Competition for Top Talent Is Heating Up. Has Your Recruiting Process Kept Up?
There is clear evidence now in the Greater Cincinnati market that the level of employment activity for executive talent has definitely picked up. Good economic news to be sure, but some employers have been missing out on hiring the candidates they prefer. It is much more common, recently, for strong individuals to be exploring several active job opportunities simultaneously, and often to have multiple job offers in hand. Candidates are also being more discriminating about the positions they pursue, depending in part on how well they are treated during the entire recruiting process. This trend is also true on a national level. A recent ExecuNet survey of executive search firms indicated a return to pre-recession levels of activity, with 53% agreeing that candidates have more than one offer to consider. Savvy employers are reviewing their own in-house behavior to assess whether their screening and hiring practices might be causing them to lose great candidates to other opportunities. Here is a partial list of things to consider: - Regardless of source of the candidates, are they assessed quickly, with strong candidates moved very promptly into the early interview stage? Is that first interview decision communicated to the candidate immediately? - Does the candidate get preliminary feedback after the interview(s) within 48 hours, including scheduling of the next step? - Do your interviewing managers consistently put any scheduled interviews as their absolute "Number 1" priority on the day of the interview? - Are the interviewing managers "selling" the company and the position in addition to assessing the candidate? - Do you maximize the candidate's use of time on-site (e.g. meeting multiple stakeholders) to shorten the time to a hiring decision? - After the decision to move forward is made, are the offer details generated within 24 hours, and delivered verbally to the candidate immediately, with an e-mail version to follow? - Once the candidate has the offer in hand, does a Senior Manager (the higher the better) phone the candidate directly to respond to any questions and personally encourage a "yes" decision? The common themes: Keep the process moving, communicate with candidates along the way, and sell the opportunity throughout the interview process. Now is a great time to review your hiring practices to make sure you've adjusted to today's more competitive candidate market.
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