Season 7 | Episode 3
4 Tips for recruiting finance professionals
It’s a Candidate-Driven Market, so Brand Equity Is Essential
It seems obvious that we must market to candidates – unfortunately, we all have seen plenty of job descriptions that leave a lot to be desired.
“It is still a candidate-driven market. So we want to make sure that we’re doing what we can to increase our brand as a company to attract these candidates. Be mindful of the job that’s out there…do some kind of hook to get the individual interested in the position.”
Reach Out and Engage With Emerging Talent Early
When talent is in short-supply, targeting emerging talent early can make a crucial difference.
“When you’re recruiting, get ‘em early. So the internships with colleges and universities, that’s always a great thing. When they’re sophomores, juniors, maybe even seniors just starting out their senior year, just to make sure you’ve got your name in front of them so you have a leg up on the competition.”
Not All Finance-Sector Experience Is Equal or Transferable
Many financial professionals work in a specific niche that may make them look great on paper, but leave them ill-suited for your position.
“You might have Joe Smith, who’s a great lender, he’s got a fantastic portfolio. But the clients he has in that portfolio might not be transferrable to your bank. He might be doing more agricultural lending and those kinds of things, whereas you’re more professional – doctors, lawyers, CPAs, that kind of thing. One would think on the surface, “hey, he’s a great lender, very successful, he can come on over and do well by us.”
In short, it’s crucial to know whether someone’s experience is truly transferrable or not.
Network in Person, Online, and Wherever Else You Can
Networking can give you a big advantage in any industry, but in a candidate-driven market, knowing the right people can go even farther.
“It’s across the board, but the big thing is a lot of people are just content with “okay, here are the candidates that we know of.” The key point I would stress is networking. Whether that’s on your social media, whether that’s kind of the old-school go to some meetings and groups of that kind of thing and shake hands. Get out there and network with as many people as you can…you never know where you’ll find someone, maybe not the candidate for your position, but someone who knows someone for your opportunity.”