Hiring in the financial services industry after the global financial crisis is a complicated proposition. Whether you’re looking to hire someone to deal with accounting services or financial security, the truth is many companies have taken a hit since the recession. This means you probably need these financial services professionals more than ever, while simultaneously battling a smaller hiring budget.
The video interview can be the key when it comes to finding and hiring the best people to beat the global financial crisis. Video interviews help employers connect with great financial and accounting services professionals faster and more personally than ever before. It also helps employers bridge great distances, helping companies focus on hiring the best people.
Before we delve further into using the video interview to nab great financial services professionals, let’s take a look at some of the challenges in the industry today:
Finding the Right Financial and Accounting Services Professionals, Post Global Financial Crisis
The global financial crisis left the industry in a tough spot. Companies were shuttering doors and jobs were drying up. Things have gotten better, but there are still plenty of challenges the industry needs to face head-on in order to attract and hire the best accounting services and financial industry employees:
- Filling entry-level jobs can be tough. Goldman Sachs has scaled back the company’s renowned two-year analyst training program and other companies are following suit. These young workers are the future of your organization, yet tightening wallets mean there’s not enough capital to fill entry-level jobs.
- A recent survey showed 84 percent of U.S. employers find it difficult to hire great financial services professionals. The same survey showed employee turnover is a major concern for the financial services industry. A disturbing 83 percent of employers were worried about losing their top talent to employee turnover, as smart workers looked for better opportunities elsewhere.
- Not everything is gloomy, even after the global financial crisis. New financial regulations have more companies desperately searching for compliance officers. Job postings for compliance officer positions have jumped about 49 percent since 2011.
Obviously, the impact of the global financial crisis is still being felt by the industry, making it harder to hire the best financial and accounting services professionals. So how can the video interview help?
The Video Interview: A Financial Services Industry Solution
Thanks to the power of video interviewing, employers are finding it easier to connect with the best candidates. Whether a company is looking for compliance officers, investment services professionals, or someone to monitor the company’s financial security, video interviews could be the solution.
Fill Entry-Level Jobs
No need to make a campus recruiting visit thanks to the video interview. Campus recruiting can be costly, and companies have less capital to spend on filling their entry-level jobs than ever before. Now you can get future entry-level talent to interview with you directly.
Thanks to the one-way video interview, students don’t even have to take time away from their class schedule in order to record answers to your written interview questions. You can cut out the noise at career fairs and instead focus on the best to fill your entry-level jobs.
Jumping The Skills Gap
When it comes to financial and accounting services jobs, skills definitely matter. Thanks to the skills gap, as we’ve seen, 84 percent of employers are finding it harder to fill their openings. By cutting out the less personal aspects of the hiring process like phone screens, video interviewing allows employers to focus on only the most highly skilled candidates.
And if these candidates are located in far-flung destinations? No problem! Connecting with candidates personally now no longer involves airfare.
The global financial crisis might have made it harder for companies to find the best people. But thanks to the power of video interviews, your company can avoid the clutter, reduce employee turnover, and hire the best financial and accounting services professionals.