Recruiting in 2025
Written By: Christopher Rains, President of Commercial Finance Consultants (CFC)
The past decade has brought a great deal of change to the landscape of the corporate world. Every year, technology advances by leaps and bounds, new companies are formed, and what was once considered common practice becomes obsolete. Despite the turbulence brought about by 2020 and the subsequent years, the Factoring and Asset Based Lending industry is thriving. Of course, this means the need for top-tier talent has never been higher.
This year in particular, I have already sensed a great deal of optimism in the Factoring and Asset Based Lending space. Numerous companies are seeking to expand their ranks with salespeople as businesses increasingly seek flexible financing solutions. There has also been a shift in legislation that has allowed for more freedom in hiring. This should mean that 2025 will bring a great deal of growth to our industry and I, for one, am looking forward to seeing it.
For the last twenty years, my company has been solely dedicated to sourcing talent for the Factoring and Asset Based Lending niche of the financial market. While our core values have remained the same, our practices have had to evolve and adapt, just like those of the companies we serve.
One of the largest changes I have noticed in the past decade is the rise of social media. Networking platforms such as LinkedIn, Indeed, Glassdoor, and Monster have vastly altered the face of recruiting. Using these websites, candidates can be found and contacted in greater quantity faster than ever before.
However, this method also brings about its own challenges, as quantity does not guarantee quality, and professional networking pages are only as accurate as individuals make them. Thus, the vetting process has never been more important. Documents such as resumes and deal sheets serve as an excellent way to determine the experiences and abilities of individuals on paper, but can only give partial insight. With so many candidates available digitally, we still find the most reliable means of discovering top-notch talent is through word of mouth.
Human beings are not something that can ever be fully expressed on a screen. They are the culmination of their experiences, personalities, goals, and so much more. Each has the potential to do amazing things along with their own unique set of hopes and dreams. Treating them like numbers on a spreadsheet would be a mistake as it would in no way accurately depict their capabilities and talents. That is why it is the duty of the recruiter to execute a series of conversations, not only to learn the facts about the individual and the role, but to gain insight into both. This involves having an open and in-depth dialog with hiring authorities and candidates alike as a means of discovering the specific needs of one and the skill set of the other.
Through building these relationships, I am able to establish trust and come to a deeper understanding of what talent to pair with which company. Even still, once the first interview happens and the hiring authority and candidate speak directly, it will be up to them to discover if they are truly congruent.
A large part of finding these matches is built around the ability of the individual to perform the duties of the given role, but an equal part, which should never be overlooked, is the compatibility of the company's culture and work processes. I am well aware that “company culture” has become a bit of a buzzword in recent years, but with employee retention nearing an all-time low, I think it is something that more organizations should take seriously. Often, the best way to build a strong team starts with keeping the talent you already have. By looking inward and offering opportunities for employees to advance, improve their skills, and earn new certifications, organizations can retain their talent and build themselves from the inside.
Company culture is about more than just the type of snacks in the breakroom and the color of the walls. The focus should be on the company taking the needs of its employees seriously and striving to meet them. This requires leadership to listen with respect to suggestions and complaints. After that, both sides should work together to find an equitable solution. While not all requests are possible, the way in which they are met by leadership can be more important than whatever decision is reached.
At the end of the day, some of the best things employers can supply to their staff is respect, courtesy, and willingness to be flexible. It is proven that happy employees show greater productivity and attention to detail than those who don’t feel valued or appreciated.
Having a winning company culture is also one of the best ways to attract new talent. Now more than ever, work-life balance is at the front of nearly every candidate's mind. This change in thinking has been brought about by the increased awareness of burnout and mental health in our society. No one wants to spend nearly a quarter of their life working in a place they hate. A situation such as that would create a hostile environment where growth and productivity are not prioritized.
Other good ways to attract the best talent include having a well-respected company with an excellent reputation, being honest about the position and the work that it entails, and quickly resolving any questions or concerns that arise. People want to be proud of where they work and feel secure in their future with the organization. Changing jobs is taking a step into the unknown and the more assurance they have that their decision is a good one, the more likely they will be to make the change.
On the flip side, candidates should head into the interview process ready to make a good first impression. They must also be honest about their skills and experience. A potential employer might not know they are being lied to in the moment, but the truth will eventually be discovered and the break in trust will be irreparable.
This is another area where recruiters come into play. It is my job to ensure that the candidate is a good fit for the role and won’t feel the need to embellish their skills to appear more hirable. I also work to prepare both the hiring authority and the candidate to meet under optimum circumstances at a time when their joining would be mutually beneficial to both parties.
To orchestrate this, a lot of preparation is required, which brings us back to the conversations and relationships I, as a recruiter, must build. I cannot stress enough how important this process is. I rely heavily on my network to keep my finger on the pulse of the industry. If I don’t stay current on news and common practices, I am essentially useless. Networking is an important form of business that may appear to be a waste of time to some, but never underestimate the value of a conversation with the right person at the right time. More than once I have seen it change someone’s life for the better.
In order to advocate for the candidates I work with, I must understand how my client companies are structured and what they can offer potential employees. Otherwise, I won’t be able to ensure that the offers and counteroffers made are of fair market value. Recruiters walk a fine line as we negotiate between two parties, trying to get the best for both while working to ensure that the union will ultimately be a success. I have sometimes referred to myself as more of a matchmaker than a recruiter because of how delicately some placements must be handled.
Discretion and confidentially are also huge factors when it comes to the hiring process. Most individuals feel vulnerable when considering transitioning between two companies. If word got out, it would create a very awkward situation and could result in the termination of the candidate, which is why privacy must be a recruiter’s top priority.
Overall, recruiting is just like any other profession. It requires the ability to adapt to the changes in the corporate landscape while still holding onto the fundamental practices that make it successful. In particular, we must continue to focus on building relationships whether that be in-person, over the phone, or through social media. People will always be our number one priority because they are the heart of every organization and without them, there would be no progress whatsoever.
So far, I am truly enjoying this year and all the new opportunities it has and will continue to present. Progress never stops and neither will we as we strive to make the industry stronger one placement at a time.
About Christopher Rains
Christopher Rains is the President of Commercial Finance Consultants (CFC), a recruiting agency that has spent the last twenty years exclusively serving companies in the Factoring and Asset Based Lending niche of the working capital world. With nearly a decade devoted to the industry, Chris strives for excellence in matching skilled professionals with career-advancing opportunities while providing talent to top-tier organizations. As a military veteran, entrepreneur, and small business owner, Chris has built an extensive network of contacts throughout the industry and is committed to leading CFC with honesty, integrity, and discretion. He is a Board Member of the American Factoring Association and has been an active member of the International Factoring Association and the Secured Finance Network, attending many of their conferences as both a sponsor and an exhibitor.