Why would you pay a specialised recruiter a slightly higher fee?
At The People Connection we have had the privilege of working with finance professionals for almost 30 years. Over these decades we have been consistently inspired by the integrity, professionalism and dedication shown by the individuals who make up South Africa’s finance community.
To every financial manager, accountant, auditor, analyst, bookkeeper and CFO we have worked with over the years, thank you. Your ethics and the pride you bring to your work are the reason this profession remains one of the most trusted in the country.
However, the recruitment landscape is evolving and with that evolution comes new challenges that employers need to be aware of.
1. Verification Is More Important Than Ever
We are seeing an increase in CV inaccuracies and date discrepancies. This does not apply to the majority of candidates, but it is happening frequently enough that verification has become essential.
We recommend that companies:
• Check that dates of employment are fully validated
• Conduct reference checks through official company channels rather than mobile numbers
• Verify referees through HR or direct line managers rather than personal contacts provided by candidates
These steps help protect your organisation and ensure you are engaging with authentic, qualified professionals.
2. Fraud Screening Needs to Be More Robust
Traditional checks such as ITC reports are no longer sufficient on their own. We are unfortunately seeing a rise in more complex misrepresentations and have had to increase the depth of our own fraud screening processes.
Companies should now include:
• Bank verification checks
• Qualification verification
• Identity and residency confirmation
• Consistency checks across all submitted documentation
These enhanced processes help safeguard businesses from costly mistakes.
3. Make Offers Subject to a Final Reference Check
In the current environment we strongly recommend that all employment offers include a clause stating that the offer is subject to a final reference from the candidate’s current employer. This reference should be completed once the candidate has resigned to ensure accuracy and transparency.
This step helps prevent hiring decisions based on outdated or incomplete information and reduces risk to the employer.
4. Counteroffers Are Becoming More Common
More companies are experiencing operational and financial disruption due to candidates withdrawing at the last moment because of counteroffers. In the current economic climate this is becoming increasingly common.
For critical roles organisations may want to consider including a clause in the employment contract that addresses damages or losses resulting from last minute withdrawals.
It is important to remember that counteroffers rarely create long term solutions. Increases gained through counteroffers often result in temporary retention rather than lasting satisfaction or improved performance. Ethical career progression remains the strongest foundation for long term success.
A Final Thought
The finance profession has always held itself to high ethical standards which is why it remains one of the most respected fields in the world. As the market becomes more complex it is important that we all remain committed to maintaining those standards.
Together we can continue to build a trustworthy, ethical and resilient financial community.
Warm regards
Emma
The People Connection