As with many industries, finance has been going through major changes recently due to technological advances and globalization. Add in the current tight labor market, and it’s easy to see why companies are having a tough time recruiting finance managers.
Hiring managers must be extremely proactive and creative when it comes to hiring finance managers, especially since there aren’t many qualified candidates out there. Data from the Bureau of Labor Statistics indicates that the current unemployment rate for accounting and finance is 2.2 percent, several percentage points below the national unemployment rate.
Given all the way that technology has recently disrupted finance, it’s also becoming more difficult for companies to find candidates with up-to-date skill sets. Furthermore, these professionals are often asked to handle a broad range of responsibilities, which requires a broad range of skills.
Those looking to hire finance managers clearly have their work cut out for them. If you are currently looking to recruit a finance manager, consider the following tips.
Lean on Employee Referrals
Referral programs can be a great asset for employers when it comes to locating potential finance managers, as companies regularly report that these programs are responsible for a big part of their successful hiring efforts. Studies also show that referred employees tend to be more engaged, happy with their jobs and loyal to the company. Referrals are also more likely to identify candidates who will fit well into a company’s culture.
Maintain High Visibility on Social Media
One of the most common approaches to social media recruiting is to share job postings for open positions, but that’s shouldn’t be the only way these platforms are used. Interacting with followers is a great way to promote your brand, both as a provider of goods and services and as an employer. When your company engages with people who like, comment on, mention, or share your content, it increases the odds of connecting with both unemployed finance professionals, and currently employed professionals who may be curious about employment opportunities at your organization.
Even though LinkedIn is renowned for being the most business-oriented social platform, it’s not the only place you should be investing time. Many finance professionals use Facebook, Instagram, Pinterest and Twitter in their personal and professional lives. Use social analytics tools to determine which platforms are popular among finance professionals and focus your energy there.
Stand Out in Your Industry
You must differentiate your brand as an employer to be able to stand out from others in the labor market. Breaking away from the “boring” and “conservative” image of companies in the finance sector can be a great way to grab the attention of potential employees.
Work with Us to Find Your Next Finance Manager
One very effective way to connect to potential finance managers is to work with a talent acquisition company like Jarvi Group. We can use our broad network of contact to find great talent for your open positions. Please contact us today to find out how we can help you.