Research has proven that when companies take too much time to make a hiring decision, they miss out on the top talent. If you have found yourself in the position of wondering about the employee that got away, you’re not alone.
The traditional hiring process begins when ads are placed and hundreds if not thousands of resumes are combed through, which can take approximately two weeks. Then comes the interviewing and evaluation phase, which could take an additional two weeks or more. So now it has been one month since you originally placed the ad and finally settled on the top candidate that will help power your company to the next level. You excitedly place the phone call to offer them the job, only to hear them politely decline because the day after the interview, they were offered another position. They accepted the other position after a few days of consideration and back to the drawing board you go.
In a recent survey of 1,500 professional recruiters the following recommendations came up to increase your acceptance rate with top candidates:
- 94.4% of respondents recommended telephone interviews within five days of becoming aware of a qualified candidate
- 85.8% of respondents recommended face-to-face interviews within eight days
- 78.7% of respondents say to extend an offer within six days of the face-to-face interview
This shows that the process could be wrapped up in three weeks or less. If that seems like it may be too fast, remember that your top candidate is more than likely also coveted by your competition. You are constantly competing with other companies for a limited resource.
There is an extreme shortage of qualified candidates and the problem is not getting better. However, you also don’t want to make a hiring decision too quickly and end up with an expensive mistake.
Here’s how to make the right decision quickly and efficiently:
Plan and Prepare
Whether working with an internal or external recruiter, you need to focus on creating and rethinking the job description to get results. Identify the company’s needs and the desired expectations and personal attributes of the candidate (communication skills, work ethic, personality, etc.). The more specific and concise the job description, the more success you will find. Have urgency when filling an open position; make the decision to identify the right person and make the offer.
Cut down the time involved in interviewing, evaluating, and hiring by having all participants present at each step. Eliminate second and third interviews.
Know Your Product
A large reason for job vacancies is that employers misjudge the pay rate, benefits, and perks that will make their positions attractive to job seekers. If you want the top talent, you have to be willing to pay them for their worth. Keep an eye on the changing salary scales in your market and calculate salary and benefits to stay competitive.
Filling the job vacancies in a timely matter is important and we at River City Staffing can help you fill these vacancies quickly with quality employees!
For more information on receiving or finding the right candidate for your company, CLICK HERE! At River City Staffing Group, we are pleased to begin creating a lasting partnership with your company.