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Hiring Newcomer Talent in the Finance Industry

From its birth, Canada has been a nation that represents opportunities for newcomers. More than 17 million immigrants have made their way to this country since Confederation in 1867, and newcomers continue to grow Canada’s population today. Canada’s workforce also continues to expand thanks to newcomers. With immigrants making up about one in five Canadians, that’s a huge pool of potential candidates with valuable foreign experience.

That being said, newcomers often find themselves facing barriers to employment. They may struggle with communication, they may not be familiar with the Canadian job search process, or the experience they gained in their home country isn’t recognized by employers here in Canada. Newcomers may also find it hard to express their skill set and qualifications in ways that meet Canadian expectations. This can result in their applications being overlooked and a lack of interview opportunities being granted to them. In turn, companies may be losing out on highly skilled, hard-working individuals that could be real assets in the long run.

Keeping an open mind and knowing how to approach the hiring process when it comes to newcomer candidates can allow companies to tap into this growing talent pool with great success.

Why Hire Newcomers?

These candidates offer many benefits to potential employers, including:

A Fresh Perspective – Newcomer candidates’ international experience and diverse skill set can bring new information, strategies, and insight to freshen up “the way things have always been done”. Their international experience and foreign language skills can also help companies expand into new markets.
A Can-Do Attitude – Newcomer candidates who have gained a Canadian work permit have already shown their perseverance by taking the time, effort, and financial costs to do so. This can translate into a go-getter spirit in the workplace that drives projects forward while efficiently navigating obstacles.
A Connection – As mentioned earlier, around 20% of Canadians are immigrants (and in a city like Toronto, it’s more like 50%). Hiring newcomers provides an opportunity for companies to connect with these wider audiences, and enhance their corporate image by showcasing diversity.

How Can I Hire Newcomers?

When reviewing applications from newcomer candidates, it’s important to think outside the box. These candidates may express their skill set and qualifications in unfamiliar ways, so knowing what to look for and what questions to ask is key to determining whether they’re a good fit for a role.

Some best practices when it comes to assessing these candidates include:

Be Aware of Laws and Policies – Understand what questions can be asked of candidates and what questions should be avoided, based on information in the Canadian Human Rights Act, provincial legislation, and policies such as Ontario’s Policy on Removing the “Canadian Experience” Barrier.
Do Things Differently – Rather than expect all candidates to move through the hiring process the same way, look for ways to individualize the experience. For newcomer candidates, try to rephrase interview questions to be as specific as possible. If English isn’t someone’s first language, a question like, “Can you tell me about yourself?” might result in the candidate sharing a personal story rather than the expected work-related information.
Make Connections – Work to interpret information the candidate provides in a way that makes sense within Canadian expectations. For example, if the candidate is describing one of his or her employers in their home country and you’re trying to understand what industry the company is part of, ask the candidate to compare that company to one found in Canada that may be similar in size and/or scope.
Assess Fairly – When reviewing applications from newcomer candidates, look for some of the same attributes you’d expect to find in any resume. Past successes, continued education, and progression within a company or to higher-level roles all speak to a candidate with great potential.
Consider Finance-Specific Training – Accounting and finance roles can have unique challenges when it comes to hiring newcomer candidates. It is crucial to understand the difference between a candidate’s experience with GAAP (Generally Accepted Accounting Principles) in their home country and how that compares with IFRS (International Financial Reporting Standards). It may be that the candidate will need to upgrade their education to suit specific roles.

Hiring managers who are interested in finding newcomer talent should work with recruitment firms like Clarity Recruitment to help them understand what to look for and how to adapt their hiring practices appropriately to ensure all candidates have a fair shot.

Your Next Step

No one should walk the job search or hiring road alone. At Clarity Recruitment we help others realize their success through a process that marries proprietary technology with unwavering commitment. Contact us today to take control of your career, or to partner with us to hire well.

