[This article was written by Michelle Delgado.]
According to recruiters, we’re living in a job seeker’s market. With unemployment low, many job seekers can afford to be picky about where they work – upping the level of competition companies should expect face when hiring their next employee.
Job seekers who are on the market don’t stay there for long. According to a recent survey, more than half of recent hires (58%) spent two months or less on their last job search. Once job seekers begin the interview process, nearly half (43%) receive a job offer within two weeks.
This means companies need to move fast to hire the talent they want.
If your company has extended offers to candidates who end up taking jobs elsewhere, you can use this article to learn how you can streamline your hiring process to increase your chances of success.
- Identify One Key Decision-Maker
Hiring is often a collaborative process, with multiple internal stakeholders coming together to ensure a candidate’s skills, experience, and personality are a great match. If there are too many stakeholders, however, the hiring process can slow to a glacial pace as leaders struggle to find time in their busy schedules to compare notes about a candidate.
Spreading authority over too many decision-makers can also lead to weaker hiring choices, according to Northwestern’s Kellogg School of Management: “Decisions that are escalated also tend to be more error-prone, as the people making the decision are further away from the data required to make the call.”
In general, the manager who the new hire will report to is in the best position to assess the business’s needs for a role and whether a candidate is a match. By giving one person final decision-making authority, your business can move faster when making the decision to extend an offer.
- Limit the Number of Interviews
Giving authority to one clear leader can also help to limit the number of interviews. Forcing candidates to go through too many rounds of interviews can give the impression that your business is indecisive or unsure of what they are looking for – plus, many candidates will simply accept an offer from a company that moved faster.
According to Google, companies are exponentially less likely to learn more valuable information about a candidate after four interviews. If your company conducts a screening interview, a phone interview, an in-person interview, and one additional conversation before extending an offer, you should be able to determine whether a candidate is a match for the role.
- Craft Detailed Job Descriptions
Interviewing too many candidates can lead to slow decision-making and lots of lag time in between stages of the interview process – running the risk that candidates will be scooped by your competitors. Companies that craft detailed, targeted job descriptions are less likely to waste time sifting through irrelevant resumes and cover letters.
Indeed, a popular job application portal, recommends including detailed information such as hard and soft skills, the past experiences you’re looking for, a description of the role’s daily activities, and a big picture description of how the role fits into your larger organization.
By creating a specific and detailed description of exactly who you’re looking for, you’re more likely to attract candidates who are a fit for your company’s needs, reducing the amount of time you waste evaluating candidates who aren’t a match.
- Create or Update an Online Application Portal
If your company requires candidates to send their application materials via email, it’s time to invest in setting up an online application portal. If your website can’t support a custom portal, or if your current portal has poor user experience, you can always direct candidates to a third-party site like Indeed or LinkedIn.
This helps your company in two important ways. First, online application portals are quicker and easier for candidates to fill out, generating more leads from interested candidates. Second, you can establish required fields on an online portal, eliminating incomplete applications that will send you chasing after candidates who might be qualified or wasting time reviewing applications that end up containing only half the information you need.
Today’s job market is competitive, but with a few simple steps, your company can begin to beat competitors when hiring top talent.
By creating detailed job descriptions and using an online application portal, you can improve the quality of the applications you receive. Once you’ve gathered applications, you should move quickly by limiting the number of interviews and identifying one decision-maker who has the authority to make a final hiring decision.
With these improvements in place, your business can hire candidates who can help it grow.