Badenoch + Clark helps you navigating the choppy waters of recruitment

Writer Laura Campan

On 1 December, the finance community met at the European Convention Center Luxembourg (ECCL), in Kirchberg, for an exclusive awards’ ceremony and networking cocktail. How about jumping on the opportunity to further discuss the natural yet challenging steps finance is taking towards innovation with this new edition’s winners?  

This week, we were pleased to welcome the Finance Talent Sourcing Solution Award’s winner, Badenoch + Clark, for the first episode of our #FinStory series.

While the Great Resignation is taking root around the world, recruiting has become more challenging than ever. Which is the most affected sector in finance? 

Experienced professionals with 3-5 years’ experience in financial accounting or audit and governance remain a regular recruitment need. They have been historically in high demand but their expectations nowadays, in terms of remuneration, quality of work and working conditions are making it even more challenging for employers to attract them.

Candidates’ expectations have dramatically changed over the past few years. How did you adapt your recruiting approach to these new values and ambitions?  

As a trusted advisor, it is our role to inform the companies recruiting with those changes of expectations from the professionals they are aiming to hire.   

Regarding professionals aiming for new values and ambitions, we support them by reminding them of the importance of assessing first the environment they will join, before any other element, to make sure this meets their personal values and interest and can also offer the working environment and career path they are aiming for. This is also where we have an added value being able to share with them this information prior to any interview by really knowing our client.

New talents are no longer (only) attracted by a nice salary and benefits package. Do you believe companies could turn the tide by focusing on new career development opportunities? 

Not everyone is aiming to become an MD or a CFO someday. It is important for employers to well understand the motivations of the professionals they meet in interviews. We hear more and more questions on the actions taken by employers to meet personal convictions on ESG, sustainability finance or diversity.  It is essential to be transparent on the real values the company applies in Luxembourg, the career path the professional will be offered and to put in place a close management process. A qualitative working environment is also becoming a key criteria for employees aiming for more flexibility and more facilities at work.

How important is it to follow a candidate’s evolution after being on-boarded? Is it part of a broad coaching and assessment process? 

It is essential if you are aiming for a long-term recruitment. We support the recruitment processes through the recruitment itself but also during the trial period that follows to ensure the communication between the new employee and their new employer is successful. It is a big change and sometimes needs coaching on both the employee’s and employer’s sides. After this period, we encourage the employer to pursue a regular coaching and assessment process, internally, to guarantee a long-term commitment and successful collaboration with the new employee.