Clarity Recruitment, connecting exceptional people with remarkable companies.

by Clarity Recruitment

Attracting and Retaining Millennial Employees in the Finance and Accounting Industry

As more and more millennials enter the workforce, companies are learning that this group has expectations and needs that are far different from those of previous generations. Efforts to attract and retain talented millennial employees have meant that corporate culture in the finance and accounting industry has shifted into more of an employee-focused arena, and any employer that continues along at the same old pace might find themselves struggling to get the attention of the millennial talent pool. So, what are some of the best ways to ensure organizations successfully find and keep millennial employees?

Opportunities for Development

Millennials are often accused of not wanting to work their way up in a company, but that’s not necessarily the case. It’s more so that the amount of time they are willing to spend in any one position or level is often less compared to employees from past generations. Millennials look for professional development opportunities to keep up with fast-paced changes in technology and industry standards, and they value employers that are willing to help pay for these opportunities.

Companies that have clear, structured professional development programs (that include covering the cost of part or all of an employee’s continued education) are seen as more progressive in the eyes of millennial workers. This can be a huge competitive advantage when hiring. Just be aware that with additional education, millennials will expect their compensation to reflect their continued growth.

Read: “What Millennials Want from an Accounting Job” for tips on giving millennials what they’re looking for.

Feedback and Mentorship

Mentorship is also hugely important to millennials, especially as they work their way towards leadership roles. Millennials tend to have loyalty more towards their managers than towards the company itself, so developing a strong relationship between leaders and millennial employees is key to retaining this new generation of workers.

Rather than micromanaging/directive leadership, millennials prefer a more collaborative approach with plenty of one-on-one meetings that involve open discussions and feedback. Giving millennial employees room to figure out how they would like to complete a task and helping them understand how their work fits into the bigger picture are two great ways to make them feel involved and valued.

Read: “Why Millennials Quit Their Finance or Accounting Job” for more insight into how to retain millennial workers.

Work/Life Balance

Aside from financial compensation, work/life balance is the next most important factor in what makes a millennial employee accept and stay in a job, according to a 2016 survey conducted by Deloitte. Flexibility is attractive to the millennial talent pool, whether it be in work hours, role responsibilities, contracts, or work location. Companies that offer work arrangements that better fit into an employee’s personal situation and preferences are more likely to attract and retain high-talent millennials.

Finding ways to allow employees to have flexible start times, to work remotely from their home office, or to change role focus every so often will help your company present a progressive, employee-focused culture that many millennials will take notice of. As shared in the Deloitte study mentioned above, millennial employees surveyed who were working in high-flexibility companies were twice as likely as those working in low-flexibility environments were to say that flexibility has a “positive impact on organizational performance and personal well-being”.

Reflection of Values

Personal values hold great meaning to millennials, even in a work setting. The Deloitte survey found that “61% of senior millennials (those with higher ranking job titles) chose not to undertake a task at work because it conflicted with their values”. Working to understand what drives millennials and what values they incorporate into their daily lives is important in determining how to keep them engaged and satisfied in the work they’re doing.

If they are able to feel that the work they’re doing is for the greater good, is fair, and is meaningful, millennials will be much more motivated to perform their best. Companies should consider how the corporate goals established by the organization match up with the values their millennial employees hold as important. Things like sustainability, integrity, community contribution, and customer care are all areas that could be reviewed.

Key Takeaways

The changing face of the workforce means that companies need to make changes to adapt in order to stay competitive in the millennial hiring game. Creating a more employee-focused environment, with professional development opportunities, mentorship and feedback offerings, and greater flexibility when it comes to work hours and location, can help an organization attract millennial talent and encourage it to stay. Learning more about the values millennials hold can also help a company align its operations with things that will motivate and inspire the newer generation of employees.

