Influence the Outcome in the Hiring Process

Influence the Outcome in the Hiring ProcessInfluence the Outcome in the Hiring ProcessThe latest quarterly report from the U.S. Bureau of Labor Statistics (BLS) with unemployment rates by occupation shows why, in part, the hiring process has been difficult for todays employers.With the high number of job openings - 6.1 million in August, the last reporting period - and low unemployment rates for accounting and financial professionals - 2.2 percent for accountants and auditors, compared with the national rate of 4.2 percent - skilled talent remains in demand.See the infographic, below, for more unemployment rates for accounting and finance jobs.What this means is that competition in the hiring process is fierce at a time when job seekers have more and more leverage over employers. Robert Halfs latest research reveals candidates top five factors for evaluating job offers Compensation, Cost of living, Career path, Commute and Corporate culture.Knowing that, hiring managers might won der which of the 5 Cs they can influence to guide to decision-making. The answer? All of them, to some extent, according to George Atiee II, vice president of Robert Half Finance Accounting.1. CompensationA key to attracting the best people, of course, is paying them well, and Atiee says companies across all industries are frequently offering salaries above market rates.Thats not all. Theyre also taking a closer look at their company compensation packages, because benefits such as healthcare, signing bonuses, 401K plans, and even paid time off could be a deciding factor for candidates.Benefits are a huge part of the discussion, especially for the financial and accounting industry, because candidates will weigh all their options and review how much its going to cost them, down to the penny, to make a move to a new company, he says.What can you do? Make sure youre up to date on the latest salary trends with the Robert Half Salary Guide for Accounting and Finance, and aim to pay compe titive wages and offer benefits meaningful to potential employees. 2. Cost of livingFinance and accounting salaries vary dramatically across the United States. A financial analyst with one to three years experience, for instance, can expect to make $91,000 in San Francisco, while the midpoint salary for that same financial analyst in St. Louis is $64,675. The cost-of-living disparity, particularly in housing prices, is the primary reason for the regional differences in pay.This is a big discussion, but only if a potential employee is considering moving to a new location, Atiee says. Thats when cost of living figures into the compensation, because it affects housing, food, taxes, healthcare and prices of everyday items, all things that affect an accountants decision.What can you do? Know how your salary offers are affected by cost of living when youre recruiting someone from out of town. ur Salary Center h as customized wage ranges for more than 135 U.S. cities, including a map that shows comparisons by region.3. Career pathYou might hear questions like these from potential hires What kind of advancement can I make at your firm after a year or two in this position? Is promote from within the exception or the rule? A definite driver for decision-making among finance and accounting professionals is whether a company is willing to invest in their career path.Some companies and industries do this better than others in the accounting world, says Atiee. Banking does this well, with well-defined career paths, where someone can start as a teller and work up to bank manager, for instance. The public accounting sector also has defined ladders, beginning with interns and progressing all the way to the top. What can you do? Try to offer a defined career path, even in corporate accounting, and show employees how they can succeed. Help them meet their goals by offering professional training, such a s workshops, continuing education and mentoring enabling skill building helping to deckblatt the cost of obtaining certifications and encouraging industry memberships, networking and conference attendance.4. CommuteImagine making the choice between two jobs. One is a 15-minute bike ride from home. The other would take an hour and a half using public transportation. Think of quality of life, traffic stress and extra costs, family obligations, wasted time and work-life balance.Commutes are important, especially in certain parts of the country, but that can be out of an employers control, Atiee says. Ive seen companies, though, let employees work from home a couple days a week or give them flexible schedules to avoid traffic. It doesnt cut down the distance of the commute but it does cut down the time in theyre in the car.What can you do? This is where flexibility and perks come in handy. If youre offering a job that requires the candidate to commute, think of offering variable work sc hedules, van pools, parking discounts, bus passes and telecommuting options, such as a day a week to work from home. It could set you apart from other employers in the process. 5. Corporate cultureCorporate culture should be at the heart of your companys values and mission, and job seekers will want to know what its like to work for you and what the staff is like. They might ask, Is your culture collaborative or independent? What defines success, and how is it rewarded? How long do people stay? Of all the five Cs, this is one of the harder ones to show potential employees - and outsiders - as a tangible asset, Atiee says. Our company, as an example, will take the time out of a work day to allow employees to participate in a day of community service, and well get the word out by posting photos on social media. Thats one way to create an awareness of our corporate culture.What can you do? Fifty-one percent of the CFOs in a recent Robert Half survey said theyre involved in shaping th eir companys corporate culture. One way they do it is to collaborate with other executives to define the desired culture. You can also let candidates meet the colleagues theyd work with, and show them around the workplace. Try to understand your company culture from their perspective and communicate it effectively.Remember that in todays job market, youre evaluating the best and brightest as much as theyre evaluating you. Ascertain their compatibility by being strategic with your questions and learning about their work styles, strengths and work ethic, so you can hire a perfect fit.And remember If youre going to hire someone who will succeed and thrive at your company, you need to consider all the Cs. Whether its compensation, cost of living, career path, commute or corporate culture, the factors leading to the acceptance of an offer are complex. But knowing whats important to job seekers and what you can do in response can help you succeed in the hiring process.We specialize in pro viding businesses with skilled finance and accounting professionals on a full-time basis. Find out more. George Atiee George Atiee II is a vice president for Robert Half Finance Accounting, North America. He joined the company in 2014 as a recruiting manager in the Raleigh, N.C., office, and previously was a staff accountant. He is based in San Antonio and continues to serve as a captain in the U.S. Air Force Reserve, overseeing health service administration, including its finances and logistics, for an aeromedical evacuation squadron. He has his masters of science in accounting.