Hiring the best person possible is the goal, but it doesn’t always happen. Hiring mistakes occur. If they happen too often, you could dilute your talent pool, and it could start to affect company performance.
Hiring managers in the finance and accounting industry need to consistently look for ways to improve their recruiting methods. In this blog, Toronto accounting recruiters take a look at 5 ways to increase the quality of the people you hire:
1. Look at KPI, Not Just Skills
Key performance indicators can say a lot more about a candidate than a list of skills. Asking candidates to provide KPIs as part of the application can help you distinguish higher qualified candidates.
“To find these stronger candidates, I suggest the basic hiring criteria should be a series of key performance objectives (KPOs) rather than a list of skills, experiences, and competencies,” says Lou Adler on LinkedIn Talent Blog.
Adler provides an example:
“For example, it’s better to say a person charged with improving the logistics function has to set up a program in the first six months to ensure 99.9% on-time deliveries in 24 hours, rather than say the person must have 5+ years in supply chain management, be results-oriented, and have exceptional knowledge of SAP’s ERP module.”
2. Be Willing to Modify the Job
You won’t always find a perfect candidate to fit a role. But if you find a top-quality talent, be willing to modify the job to fit their skills. It can be a mutually beneficial move.
3. Slow Down
Many companies make the mistake of hiring the first qualified person they interview. But this doesn’t mean they are the best candidate. Avoid rushing to fill a spot. Often it takes time to find the best hire for the job.
4. Assess Your Hiring Post-Hire
As they say, hindsight is 20-20. It’s important to take time to assess your hiring performance. Look at your hiring mistakes and dig into the reason why the mistakes were made. This can help you prevent these recruiting errors from happening when you hire in the future.
5. Consult a Finance and Accounting Recruiter
If you are struggling to hire top quality talent, consult a recruiter that specializes in finance and accounting. Leverage their industry connections and experience to improve your hiring process.
Get More Hiring Advice from Toronto Finance Headhunters
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.