So Why Can’t You Fill That Amazing Job?

Irish employers are so used to being in control when it comes to recruiting the best talent. What the last few months’ have told me, is that this sense of security that employers have, no matter what the brand, no matter what the industry, is no longer applicable. The shift in control has happened - it is the talent who hold all the power. Why?

I specialise in the financial services accounting market, recruiting across contract and permanent roles for Dublin’s leading Financial Services Institutions.

My job flow has never been busier- I rarely have to seek out new business nowadays, as due to the success of my team and the success of Morgan McKinley as a whole, most often, the business comes to us.

What makes our job incredibly difficult is finding candidates who have the right skill set to do the job, who are essentially happy to take a drop in salary to move to industry.

It is still the Big 4 profile that is most in demand across all industries, however, after years of losing their brightest talent, these practices have picked up their retention game and are now offering contract extensions and promotions that the financial services industry has simply not been competing with. This needs to change.

I am not saying that we should be giving all of the power to the newly qualified market, offering them ridiculous amounts of money after just qualifying.

Accountants who train in practice will always, initially, be more valuable to a practice than an industry, because they have been an appreciating asset over the last 3.5 years to practices as this is where they have trained. However, there needs to be some sort of alliance with what your company can offer them, be it in remuneration, the package, or indeed in the experience they will gain, that gets those who are in high demand over the line and working for your brand!

We are used to newly qualified accountants coming to us, seeking opportunities outside of practice- most of them focusing on sectors such as aircraft leasing, life insurance, the governmental bodies, IT, FMCG, and pharmaceuticals.However, in the last week, two high flying candidates backed out of offers for one of the most desirable industries known to the market, to remain in practice, because the salaries they were being offered just couldn’t compete?

If aircraft leasing is failing to attract the best talent- something needs to change!!

So what advice do I give to all of those employers out there who are struggling with that role that should be hopping with applications?

  1. Don’t rest on your laurels. Keep up to date on how the salary benchmark is changing across your relevant market. There is no better source, than a well-established recruitment agency to give you this insight, so use us!
  2. Ensure your hiring managers know how to host an interview, sell your company and the role, appropriately. It happens too often that a candidate comes out of interview completely put off by a role due to the interview technique used, or the body language of the interviewer.
  3. Keep up to date with what your competitors are offering to their employees. Don’t expect that your brand is enough to get someone over the line. We are human, and as humans, we are greedy. There is only so much a company culture, or reputation can do- if you are underpaying your staff, your reputation will suffer.

 

And finally,

  1. Be proactive in retaining your staff, not reactive! Don’t wait until someone hands in their notice to offer them that well deserved pay increase. Assess your business today- If there are staff working for you, who you would absolutely counteroffer should they hand in their notice tomorrow, why wait until it’s too late. Counter offers only work a small margin of the time, people have already made their minds up to leave and realistically once that ‘Get me out of here’ seed is planted, it is very difficult to change someone’s mind!

 

If you have any questions, queries on how to attract the best talent for your company, please give Morgan McKinley a call today on 01) 4321555.

Gerald FitzGerald's picture
Chief Operations Officer Ireland
gfitzgerald@morganmckinley.com

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