We assess candidates before we suggest them.
Sitting behind everything we do is not only a series of metrics and tests to find the best candidates, but the belief that your people should be an asset. Not a liability.
In any significant financial or business transaction there is a need to conduct due diligence to mitigate risk and yet when hiring some of the most crucial employees in the business (those in the finance team) there is very little preparatory work.
At Acuity Associates there are 4 factors to making the right hire, 3 core skills we’re looking for and really only one solution to the issue of avoiding a “bad hire”.
4 factors to make the right hire:
If a “bad hire” is so costly, then how do you ensure you make a “good hire”? It comes down to these 4 factors with capability and commerciality making all the difference.
Qualifications – You need a candidate that holds the necessary qualifications.
Capability – You need a candidate that is actually capable for the role. (not just qualified)
Cost – The cost of the hire and the cost of a “bad hire” need to be considered.
Commercial Objectives – You need a candidate who has commercial ability – the see beyond the numbers.
The right candidate needs 3 core skills
These skills are essential to the success of the business and go beyond just the numbers.
Understand the numbers – the ability to conduct all necessary financial tasks to a required standard.
Interpret – a commercial awareness to capitalise on opportunity, minimise costs and mitigate tax burden
Communicate – the ability to communicate and align with all parts of the business
The two choices – recruiter or DIY (doing it yourself)
When it comes to how you recruit you can either choose to use a recruitment service or tackle the matter in house.
In house – In house can lead to issues of hiring based on availability rather than capability.
Recruiter – Using a (regular) recruiter presents a conflict of interest – they focus on placement, not proficiency.