The Hunt for A-Players: Qualifications vs Experience

Having a team of A-players is crucial for the success and growth of accountancy practices. By prioritising the search for A-players, investing in their training and development, and fostering a culture of growth and excellence within the firm, accountancies can secure a competitive edge and thrive in the market.

But what exactly makes a candidate an A-player? How much emphasis should be focused on qualifications versus experience?

The Role of Qualifications

Hiring a candidate with qualifications might seem like the most straight-forward choice. These candidates come equipped with a solid foundation of theoretical knowledge, and often, relevant certifications. They understand industry standards, are aware of best practices and tend to be aligned with the latest developments in the field. Moreover, hiring a qualified candidate often saves the firm significant time and resources that might otherwise be used for extensive training.

On the other hand, hiring an individual without qualifications but with potential and then investing in internal training, also has its merits:

"At flinder, we look to hire A-Players. Recruiting the right team member is fundamental to the overall success of our brand. Unsurprisingly, we’ve found some of our best successes with team members that have joined us at the start of their professional journey – this way we can train them ‘the flinder way’ early on in their career through our internal support and training. However, this was particularly challenging in our early years as we grew rapidly and didn’t have the luxury of waiting for those starting their profession to become more experienced. At this stage, getting the balance between qualifications and relevant experience was vital, as exam success alone doesn’t translate into being able to do the role in the business. We focused our search on those that had worked with similar technology before or demonstrated their ability to learn new tech quickly. It should also be highlighted that we looked for a certain growth attitude rather than just pure technical experience." Luke Streeter , COO & co-founder at flinder

These individuals with potential can be shaped according to the company's culture and practices. They are often more adaptable, open to learning, and can bring a fresh perspective to the table. Moreover, training internally often fosters loyalty, reduces turnover, and can lead to a more committed, long-term employee.

I believe the importance of qualifications varies depending on the role you are hiring for. In the realm of sales and customer success I have found that a candidate's experience and attitude can carry more weight than their qualifications. However, if you are seeking an employee to carry out technical accounts work, a strong academic background becomes more of a prerequisite. For example, to become an accountant you'll need a qualification from one of the industry bodies (AAT, ACCA, ICAEW).

“We see the challenge across the profession on whether a candidate has the aptitude for a professional qualification, this is hard to judge on interview, but we try through a competency based approach. This may then be tackled by looking at graduates, but you then face an equal challenge of a recent graduate who has done an accounting degree and therefore not far off qualification, however they will have no practical experience or knowledge of technology used.” Luke Streeter , COO & co-founder at flinder

The Weight of Experience

When evaluating the experience of a potential A-player, it's not just about the length of time spent in the industry, but also the breadth and depth of that experience. Candidates who have navigated various roles within the accountancy field, exhibiting versatility, are often indicative of A-players. They bring a holistic perspective to the table, understanding different parts of the business and how they interconnect.

On the other hand, depth of experience matters too. Candidates who have delved deep into a specific area of accountancy, gaining specialised knowledge and expertise, can prove incredibly valuable. This detailed understanding can help in the resolution of complex, specific challenges that firms often encounter.

The type of environments in which a candidate has worked can also indicate whether they're an A-player. Those who have thrived in high-pressure situations, driven innovation in stagnant environments, or navigated through significant industry changes often have the resilience, creativity, and strategic thinking that characterise A-players.

“To wrap up, while the professional qualification is important, relevant experience is equally as vital alongside this. The qualification, without experience, adds no value to our clients, and therefore our brand. We expect A-Players to progress well in exams, with first-time passes, but these professional skills very much go hand in hand with other skills of a modern accountant – digital skills, business acumen and relationship skills. These all come with experiencing what it’s like to work in the right environment.” Luke Streeter , COO & co-founder at flinder

Bridging the gap

Finding candidates with both qualifications and experience is ideal, but this may not always be possible, especially for smaller firms.

In such cases, it is crucial to assess each candidate holistically. While qualifications and experience are important factors, other qualities such as attitude, adaptability, and potential for growth should also be considered.

“We at Nordens Chartered Accountants recognise that the landscape of accountancy is rapidly evolving, shaped by advancements in technology and AI. In this dynamic environment, our hiring philosophy extends beyond conventional metrics of qualifications and experience. We prioritise candidates who are not only right for the job but also embody a genuine passion for helping people and businesses. Our focus is on nurturing warm, client relationships, which we believe are the cornerstone of our success.” Mitch Hahn , Nordens Chartered Accountants

Moreover, investing in training and development opportunities can bridge the gap between qualifications and experience. This not only helps boost the expertise of existing employees but also attracts top talent looking to grow their skillset.

5-Step Action Plan

Here's what we implement to hire A-Players that thrive at Telleroo (we’ve grown from 4 to 19 people in the last two years):

1. Assess core skills: Which skills are essential for the candidate to perform in the role? How can they obtain these skills (qualifications/experience)?
2. Understand relevant experience: What experience will help the candidate excel in this role? Does the experience have to be industry specific?
3. Training requirements: Are there any aspects of the role that need to be taught in-house? Can you bridge the gap with training for a candidate with great culture fit and professional background?
4. Streamline your job advert: Make the core skills and relevant experience streamlined and clear on your job advert. Responsibilities should also be summarised to give the candidate a clear picture of the requirements. Get rid of the laundry list!
5. List your benefits: Attract A-Players by listing your company benefits on the job advert. Be sure to review these - are these seen as benefits by your existing team? Or are they wanting something else?

Getting A-Players through the door is obviously just the first step, and there is so much more to talk about regarding keeping them and building culture! But hopefully this is insightful, what are your thoughts?