Last year, the need for new business was top priority for professional service firms. This year, a shortage of top talent to service that business is the main concern. From small businesses to global companies, leaders at professional services firms are facing real challenges when it comes to recruiting and retaining the best the market has to offer.
Not all hope is lost though, there are three important areas that professional service firms can focus on to help set them up for success.
1. Enhance Your Employer Brand
Every company has an employer brand no matter how small or big the business. Understandably, while busy billing hours, developing an employer brand may not have been top of your to do list. If you want to communicate what life is actually like at your organization, this is the best place to start. Take the opportunity to showcase your people, culture and what makes you unique.
Think about who you want to attract to your firm, develop a persona around that ideal candidate and target your communication to their needs. Plan ahead for what your recruiting needs will be in the future and focus your branding efforts on the candidates who will fill those roles. Use social media platforms to promote a positive image for future talent and make sure your careers page is compelling.
2. Enhance Your Candidate Experience
With the job market being candidate-driven, it’s more important than ever to convince top talent that your organization and job opportunity are the right next step in their career. Standing out as an employer who cares will set the stage for a strong relationship with new employees. There are a number of ways that you can humanize your candidate experience from the moment someone applies until they (hopefully) walk in the door. These include:
- Sending a friendly automated email response to notify candidates upon receipt of their application
- Providing a clear overview of the recruitment process
- Establishing effective interviewing practices and
- Sending a branded “Welcome to the team” onboarding letter
Are you ready to make your candidate experience human?
Download our Candidate Experience Audit Tool to get started!
3. Think Outside The Box
In order to stay ahead of the competition, firms should think outside the box when it comes to workforce planning. According to a survey conducted by PwC, 78 percent of financial services CEOs are now seeking talent with a broader range of competencies outside of the narrow financial skillset. This opens the door for those with high potential once trained up by the company. Don’t forget, not all that work for you have to be permanent, pensionable employees. By bringing in contingent workers and freelance contractors, firms can maintain a balance between having the resources needed to get work done without making unreasonable financial commitments.