How to optimise your compliance recruitment strategy to attract and retain the best talent

How to optimise your compliance recruitment strategy to attract and retain the best talent

The complexity of the ever-changing regulatory environment, coupled with the increased focus on ethical working practices, has led to a marked increase in demand for skilled compliance professionals. Companies across all industry sectors are actively seeking individuals who can demonstrate a comprehensive understanding of regulatory frameworks, coupled with excellent communication and problem-solving skills.

The trend towards globalising business operations has also resulted in higher demand for compliance professionals with international expertise, who are well-versed in international laws and regulations, and who understand different cultural nuances.

There has been a general trend in corporate governance towards “doing more, with less”, as already-lean teams are facing into an increased workload. As such, we are seeing more clients asking for very specific skills in areas such as data privacy and cyber security.

In spite of increased external pressures, it is still a great time to be a compliance professional, as there are many exciting opportunities out there.

For hiring companies, there are a few considerations which can really impact how successful their recruitment campaigns are.

Finding Qualified Compliance Professionals

One of the greatest challenges in compliance recruitment is finding qualified professionals with the right blend of skills and experience, including ‘softer’ skills like leadership and teamwork and a willingness to adapt to change.

It’s because this is such a complex area to recruit for, that people come to Leonid for help. We not only understand the sector, but we take the necessary time to research the market and reach out to untapped talent which may not currently be actively looking for a new role.

Working with a search firm is highly recommended if you want to find that highly prized ‘passive talent’ which can’t be reached via job ads or a contingency recruitment approach.

How to Retain Compliance Talent

Since compliance professionals are in such high demand, keeping hold of them is paramount.  While an attractive compensation package is a major factor, we’re seeing more and more candidates prioritising flexible working and support for continuous learning.  As such, employers should be open to flexible working requests and look at providing opportunities for training and career advancement within the compliance space.

Compliance professionals are often tasked with upholding the ethical standards of an organisation, so employers looking to attract compliance talent must be able to demonstrate their commitment to these values from the offset. A culture of transparency and accountability will ensure compliance professionals feel valued and motivated to stay for the long term.

Building a Strong Compliance Culture

Aside from being vital for attracting and retaining talent, a strong compliance culture  is critical to the success of any compliance strategy. Employers should promote the importance of compliance throughout all levels of the company. This includes effective and ongoing internal communications, rigorous training programmes and clear guidelines for employees on their compliance responsibilities.

Encouraging a culture of accountability - where everyone is encouraged to speak up - can help prevent compliance issues from escalating. Additionally, recognising and rewarding employees who exemplify a commitment to compliance can further reinforce these desired values and behaviours.

Investing in Compliance Training and Development

Businesses must invest in comprehensive training and development programmes for compliance teams – and this is key to both talent attraction and retention.

Not only does comprehensive training demonstrate commitment to compliance excellence, it is also vital for enabling teams to keep up with evolving regulations and industry best practices. Offering a variety of training formats, such as workshops, webinars and short courses can cater to different learning styles.

Wrapping up

By adopting strategic, proactive recruitment strategies and investing in training and development, businesses can build robust compliance teams that are critical to overall business success.

Leonid are here to help you solve your recruitment challenges. Contact us today for an informal chat and more market insights!