The Importance of Testing Accountants in the Recruitment Process
Filling a finance role can be a time-consuming and complex task for many companies. In a recent survey conducted by JasperRose, we discovered that interview processes for the search for a Qualified Accountant can extend anywhere from two weeks to 2 months, depending on the level and urgency of the position. Finding the right candidate who not only possesses the necessary technical skills but also aligns with the company culture can be challenging. In our experience, testing candidates at interview stage is paramount to ensuring you are hiring the best talent for the role. In this blog, we’ll explore some examples of testing used in the market for hiring Qualified Accountants, as well as the benefits of integrating this approach into your recruitment process.
Testing for Qualified Accountants
For qualified finance vacancies, companies typically employ four main types of assessments: psychometric testing, case studies, Excel testing, and pre-interview preparation questions.
Psychometric Testing
Psychometric tests assess a candidate’s cognitive abilities and personality traits. While applicable at all recruitment levels, we’ve found that many of our clients using these tests are hiring for senior finance roles, such as number 1 or 2 in finance. At this level, psychometric testing can effectively evaluate leadership qualities, strengths, and weaknesses. Importantly, these assessments are designed to be unbiased, ensuring that hiring decisions align with diversity, equity, and inclusion (DE&I) policies.
For instance, one of our clients recently employed psychometric testing when hiring for a number 2 position to their Finance Director. Before the final interview stage, the candidate completed a psychometric test, which was then discussed with the company’s Learning and Development Manager. During the final interview, the hiring panel compared the candidate’s testing results with those of the Finance Director, facilitating scenario-based questions to assess how the candidate would handle differing opinions in a professional setting.
Case Studies
In a case study interview, the hiring manager presents the candidate with a real-life working situation to analyse and resolve. As an example, a recent client of JasperRose asked the candidate to prepare a high level investment appraisal ahead of the interview. The candidate then presents their findings to the hiring manager, who will question them on their analysis.
Using case studies provides several benefits, including testing candidates’ commercial and technical skills, as well as their performance under pressure. This method allows interviewers to evaluate not only the candidate’s problem-solving abilities but also their presentation skills. For more senior roles, these presentation skills are vital, as candidates will often need to convey complex financial information to key stakeholders or senior managers outside the finance team.
Excel Testing
One effective approach we’ve seen to Excel Testing is where candidates are given a dataset during a Teams interview. They are then asked to analyse the data and answer specific questions within a 30-minute timeframe. Following this, the hiring manager re-joins the call, and the candidate is required to present their findings, showcasing their analytical skills, ability to work under pressure, and proficiency in Excel.
Excel tests such as these help employers to assess a candidate’s ability to manipulate data, produce meaningful insights and present data back to stakeholders.
Pre-Interview Preparation Questions
To find the right person for the job, it’s important to remember that the goal is to identify candidates who excel in their roles, not just those who perform well in interviews. Providing candidates with a set of questions to prepare in advance can alleviate nerves and allow them to thoughtfully articulate their skills and experiences.
This practice, already common for supporting neurodiverse candidates, is being trialled by companies like John Lewis for all interviewees. An inclusive approach demonstrates a commitment to providing equal opportunities for all candidates and enables a clearer representation of how they would fit into the team.
One of our clients has successfully implemented a preparatory approach by asking candidates to prepare responses to questions such as:
- How would you approach your first 90 days in the role?
- How would you handle a technical challenge relevant to the position?
- How would you lead the team to become a more lean and efficient function?
- How would you work with key business stakeholders?
Incorporating tests into the recruitment process for qualified accountants offers significant advantages, from ensuring competency and cultural fit to reducing the risk of hiring the wrong person for the role. By implementing psychometric tests, case studies, Excel assessments, and pre-interview preparation questions, companies can enhance their selection process and make more informed hiring decisions. As the finance landscape continues to evolve, these practices will be essential for attracting and retaining top talent in the industry.
If you are looking to hire a Qualified Accountant and need support or want advice on the most effective way of testing a candidate for a role you are recruiting for, please email us at [email protected]