30 Mar 2020 Ankit Chadha

5 Essential Facts About Finance Recruitment

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The purpose of finance recruitment agencies is to find professionals for filling up financial services positions in your organization. We understand that recruiting for finance can be a great challenge, but when you partner with finance recruitment agencies like TRC Corporate Consulting India, the process gets simplified. We specialize in finance recruitment for mid to senior-level roles such as risk, corporate banking, investment and financial services and much more.

Financial sectors continue to be a reliable and steady source of economic growth. Consequently, recruiting for financial institutions face newer challenges. Finance recruitment agencies face a high demand for data-related roles like finance data and quantitative analysts.

Finance recruitment agencies must know these five essentials facts about finance requirement for successfully hiring the best talent:

  1. The Entry Of New Competitors

The age of digitalization has exponentially increased the demand for candidates with the right technical skills. A significant number of financial organizations compete with each other, not only for the consumer market but also for talent acquisition. Additionally, tech-based start-ups and fintech services are the new competitors for securing top talent as they provide learning opportunities, lesser bureaucracy and enable creativity. Consequently, finance culture is adapting to be more casual and modern, reflecting the needs of the changing customer base and today’s talent pool.

  1. The Use Reward To Attract Talent

The opinion that people get drawn towards the finance industry for monetary reasons isn’t completely wrong. Attracting the best of talent needs a show of rewards and recognition, the easiest way to do this is by offering competitive salaries. Doing so is increasingly important to compete with financial institutions, tech-based start-ups and the fintech industry as they are known to provide attractive incentives.

3.The New Competitive Differentiator Is Employer Branding

Candidates today have the mindset of a consumer as they seek all-time accessibility to information, making it harder to invite and connect with them. The candidates who are interested in your business manage to be well informed and voluntarily become a part of your recruitment process. Employer brand is a big competitor differentiator that has surfaced from this enhanced access to information. A robust and transparent employer brand is one that communicates unique employee value propositions.

4.The New Top Priorities Are Diversity And Inclusion

Diversity and inclusion are top recruiting priorities across industries, but for financial organizations, there’s a particularly strong incentive for their personnel to show the diversity of their consumer market. Presently, financial institutions are adopting many strategies to improve diversity among their staff. Hiring finance recruitment agencies help screen and select candidates based on specific business requirements, diversity and technical skills.

5.The Underutilization Of Social Media For Recruiting

The effect of social media on recruiting is undeniable as a significant number of recruiters use sites like LinkedIn and Glassdoor to find candidates. Amongst all industries, the finance sector needs to leverage this underutilized channel of communication to build a strong employer brand and encourage the practice of self-apply.

 

Benefits of Working With Finance Recruitment Agencies

The finance industry is known to be an innovation leader. In recent years, the finance sector has gone through significant changes. Hiring finance recruitment agencies help develop a successful finance recruitment model that is up to date with the latest finance employment challenges and trends.

At TRC Corporate Consulting, our finance professionals and recruiters follow these practices:

  • Create an appealing employer brand
  • Apply fresh recruitment tactics
  • Influence employee referrals
  • Match requirements against skillsets

It only makes sense to carry out a thorough research before venturing into something new that can have an impact on your business. So take a look at the benefits of working with finance recruitment agencies:

  • Accessibility to top talent

Finance recruitment agencies follow the no-one-size-fits-all approach for recruitment. Professionals take the time, resources and knowledge to try out different strategies to find you the best candidate.

Finance recruitment agencies have a considerable head start, which includes these:

  • Job Panels:  Because finance recruitment agencies are always recruiting, which enables them to negotiate cost, long-term agreements and also advertises your organization to the right people directly.
  • Talent Pool: Candidates track and register with reputed finance recruitment agencies. Hence the recruitment agency already has an extensive network of involved, skilled and responsive applicants that you can approach for the vacant job position.
  • Inactive Candidates: Persuading passive or inactive candidates to take up a role requires skill, confidence and experience. Different mediums are used to involve them, like social media posts, via email or telephone. With the change in time, finance recruitment agencies use new techniques to fill roles.
  • Time Efficiency

Recruitment takes time, especially for important roles. Hiring a finance recruitment agency takes away the problem of time management by carrying out below-mentioned tasks:

  • Resume Screening
  • Communication with candidates.
  • Necessary administrative responsibilities.
  • Preliminary meetings.
  • Salary discussions.

And because this is what finance recruitment agencies do day-in, day-out, they do it quicker as they know what they are looking for, the right questions to ask and can interpret any problems early on. It also gives HR managers the time to deal with more critical things.

  • Domain Expertise

Finance recruitment agencies stay up to date with the newest information, advancements and current affairs of the industry. Deep domain insights enable guidance for entire procedures and advise any change that can affect it. For example, finance recruitment agencies can help you with accounts receivable or reconciliation as they have information about the following:

  • The skills shortage
  • Candidate surplus
  • Chances of recruitment
  • Service rates
  • Recruitment Experience

Of course, recruitment agencies are exceptional at recruiting – it’s what they do.

  • Finance recruitment agencies know how to get your job advertisement ranked highly. They use popular keywords and phrases to maximize the reach of your advert to the users searching for jobs.
  • Finance recruitment agencies know how to write compelling and attractive copies for your job advertisement that gets individuals to self-apply.
  • Finance recruitment agencies know how to quickly and effectively screen through resumes, eliminating weaker candidates early on.

There’s no substitute for experience when it comes to finance recruitment.

  • Enable Employer Branding

Finance recruitment agencies know the importance of employer branding, and not only when it comes to recruitment – but for the whole business. It is always a good idea to have an agency on your side to back you up every step of the way. Finance recruitment agencies represent your business professionally and also ensure that the job aspirants get a feel of your organization’s culture and brand.

 

Your Partner For All Finance Recruitment Needs

At TRC Corporate consulting, our first priority is to understand your hiring needs and then find the right candidate with the right skillsets. Let us help you fill up your finance hiring requirements while you take care of the other, more important aspects of your business. If you need any further understanding or have queries concerning finance recruitment, contact us, and we will be more than happy to help you.