Hiring accounting or finance professionals in today’s market is quite different than it was a few years ago. While there might be plenty of candidates seeking new job opportunities, finding the right match—and keeping them—isn’t always simple.
Here are a few ways to strengthen both hiring and retention practices in today’s accounting and finance landscape:
Clarify the role.
Well-defined job descriptions do more than outline duties. They reflect a clear internal understanding of what is needed in your accounting (or finance) department. Hiring managers who articulate the purpose of a role, skills required, and how success will be measured are more likely to attract candidates who are aligned and engaged from the start.
Does that mean a job description has to have every single duty a prospective candidate will perform when hired? Not at all. Professionals we work with at TGRP Solutions understand that roles evolve and a job overview is exactly that. However, you should paint a realistic picture of a job so that candidates with the right backgrounds can assess how well they fit. This is especially important for specialized accounting roles (e.g., technical accounting or SEC financial reporting).
Expedite the hiring process if possible (and communicate your timeline).
When you come across a candidate whose experience and personality (after interviewing) seem like exactly what you’re looking for, it’s critical to move quickly. Excellent candidates don’t stay on the market for long. If they are fielding multiple offers—and even if they’re just interviewing at multiple companies—delays in your interview process could be the reason they choose another opportunity or continue their search.
A long, drawn-out interview process with unnecessary rounds and/or slow internal decision-making increases the risk that you’ll lose a candidate who could have made an immediate and long-lasting impact. If nothing else, have a schedule of decision timelines and set expectations with the candidate (and recruiter if you engage one). This will keep everyone informed and prevent your “dream hire” from moving on if your process is thorough/not fast.
Remember: retention starts day one.
Once you hire an employee in your accounting or finance department, the hard part might feel like it’s over—but don’t forget that retaining strong talent takes effort. Respected workplaces in the Denver metro area that we’ve worked with at TGRP have several things in common: strong onboarding, great training, consistent communication, and a commitment to recognizing and rewarding value.
If you hire someone into a position that’s been vacant or where certain duties have fallen behind, make sure you’re setting up your new employee for success. Document processes before a person starts if possible. Make sure new hires have at least one person to turn to with questions. They’ll be more likely to stay when they feel supported and appreciated—even when the job is challenging.
Reflect on past hiring missteps.
A clear job description and excellent screening process helps you find the right types of candidates to interview, but that doesn’t guarantee retention. If your most recent employee didn’t stay long or wasn’t the right fit, reflect before you start the next search. What will you do to aim for a better outcome with your next hire?
Use insights from any exit interview with your last employee (if you did one) to guide you. Things like mismatched expectations, unclear job duties, culture problems, and poorly communicated performance expectations can cause problems sooner than later. The more you can learn from past experiences, the better equipped you’ll be this time to make an excellent hire and help that employee thrive.
Provide a clear path forward.
Many early-career and mid-level accounting professionals are seeking growth opportunity as much as stability. Be prepared to talk in the interview process about advancement potential and where a role could lead. You don’t need to promise a promotion right away, but keep in mind that companies that invest in their employees tend to see higher engagement and longer tenure.
Does your company and/or department support employees pursuing professional designations like the Certified Public Accountant (CPA), Certified Management Accountant (CMA), or other accounting and finance credentials? What about Continuing Professional Education (CPE)? If there’s not a clearly defined promotion track in your department, what other avenues are in place to encourage professional growth and skill building? Think about how you support and challenge employees who are eager to learn, develop, and take on more responsibility.
Pro tip: not every role needs a full-time employee.
If you’ve been trying to fill a role for some time without success, it’s worth considering an alternative to a full-time employee:
- Consultants are perfect for helping with high-level or technical projects, stepping in as interim CFOs or controllers, or supporting accounting leadership with special projects that require certain industry experience or specialized skills.
- Contractors are a practical solution for backfilling vacant roles, helping with audit prep, and tackling short-term projects like bank reconciliation catchup and cleanup work.
Need help? Call TGRP Solutions.
At TGRP Solutions, we customize our services to clients’ needs. Whether your company has an accounting or finance position to fill and wants to find the best candidates in the Denver area through our Direct-Hire Placement service, or you need temporary support from one of our TGRP consultants or contractors, we’re here to help.
Contact TGRP Solutions today to learn how we can support your company, or call 303.789.1500.
