4 Ways a Slow Hiring Process Can Hurt Your Financial Services

Recruiting Strategies, Recruitment, Recruitment Process Outsourcing

“I’ll know it when I see it,” is a common refrain from hiring managers in all industries, including financial services. But that kind of laissez-faire attitude about hiring can be extremely detrimental to your company, slowing down the process and in turn costing you time, money, and resources. In a time when the financial industry remains highly competitive—and candidates have plenty of options—you need to act quickly if you want to secure top talent. If you draw out the hiring process because you keep looking for that “special something” in someone, you unwittingly limit your candidate pool and end up missing out on high-quality candidates. In fact, a slow hiring process can have several real, measurable consequences on your financial organization. Here are just some of the negative effects a slow hiring process can have on your business.

  1. The loss of top candidates

The truth is, when you wait to make a hiring decision because you hope that a “better” candidate comes along, what you’re really doing is alienating the good financial candidates you met with at the beginning. Job seekers don’t put their search on hold, and while they’re interviewing with you they’re also interviewing with your competitors. If you see someone who checks most of your boxes but think you need to see what else is out there, it might be time to reconsider that impulse. Remember: regardless of the economy, finance as an industry continues to be extremely competitive, and the people your interviewing are not necessarily short on options.

  1. The cost of not filling the role

Of course, the time to hire someone also takes a toll on the rest of your financial services. Who is doing the work that should be handled by this employee? Are other employees taking up the slack? Does that mean the productivity levels for their other duties are decreasing? The longer they need to do this, the less productive they’ll be over time. If they see that finding help for their department doesn’t seem to be a priority, they may also become dissatisfied in their own positions and look for new jobs. There are also compliance issues that need to be addressed when it comes to data security and customer privacy. Not having a dedicated professional in your open role could open your organization up to vulnerabilities or data threats.

  1. A lack of excitement for the job

When you wait on a hiring decision, you’re also creating a domino effect of waning excitement. Active financial job seekers are regularly returning to online job boards and social media to see what the market looks like. Imagine you’ve applied for a job and were told you were a good candidate. Then you didn’t hear anything from the company. What happens when you review their website and see the position is still open? You’re much less likely to be interested in the position due to lack of follow up from the hiring managers.

  1. A negative impact on customers

While your employee productivity levels are just one way you see the cost of not hiring for an opening position rise, that open seat will also quickly impact your customers. If your financial services aren’t being provided at the level your customers have come to expect, they will begin to wonder why. If they don’t find another service provider right away, they may begin talking about your quality of work with others, which can impact your reputation in the finance industry. Your customer expectations are a top priority, and not filling this role can definitely affect their experience.

Are you concerned about the high cost of a drawn-out hiring process in your financial services company? Talk to the team at US Tech Solutions to see how we can help you source and hire strong professional finance candidates.

123 thoughts on “4 Ways a Slow Hiring Process Can Hurt Your Financial Services”

  1. laurabS9271VY says:

    I will immediately snatch your rss feed as I can’t to find your e-mail subscription link or newsletter service.
    Do you have any? Please let me realize in order that I may
    just subscribe. Thanks.

  2. peter11137 says:

    I have been browsing online more than three hours today, yet I never found any interesting article like yours.

    It is pretty worth enough for me. In my opinion, if all web owners and bloggers made good content as you did,
    the net will be much more useful than ever before.

  3. Carla0004 says:

    Hello would you mind sharing which blog platform you’re using?
    I’m going to start my own blog soon but I’m having a tough time
    making a decision between BlogEngine/Wordpress/B2evolution and Drupal.

    The reason I ask is because your layout seems different then most blogs and I’m
    looking for something completely unique. P.S My apologies for getting off-topic but I had
    to ask!

  5. travelreimagined_jen says:

    It’s perfect time to make some plans for the future and it’s
    time to be happy. I’ve read this post and if I could
    I wish to suggest you few interesting things or advice.
    Maybe you can write next articles referring to this article.
    I want to read more things about it!

  7. thomasrN8381QH says:

    I really love your website.. Excellent colors & theme.
    Did you make this site yourself? Please reply
    back as I’m trying to create my very own site and would love to know where you got
    this from or what the theme is called. Thanks!

  8. Frontcrawl says:

    I just could not depart your web site prior to suggesting that I extremely loved
    the standard information an individual supply in your guests?

    Is gonna be again continuously in order to investigate cross-check new
    posts

  9. Marj343 says:

    Hi there! This post couldn’t be written any better!
    Going through this article reminds me of my previous roommate!
    He always kept preaching about this. I will forward this information to him.
    Pretty sure he’ll have a very good read. Thanks for sharing!

  10. SimonSays93 says:

    I’ll right away clutch your rss as I can not find your
    e-mail subscription hyperlink or e-newsletter service.

