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Taking Risks in Recruitment

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11 months ago

by Tom Cory

Taking Risks in Recruitment

Following on from a previous blog on upskilling, I wanted to focus on taking risks, both in finance and recruitment. In these fast-paced industries, taking calculated risks can be key for achieving success.

When I decided to move from commercial finance to transactional finance, it was a decision I was not 100% on board with as it meant building almost from the ground up and having to learn to work in a more fast-paced (in recruitment terms) market with totally different skills required. However, it has been a great change, it allowed me to improve my skillset and become a better consultant; whilst also allowing us to bring in fresh talent to the team, who have adopted the market incredibly well. The integrated training provided at IN2 Consult, alongside support from my team, allowed me to upskill and build on what I already knew, adapting it to suit the new market while also learning where the two markets differed and how to tailor my role as a consultant to suit the needs of my new clients and candidates.

In the recruitment industry, taking risks can lead to great outcomes. Hiring decisions by management based solely on safe and familiar choices may limit diversity and innovation within teams in terms of background, skillset, and process. By embracing risks, managers can nurture talent that brings fresh perspectives and a new skill set to the table and this applies to Finance teams too. Taking a chance on candidates who demonstrate potential but may lack extensive experience can lead to real success of the organisation. Providing regular training and support to your future talent means they can develop and learn aligned to your business goals and internal processes and progress in their professional and personal development.

Usually, the greater the risk, the greater the reward and this applies to all industries, including Finance. However, risk needs to be managed effectively so outcomes can be somewhat predictable. By doing the research and making informed decisions, you set yourself up for some serious success. However, if too great a risk is taken, or the risk/reward ratio isn’t realistic you can end up making poor decisions and do more harm than good to your team or your future development. So, ensuring you know the possible outcomes, how they might affect your business and that you have a proper hiring and training strategy in place, your future talent will lead to success. ​

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