Among the professional positions within a business, finance and accounting are one of the personnel groups that directly influence the accuracy of operations and the ability to control risks within the enterprise.
And that's why hiring the wrong person for these positions… isn't simply a loss of an employee — it can disrupt the entire financial management system, putting the business at risk or leading to poor decisions due to unreliable financial information.
From advising hundreds of businesses, we have identified several common recruitment risks when companies recruit finance and accounting personnel themselves without professional support, as follows:
🎯 There is no clear and precise job description.
The recruitment process dragged on but yielded no results.
Some businesses fall into a vicious cycle:
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Posting job openings → few applicants → unsuccessful candidates called for interviews → wasted time → then… just hiring "someone for the sake of it".
While, The essence does not lie in the candidate market., which is due to:
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JD is unknown.
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The recruitment message is not tailored to the target audience.
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There is no early assessment system (screening).
✅ Solution: There is an early screening process (CVs, tests, preliminary interviews) and a systematized criteria for evaluating competence.
🎯 The exact position to be filled has not been identified.
Hiring for the wrong position – assigning the wrong role.
A common risk is that businesses hire for the wrong role, for example, expecting a general accountant to also handle finance, taxes, and cash flow management, or expecting a chief accountant to handle invoicing, revenue and expenditure management, and inventory management, when they should be managing finance and cash flow.
In fact, in many cases, companies hire an internal accountant but expect them to "establish a perfectly functioning accounting system."
Job Ambiguity in classifying positions and corresponding capabilities This is the main reason why recruitment has not met expectations.
✅ Solution: Thoroughly review job descriptions and accurately define the scope of responsibilities for each position before beginning the recruitment process.
🎯 The candidate screening process was not properly designed.
Misjudging competence due to an "impressive resume" or "good interview"
Many managers hire based on general management experience, but lack of a technical frame of reference To recognize who the truly capable people are.
Many candidates may present fluently and "check all the checklists," but when it comes to processing data, reconciling records, and preparing tax reports, their professional shortcomings become apparent.
✅ Solution: Design realistic tests, or have someone verify professional competence during the recruitment process.
🎯 Offering a salary policy that is not appropriate for the job position.
Salary negotiations do not reflect actual abilities.
Many managers without specialized expertise are easily "led astray" by the market salary offered by candidates, without having sufficient grounds to assess it. Is that salary truly commensurate with the skills and job responsibilities?.
The result is:
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Paying excessively high salaries to unqualified individuals leads to increased costs and creates a psychological burden.
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Paying talented people too little will either deter them from joining, or they will leave quickly once they do.
✅ Solution:
- Understanding the job market in the finance and accounting industry.
- Use the 3P compensation framework or a performance-based evaluation system instead of emotional negotiation.
Conclusion: Recruiting the right finance and accounting personnel is not just a human resources issue, but an operational control issue.
Recruitment risks in the finance and accounting industry are not immediately apparent, but they have significant, underlying consequences: from data inaccuracies to loss of internal trust and flawed operational strategies.
That's why we built specialized recruitment support services to help businesses. Hire the right people, assign them the right jobs. , and Pay salaries that match abilities.This helps businesses recruit finance and accounting personnel who are suitable for the specific characteristics of finance and accounting positions. Minimize recruitment risks..