A well-considered hiring process is a must to ensure your organization employs the most talented financial pros. Since it costs upwards of $40,000 or more to onboard any new worker, the importance of making the right hire remains paramount. A wrong decision simply means the entire process starts again, with a higher expenditure as a result.
With a talented and productive finance pros in mind, here are a few ideas on how to audit your financial organization’s hiring process. Leverage these insights to ensure the right choice gets made every time you have an open position.
Points of Consideration for the Hiring Process
Do your new employees take an inordinate amount of time to become productive? This may be the case because you are hiring the wrong candidate or perhaps your company’s onboarding efforts are inefficient. This is a key question to answer as part of any auditing of your hiring process.
Developing a detailed plan when hiring any new employee is vital. Finding talented new employees is too critical to the success of your company to simply improvise something whenever a new position becomes available. Create a plan; execute it, and modify and repeat as necessary – a defined structure and flexibility are both important.
Use a Multitude of Sources when Searching for Candidates
Analyze the number of sources your company uses to find talent. Make sure you aren’t missing out on great candidates by only using referrals or perusing LinkedIn accounts. More than two sources is a must to ensure a wide enough net.
Thoroughly vetting candidates when they get to the interview portion of your hiring process helps truly gauge their abilities. This includes checking references from previous employers. Verifying their tangible financial industry experience needs to be part of any hiring plan.
Be Open to Hiring a Great Candidate When You Find One
Finally, consider hiring talent even when you don’t have an open position. This ensures you aren’t forced into making the wrong hire when you are too desperate to fill a position. Always remain open to a new employee if they are the right fit for your organization.
Any hiring plan benefits from implementing these ideas to ensure you are employing the best financial professionals.
When you need assistance building a talented team at your company, talk to the experts at Venteon. As one of the top financial staffing agencies in the Midwest, we provide a robust supply of great candidates. Click to contact us today!