    Do you’ve any? Please allow me know so that I may subscribe.
    Thanks.

  11. cube1958 says:

    Hello, i read your blog occasionally and i own a
    similar one and i was just curious if you get a lot of spam comments?
    If so how do you protect against it, any plugin or anything you can recommend?

    I get so much lately it’s driving me mad so any support is very
    much appreciated.

  17. jkhoovs says:

    Thanks for the unique tips provided on this blog site. I have seen that many insurance companies offer shoppers generous savings if they favor to insure multiple cars together. A significant variety of households have several cars or trucks these days, in particular those with mature teenage children still dwelling at home, and the savings upon policies may soon increase. So it pays off to look for a bargain.

  18. Peter_R_Bris says:

    It is the best time to make some plans for the longer term and it is time
    to be happy. I’ve learn this publish and if I may just I wish to
    recommend you some fascinating issues or advice. Maybe you
    could write next articles regarding this
    article. I desire to read more issues approximately it!

  24. Mollfath says:

    I have been browsing online more than 3 hours today, but I by no means found any
    interesting article like yours. It is lovely value sufficient for me.
    Personally, if all website owners and bloggers made excellent
    content as you did, the web will likely be a lot
    more helpful than ever before.

  30. will keflex treat mrsa says:

    I have observed that service fees for online degree experts tend to be an awesome value. Like a full College Degree in Communication in the University of Phoenix Online consists of Sixty credits at $515/credit or $30,900. Also American Intercontinental University Online comes with a Bachelors of Business Administration with a whole study course feature of 180 units and a price of $30,560. Online studying has made taking your higher education degree been so cool because you can earn the degree from the comfort of your abode and when you finish working. Thanks for all tips I’ve learned through your website.

  37. Cheap Jerseys Free Shipping says:

    Michigan Attorney General Bill Schuette is scheduled to detail the charges at press conference in downtown Flint on Wednesday. Wins and losses often appear in streaks, and it is often worthwhile to ride out a hot streak.Even Mao Xinyu, Mao’s corpulent grandson and a major general in the People’s Liberation Army, has given him his blessing, saying he was “very satisfied” with his performance, Xu said.That and strong performances in iPad and Mac sales in the quarter lifted the company’s overall growth to 7 percent yearonyear. The general rule to follow with exercise equipment is to make sure you know how it should be used and to stick to this.
    Cheap Jerseys Free Shipping http://www.wholesalenfljerseyscheap.com/

  38. becca_luna says:

    There are some of you out there who probably haven’t heard of http://www.camgirl.pw This is one of those must see sites. It’s full of extremely attractive ladies. You’re going to want to put down your sandwich when visiting this site. It’s impossible to focus on anything but the babes they have to offer.

  42. amandateasing says:

    The week has just begun and that means it’s time to relieve some stress. You’ve got plenty of work ahead of you. You’ll need all the relaxation you can sneak in. No one can melt the stress like a cam girl can. At http://www.camgirl.pw you’re sure to find a cutie that will make you forget all about whatever was stressing you out.

  48. myalennon says:

    Right now you could be having a whole lot of fun. All it takes is visiting http://www.camgirl.pw There’s no site out there more fun than that one. It’s loaded with girls who know how to treat a man right. They’ll make sure your day is a very good one.

  50. Jimmie Gay Cam says:

    Cool one! Interesting article over this website. It is pretty worth enough for me. In my opinion, if all webmasters and bloggers made good content as you did, the internet will be a lot more useful than ever before.| I could not resist commenting. I ‘ve spent 1 hour looking for such tips. I will also share it with a couple of friends interested in it. I have just bookmarked this website. Right now with the job done, I going to enjoy some online Webcams. Danke!! Greetings from Barcelona!

  60. Noble Escott says:

    “Best Blogpost! Hi there! This is my first comment here so I just wanted to give a quick shout out_ and tell you I genuinely enjoy reading through your posts. Can you recommend any other blogs/websites/forums that deal with the same topics?”

  62. graphic design says:

    What you posted was very logical. However, consider this, what if you wrote a catchier title? I am not saying your information is not good., but what if you added something to maybe grab people’s attention? I mean is kinda plain. You should glance at Yahoo’s front page and watch how they write article headlines to grab viewers to open the links. You might try adding a video or a related picture or two to grab people interested about everything’ve written. Just my opinion, it could make your website a little bit more interesting.

  66. kiranightlyxo says:

    You’re in some serious need of relaxation. That’s where a site like http://www.camgirl.pw comes in handy. You can do a whole lot of relaxing there. You’ll find plenty of fun girls to talk to. These are the hottest and most wild girls on the internet. Chat with them and have yourself a good time.

