All firms of all sizes in all areas of business want the best candidates for the jobs they have available. However, in recent years, the employee-candidate paradigm has been reversed. Because of a shortage of talented candidates, there is more competition between companies for the talent that is available. So, rather than the job candidate having to sell him or herself to the company, the Hiring Manager's responsibility is to "sell" the quality, financial stability, and advancement opportunities of the company to the candidate.
It is now essential that firms revise their recruiting procedures and do not let the best candidates get away. Some simple adjustments should be enough for your company to stop those high quality candidates from going elsewhere.
Quick Response
Once you decide to fill a position, be committed to that decision and make hiring decisions quickly. View the hiring process like a project and ensure you 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 candidate about the company's lack of focus. If you wait two weeks following an interview to make an offer, your ideal candidate may have already accepted a job offer from elsewhere - even from one of your competitors.
Streamline the Hiring Process
Do you really need second and third interviews ? If you ensure that all the participants in the hiring process are available for the first interview, then decisions can be made quickly and effectively, ensuring that your firm has a better chance of recruiting the top talent.
If You Want The Best...
If you want the best...then you will need to pay the best. It may not be what most companies want to hear but it happens to be true. Don't misjudge the pay rate, benefits, perks, etc., necessary for the best quality candidate to accept the position; don't play games with lower than market rate offers.
Keep abreast of changing salary scales, and price your jobs competitively. If you don't know what the current market rate is, hire a recruiter who does and who can advise on all aspects of the recruiting process.
Get The Right Help
Bringing a professional recruiter in at an early stage will help prepare your company for the hiring process. A top-notch recruiter will ask the right questions to help you identify your company's needs and 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.
Choose a recruiter to work long term and they will soon be attuned to the exact needs and requirements of your company. Include the recruiter on your company's hiring team. A preferred recruiter is very helpful in structuring job descriptions so they stand out. And finding the recruiting angle that will draw superstars and in presenting the job offer to the candidate so it will be accepted. In addition to recruiting top talent, good recruiters possess skills to help candidates evaluate and accept good offers. This “third-party-input” to the candidate during the decision is critical to avoiding turn down and defusing counter offers.
With a streamlined recruiting procedure and the right approach to the top candidates, your firm will be one of those getting the best talent while your competitors are still wondering how that perfect candidate managed to get away.
About the Author: Joe Pelayo is President of Joseph Michaels Inc, a retained executive search firm with over 15 years experience recruiting top financial talent. The company recruits for clients like Sony and Coca Cola. Visit http://www.josephmichaels.com.
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