COVID-19 has shifted many industry sectors of the workforce. For companies that are able, social distancing measures have made remote work the new norm. Employees are transforming homes into workspaces, often simultaneously managing childcare and personal obligations. Businesses are facing difficult decisions about how to adapt and survive this profound shift and hiring practices have changed at a rapid pace.
As the pandemic continues to sweep the nation and the world, businesses are looking for ways to stay productive in the face of unprecedented challenges. Maintaining and managing employee procedures, increasing, or decreasing headcount, and maintaining workloads have become a remote process for many businesses as they look to protect their employees and their clients.
In this time of crisis and disruption, many clients are facing challenges with respect to their internal accounting and finance talent resources. As a result of the impact, clients are experiencing:
- Staff turnover
- Back logged projects
- Additional workload
During this unprecedented time, many clients are opting to hire remote temporary staff and staff augmentation services to keep up with the demands of managing the transactional workflow. Below are some helpful interview tips and current trends.
Client Interview Preparation
There are numerous things a company can do to create a (seemingly) seamless interview process. Some top areas to invest in are:
Invest in Technology: Make sure that the hiring team and candidates have the technology necessary to hold a successful video conference. Consider the method that will work best for a company. Options:
- Google Hangout
- Microsoft Teams
Have a Plan B: Anticipate technology challenges and provide alternative methods and/or backup resources, such as a mobile hotspot or phone conference line in case the internet connection is spotty.
Personalize: When setting up video conference calls, include a personalized message instead of simply sending the link to join the conference call.
Prep Interviewees: Share the names and details of the individuals with whom the candidate will be interviewing, just as one would for an in-person interview. Including a short paragraph about each person’s role within the company can save time during introductions.
Prep Interviewers: Ensure that interviewers review the position description and candidates’ resumes prior to the interview.
Create an Interview Plan: Assign specific questions to each interviewer to ensure consistency, eliminate repetitiveness with one-to-one interviews and avoid confusion during group interviews.
Top Hiring Trends
There are also numerous new trends that can be seen in the marketplace. Be sure to stay ahead of these trends to make sure to attract and retain top talent.
Current market landscape requires faster recruiting practices: Accounting and finance professionals are in high demand. Candidates will not wait for companies that do not move swiftly. If a company is losing candidates due to a long, drawn-out hiring process, consider a few ways to fast track the process without compromising quality.
Workplace flexibility and perks are essential to employees: Work-life balance has become a critical component of employment causing potential employees to evaluate a company on a holistic scale. Beyond salary, candidates consider:
- Workplace flexibility
Attract top talent by offering competitive compensation: Accounting and finance professionals are in high demand. Candidates expect a competitive salary and often entertain multiple offers before accepting a position even after the pandemic.
Top Reasons for Needing to Hire New Talent
As companies adjust to the new norm and many move to remote working, staffing needs have had their own shifts. In response to these changes, hiring managers are:
- Upgrading staff, mainly due to performance issues
- Utilizing temporary support due to employee absences and workforce shortages
- Consolidating positions; eliminating two roles and hiring one higher-skilled professional
- Offering early retirement packages, which are being accepted
- Upgrading/implementing new technology to improve workflow efficiency
- Hiring internal IT staff to replace outsourced IT functions
- Re-organizing departments, including internal promotions
- Proactively hiring talent to capitalize on market uncertainty
- Adding new positions due to revenue growth from COVID-19
It is a different economy these days with a pandemic changing the landscape of how the world does business and hiring is no different. Make sure a company has the right tools, strategy, and team in place as it looks to bring on new talent.