  67. Novias Mundial Cams says:

    Simple and easy!! Interesting tips over this website. It is pretty worth enough for me. Personally, if all website owners and bloggers made good content as you did, the web will be much more useful than ever before.| I couldn’t refrain from commenting. I ‘ve spent 3 hours searching for such informations. I will also share it with a couple of friends interested in it. I’ve just bookmarked this web. Right now with the task done, I will visit some Russia model Cams. Gracias!!! Regards from Mundial 2018!

  70. natynaty says:

    You’ve been working hard lately. All that stress has got to be eating at you. Why not take a break and enjoy some cam girls? There’s plenty of them to enjoy at http://www.camgirl.pw It’s wall to wall babes at this site. You’ll know that right away after your first visit.

  91. andrew strutt says:

    andy strutt DOB 6/3/1975 sprint phone 312-917-5986 google voice 702-514-0650 works at leidos cyber has raped 2 girls at defcon hacker conventions. astrutt wife Sichan Li is in the United States illegally. andy strutt has an undiagnosed psychiatric disorder from a head injury. astrutt has taken money from Lebanse Intelligence Officer and recently arrested hacker and owner of Krypton Security Khalil Sehnaoui. andrew strutt accepted a hotel suite in Las Vegas in 2015, 2016, and 2017 in excess of $2,000 a night from Khalil Sehnaoui. andrew strutt wife is a former reporter and Chinese Communist Party reporter. astrutt wife has access to his secret material.

  96. andy strutt says:

    andrew strutt is a bipolar rapist psychopath DOB 6/3/1975 has raped 2 girls at HOPE hacker conventions. andrew david strutt wife Sichan Li is in the United States illegally. andy strutt has an undiagnosed psychiatric disorder from a head injury. andy strutt has taken money from Lebanse Intelligence Officer and recently arrested hacker and owner of Krypton Security Khalil Sehnaoui. r0d3nt accepted a hotel suite in Las Vegas in 2015, 2016, and 2017 in excess of $2,000 a night from Khalil Sehnaoui. andrew david strutt wife is a former reporter and Chinese Communist Party reporter. r0d3nt wife has access to his secret material. sprint phone 321-917-5986 google voice 702-514-0650 works at leidos

  116. eebest8 best says:

    “I do not even know how I ended up here, but I thought this post was good. I don’t know who you are but definitely you’re going to a famous blogger if you aren’t already 😉 Cheers!”

  117. Make Money Promoting ClickBank says:

    Did you know that people make their entire income promoting ClickBank? You too could be one of the many who have quit their job. Affiliate marketing is as old as the internet. It’s not going to go away any time soon. You too can get your piece of the pie. Why shouldn’t you? Do you really like working the job you have? Are you going to be able to do it until you retire? If you’re job requires physical labor, then you know the answer to that question. There’s no way you’re going to be able to do that when you get older. That’s just the truth and no one needs to tell it to you. Right now you could be making money online. Does it require work? You better believe it does. No honest person is ever going to tell you that it’s possible to become a millionaire online without doing any work whatsoever. It’s not possible. That doesn’t mean there isn’t money to be made. There’s plenty of money out there to be made by people just like yourself. Now you know there’s going to be a pitch for a product. You’re right about that. Click on the link http://64efd6-lz41s3rcelbr7s2xl7x.hop.clickbank.net/ and check it out. There’s a video you can watch that will explain everything. It will tell you how to make money using ClickBank. Watch the video and see what you think. You too can be one of the many who earn a living promoting ClickBank. Some people earn a good living and there’s no reason why you can’t.

  119. Learn how to become a millionaire says:

    Just imagine for a second if you could get into the mind of a millionaire. Think of all the things that you could learn. Well, you actually can do just that. A millionaire is giving away all of his secret right on the internet. You don’t even need to leave the house to learn what made him rich. All it takes is visiting http://e31a67zd-ccr7u13el2cflqp0d.hop.clickbank.net He will literally teach you all of the secrets to making money. Don’t you think it’s time that you earned the living that you deserve? Change your life today by simply following the link above. Do it for yourself and everyone that you care about.

  121. Make money with social media says:

    Are you the type who likes to hangout on social media? Have you ever thought about making it a career? You can help promote their business using social media. This means you can do what you already love doing and make money at it. Does this sound like something you’d like to do? If so, then check out http://d526fc0l5b3nfyfg3bx3sfpbkq.hop.clickbank.net/ You can help people and make some money in the process. You already hang out at social media sites. Why not make a few bucks doing it?

  122. skyewatson says:

    Just when you think the work week can’t get any more boring. That’s when you discover http://www.camgirl.pw Now you can already begin to see that this week is going to be a whole lot better. There’s no need to be bored as can be while you work. Sneak in a little fun with one of these cam girls. They’ll put a smile on your face and a some lead in your pencil as well.

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>