Why finance talent is still hard to find, even during a downturn – and what you can do about it.

Updated: Oct 1, 2020

You brief your internal recruitment team on your new FP&A role and brace yourself for the influx of CV’s you’ll receive given the current climate.

But, despite the 200 CVs the team have waded through, it still appears to be as difficult as ever to find exceptional talent.

The reality is, this absolutely isn’t a reflection on your Recruitment team. Quite the opposite – their time is now spent assessing on average 200% more talent, likely with less resource across the function. And, the truth is, despite unemployment rates increasing as a result of the pandemic here in the UK, organisations are still fighting to keep their best talent. In actual fact – their recovery now depends on it.

So, what steps can you take to maximise your ability to attract the perfect next hire in the current market? Trinity House Group has got you!

Change your mindset from recruiting to marketing when it comes to advertising your opportunities and tell a compelling employer brand story. Don’t just talk about the role – share with candidates the answers to questions they want answering right now i.e. how safe is the company for me to join? What flexibility is offered? How have you taken care of your employees during the past few months? What is the culture like in the new world?

Cut through the noise and look for referrals. With safety and security becoming a primary influencer in job satisfaction – candidates are less likely to be looking for new roles if their role is not at risk. You’re also still battling with many top companies in the market who are actively competing for the same talent that you are. However, people buy people – especially trusted people who they know, which is why reaching out to your network is key.

Enlist the support of a search partner (yes, just like Trinity House Group, but other agencies are available!) It may seem sensible to put a hold on working with search partners given there are more people unemployed. However, it’s key to understand that your recruitment team will be under additional pressure to screen high volumes of CVs from candidates and so it’ll take much more resource (and cost!) for them to manage each vacancy, with inactive candidates still not having even seen the vacancy. Working with a trusted partner will give you access to a network of candidates who are not actively looking for a role.

Look after the talent you have as other companies will come knocking! In difficult times it’s important to keep communication open as well as continuing to find ways to nurture and develop your team. It’s likely they are working harder than they ever have – so take time to recognise their commitment and whatever challenges they face in their personal lives.

Recruiting? Want to take our advice and enlist a partner? We’d love to hear from you.

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