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Is your Hiring Process Hurting Your Business?

Hiring the right individual for your business can feel like a daunting process at times. From drafting the job description, marketing the opening, sourcing and screening applicants, interviewing, completing background/reference checks, to making an offer. That’s already seven steps! In today’s hiring market it has become abundantly clear that the standard process of six to eight weeks is just too long for most candidates. In this current candidate-driven market, taking this long can cause you to miss out on some amazing talent.

While the talent selection process is important to your business because of the production and performance value employers get by making good hires and the high cost of replacing employees as a result of bad hires, today’s economy just doesn’t allow a 6-8 week delay which can also cost you thousands in revenue weekly. Recent studies revealed that when job seekers that are forced to endure lengthy hiring processes up to 40 percent lose interest in the position and pursue other opportunities. It also makes candidates wonder about the company’s decision making ability in not only human resources but in other areas as well. Nearly 60 percent of job seekers say the most frustrating part of searching for a job is the long waits for interviews and notice of any decision made. Let’s be honest, everyone is looking for the best fit.

So what can be done to ensure that your hiring process is a good one? To be certain that you are doing everything possible to ensure a great selection is made but how can the process be sped up? By tightening your timelines without skipping a beat you can ensure the process is smooth, timely and effective. Improving your hiring process can not only save you time and money but it can increase your chances of hiring great talent promptly and effectively.

Effective Hiring Practices Will Save You Time and Money

In this candidate-driven market, make sure your hiring process is candidate friendly. Make sure you don’t create too many unnecessary constraints or steps to an offer. For example, an effective hiring process used by a well-known technology giant looks like this:
1.) Candidate applies – undergoes internal resume and/or email screening
2.) Interview – Initial phone screen by HR
3.) Onsite Interview- done by a panel of hiring authorities
4.) Offer
During this process, the candidate is kept informed at each stage of their status in a timely manner without being left to wonder what’s going on.

Another helpful option to improve your hiring process is to outsource all or part of your recruiting efforts. Choose an established professional that can clearly define and set up the steps needed in your hiring process according to your current needs and their expertise. Having a professional highlight where there may be flaws in your hiring process is a revenue saving move. They can assist with narrowing your needs and clearly defining them, ensuring that large candidate pools are properly sourced and utilize interviewing techniques to effectively deliver strong candidates to the company’s decision makers.

There has been a shift in the dynamics of hiring which allow job seekers the ability to move on to other opportunities once a delay occurs. By establishing an effective hiring process you can save time, money and avoid losing out on great talent which may pass on your company due to its lengthy hiring process.

Using a Recruiting Agency Can Save Your Company Time, Money, and Headaches

“Every part of your business boils down to people. And by understanding the human element, you’ll be more profitable, lead more effectively, create brand loyalty, close more deals and do better work.”  – Zach Ferres, writing for Entrepreneur

Business is a fight for profits. The greater purposes of business – making a difference in the world, caring about the community, contributing to the greater good – all fall flat if a business cannot make money.  Investing in your company’s personnel is no empty platitude or nice idea, it’s a wise financial decision.

Eric McNulty drew attention to Starbucks’ notably employee-centered business model in his article for Strategy+Business.  He surmises, “A customer’s experience is the sum of every interaction he or she has with a company, its products and services—and…its people. This is the true value of the brand. Those companies that view their employees as assets worthy of investment will reap the dividends.”

Business people assembling puzzle

A Recruiting Agency is the Missing Piece to Your Company’s Success

Let’s take a look at the numbers.

Harvard Business Review’s April 2014 issue examined the financial benefits to “creating a culture of quality” – an environment where employees are “passionate about quality as a personal value rather than simply obeying an edict from on high.” They found that “a company with a highly developed culture of quality spends, on average, $350 million less annually fixing mistakes than a company with a poorly developed one.”

$350 million dollars is something to take seriously.  Such a large margin for financial gain or loss clearly comes with added pressure for businesses. Harvard Business Review goes on to suggest ways in which an organization can better promote this culture of quality in already-established employees, but we believe the process begins earlier on with recruiting excellent candidates and placing them in roles that are well suited to their skills.

People are a key element to the success of your business, and people are a professional recruiter’s specialty. Countless hours of working alongside companies and candidates teaches a recruiter how best to communicate effectively with both parties. One area where a recruiter can offer particular assistance to a company is helping them develop strategies for consistent hiring success. Job descriptions, for example, may seem like one of the simplest, least-critical scraps of information floating around a huge company. However, as Employer Flexible explains, “Inaccurate or outdated job descriptions can negatively affect recruiting and productivity, are a detriment to the employer-employee relationship and pose serious legal risks for the company.”

Job descriptions are all about communication. Businesses often struggle to make a job description accurately reflect the job for which they are hiring, and without clear communication at the beginning of the process, happy hiring is rarely the outcome. Professional recruiters can take every element of your business’s communication with new and potential hires and make real improvements.

People are a company’s real assets.  Professional recruiters want your company to succeed, and we believe that investing in quality employees makes a substantial difference in your financial success. We can save you the extra time, money, and headaches that come with bad hires. Let our expertise with people help you build a quality business. Invest in people by investing in an experienced recruiter.