Talent Management Series: Your Reputation Is the Key to Attraction and Retention
With the ongoing shortage of qualified accounting and finance professionals, recruiting and retaining employees continue to be challenging. As positions open, competition for top talent will be even tighter. To combat the shortage, your company’s reputation can be the key to attracting and retaining the best accounting and finance talent.
Improved Hiring Process
Top talent typically receives multiple job offers and may be lost to a competitor within 10 days of looking for a job. Keep in mind that no candidate will possess every skill and qualification you are looking for. Hire for coachability, emotional intelligence, temperament, motivation and cultural fit; skills can be taught on the job. Let candidates interview you as well, so they know whether they are interested in continuing with the hiring process. Keep desired candidates informed about which stage you are in. Top finance and accounting professionals will appreciate the fact your business moves quickly on making decisions. They want an employer who values forward movement, especially in employee career paths.
Competitive Compensation Package
Accounting and finance professionals take a holistic view when deciding which employer to work for. When evaluating suitable compensation, know what attributes you are looking for and the nature of your business. Ensure your compensation strategy is different for each potential hire, tailored to meet market demand, aligned with your business needs and goals, and created with the lifecycle of the employee in mind. Remember to include base salary, bonuses and reimbursements along with flexible benefits such as health insurance, a retirement plan, vacation days, car allowance, and personal development support. Plus, offer perks such as a flexible schedule, remote work or wellness programs.
Learning and Development
Engaged employees with clear opportunities for job progression remain with your business longer. Finance and accounting professionals need to continuously update their skills due to rapidly changing roles and project requirements. To maintain speed, flexibility and innovation, you need to offer on-demand agile learning platforms that provide relevant content updated in real time. Methods should be adapted to employees’ learning styles and unique needs so they absorb the information better.
Highly skilled finance and accounting candidates want insider information about the employers they may work for. Salary estimates, interview tips and reviews from current and former employees on sites such as Glassdoor are especially important. Be sure to maintain your company profile, share updates on your culture and work environment, and respond positively to negative reviews.
Find Highly Skilled Accounting and Finance Professionals in Chicagoland
The expert recruiters at Marco & Associates will find the experienced finance and accounting professionals you need. Contact Marco today.