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Hiring Accountants This Year? Why A Quick Hiring Process Is Key

With the 2020 busy season looming, you may already be thinking about hiring new staff to keep up during this time! For today’s accounting professionals working with a low unemployment rate, the likelihood of juggling multiple offers at a time is higher than most. For employers, this means that you have to operate with a quick hiring process in order to secure top talent.

“A tight hiring market right now means that being too slow to make an offer can result in long-term consequences for you and your current staff,” says Phil Waller, Senior Director of The Execu|Search Group’s Accounting / Finance Division. “Since some companies take as little as five days between holding an interview and making a job offer, employers need to establish a quick hiring process if they want to ensure they have top talent on their staff.”

If you’re looking to make new additions to your staff this year, here are three ways to quicken your hiring process:

Understand what accountants are looking for

Since accounting professionals often have multiple options to choose from, it’s important for employers to set themselves apart from their competition. While compensation is definitely something to think about, there are other ways to make yourself the best choice. “Many organizations mistakenly think that offering certain perks are what will attract top talent, but the vast majority of job seekers want something more substantial than free snacks and ping-pong tables,” explains Phil. “Accounting professionals in particular are instead looking for companies who will provide them with a healthy work-life balance, opportunities for leadership development, and a consistent challenge with increasing responsibilities.”

Read more: 2020 Hiring Outlook: 4 Strategies For Hiring + Engaging Talent In An Evolving Market

Utilize phone and video screenings

Instead of only conducting in-person interviews, you should take advantage of phone and video screenings as a way to speed up your hiring process. Not only will this help you quicken the process overall, but it will also make your in-person interviews feel more substantial. “A pre-screening interview is a perfect way to get a sense of whether or not a candidate is qualified for the role,” says Phil. “By figuring this out early in the hiring process, you can narrow your options down so that when the candidate does come in for an interview, you already have a strong idea of their skillset and you can focus more on overall cultural fit.”

Consider hiring for potential

Employers across multiple industries are experiencing a skills shortage, and accounting is no different. That is why companies with successful hiring rates aren’t solely looking at technical skills anymore—they’re looking for employees who can learn quickly on the job and eventually take on a larger role. “Employers need to realize that the current skills shortage means they may not find candidates with exactly the right skill set for the job,” says Phil. “Instead, they should be open to the idea of hiring for potential. Coming into the hiring process with an idea of what you’re willing to teach can help you make a hiring decision quickly.  Many candidates have the ability to learn rather quickly and can be up to speed in just a couple months.”

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