- On June 23, 2015
For a long time, recruiters have been complaining of a severe hiring crunch at all levels. There’s a constant war for great talent and somehow demand always seems to outstrip supply. That’s another blog post all together.
In this day of information overload, how do you find the right candidates? Also due to a connected world, there’s so much out there about each company so how does one company especially a startup stand out ? There’s intense competition and pressure on leadership to make the right hires. Research shows that each wrong hire costs the company dramatically and this can be especially so for young companies. Each wrong hire can put back a company’s plans by many months.
That is why employer branding and having a well thought of & executed recruitment process is so important.
When I see my best hires for clients, almost all of them have been passive candidates – meaning ones who have not been in the market. So there is a lot of competition among big companies, medium companies, VC funded startups to find and recruit such passive candidates. But it’s a huge effort and unless a company has developed a mindset and processes for this, it will not happen. Again, when I see which clients the best hires went to, they were the ones who made the whole recruitment process a delight.
In today’s connected world, it’s very simple for passive candidates to quickly do research on a company and if there’s not enough “branding” out there, these candidates may not respond. This is not true only for the millennials but also senior candidates. From the website, to you tube videos to LinkedIn to SEO to online PR to slide-share, every company is out there competing for talent. What is your company’s culture, why should candidates join the company, etc etc. Building a brand only for customers is not enough – a company’s employees and future employees should also be treated like customers.
And that’s why it’s also important to build a great recruitment experience or I call it RX.
And here are some quick pointers for recruiters or founders to note, based on my experience with large highly professional global companies I have worked with.
Every candidate who applies for a job with your company, entry level or senior, whether he or she gets an interview or not, whether they get the job or not, HAS to go back being WOWed with the whole experience. There is no better way to spread the word that yours is a company where people are respected and cherished, and therefore a great place to work.
The first thing to get right is the job description, KRAs, KPIs and salary band.
-the job description should be as detailed as possible
– list down all the expectations of the role : the hard skills required and also the soft skills required.
– the hiring manager or founder should profile the kind of person he or she feels will fit the particular job position.
– have a clear salary budget for each role and an upper cap
Screening and shortlisting :
– very important to give timely feedback to shortlisted and rejected candidates.
– for candidates who were rejected, a message thanking them for their interest and if possible the reason for rejection should be provided
– there’s a possibility that they could be contacted in the future for roles that they may be suitable for. You never know.
– they will be glad to get prompt feedback – a common compliant against total silence after applying – and this will spread by WOM