The legislative and regulatory landscape is littered with pitfalls for the unwary employer, with the pool of suitable accountancy candidates ever shallower. What’s more, competition to attract and retain the best staff is nothing short of fierce. All of which means relying on hit-and-miss hiring and firing is no longer enough. But following these guidelines will help you find the ideal recruits.
Make a good start
Your firm’s HR team should work in conjunction with specialist recruitment agencies that deal intensively with the accountancy sector. These agencies will have a large database of people who have either been previously registered or placed, or who are actively looking for work. They will also have access to specialised online jobs boards where the pool of talent is considerably wider.
Selling the job
When dealing with qualified accountants, the biggest issue can be educating candidates about why it can be beneficial to stay within the accountancy profession.
The amount of corporate finance and forensic accounting work within the profession is growing exponentially. Getting into corporate finance is not the easiest move to make, but for a candidate who is technically proficient, academically strong and has the right personality, the attractions are great.
Promotion paths within the mid-tier firms and the Big Four are clearly defined and designed to reward flair and initiative. In multi-partner firms, new partner creation is based on merit alone and issues such as length of service are hardly relevant.
Compiling a professional job description and making it as attractive as possible is critical. Candidates who come to agencies will talk about a company and what’s happening within it, but will also want to see a specific and detailed outline of their duties, responsibilities and reporting structures. Candidates are very aware that they have a variety of options, particularly at newly qualified level, and can afford to be choosy.
Interview techniques
Employers should not rush into offering a job to candidates. Don’t forget that it is a very important decision for the candidate; they almost need to be wooed.
You should have at least a two-stage interview process, where the candidate can meet a line manager and possibly someone more senior. Go out for lunch or even a drink with candidates to see how they interact. This can make the process a lot smoother and keep the candidate interested.
Making an offer
Salary isn’t everything. Many professionals are seriously concerned about work-life balance. Employers have to make sure that candidates are offered a comprehensive benefits package with decent holidays and pension contributions. Bonuses obviously come into it, as do flexible working hours, childcare, car allowances, life insurance, health insurance and even gym membership. Candidates have so many options that the package has to be special.
Keep it sweet
Keep in contact with the candidate once an offer has been made. After notice has been given, counter offers often come into play. Notice periods can be up to three months and counter bids can happen at the resignation stage or further down the line.
Once the offer has been accepted, the new employers should get the paperwork out quickly and have a signed contract returned as speedily as possible. Soothe any departure nerves by socialising with the new starter to keep them on side and deal with any second thoughts.
Nicky Macleod is head of professional services at PRG
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