Your Next Step

Clarity Recruitment, connecting exceptional people with remarkable companies.

by Clarity Recruitment

What Ontario’s Proposed Pay Transparency Bill Could Mean for Recruiters

A recent proposed bill in Ontario aimed at closing the gender wage gap and bringing more transparency into the realm of salaries and wages could change the way recruiters work in the near future. The legislation, called Then Now Next: Ontario's Strategy for Women's Economic Empowerment, or more formally, Bill 203, Pay Transparency Act, 2018, was introduced by Liberal Premier Kathleen Wynne last month.

What does the bill include?

The focus of the bill is on pay transparency, and it would include a number of changes if passed, including:

Requiring publicly posted job ads to include a salary rate or range
Prohibiting employers or recruiters from asking about a candidate’s past salary or wage
Preventing punishment for employees who discuss or ask about compensation
Requiring large companies to track and report back to the province on wage gaps based on gender, as well as other diversity factors
Allowing compliance officers to conduct workplace audits
Fining companies who do not comply with the Act

The changes would first affect Ontario public service employers before then being rolled out to companies with more than 500 employees. Later, it would extend to companies with more than 250 employees.

Where are bills similar to this being passed?

The bill was based on similar legislation from countries such as Australia, Germany, and the U.K. The U.S. has also seen a number of state bills passed in the last several years that advocate for pay transparency and the elimination of wage gaps based on gender and race. States including California, New York, Oregon, Minnesota, and Michigan have added their own state laws dealing with pay transparency and equal pay, which provide additional protection alongside federal legislation implemented during President Obama’s time in the White House.

The proposed bill in Ontario is expected to be passed in May, and would come into effect in January 2019. It would be the first provincial legislation of its kind in Canada.

How will this affect candidates?

One of the major issues the bill is meant to address is the cycle of low wages that certain groups tend to get caught in, usually women and minorities. Employers and recruiters will often base their salary offer on what a potential employee was paid before, so there is a never-ending pay rate loop that these groups cannot escape, regardless of how much experience they gain or how much their skillset grows.

Knowing what the job pays upfront allows candidates to determine whether they are interested in the position in the first place and whether they feel they would be fairly compensated for their skills and expertise. Not having to disclose previous compensation to an employer or recruiter means candidates can potentially move up the pay scale; something that in the past might have been impossible.

Transparency when it comes to salaries and wages can also provide candidates with some reassurance that the employer is being fair and honest with its employees. This can make a company a more desirable place to work. It allows potential candidates to feel free from discriminatory practices and gives them a positive experience right from the beginning.

How will this affect recruiters?

Even if the bill isn’t passed, changes in the way we communicate about work and compensation are starting to force employers and recruiters to think more about pay transparency. Social media is a common place for employees to discuss work-related issues and concerns, and sites like PayScale and Glassdoor make company and salary information readily available to anyone.

Those who say the bill will negatively affect the process see such legislation as the government meddling in a system that is already working well for recruiters. Having access to information about a candidate’s past employment, including how much their previous or current employer was/is paying them, provides important details on which to base a job offer. Without that information, there is concern that the salary offered could be more than what a potential candidate’s skillset and experience would warrant.

There is also the issue of scaring away potential candidates with a posted salary that they think is too low. Some recruiters make the case that there are sometimes exceptions to a base salary or set range, such as when a candidate has a unique work background or exceptional skills that would prove more valuable to the company than what the average applicant could bring to the table.

On the flip side of this, some recruiters will see the pay transparency changes as a good thing. Clearly stating the expected salary or salary range should attract the right candidates for the position and required experience level. This could make conversations about compensation easier during the recruitment process.

Although recruiters would no longer be able to ask specifically about a candidate’s previous compensation, changing the discussion slightly to ask about what they are expecting salary-wise would be perfectly acceptable under the proposed legislation. Using such information, combined with industry-standard salary data, would help recruiters understand where a candidate feels their compensation level should be in comparison to the reality of their particular field of employment.

