3 Reasons Your Finance Hiring Process Fails

As tenured finance and accounting recruiters in Toronto, we are often called to the table when a hiring process has been unsuccessful.

Interestingly, there seem to be three underlying reasons that cause ineffective results. While there are certainly challenges to hiring accountants, here are three things you want to avoid in your hiring processes.

Unfair Expectations

In most organizations, the finance and accounting department represents only a small portion of its staffing needs. Internal recruitment teams, already stretched to the limit, are asked to deliver quality, specialized talent, without sufficient resources, or training. More than likely, they don’t have the time to develop the type of network needed to land the talent requested of them. Do they still find quality talent? Absolutely. Is it an unrealistic expectation for them to consistently access specialized candidates? Yes.

Online Limitations

When it comes to hiring accountants, online application tools are not reliable. They miss qualified people (darn keywords), or inundate you with unqualified candidates. Either way, it can cost you time as you look for a better hire.

Inconsistent Interviewing Processes

Not having standard processes or metrics for interviewing is another hindrance. One of the top ways to improve your hiring process is to utilize a scorecard. Scorecards allow you to objectively compare candidates across a variety of factors. Connect with the key decision-makers, get feedback on what is most important to the role and create your list. While this doesn’t remove bias from the process, it certainly injects a greater level of consistency and objectivity.

There’s no doubt about it, hiring accountants comes with specific challenges. But by developing a scorecard, understanding the challenges for internal recruitment and seeing the limitations of online application tools, you can refine your approach and end up with more successful outcomes.