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The risk and implications of employing the wrong candidate

Matching a job applicant to job requirements requires a high level of skill and expertise. If an applicant is placed in a job for which he is not adequately equipped, the consequences for the company are severe. For example, the candidate will not add value as required, become frustrated and lose self-confidence, there will be lost productivity, the quality of service to the company's clients will be poor resulting in dissatisfied clients, the reputation of the company will be tarnished and, ultimately, the company will fail to achieve its objectives.

In addition, there are Labour Relations Act consequences to which the company must adhere. If a recruiter does not have the requisite skills and expertise to assess the competency of a highly skilled candidate, it is like asking a carpenter to assess the dental health of a patient.

Such recruiters shoot in the dark and pray that they will hit a target. From experience as a fully-fledged financial management advisor, it has been found that a large number of recruiters fail to see a good match between job candidates and the job requirements. They either send the wrong candidate for an interview and thereby waste the time of the company, or they fail to see that a candidate reasonably fits the job profile.

A high level of business acumen and specialist skills needed

To reduce the risk of employing the wrong candidate, recruiters must have a high level of business acumen and specialist skills obtained through years of study and experience.

For example, if a company would like to employ an experienced financial manager, the recruiter must understand what constitutes a good financial manager, the qualifications and experience required, industry exposure, professional membership, continuous training and development.

The recruiter must also understand new trends in financial management, major events that impacted financial management, such as major corporate failures, high incidence of fraud and corruption in the corporate world, high levels of financial mismanagement, changes in accounting standards, new education and training requirements, laws and regulations governing financial control etc.

Landing the perfect job

If a recruiter was previously exposed in a senior financial management role, he will have a greater chance of success to match a candidate to the job requirements accurately.

Because of the training, skills and professional qualifications, the recruiter will be able to assess, with a high degree of accuracy, whether the candidate is suitable for the job. The recruiter will also use the job specification, industry knowledge, company strategies, and his high level of expertise to find a good match.

Such a recruiter may also advise the client/management about other issues relating to the candidate, position and other organisational consequences. The recruiter can also advise the candidate how to develop his career and improve future chances of landing the perfect job as the interview might have unearthed gaps in the candidate's knowledge and experience.

Employers are advised to use recruiters that have a high level of business acumen with specialised skills, especially in finance, accounting and risk management when recruiting finance, accounting and risk-management candidates.

Companies are under pressure to produce excellent financial results in the face of strong competition and a volatile business environment. Therefore, it is of utmost importance to attract and retain top performing candidates that will assist companies to achieve business and financial goals.

About Virgil Bethanie

I enable medium-sized and large businesses to improve performances, accelerate growth & create sustainable value.

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