Slow Decisions and Poor Communication Are Killing Your Talent Pool
Hiring managers with slow response times are causing the organization to lose out on their most valuable resource (A-list talent). Losing top candidates with critical skills will cost you money, leave you short-staffed, and increase the time your hiring manager is focused on recruiting. PrideStaff Financial offers some tips on how to speed up the decision-making process and strengthen communication within the company.
Realize you’re not the only one.
Did you know that most companies lose the best candidates during the last stage of the recruitment process? The best and most sought-after candidates will likely be in contact with at least half a dozen other companies during their job search. Recruiters potentially miss out on the best talent because it takes too long to make a hiring decision, forcing applicants to take offers from other companies rather than wait to hear from you. Remember, candidates are looking to start working as soon as possible, and most are not throwing all their eggs in one basket; especially if they know they have very desirable skills. Set a time line before you start interviewing. Decide how long you need or want the process to take. How many candidates will you interview? How many times will you need to interview each candidate? Is there a way to involve the necessary decision makers early on so a quicker decision can be made?
A vacant position open for too long is a money loser.
A Harvard Business Review study showed that taking longer to make a hiring decision did not improve the “quality” of the candidates hired. Results showed that not only did it not improve the quality of candidates hired, it increased discord among staff. It also showed that lengthy hiring processes created significant loss in revenue and productivity. If you and the decision makers have a “gut” feeling about a candidate early on in the interview process—don’t wait. Gut instincts are usually never wrong; they just have to be trusted. Bring your top candidates back in to talk further and decide beforehand if everyone is on board with making a unanimous decision. This does not suggest speed hiring, rather a sense of unity among management to hire the most elite candidates.
Candidates will notice broken communication.
When candidates come in for an interview, they are looking to see if you are as good a fit for them as they are for you. The best candidates are quick and accurate decision makers, developing much of their first impressions about a company through the recruiting process which can reflect how a company operates as a whole. Taking too long to decide on hiring a candidate shows inefficiency within the company. It can also reflect a broken system of communication among upper management. This is easy to spot for candidates and they will walk before you have made a decision. Management needs to sit down with all hiring managers and upper-level team managers ahead of publishing open jobs. Put a plan in place that dictates who starts the interview process. Will all decision makers be involved right away or will the vetting process be a multilevel process? How will you determine your most elite candidates from your secondary candidates? What questions will help you target whether someone should be pushed through the process a bit quicker?
PrideStaff Financial is one of the nation’s leading recruiting firms. Our staffing consultants understand the importance of hiring the right candidates. We can help you in the hiring process so you can keep productivity up and have the strongest employees on your team. Contact us today to learn more.