uncertainty for our economy, but one thing is for certain: the Accounting & Finance job market is booming and is heavily candidate driven. In a recent survey by CNBC’s Global CFO Council, 95% of CFOs of large cap companies said it was difficult to find workers to fill vacant positions. As an executive recruiter in this space, I can confidently say this applies to companies across the size spectrum.
So, as a prospective hiring manager, knowing the market for candidates is extremely tight, how can you create an interview process that fosters the best chance of success? Here are some tips:
Speed is Key
Ever heard the phrase “Time kills all deals”? It is true, especially in a market like this. You need an interview process that will allow you to move quickly from resume review, to initial conversation, to offer. If there needs to be multiple people involved in the decision-making process that is fine, although I would argue too many cooks in the kitchen will slow things down to your detriment, but make sure you can schedule those multiple decision-makers either on the same day or in quick succession. Utilize the tools at your disposal – if scheduling in person is difficult could you do a video call instead?
Engage the Candidate
Don’t leave your candidate hanging, wondering what is going on. Make sure they know what the process will look like, and provide them regular updates on the status of the search post interview. Work with your recruitment partner to keep them informed. You could also strategize on a direct reach out: a simple email expressing your continued interest in their candidacy. If the start date is going to be extended, why not take them for lunch in the meantime to keep them engaged? Even after they have signed the offer, you can bet they are still receiving constant reach out from other interested parties and this helps to maintain their enthusiasm for the opportunity.
Are you selling?
Are you prepared to sell the company and the opportunity in an interview? Why should someone take this opportunity versus the one at your competitor? Does your company have a negative reputation in the market and are you prepared to address it in the meeting? (You can ask your recruitment partner if they have heard anything). Make sure you are able to sell the company and the opportunity to give you the best chance of landing the candidate, once you have secured the interview.
“Failing to prepare is preparing to fail”
Candidates spend lots of time preparing for the interview with you – are you doing the same? Have you read their resume in detail so you can ask specific, personalized questions? Have you researched them on social media to get additional information? Your recruitment partner knows the candidate, their motivations and goals, so work with them to formulate some clear selling points to attract the candidate. These selling points should be tailored for each candidate depending on their “hot buttons”.
The market today is highly candidate driven, and your success in hiring can be improved by making sure you are prepared and have a buttoned up interview process. For more tips and guidance, please reach out to any of our Founding Partners at Ascension Search Partners to discuss.