Finance is one of the most dynamic industries in today’s economy. With so many specializations, it often makes finance recruitment a challenge in many organizations. Fortunately, there are reliable strategies out there for optimizing financial services recruitment into a seamless workflow – talent partners. Dedicated finance headhunters and recruitment firms can help you attract and hire the right talent where it’s needed. To get the right talent for the job, we need to take a few steps back and understand the nature of the industry we’re in. First, we get a lay of the land, then we dive into the tactics of some of the best finance recruiters out there and how recruiters play into your work.  

Defining the Finance Industry

It’s no secret that the finance sector, like many others, has many branches of services and business models, therefore demanding a diversity of different finance roles. Some of the top-producers in the industry are:

  • Banks form the basis of a majority of financial services, as the institutions around which most savings, lending, and storing of funds are based. 
  • Investments deal with stocks, bonds, and brokerage to manage portfolios. Insurance services provide protection from liabilities, property damages, and physical harm, forming a massive subset of the industry. 
  • Tax and accounting services help keep financial entities in line with federal laws and widely-accepted healthy financial practices. 

Industry Standards

Each of these branches contains countless subsets and positions, some of which are highly regulated and are binded by industry best practices and standards. In addition to a wide-array of specializations, evolving areas in finance require increased knowledge and backgrounds in areas such as federal law, data science, and advanced mathematics. At times, recruiting for these specialized roles feels like you’re looking for a diamond in the rough – Brightwing finance recruiters are no strangers to that feeling, and meet it with success. The standard hiring practice of posting a job to various job boards and letting candidates apply, open recruitment, presents several challenges in a finance setting. Casting a wider net for roles that are more specialized makes it challenging to parse through candidates. 

Additionally, it’s difficult to identify skill gaps when sifting through hundreds and thousands of resumes. Highly specialized roles require backgrounds in areas such as data science that existing finance professionals may not have the proper training on. With fast-paced innovation, adapting new technology, and making sense of big data, finance professionals are challenged to keep their skills and knowledge up to par and employers are challenged to find the right talent, and provide the proper training programs where required. Lastly, finance continues to be one of the fastest-growing sectors of the United States economy. High-pay jobs are in demand and the job market here remains as competitive as ever. 

How Do Finance Recruiters Help?

Finance recruitment balances the navigation of finance industry demands and trends with the job market ebbs and flows. Jobs in the finance sector use industry-specific criteria since there are so many subfields of expertise. Finance headhunters are on the front lines of seeing what pay ranges, benefits, and specifications get key talent placed in the right roles. Aside from assessing the rapidly evolving standards required in every sector of the finance industry, finance recruiters must navigate regulatory requirements. Each job might require a heavy set of legal clearances and requirements depending on the sensitivity of the data involved and the access to classified governmental information. Considering all these factors could take up a lot of resources for organizations to into their hiring workflow. This is why it is helpful to partner with a professional recruitment service that will take care of the details so your company can focus on what it does best.

Finance-specific requirements aside, finance recruitment follows most of the conventions found in recruitment across industries. The financial services recruitment process involves the usual bevy of technical skill assessments, soft skill and cultural fit evaluations, long-term relationship development, and balancing of the talent acquisition screen. Thanks to the adapting world of recruiting, finance headhunters have access to increasingly efficient technologies to accomplish their work. For example, applicant tracking systems, vendor management systems, and recent developments in AI-driven technologies are all reliable tools in a finance recruiter’s tool belt that improve the efficiency with which they can manage recruitment. Some of the best finance recruiters are those who can leverage technology without missing out on the human, personal connection that continues to be the heart of relationships – it’s a balance we pride ourselves in at Brightwing. 

Strategizing for Successful Finance Recruitment

A finance recruitment service should feel like a sturdy ally in the battle to recruit reliable talent for your business. In order to make the best use of your relationship with your finance recruiters, you should create intentional strategies and approaches that will place your company in the best position not only for current hiring practices, but also for your talent acquisitions in the future. One fundamental way to accomplish this is through a targeted recruiting strategy. Targeted recruiting, as opposed to the aforementioned open recruitment, refers to the practice of restricting open positions to applicants of specific demographics, skill sets, or locations to improve your organization’s ability, talent pool, and societal relevance. In the kaleidoscopic and niche industry of finance, financial services recruitment has several targets to choose from. 

Are you hiring into a company specializing in taxes, accounting, and foreign currency conversions? Are you hiring into the compliance department at an investment firm? Open recruitment may get you a qualified candidate perfect for the job, but targeting a specific subset of finance candidates will not only net you a larger number of candidates in the specific field you need but also will do so with fewer resources spent on unqualified candidates. Keep in mind that there is a cost in recruitment, especially in a dynamic field such as finance recruitment – the cost of training and turnover. Hiring an imperfect candidate who then leaves in a matter of months can cost a company thousands of dollars compared to finding the perfect fit the first time and retaining them. 

Finance Recruitment Specialists, At Your Service

Brightwing is a finance industry favorite for recruitment. Years ago, we started placing candidates into positions where they were sorely needed. Now, thousands of successful placements later, our method continues to exceed all industry standards in retention rates. Our BRIGHTView process involves three stages of qualification not only for our candidates, but also for our clients. So, if you are ready to take your recruitment to the next level with thoroughness, effectiveness, and sheer human potential, contact Brightwing today