Candidate Versus Applicant

Companies Lose Talent Because they treat Candidates like Applicants
 
Human Resources Consultant - May 2010
   
BECAUSE OF SLOW DECISIONS

One of the world’s largest network of professional independent recruiting firms, surveyed its Preferred Members in search of hiring practices throughout the country. The recruiters whom they surveyed place candidates in middle- to upper-level positions in many specialties and industries, including sales, engineering, manufacturing, data processing, accounting, etc. These recruiters are involved in the hiring process on a daily basis with companies of all sizes.

BECAUSE TIMING IS EVERYTHING

Corporate America’s traditional interviewing, evaluating, and hiring processes are causing companies to "let the good candidates get away because they are treating them like applicants." The following guidelines have been established to help hiring managers get the qualified candidates before their competitors do:

•94.4% of the Respondents encourage Telephone Interviews within three business days of becoming aware of a qualified candidate.

•85.8% of respondents encourage Face-To-Face Interviews within eight days unless traveling to the site is required.

•78.7% of respondents encourage Extending an Offer or making a decision not to hire within six days of the face-to-face interview.

BECAUSE CANDIDATES ARE DIFFERENT THAN APPLICANTS

Whether the hiring market is weak or strong when you need to hire for a specific position and want to attract the strongest candidates that have the critical-skills necessary for the position! The Hiring Manager’s responsibility is to "sell" the quality, financial stability, and advancement opportunities of the company to the candidate as much and maybe even more in a weak hiring market. Today, the "best candidates" are still being sought after and receiving multiple offers from the "best companies." You are competing with these companies for limited resources. In the Network Survey, 81.5% of the respondents indicated that there is an extreme shortage of available candidates who are truly qualified for their clients’ job openings, and 86.2% feel the shortage is getting worse!

BOTTOM LINE: Companies Move Too Slowly

Slow response time is causing many companies to lose their most valuable resource -highly qualified candidate that can make a difference. Companies are allowing "top candidates" to go to their competitors, leaving positions unfilled or settling for second or third best, costing millions of dollars in lost revenue! Why? Survey respondents agree that the #1 reason why more than one-fifth of their clients’ job openings go unfilled is because their clients move too slowly to interview or to extend offers to the most qualified candidates. Companies who move quickly to hire gain a huge competitive advantage by getting top talent and maintaining full staffing levels, giving them an opportunity to gain market share when good time return.

ADVICE TO EMPLOYERS

Preparation is Key to Success

A Hiring Manager and Human Resource Manager should work openly and honestly with a top-notch recruiter in order to prepare your company for the hiring process. You need to focus on a job description that will get results. Further, everyone in the interview process needs to be on the same page. A top-notch recruiter will ask the right questions to help you identify your company’s needs and expectations. A good recruiter will also help you identify human attributes (personality, communication skills, corporate culture, etc.) that the "right" candidate should possess, including "must-have" attributes and "preferred" attributes. The better your job description, the faster you will find qualified candidates! This should be all done before the search begins. Equally as important, make sure that all interviewers have the best interests of the Company in mind and not just their own agenda or are just there to make themselves look smart by impeding progress. Unfortunately there are always a few people in Companies that are better known more for their hiring or sales prevention skills.

ADOPT A SENSE OF URGENCY

Once you make the decision to fill a position, be committed to that decision and make your hiring decisions quickly but not in haste. View the hiring process like a project; meet your goal of hiring the "best candidate" in the shortest amount of time. Indecisiveness, time delays, budget reviews, etc., send a message to the best candidates about the company’s lack of focus, especially during a weaker economy. Streamline the hiring process. The time involved in interviewing, evaluating, and hiring can be greatly reduced when participants in the hiring process are present for each step, ready to participate, and ready to make decisions. Eliminate the never ending interview process. Remember, the greater the talent of the candidate, the shorter the time he/she will be available and the better "recruiting" you will have to do in order to gain his/her acceptance.

COST BENIFIT ANALYISIS

The survey respondents’ #2 reason why their clients’ job openings go unfilled is that their clients misjudge the pay rate, benefits, perks, etc., necessary for the best quality candidate to accept the position. Good people are an "investment"-- not an "expense." If you want "the best" people working for your company, you have to be willing to pay them "the best." Extend your best offer the first time. Don’t play games. Keep abreast of changing salary scales, and price your jobs competitively. Listen to your "recruiter of choice" regarding the market’s going rate. Listen to the candidate’s concerns and produce an offer which alleviates these concerns. Offer a realistic relocation package. Add 10-15% on top of the cost-of-living differences to ensure that you do not lose top quality candidates over small details. Good recruiters know how to put together an overall package that will be accepted. Don’t expect a candidate who is currently emplyed to except a lesser or the same salary unless they really want out of their current position (you better find out why they really want out if they do) or your Company offers them some real long term upside.

GET THE BEST RECRUITING HELP AVAILABLE

Most companies use professional recruiters from time to time. Instead of working with dozens of recruiters, create a "preferred list" of just a few recruiters based on their performance and attention to your needs. This will save you time over the long haul and maximize your results. Include the recruiter on your company’s hiring team. A preferred recruiter is very helpful in structuring and extending a job offer to the candidate. In addition to recruiting top talent, good recruiters possess skills to help candidates evaluate and accept good offers. Remember, you get what you pay for. The best recruiters know they are the best and will not cut their fees. The more recruiters you use equal less attention to your project and you will get only resumes from databases rather than the search you are looking for. The best Recruiters tend to work the searches they have the best chance of succeeding at and with Companies that treat them as partners, not vendors.

“Moving the process along is very critical in all parts of a successful hire”

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