If I asked you to list your company’s current hiring strategy and goals, chances are it wouldn’t cover the following objectives: let top talent slip through your fingers, encourage low productivity levels, flush company dollars down the drain, and harm the organization’s reputation. Unless you’re harboring a deep-seated grudge against your employer, you are probably looking to achieve the exact opposite. Despite these goals, companies tend live by the motto, ‘hire at the pace of a snail, fire as quick as a cheetah.’
While hiring is an integral part of a company’s success, if the process is slow and drawn-out, it will put you at a major disadvantage. We all know the war for talent is fierce, so why are we suddenly suffering from commitment-phobia? To win over top talent, you need a recruitment and interview process that’s agile and efficient. And just so we are clear, speeding up hiring doesn’t mean you have to compromise on quality. Here’s how your team can accelerate your company’s hiring process.
Stay Current on Job Market Trends
In today’s highly competitive landscape, you need to have a robust understanding of your target market’s behaviors and needs in order for your company to distinguish itself from other players in your field. Gaining insight into the types of benefits, compensation packages, and cultural offering job seekers find enticing can help your organization make powerful changes in the way you communicate your opportunity to prospective hires.
According to Glassdoor, 84% of employees that are highly satisfied with their company’s benefits package reported high job satisfaction. That means higher engagement, increased productivity levels, and an improved rate of employee retention. By staying up-to-date on how workers in your market define value, you can tailor the way your brand communicates with talent and better attract quality candidates.
Leverage Your Internal Network of Talent
When a new position becomes available, your first move should be to spread the word internally. Notifying your staff opens up the doorway for internal employees to apply and potentially advance their careers. In addition, your employees can tap into their own professional networks to uncover talent that may have otherwise missed your job posting.
Read more about how to design a successful employee referral program
Incorporate Technology into Your Process
Whether the candidate is local or a potential long-distance remote worker, leveraging technology will help expedite the interview process and decrease your time-to-fill. By utilizing video conferencing tools, such as FaceTime or Skype, you can effectively connect with candidates in other geographic locations. Additionally, these types of digital tools can alleviate scheduling conflicts by allowing several members of your leadership team, who may not be on-site for the in-person interview, to join in the conversation.
To eliminate bias and better understand a candidate’s soft skills, many employers have begun using gamification or online assessments to ensure the individual is compatible with the role. On a similar note, AI has also become an important part of the hiring process. Companies are using data to help build better offers, predict the success of a potential hire, understand the needs of their target talent pool, and evaluate supply and demand in the marketplace.
Reduce the Number of Interview Rounds
To help facilitate the process, allow prospective hires to meet with multiple members of your executive team on the same day. Candidates want a seamless interview process and if they’re currently employed, scheduling multiple rounds of interviews may turn them off to the opportunity.
Nip Indecisiveness in the Butt
The holy grail of candidates has fallen in your lap – so why haven’t you made an offer? Ever hear of the popular slang term FOMO? The acronym, which is now officially housed in the Oxford English Dictionary, means ‘fear of missing out.’ When it comes to extending an offer, employers tend to develop a severe case of FOMO. They’ve uncovered the perfect candidate, yet their brains continue to pulse with anxiety, firing off questions like, “what if there’s someone even better out there?”
By deciding to further search the market for talent, you not only run the risk of handing that candidate over to a competitor, but you will continue to eat the burden of an unfilled seat, which can have a negative impact on productivity, employee morale, and company financials. In today’s tight labor market, candidates are often juggling multiple interviews and by dragging out the interview process, you’re allowing that individual to entertain other offers. If your team finds the perfect candidate, don’t delay the offer process or risk losing the candidate over a lack of communication.