Key Takeaways

While the proposed transparency bill still needs to be passed, changes in how people discuss and share information about employers and compensation mean that pay transparency is becoming more of a social expectation, even if it isn’t legally implemented in all provinces just yet. Many other countries have passed laws to help create a work culture of transparency, and similar laws passed here would break certain groups out of a frustrating trend of being underpaid. While recruiters would need to look for new ways to have discussions with candidates about salary, there is plenty of data available to determine what candidates should expect to be paid. Starting to think about how pay transparency will alter the recruitment industry and making some initial changes even before legislation is passed can put recruiters ahead of the game and prepare them for the future of the industry.

by Clarity Recruitment

Finance hiring tips focused on settling the debate between internal versus external approaches.

Finance Hiring Tips: Internal versus External

There is a vacancy on your team, or soon to be. Colleagues assure you that an internal hiring process could be successful, but you’re not sure. Even though the requisition is approved and you have knowledge of market conditions and salary expectations, you think an internal process may not get you the results you need. The question is – which direction to go? Do you handle the process in-house, or do you bring in a recruiting agency?

Step 1 – Determine How Specialized the Role Is
If the role is fairly generic then you may have an opportunity to recruit from your team (think succession planning), or run an external recruitment process on your own. If you decide to recruit from within, evaluate the following:

Is there an in-house talent person to support you? Does he or she understand market conditions, salary expectations and how to attract and land talent?
If not, are you comfortable moving forward? This may be the time to look at recruitment agencies to help you fill the role.
If you are comfortable, do you have a formal process for letting people know that the position is available?

Once you’ve marketed the role internally, determine if the people that are interested are suitable. If not, it will be time to conduct an external search.

Read “Need Help Hiring? How to Identify a Good Recruiter” for tips on spotting the kind of recruitment agency that will help you hire well.

Step 2: Determine the Urgency of the Role
The next step is to determine the level of urgency. Ask these 3 questions:

How many vacancies do we currently have?
What critical and time sensitive deliverables will fail without this new hire?
What is the internal recruitment team’s (if you have one) time to fill? This is the number of days that it takes a recruitment team to successfully fill a job in finance and accounting.

If you have time to run an internal process then you do not need to call your recruitment agency partners.

Step 2 – Evaluate Team Impact
Remember, quitting is contagious and the last thing that you want is to compromise the function of your remaining team members. If someone leaves, and you don’t support the remaining players, then you may have more than one vacancy to fill. Ask yourself if the vacancy will place significant stress on your existing team. If so, can the stress be mitigated without a hire? In other words, can duties be shared among remaining team members without overburdening them and negatively impacting morale and performance? If the stress cannot be mitigated, will there be additional resignations as a result?

Step 3 – Determine Organizational Capability
If you think that leaving the vacancy open negatively impacts your team, determine if your organization has the capability to hire. Are there sufficient resources, networks and time to effectively source potential candidates? Are they able to hire in a relevant timeframe (time to fill in days is a good metric)? If so, an internal solution makes sense. If not, a recruitment agency, with its tenured staff and access to both passive and active job seekers, may be the answer.

this short video to find out if what happens in Vegas actually stays in Vegas (and sabotages your hiring approach in the process).

Step 4 – Educate Yourself about Recruitment Agencies
Not all recruitment agencies are created equally. Look for the following:

Guarantee – Any firm that believes in its process should stand behind it with a quality guarantee.
A learning culture – Does the firm invest in its people and demonstrate a willingness to teach you and learn from you as well?
Technology that makes a difference – Look for organizations that have differentiators such as proprietary technology that increases hiring success rates.
Responsiveness – Your recruiter should be highly responsive. They should quickly arrange for a face-to-face, and sit down with you to understand your role and company needs.
Resource – A good recruitment agency is a hiring partner and a resource. Can they provide input into org design and supply you with data about each position’s key attributes including salary, academic pedigree, marketability etc. More importantly, are they arriving at their opinions using a data-driven methodology instead of an opinion.
Timelines – The recruiting firm should commit to specific timelines. For example, they should be able to tell you when a short list will be ready for review.
Specialists – Try to hire a recruitment firm that specializes in the accounting and finance space. They’ll have access to a larger pool of quality candidates.

