ByBrandi Britton, Executive Director, Contract Finance and Accounting, Robert HalfThere's a striking uniformity of thought around hiring when I speak to small business leaders, even though each has their own unique take on the current economy. According to Robert Half research, the majority of small- and medium-sized businesses (SMBs) plan to continue hiring through the end of the year. This is primarily due to company growth, but 85% of these businesses face hurdles in finding skilled talent.Many of the professionals that companies are looking to hire are in finance and accounting. Unfortunately, positions in financial planning and reporting, accounting, audits, bookkeeping and payroll haven’t been easy to fill. With unemployment rates below 2% for many of these roles combined with these professionals’ reticence to leave their current positions (also known as The Big Stay), small business hiring managers face heavy competition for scarce finance and accounting talent.
How to Attract Finance and Accounting Talent as a Small Business
Against the odds mentioned above, I have seen small businesses successfully hire for finance and accounting positions in this tight labor market. Their strategies include changing how they envision and consider candidates, leveraging contract professionals and selling their opportunity and organization. Here’s how you can steal from their playbook:
A common hiring pitfall is believing you are only one more resume or interview away from finding the dream candidate. However, rather than moving closer to making this great hire, you're actually moving further away by pursuing a lengthy recruitment process in search of an idealized candidate who rarely exists — all while work continues not to get done. Many small businesses recognize this problem, citing their own unrealistic expectations for candidates as the top reason for hiring delays, according to Robert Half workplace research. Despite this awareness, they are still more likely than larger companies to search for a unicorn candidate. Meanwhile, larger businesses gain ground by quickly hiring talented, real-world candidates. My advice to small business owners: the sooner you stop pursuing perfection, the closer you’ll be to ending your hiring headaches.
Increasingly, small business leaders ask me for one key trait hiring finance and accounting professionals: someone they can easily talk to and communicate with. Because these soft skills are coveted and often harder to find than technical skills, I encourage hiring managers in today’s tight labor market to consider high-potential candidates.These candidates may not have specific skills, which can be learned, but may be self-motivated and solid communicators, collaborators and critical thinkers. If your organization doesn’t have the bandwidth to train and upskill these employees directly, look into outside resources that provide courses, tutorials and workshops. You can also offer financial assistance so they can further their formal education. Investing in employees’ growth in these methods and others, such as mentorship, helps build a positive culture of continuous learning, which benefits your organization in the long term. I've seen innumerable high-potential candidates become excellent employees. The positive stories I hear may explain why I have seen that over the last four years, most small businesses have increased hiring for potential.Also consider candidates who don't fit your original vision, such as those with transferable skills (e.g., accounts payable background for a payroll position) or seasoned workers who can hit the ground running. My mom, a retired CFO, works as a bookkeeper for a church. They're delighted with her wealth of experience and knowledge, and she appreciates a lower-profile role.
Many small businesses have solved the vexing challenge of needing finance and accounting-related work completed (e.g., audits) without wanting to commit to hiring permanent employees. How? By using a scalable staffing model.With this approach, your organization can engage highly skilled professionals for as long as you need them—days, weeks or months. You can also choose when you want to bring them on (e.g., Tuesday). These contract workers can be your ace in the hole, enabling work to be done while lowering the costs and stakes associated with bringing people on board permanently. Instead, you can scale your workforce up or down based on your business needs, easing the burden on your core staff and giving you greater control. This hiring strategy is popular: In a Robert Half survey, 70% of small companies reported plans to take on contract workers through the end of this year.
Just as you're selective about potential hires, finance and accounting candidates are equally discerning and have multiple options. They have high expectations around salary and flexibility, so you must act quickly with competitive, well-rounded offers — and be prepared to negotiate.In this competitive landscape, I always remind small business hiring managers to highlight — in bright yellow — what exactly makes their organization attractive to today's job seekers.Below are key attributes that candidates value in employers — many of which your organization may already possess due to its smaller size and more dynamic nature. If these characteristics and qualities describe your opportunity or organization, be sure to tout them to candidates:The senior management team they’ll work alongside — Your leaders have likely defied odds with their expertise and execution to grow your small business — and candidates want to learn from them. If your organization offers access to senior management, which larger companies typically can’t provide, emphasize this advantage and spell out its value. One of the most powerful pitches I've heard a small business hiring manager tell a candidate is: "This role will give you the best two to three years of experience and training you'll receive anywhere."Flexibility around when and where they’ll work — Candidates highly value flexibility — and they often expect more of it from small businesses. If you offer flexible schedules that allow work outside typical business hours, along with hybrid and remote options, you'll significantly expand your pool of skilled finance and accounting candidates.
Also, be aware that candidates increasingly expect higher pay for in-office work. According to a Robert Half survey, six in 10 managers at small and medium-sized businesses are willing to increase starting salaries for new hires to work in the office full or part time. You may find yourself at a competitive disadvantage if you don't offer hybrid or remote options.Fewer hierarchies, more freedom — Many candidates appreciate fewer layers of management and greater autonomy to propose and implement new ideas, processes, and systems — all attributes of most small businesses. When employees can see the direct impact of their work, they often feel their contributions matter and become more invested. If your small business boasts a corporate culture of entrepreneurship and a strong employer brand, promote them.More chances to learn and execute — Many finance and accounting professionals relish opportunities to understand the bigger business picture and solve a variety of related financial challenges. In an ambitious and agile small business, they can stretch their skills and participate in strategic decision-making. If this describes your organization, say so. Faster career progression — Employees often gain skills, experience and responsibilities more quickly at a small business, given its leaner staff. In this environment, team members’ contributions are more likely to be noticed. Such visibility can lead to earlier promotions and expedited career advancement. Does your organization have a track record of providing such career-boosting opportunities? Do you support employee development with career pathing? If so, candidates are interested in hearing more.Positive team dynamics — A significant selling point for candidates is a company where employees value each other and work collaboratively. Supportive relationships are top qualities that young professionals seek in an employer. They speak volumes about your corporate culture and values, which candidates closely scrutinize. Promote these qualities if they apply to your workplace.
Now that you've taken stock of the unique advantages your organization offers candidates, compare this information against your job description. Is it doing your company justice or underselling your attributes? You may find it's the latter.Nearly twice as many small businesses as larger companies cite poorly written job descriptions for attracting unqualified candidates and delaying hiring, according to Robert Half research. The good news: if you write a compelling — not just clear — job description that connects with candidates, your company can punch above its weight against more resource-rich businesses and possibly land a standout candidate. Here are three tips:1. Be specific and concrete about what your employees like most about your organization so candidates can picture themselves there (e.g., "Our team members value Friday social hour, the free mental health app, and our open communication style").2. Speak to the candidate directly by using "you" statements (e.g., "You excel at forecasting").3. Write the job description as if you're talking to one person and trying to win them over.If you can apply a few of the above strategies to your recruitment efforts, I believe you can hire better and faster. And if you don’t want to go it alone when trying to staff finance and accounting roles, let’s team up to help you find the talent your organization needs to thrive. Follow Brandi Britton on LinkedIn.
