Michael James 2016-11-04 07:00:00
For most financial recruiters, they will concede that sometimes they may not too detailed or meticulous during the screening process. The questions could be too vague, while the answers are not specific enough. This isn't necessarily an indictment of the financial recruitment industry, but everyone pretty much agrees on one thing: we all have to do a little bit better moving on.
Indeed, as you refrain from asking the tough questions and proceed without impeccable answers, you may end up with candidates that may not be the right fit for the company or industry.
With that being said, it is up to the financial recruiter to find the best of the best who can contribute to the company's ultimate goal: giving the bottom line a shot in the arm, a boost.
And, in order to achieve this, you have to be a Dirty Harry type of recruiter to snatch the top-notch talent for your clients. Remember, the financial industry is a cutthroat business so you need candidates with both a strong acumen and the personality to handle the niche.
Here are five tips for financial recruiters when they're screening candidates:
It is great that you have a list of candidates who have education and experience in finance. But what about the nitty gritty, the meat and potatoes? Do they have any understanding of the specifics. Remember, finance is a general term so in today's day and age you need to be a specialist in a certain area in order to succeed and thrive and flourish in a company.
For instance, the applicant could have a degree in finance, but they may not understand exchange-traded funds (ETF) trading or knowledge of credit derivatives.
Of course, it may not seem like a big deal, but specialties are better than generalities. To learn more insights about the recruitment process, you may consider consulting with the professional financial recruiters at The Mason Group.
Does the candidate just want to earn a paycheque or do they have certain career goals?
You need to learn about the candidates' career goals in order to find them the right business to be employed by. Indeed, as the marketplace becomes more competitive, businesses, particularly those in the finance industry, desire talent that have an affection for the industry.
They want someone who won't just work from 9 a.m. to 5 p.m. and do the bare minimum, but rather someone who will be entirely dedicated to the company and go above and beyond.
If you want to have a better understanding of the candidates then perhaps you should take a look inside their social media accounts, whether it's Facebook, Twitter or LinkedIn. Moreover, you should also take a gander at their friends and connections to learn more about the candidates.
You can learn a lot about talent today by examining their social networks.
In addition to their social media, you can also learn a lot about the candidates through references and accomplishments, and also perhaps their motivations.
The references can inform you of how well they worked for the company, while the accomplishments will verify what they have actually excelled at. Motivations, meanwhile, highlight why they want to work in the finance industry and what they hope to achieve.
A list of these three things will certainly provide your clients with the right talent.
Finally, as you screen and interview the candidates, you need to know how to treat the candidates, and how you expect to be treated by them. Respect is the key term in this case.
You can't be too impatient with candidates, but you also can't be too nice. Also, you can't treat your candidates poorly because you may then risk pushing the best match right out the door.
At the same time, you have to learn to have thick skin, especially with your clients.
The labour market has greatly evolved in recent years. You have millennials – those born between 1980 and 2000 – taking over from the Baby Boomers; you have work ethic and workplace culture changing; and you have technology playing a key role in finance.
Financial recruiters have to understand the labour market, the job trends and the brands they work with. The more knowledge you have pertaining to the client and the candidate, the more you can help both parties as well as your own career.
Be respectful, be meticulous and be prepared.