4 Common Finance and Accounting Industry Recruiting Mistakes

September 17th, 2019

Whether you are hiring in finance, accounting, or any other related industry, recruiting mistakes can set your company back. The competition for top talent is fierce and recruiting mistakes can quickly derail your ability to attract and hire the best people. Some companies are making recruiting mistakes without realizing it. If you’re having hiring challenges, you could be making an oversight or two in your recruitment strategy.

According to Toronto recruiters, here are some of the common recruiting mistakes finance and accounting firms are making today:

1. Being Too Passive

Mistakes

Unless you are a multinational brand with a strong employer brand, you cannot afford to passively sit back and wait for top talent to apply. Posting a job ad on social media and popular industry sites isn’t enough anymore. You need to be proactive and search for top talent to build your talent pool. Seek out top performers, build relationships, and solicit referrals to identify the best candidates.

2. Not Taking Millennials Seriously

Recruiting millennials is one of the biggest challenges for finance and accounting firms. Many struggle to attract top talent in this generation and don’t put enough emphasis on hiring talented millennials. Why is this an issue? By 2020, millennials will account for 50% of the workforce. Finance and accounting firms need to adapt to change and understand that millennials are different – meaning your approach to recruiting them must also change.

3. Filling a Spot and Not Addressing a Need

Too many companies get caught up in filling an open role rather than strategically choosing the right person – even if it takes longer to find the right fit for the job. Think long term when hiring and how a new hire can fit in now and in the future. Taking a little bit longer to find the right person can help you find a long term solution for that particular role.

4. Not Addressing Talent and Skill Shortages When Hiring

Talent shortage is a growing issue for companies in finance. Each time you hire is your chance to address a shortcoming. Think about the skills, knowledge, and other areas where you are lacking and seek to address these issues when hiring.

Read More About Finance and Accounting Recruiting From Toronto Recruiters

Get more insightful tips from our expert Toronto accounting and finance recruiters. Check out these blogs:

4 Reasons Why You Should Pick Up the Phone While Wooing Finance Candidates

5 Insightful Interview Questions to Ask Finance Candidates

4 Reasons Why Your Finance Firm Needs a Large Talent Pool

 


IQ PARTNERS is an Executive Search & Recruitment firm supporting clients across the country. We help companies hire better, hire less & retain more. We have specialist teams of recruiters in Executive Search / Board & C-Suite, Technology, Media, Digital & Marketing, Accounting & Finance, Financial Services & Insurance, Cannabis, Startup, Data Science, Consumer, eCommerce & Retail, Operations & HR, Manufacturing, Supply Chain & Engineering, Legal & Professional Services, Pharmaceutical & Life Sciences, Non-Profit & Sustainability, and Sales. IQ PARTNERS has its head office in Toronto and operates internationally via Aravati Global Search Network. Click here to view current job openings and to register with us.

Steven Petroff

As a member of the IQ PARTNERS Financial Services & Insurance practice, Steven specializes in the recruitment of Accounting and Finance professionals. He supports a large network of candidates as a LinkedIn Profile Expert and Career Coach. Steven helps organizations find great people. He helps people find their path.