If your company is poised to add to its workforce, you may be surprised to learn the talent pool has shifted dramatically over the past several months. When the economy plummeted, the only people looking for work were those who were out of work. With an improved economic outlook, "passive" job-seekers (those who are currently employed) are starting to think about exploring other possibilities. A short time ago, these same people felt thankful just to have jobs, but now they feel confident enough to begin job searches. This means the pool of potential candidates may be more plentiful, but these people may also have more options for employment (including staying put!) so competition for finding and hiring top talent has increased. Companies that can move quickly and tailor their interview process to accommodate this changing dynamic—yet still perform the due diligence necessary to make sound hiring decisions—can put themselves in a better position to succeed.
Here is how your company can gain an advantage in attracting this top talent.
Know What You Want
Don’t just jump into the hiring process. Have a plan. Talk to managers and staff to determine what your organization REALLY needs and what roles need to be filled within the company. Once you have determined the positions, get specific. Identify the particular skills and experience the people who fill those roles should possess. Where can you be flexible? What skills are non-negotiable? The more you know about the type of candidate you’re looking for, the easier it will be to find that person.
Create a Timeline
It is helpful to make the hiring process task oriented and develop a timeline with milestones to keep everyone on track. A timeline might look something like this:
Review Your Process
Is there any way to streamline hiring procedures? A rigorous or time-intensive process may mean missing out on that "perfect" employee. That doesn’t mean you should rush. The hiring process should be deliberate and thorough as the costs of hiring the wrong person are too great. There may be ways to combine or eliminate steps. For example, could you replace an in-person meeting with a phone interview, or schedule multiple face-to-face meetings on the same afternoon? Are you open to meeting employed candidates before or after normal business hours if necessary?
Emphasize Communication
Everyone wants to be "loved." If your team is truly interested in a candidate, don’t play hard-to-get. Replace "We’ll let you know" with details as to where the candidate stands. If the process gets delayed due to illness, vacations, business trips or busy schedules, let the candidate know the reasons. When delays occur, a call from the hiring manager to explain the situation and reinforce the organization’s interest can go a long way.
Plan for Flexibility
Summer is almost here and with summer comes vacation schedules—for employees and candidates. Don’t let vacations stall the hiring process. Consider taking some unconventional approaches to "meeting" during the summer months. Is it possible to have a conference call or meet via web cam? Do you have a back-up plan in place for in-person meetings? For example, if the VP is unavailable, can a Director do the interview? Could a colleague from a department sit in for a manager?
In just a few short months, the job market and the talent pool have changed. There are more talented people and more competition to get them. Organizations that can tighten up and expedite their hiring processes will be better poised to draw in the best candidates—and hire the best people.
About the Author: Dave Sanford is Executive Vice President of Business Development at Winter, Wyman (www.winterwyman.com), a leading staffing firm specializing in permanent and contract placements in Accounting and Finance, HR and Technology and headquartered in Waltham, MA.