Top-performing job candidates have their choice of positions – and their experience during the hiring process can be a deal breaker as they make their final decision. Candidates who have a positive experience hit the ground running and tend to have a strong sense of loyalty to their new organization. Those who are not hired walk away feeling respected and are more likely to recommend other talent to the business.
Among those who have a poor experience, only 37 percent would recommend a company to others. And regardless of their feelings, 83 percent of candidates tell family and friends their stories and 64 percent recount their experiences on social media.
First Impressions Count
For most candidates, your hiring process is their first impression of your company. And you only get one chance to make it a good one.
- Start with an awesome career page. If a candidate has made it this far, then they’re interested in working for you. Tell a compelling story about your organization, its culture and the people and environment they’d be joining if hired.
- Applying should be as easy as a single click. The best candidates will spend a maximum of 10 minutes completing an online application.
- Be considerate to all applicants. Timely, personalized communication is the number one way to improve the candidate experience. Even if a person is not qualified, reply promptly and thoughtfully.
The Importance of Efficiency
The top 10 percent of talent are off the market within 10 days. Especially in today’s world of real-time and social media, a slow hiring process can severely damage your results.
- Track your time-to-fill metric. The total dollar loss from hiring inefficiency may be up to 10 times higher than that resulting from low recruiting due to cost-per-hire issues. Slow hiring does not improve your quality of hire. In fact, the opposite is true. The longer you take to fill a position, the lower the quality, as leading candidates drop out of the running.
- Vacancies are painfully expensive. The bottom-line damage may be as high as $5,000 a day in key sales and revenue-generating jobs.
- You risk a bidding war and having to pay more for top talent. If you’re the first firm to approach and hire a top performer, chances are they will accept with minimal haggling. But once your competitors enter the fray, candidates’ compensation demands increase. You may wind up paying up to 25 percent more than you would have without other bidders involved.
Make it Personal
Keep the experience candidate-centric from the first point of contact through hiring, negotiating and onboarding. You’ll reap the rewards from your investment for years to come.
- Keep candidates in the loop. Explain every step of your hiring process to them, along with projected timelines. If anything changes, notify them in a prompt, direct fashion.
- Provide a sense of warmth and inclusion. Try to predict candidates’ questions, concerns and specific pain points that you can alleviate for them. Let them know that they are your priority and you’re there for them.
The right recruitment firm can be invaluable as you fine- tune your hiring process and candidate experience. To learn more, contact the team at WorkSource Staffing today.