Hiring someone is a major investment decision. It’s also a major risk.
What I’ve noticed over the years is that the managers making the hiring decision don’t give it anything like the attention it deserves.
The process of expensive. When someone is appointed it’s a major expense month after month.
So how can you make good hiring decisions when recruiting to your finance team?
Create a strong advert
One that not only tells people about the job and skills but also sells the organisation and the role.
Remember there is going to be plenty of opportunities for candidates to apply for.
You need to demonstrate that your opportunity is better than others out there.
Make sure you are clear about the type of person you want on the team
If you are recruiting a qualified accountant you know that every candidate is going to be able to do a technically competent job.
What’s important is the person, their fit and what they bring to the team that is already in existence.
Have a criteria against which you evaluate applicants
This is important as it avoids you falling into the trap of being enticed by a well presented CV.
Using weighted scores helps bring an element of objectivity to the process.
Use a range of activities at the selection stage
Most rely on a short interview or a number of interviews. Candidates are getting better at navigating through these.
Introducing a range of activities like presentations, case studies and role plays will help you get a much more rounded view of candidates.
Focus on competencies, track record and achievements
Make sure that you are seeking evidence of candidates having done what they claim. Get them to talk about really situations rather than asking abstract questions.
This will give you insight not only about what they have done but what type of person they are.
In truth, hiring is a major investment decision. What do you need to pay more attention when hiring someone for your finance team?