The Ultimate Guide on Recruiting Finance Professionals
Some research found that 76% of accounting and finance professionals said their biggest recruiting challenge was a talent shortage.
If you’re a recruiter, hiring manager, or business owner who needs to recruit finance professionals, you might face some challenges.
However, recruiting strategies and solutions will help you overcome those challenges. Keep reading to learn about the secrets of recruiting finance professionals.
Each industry that a recruiter works in will have its challenges, but the finance industry poses its unique challenges. With one of the most complicated and changing industries, recruiters have their work cut out.
Technology is constantly changing, and more finance professionals are gaining niche skills to compete with the competition. Financial technology (fintech) is also one of the newest trends in finance, and this is a whole other niche that recruiters will need to be familiar with.
One of the top challenges that recruiters in the financial services industry have to work with is finding suitable candidates. There is a shortage of candidates who are qualified for specific financial jobs, and because of this, there is a competition for talent.
Some recruiters assume that hiring managers or senior management might want someone who can crunch numbers and do math, but there are a lot of specialized skills required for these jobs. In some niches, the skill set is even more critical, which is why there is a shortage of candidates in the
Since there is such a shortage, there’s also a lot of competition for these qualified candidates. Because of this, recruiters will need to find ways to source new candidates and have the skills to build a relationship with the candidate to compete with them.
Financial Recruiting Strategies
Now that you know some of the challenges of financial recruiting, you’ll need some strategies to make you successful.
Encourage Employee Referrals
To start with, encourage other financial employees to refer their friends or colleagues. This is a great, accessible, and easy way to source top finance talent. Referrals are also among the most reliable sources of talent.
When employees are understaffed, they’ll want to refer people who they would like to work with and think are reliable. In addition to that, the recruiter will also have a mutual connection, which makes it easier to reach out to those candidates and build a good relationship with them.
Focus on Employer Branding
Since the candidates have the upper hand in the financial job market, you’ll need to show them why they should choose to work at your company. This can help you find candidates who are the right fit, and it’s relatively easy to do.
To start, make sure all of your copy and images on your website show a diverse range of people working at your business. This should show that you have a diverse group of people and that you’re welcoming. You’ll also want people to easily be able to find what your goals, mission, and values are.
To get your employer’s name out there, participate in different events around the community. Sign up for volunteer events that allow you to network with the community.
The perks you offer to employees are also a part of your employer branding. You might want to offer unlimited PTO, excellent health care benefits, asynchronous remote work, flexible hours, and excellent company culture.
You’ll also want to manage your employer brand on sites like Glassdoor, where employees can review and rate what it’s like working at your company. If you have a low or negative rating there, many candidates won’t even apply.
Write Great Job Posts
A lot of employers will copy and paste job descriptions without tailoring them. Part of your recruiting efforts should include putting specific keywords and requirements in there so that job seekers can find them. First and foremost, these postings are job advertisements, and you need to market the company to the candidate.
For example, if you’re hiring financial analysts, you want to make sure you have a list of requirements that they need to have. However, avoid including a long laundry list of things that would be nice to have and focus on what’s necessary to do the job. If some candidates don’t meet every requirement on the job application, they won’t apply, and you could be missing out on some talented professionals.
When you finish writing your job post, you’ll need to decide where to post it. While LinkedIn is a good place to start, you’ll want to meet the finance professionals where they are. That includes sites like Recruiter.com’s finance career community.
In fact, 71% of financial and accounting professionals said they had found a job through these specialized job boards. This way, you can post jobs on a technical job board designed for the people you’re trying to find. When you tap into these niche boards, you’re more likely to have relevant candidates apply.
Find New Sources
In finance recruiting, you need to be creative with your sourcing areas. Posting on specialized job boards for financial professionals is a great place to start, but you can use many other strategies.
You can also attend recruiting events, job fairs, and college internship events. This can be a great way to get your business into the community and meet people who would be interested in an entry-level role. You can also use this as an opportunity to gather candidates in your talent pool for future hiring, like an executive search.
If you’re an internal recruiter, this may be the first financial opportunity you’ve had to recruit for. In that case, you may want to hire consulting firms or an external recruiter with specialized recruitment experience. You can rely on them to fill this position if you don’t have the resources or expertise to source them.
You may also want to use AI to help you with recruiting candidates. Since the financial sector is so competitive, AI can help you find candidates who might not fit the typical profile. For example, when using Recruiter.com’s AI sourcing software, you can search for candidates who might have relevant experience and could be a good fit. You can also find candidates who have financial expertise at specific companies.
Start Recruiting Finance Professionals Today
All of these challenges make it difficult to recruit finance professionals. But with these strategies, you can attract top talent and find people who would be great for financial services roles.
If you still need help with recruiting finance professionals, Recruiter.com has experience. We have a career community where you can reach out directly to finance professionals. We also have an extensive network of finance recruiters with specialized expertise, but we also have a powerful AI sourcing tool that will find you candidates for your most niche jobs.
If you’re interested in hearing more about the recruiting solutions that can improve your hiring process, contact us today.
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