The challenge to interviewing young professionals in Finance
Interviewing financial profiles can originate due to resignations, layoffs, retirements, vacations, leave, or simply because your organization is growing. You as a manager could face the challenge of interviewing and eventually recruiting young professionals for the financial area of your company.
Channel with HHRR experts for the interviewing financial profiles process.
A specialist is who should carry out the approach to the labor market. The Human Resources Area or, failing that, a consultant specialized in recruitment. Generally, experience in economics, finance, or management is related to financial profiles, but don’t limit your gaze to these careers. Followed by the preparation of an employee application describing the main requirements for the position and their justification.
Then the search for potential candidates begins through job application sites, referrals from other employees within the organization, or the always provided pool of universities and business schools. My first tip is to channel these initial steps in the process with the HHRR experts. They will be able to manage these requirements while ensuring that the process complies with company policies and that candidates fit with the organizational culture. In addition, they will conduct a background check confirming past experience and education.
As a result, you will generally receive three Resumes from prospective professionals who could meet your needs. This is when your interviews begin.
Steps to Interviewing financial profiles to young professionals
- Technical Skills: I’ve always given a high regard to technical knowledge, especially for entry-level positions. The most productive way to assess these skills is by introducing a business case. You can describe for example a situation where the company has to face a cash requirement. And ask the candidate to assess different financing alternatives. The way to record these transactions in the accounting books and the impact the transaction will have from a tax perspective. Of course, the right answer in these cases should be one and only. You should be able to qualify the individual with this case from a pure technical perspective.
- Educational Background: Ask the candidates about their impressions during their time at the University. Refer to best and worst scores, Grade Point Average, favorite assignments and the ones they disliked and, very important. Why did they choose the profession they have? Usually finance profiles are fulfilled by people with economic, finance or administration background, but don’t narrow your look towards these careers. There are very productive finance professionals holding legal or engineering degrees. (not to mention the medical degree held by the renowned Dr. Michael Bury). Usually the outsiders of the finance world should have previously earned certain financial qualifications. Also experience in the area to enable them to enter this market. You should be able to recognize their abilities and weigh pros and cons versus and insider. Additionally, this is an opportunity to assess other abilities such as language and computer skills. Is the candidate ready to answer questions in a foreign language?
- Aspirations: Prepare to make candidates think about the future. Where do they see themselves in two, five or even ten years? How are they going to pave their ways towards that view? Do they pursue broad managerial positions or they rather want to become experts in their fields? Are they willing to work as a consultant, as e team-member or they rather manage a team of people? In this case, there are no right or wrong answers, it depends on the profile and perspective of the position. The opportunities the company might provide in the future, the fit within your team and the balance in the portfolio of skills you have to manage.
- Career Path: Here it’s important to dig around the facts and reasons why the candidate made certain decisions such as working for any particular Company or leaving their job. Additionally, you should ask why they would change jobs now, and what attracts them most to the new employment opportunity you are offering. Finding motivations is key to understanding if the candidate is oriented to salary, stability, career, gaining experience or other driver. These answers should be consistent with past experience, age, family situation and of course will reveal certain facts to understand if the prospect employee fits with the cultural environment of your organization.
- Non-verbal language: This is perhaps one of the most difficult aspects to assess, and may be it is one of the reasons why you should never interview a candidate on your own. A second view is highly appreciated in all the senses, but particularly when you need to understand body language. The way people sit, the peace at what they talk, the way people present themselves and of course some impressions such as: are they nervous? Is the candidate fluent when speaking or hesitates when giving answers? Do they look in the eyes when speaking? Where do they position their hands? Simple gestures, tone of voice and facial expressions might have an immediate impact in the interview- As well as might provide lots of useful information about the person you are interviewing.
2. Risk when interviewing financial profiles
Once all the usual filters and background checks were conducted and the final candidate has been chosen. You cannot rest assured that the person will be a perfect fit. First, there is usually a time gap between the job offer and the first day at work. During that time, the person might rethink his or her decision, preferring to stay at their current job rather than changing. Even worse, the candidate might still want to keep looking for another job. A full immersion program is required and follow-up (with the support of an HHRR expert) is highly recommended, once the person has joined the company. This will help make a soft landing while creating the conditions for the candidate to fit culturally in the organization.
3. Final considerations
The following list should help you go through the interviewing financial profiles process and successfully choose the best candidate for the position:
- Seek Expert Advice: HHRR Business Partner will be involved in the process.
- Assess Technical Skills with a practical business case.
- Consider all of the candidate’s educational background and related professional experience.
- Look for relevant milestones in the career path.
- Be ready to read the non-verbal language.
- Weigh the risks and chances to successfully get the candidate on board.
For other topics related to companies, business and international trade we leave you our blog #beinternational https://madiuc3m.com/be-international/.
Post written by Facundo Francisconi
Optimized by: Diana Nathalie Moreno