Getting your finance team right can be a smart decision as it will help you handle one of the most important aspects of your business; It’s money. Here are four things to consider before your next finance department hire.
Is this a finance job, an IT job, or both? – Reporting financial information has become more complicated as more sophisticated techniques are used to gather and present information. Therefore, ensure that when you hire for a finance position, you have a clear idea of the job description, the qualifications and the experience the position requires.
What kind of business acumen is critical? – Although your selection of candidates possesses the required experience and qualification, they may not possess industry or market experience. For some finance positions this will be critical and one of the most required skills.
How will technology and existing talent fill the gaps? – Look at how a finance position may be filled with advances in technology and software before looking at hiring. Another way of managing your hiring budget is to look at adding value to existing staff by offering them training and development that will help them take on more.
Does the price tag meet your KPIs? – The staff hired for a finance position should understand their KPI’s before they take on a role. Some candidates will require a higher pay to reach certain standards.