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Advancing technologies mean greater challenges for businesses but also opportunities – those who adapt to an increasingly digitised world will become stronger during this period of transformation, with those that fail to do so being left behind.
The short to medium-term future will see an abundance of ‘big’ data, increased automation, cloud technologies and Artificial Intelligence (AI), rendering many traditional ways of conducting business obsolete. Those who fare best during this time will be driving forces of change, rather than following and therefore at the mercy of developments.
This means understanding which technologies are best for your business, how to make them work for you, and ensuring a dynamic workforce with the adaptability and knowledge to navigate this digital world.
All parts of your business will be impacted and, therefore, need to rise to changes in finance and accounting tech including Finance and Accounting recruitment, so make sure your recruitment strategy incorporates this.
The challenge is that technologies are evolving all the time. What’s important is having the right people in your organisation who are able to evolve with these changes, over and above specific software knowledge.
Make sure there are people within the business whose job includes staying abreast of relevant technologies that will mean better ways of working (both internally and with clients or customers) and reduction of time and money spent. The best finance and accounting tech should be relevant now and should be future-proof for your business.
Tech-savvy candidates with strong critical, creative and problem thinking skills will be in high demand and therefore able to select the best roles on the market, so make sure you are in a position to attract and also retain them.
This will mean utilising recruitment technologies to nurture talent pools to keep abreast of and network with the best candidates, whether they are actively looking or not. This will mean greater chances of successful recruitment each time, rather than hiring from scratch every time.
Engage with specialist recruiters who have networked access to a large number of high-quality candidates, and with both strategies ensure you are promoting a positive employer brand throughout the attraction, hiring and onboarding process, including candidates you don’t hire there and then.
As with elsewhere in the business, data and analysis will help streamline your recruitment function. This may include elements such as time to hire, where your hires are sourced, maintaining candidate information for future recruitment marketing, and so on.
HR and line managers should be willing to accept, or even promote, mixed interests from staff. Firms that allow staff to express their interests and ambitions beyond their current level or department will fare better than those that wish to keep employees in rigid positions. Given the ‘job for life’ concept has become outdated with the rise of the ‘Gig economy’, employees - and millennial employees in particular - are much more interested in job fulfilment and development. This adaptability suits businesses too, as multi-skilled, adaptable employees are much better suited to the changing business landscape.
Implementing finance and accounting tech successfully requires pooling skilled resources, including utilising interim support staff with the technical know-how not necessarily already within the business. It may be you will find interim executives useful when you are deciding which technologies to adopt as many interims are particularly skilled at deploying new technologies and specialise in tech consultancy.
At Edward Mann we can help you shape an effective and inclusive recruitment strategy. Through our database and deep networks, we are able to source high-calibre temporary, interim or permanent candidates from diverse backgrounds to suit the specific needs of your business and create an inclusive workplace. We also have the expertise to advise you on how best to leverage AI to create an inclusive hiring process.