How to choose a recruitment company to build your finance team is an important question to ask in the current skill short market. Finding the right people for your high-performing finance team is crucial to the success of your business. After all, your employees are the lifeblood of your organisation. Their performance impacts your ability to grow, connect with customers, and even outperform the competition.
Unfortunately, finding the right talent to fill your team isn’t easy. Data shows that around 9 out of 10 employers struggle to fill the workforce gaps. The challenges can be even greater for companies in search of financial talent.
Skill shortages in the financial sector are increasing, and countless companies compete to attract the same talent. That’s where a specialist finance recruitment company comes in.
The right recruitment company will help to position your business in front of the right professionals, boost your chances of attracting the best hires, and streamline the recruitment process.
So, how do you choose the right partner to work with?
Step 1: Define Your Needs
The first step in choosing the right recruitment company is understanding what you need from a hiring expert. Which roles are you trying to fill within your finance team right now? Do you want to build a talent pool so you have a safety net of qualified candidates to access at any time?
Consider the qualifications and competencies your ideal employees will need, their characteristics to fit your company culture, and how you will attract hires with your employee value proposition.
Remember, different recruitment companies can offer different service packages. Some can help you with resources and guidance when creating job descriptions or interview strategies; others can help you streamline your recruitment process with the right technology.
Step 2: Prioritise Industry Expertise
When choosing your recruitment agency, it’s worth prioritising those who already understand the nuances and complexities of the financial talent market. Candidates in the financial world have their distinct priorities and values to consider.
You may also find there are different places you can source talent in the financial industry, such as through industry-specific forums or events. An experienced financial recruitment partner will understand what it takes to find and engage the right people for your roles.
They’ll be able to identify candidates more rapidly with the correct skill sets and experiences for your needs. Plus, they’ll know how to highlight your EVP and where they should be positioning your job listings to drive the best results.
Step 3: Examine Reputations and Reviews
Once you’ve defined what you need from a specialist financial recruitment partner, check their reputation. A reliable recruitment team will already have a strong online presence, showcasing their thought leadership and industry knowledge.
They’ll have a track record for successful placements, validated by case studies, testimonials, and reviews. Using these insights will give you a behind-the-scenes look at the experience you can expect when working with your recruitment partner.
Remember to look for reviews from both previous financial clients and candidates. Positive studies from candidates indicate your recruitment professional can help you build a positive candidate experience, which may increase retention rates.
Step 4: Assess Their Approach and Processes
The best financial recruitment company will be able to guide you through their approach and recruitment process step-by-step. They can introduce you to the tools and technologies they use to assess, source, and manage candidates, answering any questions you might have.
They should also be able to explain their candidate screening process and how it helps them position candidates in the roles that best fit their needs. Look at how your recruiter assesses everything from qualifications to cultural fit, long-term potential, and soft skills.
Remember, many of the best recruitment companies often avoid a one-size-fits-all approach. Check with your potential partners that they can adapt their recruitment strategy to suit your specific needs, taking your goals and values into account.
Step 5: Look at How They Source Candidates
Any effective recruitment company should have a strong strategy in place for sourcing diverse candidates from a range of different environments. The best partners won’t just rely on posting job descriptions on social media or their websites.
They’ll have a behind-the-scenes insight into how they can source valuable applicants from the passive candidate market, increasing your potential hiring pool. They’ll have strong relationships with other financial market groups and a fantastic network.
A great recruitment company will ensure you can connect with professionals from a wide variety of backgrounds, improving the diversity of your team.
Step 6: Focus on Clear, Transparent Communication
Working with a recruitment company doesn’t just mean hiring an agency to handle some of your recruitment processes. The best agencies become valuable partners for your team, providing guidance, answering questions, and helping you to grow.
For a partnership like this to be successful, clear and consistent communication is crucial. Your ideal recruiting company should be responsive and ready to keep you updated throughout the hiring process. They should also be transparent when it comes to setting timelines and expectations.
Good recruitment companies might not be able to tell you exactly when you’ll be done with the hiring journey, but they can give you a realistic timeline for the sourcing, screening, and placement process so you know what to expect.
Step 7: Remember Cost and Value
Finally, while the investment of using a recruitment company will play a part in your decision, it’s important to think beyond the initial expense. Don’t be tempted to work with the company with the cheapest hourly rate or package.
Instead, focus on the value your recruitment company will provide. Sometimes, paying more for a service means you’ll be able to save money in the long term by ensuring you hire the right talent and accelerating your recruitment process.
A slightly higher investment in a more reputable agency can lead to significant long-term benefits for your business and your team.
Choosing Your Recruitment Company
Choosing the right recruitment company to build out your financial team can seem like a daunting prospect. However, with the right strategy, you can ensure you join forces with a partner that paves the way to long-term success.
By considering the factors above carefully, you can select a financial recruitment agency that accelerates your progress towards a range of business goals.
Thanks,
Rachel
About Rebus Financial Recruitment
Rebus Financial Recruitment provides a specialist and focused recruitment service to its customers, ranging from various organisations, including SMEs, to large PLCs.
We strive to offer both the client and candidate a seamless recruitment experience. Using our expertise, we get to the heart of employer and employee needs, and, in doing so, we match the two perfectly.
To learn more, contact one of our team today or call us on 01282 930930.
