The art of interviewing and why it’s so important when attracting the best talent

IPA Insolvency Practitioner newsletter, August 2024

Article by Chris Stark, Associate Director, Business Advisory, Ambition.

It’s a tough market out there for firms looking to attract high-calibre insolvency talent. While salaries and benefits are important factors when it comes to initially attracting talent, the significance of the interview process that follows is often underestimated by employers.

Interviews are a two-way process

The traditional approach to interviewing in many practices is typically very formal. Often, this will involve a panel of senior staff with a list of questions to ask in a very structured order. Candidates are then assessed based on their responses to these questions.  

While this method has some advantages – being quick, easy to conduct and facilitating easy comparison among candidates – there are some notable drawbacks.

The main issue this can cause is that traditional interview processes can limit a candidate’s opportunity to learn about the company, its culture and what makes the firm an attractive option as a potential future employer. In a market where competition for talent is fierce, it’s essential that firms use the interview process as a platform to sell themselves and showcase what makes them a great place to work. Our advice to employers is to remember that while you’re assessing if an individual is right for your business, that person is simultaneously working out if you’re the right firm for them.

5 Tips for Interviewers

• Make sure questions are concise and that you are clear on what competencies you’d like the candidate to demonstrate.

• Be prepared to answer questions about your company, the reason for the hire and expectations of new starters.

• Interviews should strike a balance between being relaxed while remaining professional. This allows candidates to feel comfortable and will mean you’ll give them the chance to interview to the best of their abilities.

• Allow opportunities for candidates to ask questions throughout the interview rather than just at the end, this allows for a more free-flowing conversational style of interview which is generally more enjoyable for both parties.

• Prepare properly for the interview! Make sure you’ve read the candidate’s CV fully and arrive on time. Candidates can usually tell if their interviewers are unprepared.

Choosing the right people to conduct interviews

Interviewing is an art that requires skill, and for the majority of people, this doesn’t come naturally so training should always be given to interviewers.  

When it comes to who should conduct the interview, it’s important to remember that the interview process is a chance to sell your firm, so it makes sense to choose individuals that are passionate about the firm and embody the company culture. These individuals will be able to explain what makes your firm different and appealing and will make it easy for jobseekers to understand the values of the firm and whether these align with their own.

Wherever possible, you should aim to have a varied and diverse group of interviewers. This will massively help with attracting a more diverse workforce.

Virtual or in person?

We have noticed that firms are increasingly using video calls to conduct their interview processes. While virtual interviews offer convenience and speed in arranging interviews, we strongly believe that they should complement, not replace, in-person interviews, which should still be the gold standard. We recommend that there should always be a face-to-face meeting with a candidate during the interview process if at all possible. This is beneficial for both parties as the candidate gets the opportunity to see their potential place of work and there’s still no replacement for the personal connection that can be built when meeting someone in real life as opposed to via a screen. Virtual interviews have their place in the initial stages of the hiring process but should be used alongside in-person interviews at later stages.

In summary, when it comes to attracting high-calibre talent, conducting a positive interview process that showcases the company’s culture and engages candidates is key in a competitive market. Firms should select and train their most passionate employees who can represent the company’s values and present your firm in the most positive light. Ultimately, the interview is not just about finding the right candidate, but also about candidates finding the right company, where both can thrive together.

Please note that guest content does not necessarily represent the views of the IPA.