Want more guidance? Read “5 Things to Think About Before You Hire a Finance Recruiter.”

Key Takeaways
The debate between pursuing an internal hiring solution, or bringing in outside help continues to occupy those involved in the hiring process. If the role is particularly specialized, and the organization lacks the resources to hire in a reasonable timeframe, a recruitment firm can be a valuable resource. If, however, the organization has the time, network and resources to hire well, then an internal approach can be successful.

Carefully evaluate the impact that the vacancy will have on your remaining team members. If you risk additional resignations, or burning out your team and you cannot envision hiring for a specialized role in tight timelines, it makes sense to look at a recruitment firm. At the end of the day, you want to leave your team in the best possible position and that motivation should be the driver behind the decision-making.

Your Next Step
No one should walk the job search or hiring road alone. At Clarity Recruitment we help others realize their success through a process that marries proprietary technology with unwavering commitment. Contact us today to take control of your career, or to partner with us to hire well.

Clarity Recruitment, connecting exceptional people with remarkable companies.

by Clarity Recruitment

How to turn down accounting and finance candidates.

How to Turn Down Finance or Accounting Candidates the Right Way

To create a positive candidate experience and foster a healthy talent pipeline it’s important to reject finance or accounting job candidates with grace and class. After all, while a certain individual may not be a fit for a specific role, there’s no telling when you’ll have to hire an additional resource. Show your prospective employees that they have value even before they join the fold. Doing so, can pay dividends down the road.

Why It Matters
A candidate who has a positive experience with your talent pipeline will likely:

Recommend your organization to friends/colleagues (as a place to work)
Consider a job offer from you in the future
Become a customer or promoter of your brand

And with the powerful reach of social media to consider, turning candidates down the right way is even more important.

Watch: Are you sabotaging your hiring process by making this one critical mistake? Watch this short video to find out.

Quick Communication
Have you ever been left hanging, waiting for a reply or wondering if you got a role? Candidates value quick communication, so waiting weeks to send a rejection letter or email is not advisable. As soon as possible let the candidate know that they’re not a fit.

Pro Tip: It’s fine to use an email template, but adding a personal note to a rejection email improves your chances of leaving a good impression.

Reach Out by Phone
While you can’t personally call every rejected candidate, those who make it to the interview stage are definitely worth reaching out to. Remember, you’re going to need to hire again, and calling someone personally helps to build the relationship.

Direct Feedback
A candidate may ask why they did not get the role, or ask for feedback on their interview skills. If possible be honest. The candidate will remember that you took the time to try and help them.

Pro Tip: Use a scorecard during the interview that allows you to objectively compare candidates across a number of hard and soft skills. This will help you give specific feedback during any debriefing.

Transparency
Be transparent about your hiring process and timelines. Make sure that candidates who have reached the interview stage have your contact information. If your timeline changes, be sure to reach out and let them know.

Read: Are you concerned about how you hire? Here are 3 signs that your hiring process needs a makeover.

Ask for Feedback
Ask for feedback on your candidate experience. Let candidates know they can offer feedback anonymously if they prefer. If you see a negative trend in your candidate experience seek to correct it quickly.

Staying in Touch
Candidates who made a strong impression should be encouraged to stay in touch. Some options include:

Actively engaging with them on social media. Congratulate them on achievements, or “like” a post that they’ve shared.
If you’re hosting a career event with guest speakers reach out and invite them to attend
Occasionally send an email touching base about what’s happening at your organization to keep your firm front of mind – set up reminders in your Application Tracking System (if you use one)

Key Takeaways
Effective communication during the rejection process is critical in creating a positive candidate experience. Keep your hiring process transparent and don’t wait weeks to send a rejection letter/email. If the candidate asks for feedback, and it’s possible to be honest, let them know where the gaps were. Candidates appreciate advice, particularly if it’s genuine, and it will increase the likelihood of them being open to future opportunities with your organization. Continue to connect with those candidates who might be suitable for future opportunities and ask for feedback from all prospective employees so that you can re-work your rejection process if needed. Fundamentally, turning someone down for an accounting or finance role the right way is good for your brand, and will help you locate quality staff more quickly the next time you hire.

