The Biggest Financial Hiring Blunders to Avoid

We all make mistakes. It’s a part of the learning process, and a key facet of the human experience. When it comes to financial hiring, however, we would ideally make very few errors in judgment. Here are three financial hiring blunders to avoid.

Mistakes cost us time and cost our company money. In a perfect world, we would hire the right person for the right position, foster their skill set, facilitate their growth and end up with a loyal employee who drives value. If that all sounds good, then there are definitely 3 key things we need to avoid doing.

Financial Hiring Blunder #1 – The Gut
In many Hollywood blockbusters the hero/heroine trusts their gut, saving the day in the process. As much as we love the idea of using “the force” when we’re conducting interviews, it can be a mistake that leads us in the wrong direction. Let’s face it, we all want to work with people we like, but putting too much weight on likability can end up shifting the focus away from the actual requirements of the job. The better approach: create a requirement scorecard in advance that allows you to compare candidates across a number of factors. This keeps the financial hiring process more objective and enables the team to focus on quality.

Financial Hiring Blunder #2 – You Can’t Always Get What You Want
In the 21st century we would like to believe that we can have it all, and maybe we can, but not when it comes to financial hiring. Placing too much emphasis on looking for EVERYTHING on your checklist (i.e. every single technical skill) can lead to frustration and disappointment. Fundamentally, people are not a checklist. They are a sum of their personal and professional experiences and they bring differing skill sets and working styles to the table. Instead, understand what the key requirements are and where you will compromise. This streamlines the hiring process by drilling down into what really matters.

Financial Hiring Blunder #3 – Going It Alone
One mistake to avoid is choosing to walk the financial hiring road alone. Firstly, this limits buy-in from the key stakeholders, including your boss, potentially costing you the hire you want in the 11th hour. Secondly, having input early in the process allows a workable list of “must have” requirements to be developed. Consider having the candidate meet more people internally to create buy-in. As well, have a consensus meeting where stakeholders who are most impacted by the hiring decision can connect and discuss their preferences. The result: a more efficient hiring process, where multiple people share the responsibility and the investment in the candidate.

Ultimately, when it comes to financial hiring we want to ensure that we make an analytical choice, founded on an objective comparison of key requirements. We want to take a little bit of time to get buy-in from the stakeholders who matter and we need to recognize we don’t have to carry the hiring burden alone. At the end of the day, while avoiding the three hiring blunders above does not guarantee a quality hire, it certainly helps in the process of bringing on board someone who will help the company achieve success.

Let us know what you think! At Clarity Recruitment, we’re always interested in hearing from accounting and finance professionals like yourselves, who are ready for new, exciting opportunities that can take their careers to the next level. And be sure to follow us on Twitter (@clarityrecruits) and connect with us on Facebook for more great tips and advice!