Putting people first: human skills in finance recruitment

In today's competitive labour market, the demand for skilled finance professionals continues to outpace the available talent pool. To navigate this challenge effectively, organisations are advised to prioritise the selection of candidates based on their human skills. Robert Walters emphasises that while technical competencies can be developed over time, human skills are intrinsic and essential.

What are human skills, and why are they crucial in selecting finance professionals?

EHuman skills, essential for selecting finance professionals, encompass personality traits and character qualities that define individuals. These attributes, once termed 'soft skills,' include proactivity, collaboration, and effective communication, crucial for transmitting financial information clearly. Finance professionals collaborate closely not only with their team, but also with colleagues across various departments.

Moreover, flexibility and adaptability are paramount, given the rapid automation and digitization in organizations. Candidates must adeptly navigate evolving working methods and anticipate organizational changes in today's dynamic financial landscape.

How can employers effectively assess human skills during the hiring process?

Employers can utilize targeted, behavioural questions known as competency-based questions during interviews. These questions delve into specific work scenarios where candidates have applied these human skills. Additionally, conducting role-plays can offer valuable insights into candidates' reactions to realistic work situations. Observing non-verbal communication is essential for assessing social skills and stress management abilities. Furthermore, thorough reference checks with former managers provide valuable perspectives on candidates' work ethic and team dynamics.

While references are just one aspect of the selection process, they contribute to forming a comprehensive understanding of the candidate's capabilities.

Are employers adequately integrating human skills assessment into their recruitment process?

Employers are increasingly realising the challenges of finding ideal candidates solely based on technical expertise. If they do find them, the salary expectations are often not compatible with what the organisation is able to offer. As a result, they are adapting their recruitment strategies to prioritise human skills, acknowledging their pivotal role in fostering innovation and resilience within finance teams. 

What strategies can employers implement to attract top finance talent?

To attract and retain finance professionals, employers should adopt various strategies. These include providing ongoing training opportunities, defining transparent career progression routes, and nurturing transparent communication channels to grasp employees' ambitions and inspirations. 

Incorporating flexibility into work structures like offering remote work alternatives and adaptable schedules, not only heightens employer appeal but also fosters a harmonious work-life balance.

By harmonising recruitment strategies with a focus on human skills and catering to the changing needs of employees, organisations can establish themselves as sought-after employers in today's competitive finance sector.

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