Clarity Recruitment, connecting exceptional people with remarkable companies.

by Clarity Recruitment

Accounting Interview Tips: Discuss These 5 Things with Candidates

A great interview process plays a critical role in landing top talent. In fact, candidates typically make up their mind about a role during the interview. So how do you ensure that your candidates have enough information to make a decision that lands them squarely with your company? The answer lies in discussing the following 5 things.

Path to Advancement
Make sure to outline the opportunities available for advancement. A good interview explores a candidate’s potential career trajectory. If your manager, for example, has a tendency to promote internally, make sure to mention that. Millennials, in particular, need to know how they’ll progress.

Culture
Candidates want to understand the kind of company culture they’re walking into. Explain how team members relate to each other and how that carries through into management style.

Resource: To evaluate whether or not a candidate would be a fit for your company’s culture, try asking these questions.

Pro Tip: Asking questions about which organizational values matter to your candidate will help you understand how to describe your culture to create maximum impact.

Mentoring Opportunities
Everyone can benefit from a mentor, regardless of level. One of the myths about millennials is that they don’t welcome feedback. In fact, millennials want a mentor and view it as an attractive part of a role. What are the mentoring opportunities that your company offers?

The Mission and Vision
Hiring managers and HR need to be able to clearly articulate the mission and vision of the organization and how that affects the company’s culture and way of doing business. Talent needs to understand how their role will connect to the larger goals of the organization.

The Benefits
Aside from advancement opportunities, how does the employee stand to benefit from the organization? Is there flexibility? Educational opportunities? Does the organization prioritize a learning culture where the opportunities for skill set growth are built into day-to-day work life? Be sure to discuss what sets your team and organization apart.

Key Takeaways
Top talent sees a finance or accounting interview as a two-way street. They are, in essence, evaluating you as much as you are assessing them. This means that discussing what makes your organization different is critical to landing great candidates. Explore educational and mentoring opportunities. Discuss the company’s vision and mission and how the candidate’s position connects to the larger goals of the organization. Be sure to outline the path to advancement. Ultimately, with the competition for great talent so fierce in the GTA, it pays to speak to the key areas that candidates want to hear about.

Clarity Recruitment, connecting exceptional people with remarkable companies.

by Clarity Recruitment

An infographic that explains how to write a great job posting.

How to Write an Award Winning Job Posting

The quality of your job posting greatly influences whether or not candidates apply. It also plays a large part in attracting the right kind of talent. This infographic displays the 6 key things that every award winning job posting needs.

An infographic of what it takes to write a great job posting.

Clarity Recruitment, connecting exceptional people with remarkable companies.

by Clarity Recruitment

Landing finance talent who have multiple job offers.

How to Land Finance Talent with Multiple Job Offers

In a candidate driven market, it’s safe to assume that the talent you’re trying to land is being chased by other organizations as well. So how do you make sure that you’re the company of choice?

Here’s how to close the candidate who could be a difference maker for your organization.

Do Your Research
Before you ever start actively recruiting, it’s important to do your research. Focus on understanding current market conditions. What’s reasonable compensation and what falls firmly in the “chasing a unicorn” category? Do you have the budget for a quality hire? The last thing you want to do is try and land an $85,000 candidate for $65,000. You may get them, but chances are they’ll be looking again 6 months down the road.

Define Needs
Landing great talent doesn’t start when you make them an offer. It begins when you first engage them. Show interest in their career aspirations and personal goals. Ask a lot of questions to help you understand what makes them tick.

