Hiring? 4 Tips to Remain Competitive in a Candidates’ Market

This year has been full of ups and downs. The talent acquisition world in particular has been interesting as we found ourselves in the midst of a candidates’ market. In this landscape, we’ve seen a shift in the hiring process — a typical candidate drops out more quickly, demands more attention, or accepts offers from another firm that acts faster.

If you’re looking to hire, here are four top tips to help you remain competitive:

1. Shorten time to hire – when candidates have multiple options and offers, slow hiring means that you can lose up to 70 percent of candidates who have other offers. Both recruiters and hiring managers need to work tirelessly in order to take every single delay out of the hiring process. For the few highly sought-after candidates and entry level positions, a one-day hiring process has become a new normal.

2. Faster offer and interview process — everything about the offer process must be done more quickly. In addition, offers must be data-driven and more personalized in order to make them competitive. Try working backwards from your target hiring date, establishing who from your team is integral to the process, how many interviews are needed, and what the team’s availability is. Make substitutions when possible to avoid unnecessary delays without sacrificing due diligence. And, if the interview process is elongated for unavoidable reasons, bringing a candidate back in can help keep interest fresh.

3. Refine the candidate’s experience — even if your recruiting process doesn’t change, the average candidate’s assessment of his or her experience has shifted – and it holds weight in their overall assessment of the company. Plus, the pervasiveness of social media (something especially pertinent for millennials) means more people will know about a poor experience, which could influence public perception on your organization’s ability to attract and retain top talent.

4. Understand the candidate — candidate needs and expectations have changed in this highly competitive marketplace. As a result, we have added market research and sourcing to our team in order to fully understand candidates and help them more clearly see the fit for new opportunities. This has become our number one success factor.

Another great way to stay competitive? Let us do the heavy lifting for you. Contact us for any of your open positions, and we will begin pipelining candidates for you to review right away.