Many of our PE-backed clients experience rapid change as a result of rapid growth, often due to a ‘buy and build strategy’.

In the current competitive market finding high-calibre talent can prove challenging. the question is what can be done to increase your chances of finding the right individual to suit the needs of your business.

The job market for finance professionals, let alone those with PE exposure, is candidate-short, set against the backdrop of a record-breaking cost of living crisis. If you are struggling to fill your finance jobs, then you aren’t the only one.

Same Role, Different Title

The first part of any job description a candidate will see is the title. They will skim the responsibilities, the requirements too, but the title will have the strongest impact. Without changing the role’s duties, its necessary skills, or its position in the reporting structure, you can attract more and better talent. Sounds too simple to be true! But it's a big factor in attracting people's attention.

An example would be “Senior Management Accountant.” I have seen clients struggle to hire for this role. You will find that the candidates thought the role sounded too junior. The fix - market the role as a Finance Manager to get a better result.

A job title must do more than reflect the work being done – it must attract the type of candidate who can do that work. If you’re having trouble, a recruitment consultant can help you re-align it with the talent you need.

The PE Focus on ACA, Big 4 or Top 10

A common misconception is that the “best” candidates have always been ACA-qualified, audit-trained Big 4 or Top 10 accountants.

Due to the well-documented shortage of practice-trained candidates in the UK market, many firms of chartered accountants rely upon overseas partner firms to supply qualified accountants to meet their growing requirements. As a result, most Top 10 firms have a large proportion of their staff who are on Tier 2 visas; therefore making it challenging for many employers to consider them for roles.

Taking somebody from a smaller Top 50 and Top 100 practices, offer a budget alternative – these accountants may not have handled the same workload, and may lack audit experience, but they are more affordable and more plentiful, while retaining the broad finance competency.

Same Skills, Different Experience

Finally, one more sticking point is PE experience. For many PE entities, past experience of PE owners is essential. However, if you need experience, then your candidate pool is significantly reduced

The advice here is twofold: first, while many will myopically focus on what makes PE different to other structures, you should look at what is actually similar – The demands of reporting may be more extensive, and the exposure of your FD or FC to the owners may be a little more extensive, but there are complex, busy companies out there that may not be PE, but they have similar demands and pressures. Equally, you may want a fresh eye! An FC who can come in and break with the conventions using their experience, and implement improvements to processes and procedures that will make things more effective. If you want to discuss alternatives to PE experience, a recruitment consultant can give you valuable alternatives you may not have considered.

Conclusion

If you are struggling with recruitment for a finance role in PE, then reading this article is a great first step. Opening your eyes to other, possibly better options will help find talent faster, and even put you a step ahead of every other hiring manager. In a fast-moving, candidate-scarce job market like the one we find ourselves in, lateral thinking, flexibility, and critical thinking are the skills that will help.

Savant Recruitment Experts has a dedicated team of Finance specialists, backed by market research, possessing extensive experience and expertise in talent solutions. If you are looking to build or expand, we can offer you our support with the best talent in the industry and market-leading onboarding advice and consultation. To know more about how we can assist you, please reach out to us at - finance@savantrecruitment.com