After almost two years of unemployment rates at historic lows, economists and other experts are predicting a national recession in 2020. While this prediction is uncertain, the current state of the market remains strong – with high demand for talent, especially in the fields of accounting, finance and IT.
Recently, a public accountant with three years of experience at a large firm shared with me that she receives on average, 10 messages a day through LinkedIn, from both recruiters and hiring organizations. This factor is quite telling of the current state of the market where available, quality talent is in high demand but low supply.
As a recruiting veteran, it’s clear to me that right now working professionals have the upper hand when it comes to the hiring process.
So, what can managers do to best navigate their hiring and find top-tier candidates for their open roles? For starters, they first need to rethink their hiring process.
Take a look at the 4 Ways for Managers to Boost Their Hiring Process below!
1. Streamline Interview Steps
Let’s face it … if a hiring company’s process is unnecessarily slow and cumbersome, candidates are likely to bow out. Most job seekers have a handful of options on the table, when interviewing. They’re looking for efficiency when it comes to administrative steps such as applications, references, number of interviews, follow-ups, etc. Believe it or not, the pace and seamlessness of your process says a lot about your company and its culture. Taking too long to make a decision can deter candidates away from the opportunity, or simply lead them to accept an alternative offer.
2. Offer Full Transparency
I’ve worked with numerous candidates who’ve gone through several rounds of interviews with a company, only to learn that the role is beyond a fit for them.
When navigating the interview process, one of the biggest fears a job seeker has is that their time and preparation has been a waste. Although many believe that all interviews are beneficial to one’s professional growth, if the role is far from a good fit, it’s important for candidates to know this early on. Transparency is critical when it comes to responsibilities, location, salary range and company culture, and hiring managers need to be considerate of this in order to keep the process efficient for their candidates, and themselves.
3. Communicate Your Decision
The job market is competitive and job seekers know they’re not the only candidate in the running for most opportunities. If an individual is not the right fit or no longer being considered, it’s imperative for hiring managers to communicate this to the candidate in a timely manner – and not leave them in the dark.
I’ve seen it play out all too often where the hiring manager chooses a candidate and simply ghosts the others in the running. Whether you’re a hiring manager or a job seeker, the act of ghosting is never okay. This bad habit is unprofessional and can give you and/or your company a bad name … For candidates who’ve been rejected, it’s critical to not only move on from a potential opportunity, but to learn from it and use the feedback to improve in the future. None of this is possible, unless decisions are communicated properly and timely.
4. Expect to be interviewed by the candidate
With the talent having the upper-hand in todays market, it’s just as important for the candidate to interview the hiring company – as it is the other way around. The job seeker wants to understand the role, know what to expect from the team, assess their growth potential, and gain a good pulse on the culture. Therefore, it’s important to be prepared to answer questions from the interviewee during the interview. Be sure to answer the candidate’s questions openly and honestly. Your responses will help them get a better gauge on the company. As a manager and potential colleague, candidates will value your insight and it will ultimately help them in making a decision.
Do you have any other suggestions on how to boost a hiring process? Comment below!