Recruitment can be hit or miss. You’ll never get the hiring process perfect. However, if you’ve seen more misses than hits lately, it might be time for a review.
Running an efficient and effective process is the key to getting maximum value out of your hiring efforts. Most estimates suggest that the best candidates come off the market in their first 10 days of availability. That doesn’t give you much time to make contact and drive home your pitch.
In fact, the numbers are against you. Some estimates say that the average time it takes for a company to fill a position comes in at 42 days, with an average expense of over $4,000. See the problem there? If the best candidates are gone in 10 days, an average recruitment process will have you chasing them more than a month late…all while spending thousands of dollars for the privilege of settling for second-tier choices.
Clearly, it pays to optimize your recruiting program. But how? What can you do to improve your procedures? That’s where a review comes in. You can evaluate your current process and see where you can make upgrades.
Here are some steps to keep in mind:
Take a Systematic Approach
It’s easy to get swayed by anecdotal evidence. You overvalue the techniques that found your last great employee. At the same time, you quickly dismiss the process that resulted in your last dud. It’s tempting to make sweeping changes based on this limited data.
Don’t fall into this trap. Rather than focus on a handful of big successes and serious failures, take a systematic approach to your review. Collect as much data as possible and subject it to rigorous analysis.
Gather Second Opinions (And Third Opinions…And Fourth Opinions)
The process of gathering data involves seeking out different perspectives. Start by talking to your current employees. After all, they presumably went through your hiring process at one time. They will have valuable feedback for improving your policies and procedures.
Also, consider contacting former candidates who didn’t receive job offers. They might be less open to providing feedback, but they will have a valuable perspective as well.
Consider Expanding Your Remote Capabilities
COVID-19 has had a major impact on business in general. In the recruitment sphere, one of the key consequences has been accelerated adoption of remote hiring techniques. Learn from this crisis. Incorporate these procedures into your long-term hiring methodology. It can open up your talent pool and streamline the process.
Respond to the Market
The labor market has entered a volatile time. After years of near-historically low unemployment, The COVID-19 outbreak has thrown millions of workers into the labor pool. It will change the way companies handle their recruitment efforts. Keep this in mind as you review your current procedures.
There’s a larger lesson here too. Looking longer-term, realize that the labor market undergoes constant change. What works now might not work in other circumstances. When optimizing your procedures, review the reigning market forces in order to make better decisions.
Schedule Regular Reviews
Don’t make reviews of your hiring process a sporadic event. Now that you’ve taken the steps to improve, try not to fall behind again. Schedule routine evaluations of your process. That way, you can make incremental improvements, rather than relying on occasional overhauls to keep pace with the market.
Want to optimize your hiring process? Expert advice can help. By teaming with a first-rate recruiting firm, like DHR, you get the industry knowledge you need to find the right workers.
Contact DHR today to learn how they can upgrade your team.