Is your hiring process causing you to lose top candidates?
With unemployment continuing to drop back to pre-Recession levels, the job market is transitioning from company driven, to candidate driven. Companies are reporting that there is a lack of qualified candidates to choose from in industries ranging from IT to Accounting.
But in reality, many of these companies simply take too long with their hiring process. Even if they like the first candidate they interview, companies constantly want to see who else is out there before making a hiring decision. While they are comparing notes internally, the best candidates get snatched up by companies with shorter recruiting cycles.
The best candidates are often on the market for only 10 days, and will probably get numerous job offers. They are much more likely to accept an offer already on the table in front of them, over a potential offer from your company. (Unless you are a powerhouse like Google that is.) Moral of the story here, if you drag your feet, you will end up losing out on top applicants.
So what can you do to shorten your hiring process to ensure you don’t lose out on great candidates?
- Give priority to scheduling interviews. We get it, you’re busy. Not only are you trying to schedule initial screenings with the HR department, but also with various hiring mangers in your organization. But if you truly want and need to hire a new employee, time needs to be carved out for these interviews, ASAP.
- Minimize time between the first interview and the offer letter. Unless you are hiring for a senior level executive position, do you really need numerous in-person interviews after a phone screen? Chances are you don’t. Perhaps having the candidate interview with numerous people in one day or a panel interview could work to shorten the amount of time in the hiring process.
- Extend the best offer. Don’t assume that you’re going to be negotiating. By lowballing the candidate, you may in fact alienate them. A low offer could turn them off from working with your company. If you truly want that candidate on your team, give your best offer right from the start.
- Finally, work with a staffing agency. Key Resource Group can help take the pressure and stress out of hiring. An agency takes the time to get to know the candidates in their market and has a pool of candidates they are ready to represent. We present candidates to our clients that have already been interviewed, tested, and reference checked. All that’s left is to meet with them in person. The hard work’s already done!
Ready to hire your next employee? Contact the staffing team at Key Resource Group today to get started!