Why a Diverse Workplace Is Necessary in the Financial Sector

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Diversity is an important element of any company. Employing professionals with various backgrounds provides many benefits to an organization. This is especially true in financial services. Here are four reasons a diverse workplace is necessary in the financial sector.

  • Recruit Top Talent

Focusing on diversity is imperative for hiring the most skilled financial professionals. Due to the continually changing economic climate, firms need to hire and retain the most qualified professionals to remain competitive. Hiring for diversity provides access to a wide range of candidates with the hard and soft skills and experience necessary to increase a firm’s market performance.

  • Cultivate Client Relationships

When financial professionals embody the behaviors necessary for serving a diverse population, they can enter into new markets and increase a firm’s revenue. For example, although women control a substantial amount of money worldwide, their demographic remains relatively untapped by the financial services industry. Not only do a significant number of females not have a financial advisor, a substantial number who do have an advisor feel their advisor does not understand their objectives. Therefore, by having a diverse group of financial advisors, a firm is better equipped for communicating with clients to determine their needs and wants and build trust. Clients will take a more active role in asking questions, choosing their investments and planning their financial future when they feel heard and respected.

  • Fill Client Needs

Because the global population is growing in heterogeneity, having a diverse workforce that anticipates market shifts and the needs and wants of clients provides a competitive advantage. Therefore, it’s important that a firm’s representatives reflect the clients they serve. For example, because female executives tend to more clearly understand the financial needs of female business owners and consumers, firms should be hiring more female executives.

  • Innovate

Hiring for diversity promotes innovation. Having professionals with varying backgrounds provides a strong foundation for solving complex problems in more efficient and effective ways. By encouraging the exploration of unconventional ideas and providing the resources to make those ideas viable, financial professionals desire to further contribute to the firm. As a result, new products and services are created, new markets are captured and revenue streams grow.

For assistance finding staff members or securing a role in finance, accounting or audit, contact WinCorp Solutions today.

The Questions You Need to Be Asking As a Small or Mid Size Business Owner

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As a small business owner, you can’t afford to make a bad choice when it comes to hiring new staff. A ‘bad hire’ can cost you valuable time, money and mis-hire carnage.

No small business stands alone; the best small businesses are collaborative ventures. And that means the best candidates must be strong team players, willing to do what is necessary to reach a project goal or other business deliverable. But teamwork and an entrepreneurial and independent spirit can be challenging to identify on a resume. What questions should you be asking during the interview process to ensure you are choosing the right candidate?

Question #1

When do you do your best work – when working as part of a team or working alone on a single task or assignment.

We all enjoy a little peace and quiet every now and then. And intentional solitude has been proven to boost productivity, but if you’re interviewing a candidate who prefers isolation over teamwork, chances are they’re not the team player your small business needs.

Question #2:

What do you know about this company and why do you want to work here?

This question shows whether the candidate did research on your company. It is a great way to gauge their interest in the position and the organization. An individual who does their research before the interview will stand out as a more informed and competent candidate.

Question #3

Ask your candidate to describe a successful project they worked on, what their role was, and why the project was ultimately successful.

If a candidate quickly tells you about their personal achievements –  and why their role was vital to the project’s success – chances are they’ll be better suited to a position requiring less team focus.

But if the candidate was keen to elaborate on details about the project team – highlighting group actions and collaborative successes – you’ve just identified an ideal team player.

Question #4

We’ve all experienced conflict at some time. Anyone can have a bad day. And while conflict may be unavoidable, how someone chooses to deal with that conflict reveals a great deal about who they really are.

Ask a candidate to describe a situation where they had to deal with conflict and how they resolved the issue.

Did the candidate talk about something that happened months or maybe even years ago – but with very real, very current emotion? If they did, it’s a big red flag. A candidate who displays an emotional response to a work-related conflict is giving you a clear signal that they have a limited capability to thrive in group settings.

But, if your candidate was quick to describe something that happened in an even manner without overt sentiment, they’re demonstrating a strong ability to step aside from personal emotions and focus on moving forward for the benefit of the team. And that’s something only a great team player will do.

Knowing the right questions to ask a candidate can be tricky! If you run a small business, you can’t afford to hire the wrong person; you need to be confident your next employee is the right person for the job. And that’s where the specialized recruiters at WinCorp Solutions can help. They’re specialists, just like you are. Reach out to the team today and let them help you find your next SBS (small-business-superstar).

Interview Mistakes You’re Making That Are Costing You Your Dream Job

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You’ve had plenty of interview chances, but you haven’t landed your dream job. These mistakes during the interview could be what are costing you job offers.

Here are four of the most common interview mistakes that can cost you your dream job.

One Word Answers

No one likes a chatterbox but the opposite can be just as detrimental. An interview is your chance to shine and sell yourself, letting the hiring manager know why you’re the perfect person for the position. But even if you’re nervous you’ll need to push through and answer with more than just a yes or a no. Provide answers that are thorough, demonstrating your skills as they relate to the job. Employers prefer critical thinkers, so be sure to provide thoughtful answers. Providing a specific past work experience as an example is also a strong answer.

 

Negativity Towards a Former Employer

You might not have enjoyed the time you spent with a particular company – and you may have good reasons to feel that way – but keep your opinions to yourself during the interview. Running down a former employer casts a shadow over your application and interview. Not only does it make you look unprofessional, but may suggest that you are negative as well.

 

Failing to Ask The Interviewer Questions

It might feel like an interview is one-sided with the interviewer asking all the questions, but that isn’t the case. A good interview is a two-way street and you’ll stay on the hiring manager’s radar if you ask engaged questions. This not only shows you’re interested in the position, it also shows you’re already investing time and energy into the company. Consider asking a few smart questions about the company’s plan for the future, or current projects. You can ask a question such as, “What are some challenges the company has faced due to industry trends and/or changes?” By asking a mixture of hands-on job related questions and inquisitive questions, you are showing the interviewer you have multiple perspectives and dimensions.

 

Forgetting to Follow Up

If you’re like most people, you probably feel a great sense of relief when you walk out of the interview. But don’t call it a day yet, because you’re not quite finished. Following up after an interview is an important part of the entire interview process. So send a quick email to your interviewer thanking them for their time and interest in your application. And don’t forget to include a comment about being interested in the position. It’s a simple, easy way to remind the hiring manager you want to work with their company.

 

Preparing for an interview might seem overwhelming, but it doesn’t have to be. If you think you would benefit from a little interview prep or would like to explore current vacancies, reach out to the specialized recruiters at WinCorp Solutions. Their team of staffing experts are ready to help you land your dream job. Get in touch today.