First of all, this will give you a chance to determine if the candidate is a cultural fit. It will also enable you to make them a job offer that is tailored to their needs.

Streamline the Hiring Process
Interest has a shelf life. Streamline the hiring process as much as possible. If you interview the candidate by phone and they tick all the boxes, schedule a face-to-face as quickly as you can. Have key people that the hire will interact with at the interview. This will shorten the time to consensus.

Read “These Aren’t the Droids You’re Looking For – The Finance Hiring Process” to get valuable tips on creating a hiring process that attracts and lands top talent.

Stay Informed
Stay connected to the candidate. Follow up by phone. If the candidate lets you know that they are considering multiple offers, it’s not unreasonable to ask questions about them. Keep your tone respectful and understand that you’re simply gathering information at this stage to know how your offer measures up.

And As for the Offer…
If you want to make an effective offer of employment here are a few tips:

Alignment - Highlight the alignment between the position and the candidate’s goals
Culture – You’ve gone out of your way to understand the kind of culture your candidate wants. Outline how your company’s culture meets the candidate’s preference
Leadership – Is the candidate’s manager a leader in the industry? Known for their mentoring style? Does he or she help their team get promoted?
Compensation – Be comprehensive here.
Continuing Education – How does your organization invest in its employees? Great talent is typically committed to continuous improvement, so any in-house programs or funds provided by the company to build its employees’ skill set can go a long way to selling an organization.
Team – Is the team comprised of other top performers?
Feedback – Once you’ve presented the offer, ask for feedback from the candidate and address questions and concerns
Counter offer – Prepare the candidate for the possibility of a counter offer

The Timeline
If the candidate offers verbal acceptance, tell them that you’ll have the paperwork emailed or couriered to them quickly. Follow-up to ensure that they received the paperwork. Remind them that there is a date it must be signed and returned by. Keep the lines of communication open. You don’t want to lose your candidate in the 11^th hour.

Key Takeaways
Closing great talent who has multiple offers requires a streamlined process that has the candidate’s career goals at the forefront. Ask questions to understand what’s important to your candidate. Determine if there is alignment between the candidate’s preferred culture and the company’s mission and vision. Shorten the hiring process to maintain candidate interest and keep the lines of communication open especially after you’ve extended an offer.

Clarity Recruitment, connecting exceptional people with remarkable companies.

by Clarity Recruitment

Creating a positive candidate experience with your hiring process is important.

Why a Positive Candidate Experience Matters

How greatly does the candidate experience impact your hiring process?

Answer: substantially.

Poor job descriptions, unclear application processes or an inability to contact a recruiter or hiring manager, can significantly worsen the candidate’s view of an organization. If you want to attract and land great talent it’s important to create a positive candidate experience.

Top Causes of a Negative Experience
Software Advice, a company that reviews HR technology, surveyed 379 candidates who had applied to a full-time job in the previous year. They were asked about what factors in the hiring process would create a negative experience. Their responses were fairly decisive. Here are the top 10 reasons a candidate could have a poor experience:

Unclear application instructions
Overly long application process
Minimal information on the job posting
No link to the application
No confirmation email
Long hiring process
No notice when position was filled
No salary information
Unable to contact a recruiter
No information about the interview process

Candidates were asked to qualify each reason as either significantly worsening, somewhat worsening or not impacting their experience. As a point of interest, only 5% of candidates said that unclear application instructions did not impact their experience.

How to Improve the Experience
There are a number of ways to improve your hiring process. In the Software Advice survey, 72% of job seekers said that a clear hiring process timeline would be the number one way to improve the experience. Other improvements included notification if they were passed over (28%) and human contact after the application (14%). Interestingly, 64% said that a personalized email would go a long way to improving the experience. In fact, what becomes most obvious from the survey’s results, is that communication plays an integral role in creating a positive candidate experience.

Read “How Better Communication Can Improve Your Hiring Process” for more insight.

