In the competitive business landscape that we live in today, finding effective talent is no longer as easy as posting job openings on the newspaper’s classified ads or hiring a head hunter that holds exclusive access to a pool of talent. Each candidate in the market nowadays already works with five to six recruiters and receives a continuous stream of job offers. Apart from that, social media platforms such as LinkedIn and even Facebook are avenues for employers to reach out to potential hires directly. Company executives, HR professionals and recruiters all struggle to find qualified talent effectively and on time. The competition for the best talent is so steep that the average candidate usually already has three offers on the table before accepting one. With such a job-flooded market, how do employers and recruiting companies stay ahead of the race to acquire the best talent? Below are some ways you can be a cut above the competition and attract qualified talent.
Speeding Up the Hiring Process Improves Candidate Experience
With candidates having a myriad of job offers to choose from, your competitors can beat you to acquiring great talent if your hiring process takes too much time. 57% of candidates think that it typically takes a long wait to hear back from an employer after the interview. We’re no longer living at a time where it’s acceptable for a company to take up to a month to hire for an open position. In fact, 39% of job seekers say that 7-14 days is already too long, while 23% of candidates are only willing to wait a week. When the wait is too long, 57% of job seekers claim to lose interest in the job. With candidates no longer interested in waiting, it’s necessary for businesses and staffing agencies to hasten their time to hire.
There are a variety of ways to speed up the hiring process and keep candidates engaged. Having an existing pool of qualified candidates to choose from is one of the best ways to hasten the time it takes to hire talent. Instead of scouring through job boards and past correspondence, an organized database of candidates is key to a quicker hire. Building a dynamic candidate pool and consistently recruiting passive candidates cuts the candidate search time and shortens the hiring process. Apart from an existing talent pool, investing in quality software considerably hastens time to hire. A reliable applicant tracking system, data-driven recruiting technology and software that removes barriers in the hiring process are highly advised for speedy and quality job placements.
Comprehensive Job Descriptions Improve Hiring Speed and Accuracy
Compelling job descriptions are extremely helpful when it comes to improving time to fill rates. A well-written and high-quality job description or job posting not only attracts more candidates, but is likely to receive more qualified applicants as well. It’s important for job descriptions to be clear and precise, giving candidates a straightforward idea of what the job entails. They should include all the details needed for job seekers to determine whether they are qualified for the role. This helps save time spent filtering through unqualified candidates that may apply due to job postings lacking sufficient information. Job descriptions should include all necessary company information, benefits and salary range, and a list of skills required for the position. A glimpse into the company’s culture is also recommended, with 72% of applicants seeking some information on what it’s like to work for the business. Posting these job descriptions on multiple hiring platforms and social media also speeds up the hiring process and may even lead to referrals.
A nimble recruiting process and compelling job descriptions considerably raise your chances of finding the best talent. There are still a number of practices that you can apply to improve your firm’s hiring process. In part 2 of this article, we touch on how interview accuracy and RPO providers can greatly improve talent acquisition.