The demand for good people Market Research & Insights is at an all-time high. Applicants have an abundance of choice, while employers jostle for position to attract the best people. Most vacancies out there are great jobs, but many remain unfilled for weeks or even months, yet there are good applicants out there. There also seems to be no correlation between a company’s reputation or size and their success in hiring; many “aspirational” employers have vacancies lingering for ages, while other firms seem to fill their roles in a flash. So, what is going on? The answer seems to lie in how well an employer manages their recruitment processes. Here are the three basic rules which will greatly increase the chances of success:
Rule 1 - Speed
Time is of the essence! If a CV sits on a recruitment portal for week or if it has to go through three decision-makers, you will lose out. Companies with the best track record of hiring good people are the ones who are the quickest, so review your processes and make sure your business is able to respond to a hot candidate within 24 hours. Sit on a CV any longer and it will be the competition who benefits.
Rule 2 - Good communication
Strike while the iron is hot! Give same-day feedback after an interview if possible and definitely avoid delaying more than 24 hours after the interview. If there is likely to be a delay, tell the applicant during the interview or tell your recruitment consultant. That way, expectations can be managed effectively, and good candidates kept “warm” for you.
Rule 3 - Avoid haggling over salary
Don’t be ‘tight’! Listen to what the candidate and/or recruitment consultant tells you about salary expectation. The “go in low” approach to negotiation will not endear people and it usually fails. Applicants don’t like to negotiate hard, especially if their expectations are within market-rates, as it gives the impression that the employer is ‘stingy’ and with poor projects for future salary increments. Make your offer your best and make sure it is within the applicant’s desired range. If you are using a recruitment consultant, they should help manage expectations for you. Remember, losing out on the person you want could put your recruitment back 6-12 weeks, and the cost of delays could be much higher than the increment you could have given.
The above might sound simple, but so many employers fail to recruit the person they want due to an oversight in one or more of the above points. If, however, you can make your recruitment processes quick & responsive and your job offers generous, we guarantee you will see results.