Why You Should, and How To
Compliance officers are in demand. With a growing number of regulation changes and the increase in the complexity of compliance tasks, companies are scrambling to find qualified individuals to fill their compliance positions.
KPMG’s report ‘Ten key regulatory challenges of 2021’ fully describes the key areas that firms should focus on. Skills and responsibilities in compliance are undoubtedly expanding. Yet, companies are finding it difficult to hire compliance professionals from a limited talent pool.
Could recruiting work-from-home compliance officers be the solution to finding the talent you need? We think so. Heres’ why, and how to do it.
Why Recruiting for Remote Is a Great Solution
The Bureau of Labor Statistics projects a 4.6% employment growth for compliance officers between 2019 and 2029 – that’s just over the average rate for all occupations, with 15,600 new compliance jobs created. The problem lies within the talent available to fill these positions to meet demand.
In a business world that is increasingly globalized, international corporations are facing a skills shortage in their compliance departments. To maintain regulatory standards, businesses need skilled employees to monitor and enforce compliance issues, yet struggle to find them in an increasingly competitive job market.
A skills shortage is a common issue that many companies face, causing them to lose talented people. Technology has enabled remote workers to be hired from any location.
Employing remote compliance officers is a cost-effective solution to discover and access the talent and skills you need. The flexibility that comes with remote work also widens your talent search to those who require a more flexible schedule.
(Note: If you’re not sure how working globally will affect you legally, check out our article for reassurance here.)
How to Recruit for Remote Compliance Officers
Here’s what you should implement in your hiring strategy for remote compliance officers:
● An Accurate and Compelling Job Description
Make it clear that the position will be remote. Besides technical ability and qualifications, certain skills will be required for a candidate to excel in a remote position, such as:
- Advanced technical and organizational skills
- Good self-management skills
- Excellent communication skills
The candidate must also be willing to collaborate with teams and adapt to changing work processes and communication channels. They’ll also need to be punctual for meetings, ensuring time zones are accommodated without imposing issues. Highlight your company’s values and culture, and ensure you compose a job ad that not only attracts quality candidates, but also makes them want to apply.
● A Targeted Assessment
Assess each candidate’s ability to deliver on their skills from a remote setting. Technical tasks will evidence their credentials, but will also show they’re able to execute their role in a timely manner and without damaging glitches.
● Interview Virtually
A virtual interview is not only convenient, but it is also a great method to test your candidate’s ability to communicate remotely. Pay attention to:
- Their body language
- How they present themselves
- Their punctuality
- Any inappropriate usernames or addresses
- Their office setting
- Their engagement
How well a candidate interacts virtually will give a great representation of how they will onboard with the rest of the company remotely.
● Ask the Right Questions
Ask the right questions to discover more about how a candidate is motivated, and any potential obstacles that may prevent them from doing the job to a high standard:
- “Will you have any challenges working remotely?”
- “How will the time zone difference impact your ability to collaborate?”
- “Why do you want to work remotely? What’s your experience of remote work so far?”
- “What do you find most challenging about working remotely?”
These questions, combined with compliance and industry-related questions, will ensure you discover the right person and eliminate the wrong candidates.
▪ Pay a Competitive Salary
Salary isn’t everything to remote compliance officers. Flexibility is a key benefit to many, as are other perks and benefits, such as team days out, paid time off, and wellbeing packages. However, talented compliance officers can and will demand competitive compensation. Make sure you pay a justifiable and adequate salary to gain and retain the skills and quality you need.
● Run a Job Trial
Run a job trial to see how well a candidate delivers on their role and within a team remotely. Temporary and temp-to-perm contracts are also a great way to test the waters with remote workers. They also fulfil any skills gaps and help you discover talent that fits in with your culture and business needs.
We Can Help You Find the Perfect Remote Compliance Officers
Finding the talent you need in a skills shortage is costly, time-consuming, and needs commitment. Hiring remote compliance officers certainly widens your search for skills.
Here at ACG Resources, we propel your search to an advanced, laser-focused hunt for the best person for the job. We’ve got the resources and the expertise to deliver on your staffing needs. Get in touch today and discover how we can help you beat the talent shortage in compliance.
