{"id":2793,"date":"2024-04-18T14:47:17","date_gmt":"2024-04-18T21:47:17","guid":{"rendered":"https:\/\/addison.lwh.dev\/insights\/moving-fast-when-hiring-finance-and-accounting-talent\/"},"modified":"2025-02-14T11:39:13","modified_gmt":"2025-02-14T19:39:13","slug":"moving-fast-when-hiring-finance-and-accounting-talent","status":"publish","type":"post","link":"https:\/\/addisongroup.com\/insights\/moving-fast-when-hiring-finance-and-accounting-talent\/","title":{"rendered":"3 reasons to move fast when hiring Finance and Accounting talent"},"content":{"rendered":"\n<p>The market looks much different than it did a year ago. The Great Resignation has slowed, and some companies have had layoffs, which means the market is teeming with talent, right?<\/p>\n\n\n\n<p>Not necessarily.<\/p>\n\n\n\n<p>Although we\u2019re hearing about some layoffs in the job market, that doesn\u2019t automatically mean there is a lot of talent that hiring managers can choose from. In fact, with the unemployment rate down to\u00a0<a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/empsit.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">2% in the finance and accounting sector<\/a>, there\u2019s not a lot of talent looking for new opportunities, and the candidates that\u00a0<em>are<\/em>\u00a0searching for new jobs are getting hired fast. In this market, it\u2019s crucial you don\u2019t delay in extending an offer.<\/p>\n\n\n\n<p>Here\u2019s what can happen if you don\u2019t act fast when hiring talent.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-losing-out-on-great-finance-and-accounting-talent\">Losing out on great Finance and Accounting talent<\/h2>\n\n\n\n<p>You may think the longer you have a role open, the more likely you\u2019ll find the perfect candidate. Unfortunately, that\u2019s not the case.<\/p>\n\n\n\n<p>You\u2019re more likely to lose out on talent to competitors by waiting to extend offers to candidates. With the low unemployment rates in finance and accounting, talent isn\u2019t on the market long. Consequently, you need to act fast to get the candidates you want.<\/p>\n\n\n\n<p>Keep an open mind. If a candidate doesn\u2019t have the exact background you\u2019re looking for, you can train them once they\u2019re hired. Providing career development opportunities is a green flag to candidates, as it shows you\u2019re investing in their growth and affirms that your company is where they want to work.<\/p>\n\n\n\n<p>Ultimately, great finance and accounting talent isn\u2019t waiting long, and you need to make quick decisions to secure the talent you want. Candidates want to see confidence from organizations, and speedy hiring processes show that.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-longer-hiring-process\">Longer hiring process<\/h2>\n\n\n\n<p>Losing out on talent not only means not having the top candidate for the job, but it also means that your hiring process starts from square one again. On average, it takes companies&nbsp;<a href=\"https:\/\/addisongroup.com\/workforce-planning-guide-2024\/\">60 days to fill an open position.<\/a>&nbsp;Depending on your needs, you might need talent much sooner than that \u2013 and you can\u2019t afford to repeat the process multiple times.<\/p>\n\n\n\n<p>Lengthy hiring processes can be avoided by making quick decisions about candidates. This means not dragging out the interview process. You can\u2019t afford to dedicate weeks to sitting through interviews and delay sending offer letters \u2013 and candidates aren\u2019t likely to accept a position at an organization that can\u2019t make a decision. Sending out offers quickly to candidates is crucial. Doing so ensures that you stand out to candidates and secure the talent you need.<\/p>\n\n\n\n<p>The faster you move through the hiring process, the more likely you\u2019ll secure the right candidate to get the job done and keep your organization moving forward.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-cost-of-leaving-roles-open\">Cost of leaving roles open<\/h2>\n\n\n\n<p>Holding off on hiring someone not only risks losing out on your top choice candidate and extending the length of the hiring process, but it can also cost your organization money. For example, if an employee\u2019s base pay is $100,000 and it normally takes 60 days to fill the role,&nbsp;<a href=\"https:\/\/addisongroup.com\/workforce-planning-guide-2024\/\">the unfilled position can cost a company $454 per day and $27,240 in 60 days<\/a>.<\/p>\n\n\n\n<p>This means the longer you take to hire for a role, the more money your organization will lose \u2013 so it\u2019s critical not to wait when deciding on candidates. As previously mentioned, waiting can lengthen the hiring process, and with the daily average price of open roles, the costs add up quickly the more time you take to hire a position.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-best-way-to-secure-finance-and-accounting-talent\">The best way to secure Finance and Accounting talent<\/h2>\n\n\n\n<p>There are many reasons why you need to be quick when hiring talent for your finance and accounting teams. Any delay in making an offer can extend your hiring process, cost your organization money, and drive away great talent. All these factors result in one thing \u2013 not filling your positions. In the long term, this can be negative for your business operations and hinder your growth.<\/p>\n\n\n\n<p>The best way to find qualified candidates you need fast?&nbsp; A talent solutions firm. For more than 20 years,&nbsp;<a href=\"https:\/\/addisongroup.com\/\">Addison Group<\/a>&nbsp;has been focused on quality not quotas. We place qualified finance and accounting talent to help move your business forward.&nbsp;<a href=\"https:\/\/addisongroup.com\/contact\/\">Connect with us today<\/a>&nbsp;for help filling your open positions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Although we\u2019re hearing about some layoffs in the job market, that doesn\u2019t automatically mean there is a lot of talent that hiring managers can choose from. In fact, with the unemployment rate down to \u00a02.2% in the finance and accounting sector, there\u2019s not a lot of talent looking for new opportunities, and the candidates that are searching for new jobs are getting hired fast. In this market, it\u2019s crucial you don\u2019t delay in extending an offer.<\/p>\n","protected":false},"author":29,"featured_media":2794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[11,113],"tags":[],"post_function":[127],"post_audience":[130],"class_list":{"0":"post-2793","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-article","8":"category-employer-resources","9":"post_function-finance-accounting","10":"post_audience-employer"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>3 reasons to move fast when hiring Finance and Accounting talent - Addison Group<\/title>\n<meta name=\"description\" content=\"You can&#039;t wait on great finance and accounting talent. 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