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How to Hire New Employees

How to Hire New Employees

Hiring new employees is one of the most challenging tasks business owners face. You can take the fear and anxiety out of the process – and ensure you get the best prospect for the job – by developing an incremental, systematic approach and staying focused on the process. There are four simple steps that cover how to hire new employees.

Remember this: if you don’t change the system or process of hiring that you’ve been using thus far, then you’ll simply get more of what you’ve already got. Here’s a proven four step recruiting system that if followed carefully will ensure you hire the best candidate for the job every time.

Define What You Are Looking For

Define what you’re looking for carefully. Before you even begin looking or telling people you have a position you’re looking to fill – assess your present situation and define your ideal organization chart. Is your current staff in the best positions? And then, for this new / open position – have you fully defined the job and documented its responsibilities and requirements in a job description? What will the ideal candidate look like? Draw this picture before you even begin looking.

Attract a Large Pool of Applicants

Attract the largest pool of applicants your time and budget will allow. Be prepared ahead of the need arising with an up to date database of all your contacts. Research a wide variety of job posting resources that make sense for your business – develop a list and keep it updated. These would range from newspapers and industry newsletters, community organizations and churches, to temp agencies to web sites. Spread the word and share the job description with all your current employees, customers, vendors and other personal contacts.

Compare Applicanta

Compare each of the applicants who contact you two ways: compare each to your requirements, and then compare the qualified applicants to each other and rank them from most to least suitable. Implement multiple levels of screening and you’ll waste less time in lengthy interviews with under-qualified candidates. After you have developed a short list of applicants – invite them in for a structured test situation where they perform the essentials of the position in real time while you observe the results. Also assess your short list with one or more of the variety of assessment tools available to make sure you’re making an appropriate selection.

Sell Your Ideal Candidate

Sell your ideal candidate on the job. Remember the hiring process is a two way street. You’re interviewing them – and they’re assessing you. The stronger more desirable candidates will always have more opportunities. Do you have a strong vision and mission for your business that you can effectively communicate with enthusiasm and sincerity? You need to enroll and inspire in your vision to get a strong team member to join you. Another common mistake in hiring is ‘selling’ too soon. Be sure you haven’t skipped any of the previous steps so you don’t wind up selling the wrong candidate.

The hiring process is critical to the growth of a strong healthy business. Turning it into a systematic, incremental process can take the fear and anxiety out of the process. Having a system in place for making hiring a routine process will ensure you are not trapped with retaining poor performing staff because you fear having to hire replacements.

In order to determine which candidates are the right fit for your company, download and access your free white paper, 5 Guiding Principles For Recruiting a Star-Quality Team.

how to hire new employees

Strategic CFO Lab Member Extra

Access your Recruiting Manual Execution Plan in SCFO Lab. The step-by-step plan recruit the best talent as well as avoid hiring duds.

Click here to access your Execution Plan. Not a Lab Member?

Click here to learn more about SCFO Labs

how to hire new employees

See Also:

How to Run an Effective Meeting
How To Train People For Success
Future of the Accounting Workforce
Recruiting a Winning Team
How to form an Advisory Board
How to Hire a CFO Controller

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How to Hire a CFO Controller

How to Hire a CFO Controller

When you need to hire a CFO Controller, there are a few steps that you need to take prior to the actually hiring. Start the ad placement process by first asking yourself a few questions about your company. How does the company describe itself, its culture and industry space? What intangibles are you looking for? What sort of hard skills and experiences the position will require? You must be prepared to set expectations regarding the typical tenure and career track of that position as the company grows. Come up with a list of points to cover. Other issues to consider include the salary for the position, start date, travel expense for interviews, and relocation package. Ad Placement Options: Houston Chronicle, Monster.com

Accentuate the positives when writing the placement ad.

It is also important to manage your expectations in terms of the candidate pool. For instance, in a good economy it may not be so easy to get good candidates. Certain compromises on geographical search area, salary, and moving expenses may need to be considered. You may also need to clarify your stance on candidates with short work tenures (i.e. job hopping).

Filtering Resumes

Things to look for include: industry experience, education or Certification- CPA, MBA and specific experience sets (Ex: Systems Implementation, Financial Transformation)

Initial Screening/Phone Interview

After you have screened for your top candidates, you are now ready to begin contacting them and set up an initial phone interview. For out of town candidates, you may want to advise them of the company’s stance on interview travel expenses and/or relocation package.

Ask the following questions to candidates:

1. What are you looking for in a position?

2. Tell candidate about the position and the company

3. Would this be acceptable to you? Is this something that interests you?

4. What are your salary requirements?

5. When can you start?

6. Can you provide any references?

Summarize and review each candidate

Make sure to cover areas such as education, industry and work experience, salary expectations, etc. And then, identify the top 2 candidates from your round of phone interviews. Out of the total pool, prepare a list of 4-5 candidates for an office interview.

Office Interview

Start off by deciding who should be involved in the interview. Confirm open time windows in their schedules. Decide on the type of format that you would prefer: group or one-to-one? Start thinking about what you would like to see out of the interview.

On the candidate side, obtain the interviewee’s permission to contact their references. If they have not yet provided any, this would be a good time to ask for them.

Hiring Process

Once you determined whom you are hiring, you are now ready to begin the hiring process. Decide who should do the reference and background checks. When all reference and background checks have been completed, contact the candidate to inform them of their hiring status. Then go over the salary and benefits. Follow-up your conversation with an offer letter. Make sure that compensation is on a period basis versus an annual basis. Giving an annual pay may infer a contract which may open the company up for possible litigation in case of termination.

Background Check

There are a variety of companies that are able to conduct background checks on employment, criminal history, education, references and professional license status:

Here are some for your reference:

1. Kress Employment Screening

2. Choicepoint

3. ADP Screening and Selection Services

4. Personnel Profiles

5. Inquest

In order to determine which candidates are the right fit for your company, download and access your free white paper, 5 Guiding Principles For Recruiting a Star-Quality Team.

hire a cfo controller

Strategic CFO Lab Member Extra

Access your Recruiting Manual Execution Plan in SCFO Lab. The step-by-step plan recruit the best talent as well as avoid hiring duds.

Click here to access your Execution Plan. Not a Lab Member?

Click here to learn more about SCFO Labs

hire a cfo controller

See related article: How to Hire New Employees

See Also:
How to Choose An Independent CPA or Auditor
How to Control Audit Fees
American Institute of Certified Public Accountants – AICPA
How to Control Annual Audit Fees
How to create dynamic cash flow projections

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LEARN THE ART OF THE CFO