Further Recommendations
In a blog titled “These Aren’t the Droids You’re Looking For – The Finance Hiring Process” we explore how to fine tune the hiring process to ensure that you bring the right talent onboard.

Here are some tips that can greatly improve the candidate experience:

Write a job description that speaks to the kind of talent you’re trying to recruit
Outline both responsibilities and requirements, but also include notes on your company’s culture
Keep the hiring process streamlined - have meetings with key stakeholders in advance to discuss “nice to haves” and “must haves” so that people are on the same page and the hiring process is efficient
Create a scorecard that reflects your discussions with key stakeholders and ensure that everyone uses it in the interview – again this will create additional efficiency in your hiring process

Key Takeaways
A poor candidate experience impacts an organization’s ability to hire well. Keep application instructions clear and your hiring process efficient. Write thorough job descriptions that speak directly to the talent pool you’re trying to recruit. Communicate as effectively as you can about the hiring process timeline and where the candidate is in the chain. To bring the right talent onboard, it’s imperative that the candidate experience is as positive as possible.

Clarity Recruitment, connecting exceptional people with remarkable companies.

by Clarity Recruitment

There are 5 things to think about before hiring a finance recruiter.

5 Things to Think About Before You Hire a Finance Recruiter

You’ve decided to hire a recruiter who specializes in the finance and accounting space. That’s a good first step, as recruiters with specialized knowledge will have a deeper understanding of what’s needed to succeed in a given role. They’ll also have a broader base of finance and accounting candidates to choose from. This means that going the specialist route is a good start to finding a quality hire.

There are, however, a few more things to consider before you choose a finance recruiter.

Track Record
Most firms will tell you that they have a tenured team. But what does that actually mean? Look for a proven track record of hiring the kind of staff that you want. Ask the recruiter what industries they specialize in. Do they have expertise in media, tech or entertainment for example? Also inquire about the positions that they recently filled. Are they placing more junior staff, or do they typically help hire for senior management positions?

Differentiators
What is it about the recruiting firm’s process that differentiates it in the marketplace? If your recruiter can’t give you specific information about what makes their process unique, than it’s time to look in another direction. Do they have a proprietary technology or culture that adds true value to the hiring process? If so, then they should be able to list the benefits and advantages that such technology or culture offers.

Access
How much access can you give your recruiting firm? The best results often come when the recruiting company has access to the line manager, not just HR. Ultimately, you want to leverage a recruiter for their network, so ensure that they can access the key stakeholders in the recruiting process to maximize their chances for success.

Read: “These Aren’t the Droids You’re Looking For – The Finance Hiring Process” to learn about ways to improve your hiring process today.

Education
You hire a recruiter in part because they have knowledge that you may not have. Whether it’s about the marketplace, salary expectations, or helping you divide your wish list into “must haves” and “nice to haves,” your recruiter should be a guide in the hiring process.

Similarly, they should be willing to learn from you. Look for recruiters that listen more than speak, and who ask questions designed to help them understand your industry, company and needs. Recruiting firms who invest time and energy in educating their staff often go the extra mile to ensure that you understand the “why” behind specific decisions. So look for agencies who emphasize a learning culture.

Cost
What is the firm’s fee structure? What kind of a guarantee do they offer? A recruiting firm who believes in their process will stand behind their work.

Key Takeaways
Take time before you bring a recruiting agency on board to carefully understand what makes that firm unique. Ask questions to determine what their process looks like and what kind of value they can bring to the hiring experience. Do they invest in their staff and have a culture of learning? If so, it’s likely their recruiters have a greater understanding of marketplace conditions, how top talent makes decisions and how to work with you as a true business partner. Look for recruitment agencies that stand behind their work with a comprehensive guarantee. Ultimately, by investing some energy at the start of the process, you enhance the likelihood of bringing a quality recruiting agency into the fold, and landing the kind of talent that you’re looking for.

Clarity Recruitment, connecting exceptional people with remarkable companies.

by Clarity Recruitment