Financial Modeling skills are in great demand and become a top priority for a great majority of candidates. Whereas, recruiters set their expectations and make sure only the best people join them. However, hiring a financial modeler became easier with the following guide. Learn how to recruit the right person for your finance team and bring positive results.
Judge beyond the cover
Do not make your decisions based on what the paper says. The CV just helps to give a general idea about candidates’ education and work experience but not the skills. For example, if they have attended a high-ranked university, it does not mean yet that they are smart enough. Therefore, try to focus on the person’s achievements and previous responsibilities. The way of thinking and communication will play the most crucial role in your team’s success.
Test the skills
Before getting to the interview, give the candidates to solve a problem. In particular, give them a task to build a financial model. If they did it right and managed to apply appropriate knowledge, they may have a chance to go to the next round. For the interviewer, it gives an additional but useful recruiting criteria.
Explanation is the key
Once the candidates provided with the financial model that they created, it is time to prove their abilities to elaborate. In other words, they should be able to explain the logic behind along with theories and impact. Moreover, they can elaborate as if they were company owners or part of the management team.
Introduce with the team
Make sure your finance team approves the candidates because, at the end of the day, they are the ones to work with the new employee. It is necessary to introduce the candidate with other stakeholders and assess the teamwork. In addition, it will prove once again their communication skills.
Financial modeling is still an important skill gap that we cannot avoid. Employers have to apply different strategies, be more creative and efficient in finding the right person. Some candidates require training and self-assessment to understand their weaknesses/ strengths.
Fortunately, keySkillset is here to transform and help these candidates as well as companies get the best people. It is time to change the way we hire people. Therefore, we hope that this article on how to recruit the right person for your finance team will provide useful tips to transform the hiring process.