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Competing for Finance Talent: 5 Winning Hiring Strategies

Posted on November 2023

An interview taking place over coffee

Navigating the hiring process within the realm of Financial Sciences can be a complex journey, involving various stages like initial phone screenings, psychometric tests, face-to-face interviews with hiring managers, and on-site visits. To not only attract but also retain top-tier talent, it's vital to make this process smoother and more engaging.

Here, we present five crucial tips for employers, hiring managers, and HR professionals to consider when evaluating potential candidates:

Be Present

Engaging effectively with potential candidates during the hiring process is paramount. It's not solely about assessing technical skills; it's also an opportunity to gain insights into your team's culture and overall attitude. Rather than solely focusing on technical questions, consider having meaningful conversations with candidates. Ask about their interests, personal experiences, and career journeys. Establishing this personal connection becomes even more crucial in today's remote interview landscape, where it can be challenging to establish a genuine human connection.

In today's era of digital interviews conducted over platforms like Zoom, video calls, or phone interviews, it's common to become distracted. For example, you might be tempted to check emails or open other windows on your computer. However, maintaining focus and demonstrating a sincere interest in the candidate's responses can significantly enhance the interview process. Share anecdotes or examples from your own experiences that relate to the role or company culture. By doing so, you not only keep the conversation engaging but also provide valuable insights into what makes your team and organisation unique.

Be in Sell Mode

Every interaction with candidates serves as a chance to present your team and the position in a favourable manner. Take the opportunity to underscore the thrilling career prospects available both presently and in the future. Share your personal journey, detailing why you decided to join your current role and what you find particularly gratifying about your company and team. Highlight your organisation's distinctive culture, showcasing unique facets like company sports teams, social clubs, philanthropic endeavours, or eco-friendly initiatives.

Moreover, don't shy away from discussing the challenges your team has encountered. In fact, sharing these challenges and how your team overcame them can make your pitch more relatable and genuine. For instance, you might illustrate how your team tackled a complex project or navigated a difficult market shift, highlighting the collective effort and problem-solving skills that led to success. Such specific examples not only convey the appeal of the role but also provide candidates with a more vivid and engaging picture of what they can expect when joining your organisation.​

Be Positive

Many of the previous points remain relevant when considering this aspect of the hiring process. However, the crux of the matter lies in maintaining a courteous, professional demeanour and providing timely feedback, all of which significantly contribute to creating a positive candidate experience.

In certain instances, the candidate may not align culturally with your organisation or be the ideal fit for the specific position. Nevertheless, it's essential to offer them professionalism and ensure a positive experience during the interview. Remember, they might have colleagues or contacts in their professional network who could be a better match for your team or role. Creating a positive impression not only fosters goodwill but also bolsters your company's hiring reputation among prospective candidates and hires. This reputation plays a pivotal role in attracting top talent.

It's worth noting that many candidates concurrently explore opportunities with multiple employers. If you provide any reasons for them to doubt their experience with your organisation, they might opt to pursue other options.

Be Flexible

Flexibility in your approach to hiring can be a game-changer. There are instances where a candidate may not fit neatly into predefined roles or expectations, yet they bring unique skills or perspectives that can greatly benefit your team or organisation.

Particularly when working with senior-role candidates, keeping an open mind and considering further evaluating their capabilities or the possibility of creating a new role for an exceptional candidate can be a strategic move. This approach can help you retain top talent and prevent them from joining a competitor.

Be Decisive

In today's highly competitive job market, it's crucial for hiring managers to understand the importance of a swift interview process. Keeping candidates engaged is a top priority, as any delays can lead them to explore other job opportunities.

To ensure you maintain a candidate's interest, it's vital to provide prompt feedback, especially when it's positive. This helps to keep the momentum going and ensures that the candidate remains enthusiastic about your organisation. If they are a top choice for your team, you should strive to remain their preferred option.

While bureaucratic processes can sometimes slow things down, it's essential to make every effort to speed up approvals within your control. This ensures that the hiring process stays on track and that candidates don't lose interest while waiting.

Furthermore, taking a competitive approach is essential. If you and your company are confident that this candidate is "the one," demonstrate your eagerness by presenting the most attractive and competitive offer right from the start. This not only captures the candidate's attention but also conveys your organisation's strong desire to have them on board.

For your quest to secure the ideal candidate for your open position, reach out to Selby Jennings today. As a dedicated talent partner specialising in Financial Sciences & Services, we have an excellent network of business-critical professionals across the Asia Pacific.

Unlock the talent your organisation requires by either submitting your job vacancy or requesting a call back to discuss any unique hiring challenges you might be facing.