As a financial institution, you have to find the best candidates to serve your customers. As it’s important to find trustworthy, reliable, and honest employees for your bank, recruiting has to account for a major part of your duties. In our last post, we discussed some of the ways you can interview without violating the ADA. This time, we are going to give you insight into what to look for when it comes to finding qualified candidates for your bank. In addition, don’t forget to secure your operation with an Employment Practices Liability Insurance policy.
Red Flag #1: Gaps in Employment
This often indicates the candidate cannot hold down a job, which can raise some red flags for employers – especially bankers. However, it could also be due to circumstances that are beyond the candidate’s control. If he or she seems otherwise qualified, read their cover letter to determine the cause. If a reason is not provided, ask them about it in the interview.
Red Flag #2: Careless Mistakes
According to The Balance, attention to detail will yield an overall impression of your candidate’s carefulness, and provides a picture of the candidate’s potential success as an employee. Are words missing in sentences that a quick proofread would have caught? How about cut-and-paste errors? The applicant is applying to company X for the job posted but the name of the company, the job title, or the salutation on the cover letter are incorrect. These careless mistakes likely indicate the candidate didn’t put enough time and effort into applying to your business, which is a red flag.
Red Flag #3: The candidate has been demoted or their career has plateaued.
People leave jobs and accept new ones for a variety of reasons. Therefore, examine the applicant’s job history and determine whether they have gained experience and responsibility over the years. Or, if they left a certain position for a lesser role, inquire about that decision. Just because they made a lateral move doesn’t equate to a red flag, but discuss this with the applicant in detail during an interview as it might have to do with other obligations, kids, ailing family members, etc.
Since 1983, Financial Guaranty Insurance Brokers has distinguished itself as a provider of Professional Liability, Cyber Liability, and Crime insurance products for financial entities, in addition to providing crime insurance and general business insurance products to a number of firms across the United States. To receive timely, personalized service from a knowledgeable and experienced staff, call us today at (877) 485-4413 to speak with one of our professionals.