Time is Money
by Heat Recruitment
Have you been attracting the ‘right’ people into your business? Are you struggling to understand why your recent candidates are choosing to join your competitors? And have you been meeting your expansion and growth targets?
Below I have listed an example for you, of an issue which occurred recently, it demonstrated how the lack of efficiency in a company’s recruitment process, meant the hiring manger lost out on a highly skilled potential employee to their competition;
Recently one of our consultants sent across a CV to a client (Client A) within three days of receiving a job spec. The consultant and candidate both followed up on the status of application, however it took 2 weeks before any interest was expressed from Client A, prompting the candidate to attend other interviews. During an interview for Client B (competitor) a managing partner was present, the candidate was then offered a positon within the company 2 days later. Once Client A had been made aware of the offer presented to the candidate they brought the interview forward and counter offered the candidate. Client A’s position had always been more appealing however due to the mistreatment they felt they had experienced from Client A throughout the beginning stages of application they declined this offer.
As the ratio of Candidate talent to Vacancies continues to dwindle in a competitive Business market, it’s vitally important the first taster of what it may be like to work within your company is demonstrated through the recruitment process.
Looking for a new job is an important and time consuming task to most, and in a candidate controlled market, multiple job offers will be pitched to a skilled individual on a daily basis, giving them the scope to be selective with the interviews they pursue. Keeping waiting time to a minim once a candidate has expressed interest in working for your company is a respectful gesture towards the candidate needs.
I wish I could say this is an isolated incident, however we are regularly seeing clients win and lose candidates down to their recruitment process. It’s understandable that hiring managers and Recruitment/HR departments are extremely busy, however in a market that is so fiercely competitive organisations need to act fast, and keep candidates up to date throughout the process- no news to a candidate waiting for feedback is still news.
Ask yourself – Is our recruitment process helping or hindering the right level of candidate entering into our business?
Fill in the gaps, re-evaluate your recruitment process, extra added efficiency will save you time and money in the long run.
The old adage of time kills deals is no more appropriate to the situation explained here.