In today’s fast-paced, compliance-driven business world, companies are under pressure to build strong internal audit teams that can play a key role in safeguarding their business. However, while internal audit roles have become more strategic and appealing, the job market remains candidate-driven and attracting top-tier internal audit talent has become increasingly challenging.
So, how can your organisation stand out to attract skilled internal audit professionals? In this blog, we’ll explore the key strategies that will help your company not only compete for top talent but ultimately become an employer of choice for audit professionals.
1. Offer competitive compensation and benefits packages
In a talent-driven market, compensation undoubtedly remains a key driver for attracting top internal auditors. According to industry surveys and our own data from recent placements, internal audit salaries have been steadily rising as demand increases. Therefore, ensuring that your compensation packages are competitive within your industry is crucial.
Actionable Tips: Benchmark any salaries you are offering by looking at various sources (you can include Leonid’s global salary guide in this).
Offering bonuses tied to performance, such as completion of audits on time or exceptional risk mitigation, can also make your company more attractive. Benefits such as paid certifications (like the Certified Internal Auditor (CIA) or Certified Public Accountant (CPA)) can help show that you’re invested in their professional development.
2. Define and promote your company culture
Today’s job-seekers are of course looking for more than just competitive salaries—they want to work for companies that align with their values, foster professional growth and provide a balanced work environment.
Actionable Tips: Highlight your company’s mission, values, and work culture in your job description. If you work with a recruiter, make sure they are acting as a brand ambassador and that they understand your culture inside-out.
Use employee testimonials to showcase the audit team’s experience within the organisation, and highlight opportunities for learning, development and innovation in your audit function.
A culture that prioritises continuous learning, collaboration and ethical practices will appeal to internal auditors, who often work at the intersection of various business functions.
3. Highlight Career Growth Opportunities
Internal auditors often want to know that their careers will progress as they develop within an organisation. A clear career path is one of the key factors candidates consider when evaluating job opportunities.
Actionable Tips: When promoting an internal audit role, outline potential career trajectories within the company. Highlight the opportunity to advance to positions such as Audit Manager, Director of Internal Audit, or even Chief Audit Executive (depending on the seniority of the role in question). Offering opportunities for cross-functional experiences in areas such as finance, risk management or governance is also an attractive proposition.
Consider providing internal audit talent with rotational programmes where they can work in other business areas to gain a broader perspective, improving both their audit performance and career growth.
4. Promote your technology and innovation
Internal auditors today are increasingly expected to use advanced tools and technology for data analytics, risk assessment and reporting. Candidates want to work for organisations that invest in the latest tools and platforms, ensuring their work is both impactful and efficient.
Actionable Tips: Showcase your company’s commitment to innovation by clearly explaining how you use technology in your audit processes. This could include automation tools, artificial intelligence (AI) for risk analysis, or data analytics platforms to streamline audit procedures.
By demonstrating that your audit team is forward-thinking and technologically equipped, you’ll attract auditors who are tech-savvy and ready to embrace new or different ways of working.
5. Foster a flexible work environment
Work-life balance is now more important than ever, across the globe. Many internal auditors seek roles that offer remote work opportunities or hybrid work environments. Offering flexibility in where and when they work can really help widen your candidate pool and ensure you’re not missing out on top talent. In 2023, more than 90% of the roles we filled at Leonid offered some degree of flexible or remote working.
Actionable Tips: Clearly state flexible work options in your job listings. This could include remote work, hybrid setups or flex hours. Promote the use of technology and collaboration tools that enable internal auditors to perform their duties effectively, regardless of their physical location.
Emphasising your company’s commitment to work-life balance will appeal to auditors who prioritise flexibility and wellbeing in their job choices.
6. Create a strong employer brand on social media
Your company’s online presence is often the first impression you make on potential new hires. A strong employer brand that communicates your company’s vision, culture and successes can help attract talented internal auditors.
Actionable Tips: Make sure you’re making the most of social media platforms like LinkedIn, Glassdoor and industry forums to build your employer brand. Share thought leadership content related to audit trends, success stories from your audit team, and key updates about your company’s ethical or governance achievements.
Creating blog posts, articles, or videos that spotlight your internal audit team’s role in driving the company’s success can be a powerful recruiting tool.
7. Highlight the strategic importance of Internal Audit
Historically, internal audit was often seen as a compliance function. However, modern audit roles have evolved to include strategic advisory responsibilities, helping guide the company on key issues like governance, risk management and corporate strategy. Internal audit professionals want to feel that their work makes a difference.
Actionable Tips: Use every opportunity to highlight the strategic nature of the internal audit function within your company. When marketing job roles, communicate how auditors play a key role in supporting senior leadership, managing organisational risks and shaping the company’s long-term success.
Showcasing internal audit as a value-adding function rather than just a compliance box to be ticked can make the role more appealing to high-level professionals who want to be part of an impactful and well-respected team.
Final thoughts
Attracting internal audit talent in a competitive market requires a well-rounded approach that offers not only competitive compensation packages but also culture, career growth, flexibility and the opportunity to work with cutting-edge technology. By positioning your organisation as an employer of choice for audit professionals, you can build a robust internal audit team that will help safeguard your company’s future.
With the right recruitment strategies in place, you’ll be well-positioned to attract and retain top talent, even in a competitive landscape.