If you're in the market for a financial analyst, you know how hard it can be to find the right candidate. Financial analysts must have the business acumen to translate financial reports into easy-to-understand information that executives will use to improve processes and help the company grow. They must also be able to analyze and use big data.
What's more, they need to understand the technology side of the business so they can collaborate with IT managers on cloud migration and data analytics. And they must be up-to-date on any regulatory changes so they can ensure the company's compliance with these mandates.
In other words, they play an integral role in a company's success. So it's no surprise that skilled financial analysts are in high demand. In fact, the U.S. Bureau of Labor Statistics says that the number of positions will grow by 16 percent by 2022. Salaries for financial analysts are expected to rise by 4 percent in 2015, according to the annual Salary Guide from Robert Half.
When you're looking to staff a financial analyst position fast, staffing agencies can improve your chances considerably. Here's how:
Staffing agencies can help you hone your job ad
Sometimes, when you're having trouble finding the right candidates for a financial analyst, the problem is the job description you're using. It might be too long or too short, use too many company buzzwords, include vague language, or have grown outdated since the last time you hired for that role.
A recruiter can review the description and help you avoid the mistakes that might keep you from attracting top talent. At the same time, a staffing firm can work with you to develop a competitive salary and benefits package that will also help you bring in the best financial analyst candidates more quickly.
They have access to a deep database of candidates
Staffing agencies work with an extensive network of professionals. They may not need to go out and search for candidates; they can start by reaching out to the financial analysts currently in their database. This includes working professionals who aren't actively looking for a new job – and, therefore, would be unlikely to see your job ad – but are open to the right opportunity.
Their candidates have been pre-evaluated
When you work with a recruiter, you don't have to spend hours sifting through resumes and conducting phone interviews. Staffing agencies will show you resumes from candidates they've already interviewed and evaluated for technical abilities and soft skills. They also make a point to present financial analysts who are looking for a corporate culture like yours. You won't waste time assessing candidates who are underqualified or will have trouble meshing with your existing team.
They can focus on staffing the position
Let's face it: Performing all the tasks that go along with hiring a new employee can be time-consuming. The paperwork alone can eat up an entire day. No question you have pressing deadlines that can push the hiring process aside, lengthening the time it takes to find the right candidate. In fact, according to a Robert Half survey, it takes an average of four weeks to staff a staff-level accounting and finance job and five weeks to staff a management-level position. Staffing agencies, on the other hand, can make your job opening a priority and shorten that time significantly.
Conducting a search for a financial analyst can be more challenging than the hiring process for other professionals, given the high demand for the position. The best candidates get snapped up quickly. Working with staffing agencies can help ensure you don't miss out on your top choices.