Posted by Rebekah McLain on Wednesday, August 19, 2015 - 07:45
This is the first of a two-part series on relocation. Next week we’ll look at the topic from the point of view of job candidates.
Good finance and accounting talent is hard to find. In fact, 68 percent of chief financial officers (CFOs) polled in a Robert Half survey said it was challenging to find skilled candidates for professional-level positions. If you’ve had the same experience, then consider expanding your search parameters to include candidates who would require relocation.
Let’s take a look at some of the pros and cons of this approach, as well as a few tips to make hiring easier when relocation is a factor.
Increased talent pool. When you open your search to candidates requiring relocation, your talent pool expands. You may find resumes that contain your “like-to-have” qualities, as well as the “must-haves.”
New mindset. A non-local candidate could breathe fresh life into your finance and accounting procedures, just by bringing different experiences and insights.
Character. Starting work in a new location often requires people to step outside their comfort zone. Candidates who show this strength of character and career dedication can benefit your organization.
Relocation fees. Moving is expensive, be it cross-country or cross-state. To attract top finance and accounting talent, you need to offer generous relocation fees.
Start dates. When new hires have to relocate, it’s unlikely they’ll be able to start in two weeks' time. And when they arrive, there will be a learning curve.
Risky business. You probably don't know these candidates personally, and it’s less likely you'll find someone in your professional network who can vouch for them.
Tips for Hiring
There are many factors to keep in mind when hiring candidates who require relocation, from timing to how to find the best financial professionals on the market. Here are three tips to keep you on track:
1. Offer flexibility. Relocation takes time, so new employee may be tying up loose ends — such as the sale of a house — even after they’ve settled into the office. Let them know upfront that you’ve anticipated these circumstances and will provide a reasonable amount of flexibility.
2. Bring them in for a visit. In today’s world, phone and video interviews are commonplace. But a phone call won’t give candidates the information they need to determine whether relocation is the right step. Fly promising candidates to your city so they can observe your working environment and see your organization in action. And offer to show them around town to give them a feel for what may become their new home.
3. Work with recruiters to expand your reach. Recruiters save you time and money, and they often have networks that cross state lines and national borders. They may also have inside access to passive job seekers you’d not know of otherwise.
In today’s challenging battle for finance talent, it may soon become the norm for hiring managers to extend their searches beyond the local area. Relocation presents unique challenges, but it can pay off by helping you find the skill and expertise your organization needs.
Have you dealt with relocation in your recent hiring efforts? Share your experience in the comments.
Find out what clients say about working with Robert Half recruiters?