2017 hiring process: A full-court press

Written on Sep 21, 2017

CareerCenter_CPAVoice_SeptOct_17

By Elizabeth Kalakuntla

According to the statistics provided by the U.S. Department of Labor, the unemployment rate in Columbus in May 2017 was 3.7%. The trend of a low unemployment rate in recent years proves that employers need to have their game face on and tailor hiring processes to the candidate-driven market.

In basketball, a full-court press is an aggressive defense tactic that involves players guarding the opposing team over the entire length of the court. This is no different than putting in a huge effort to accomplish a common goal in the business world. It is essential employers call a full-court press to attract and retain top talent. It comes down to moving quickly, guarding against the competition and gaining the opportunity to take that game-winning shot!

If employers are not catering to the faster hiring processes needed to bring top talent into the major industries, their organization's talent level will suffer tremendously. According to LinkedIn statistics, 50% of companies take an average stretch of 1-2 months to hire talent. Even more disturbing, 17% of companies are taking 3-4 months to complete the hiring process.

The top advantages of a quick hiring process
Attracting and retaining top talent is the goal of every employer and to be an employer that candidates request to work for is an honor. It proves the employer has a strong reputation, people are speaking positively about the hiring process and other positive aspects of the organization are being recognized in the community. But top talent doesn’t stay on the market for long. This is why the hiring process needs to be organized, streamlined and efficient. A process of this caliber means being the first to extend an offer, hire the candidate and retain incoming talent for years to come.

3 negative consequences of a slow hiring process
Poor employer branding: With the internet at people’s fingertips, there is access to the good, the bad and the ugly of an organization. Per CareerArc, 72% of job seekers who have had a bad interviewing experience have shared it online or with someone else. Talk about poor employer branding! With that statistic in mind, it’s time for employers to take note and make changes. Highly skilled candidates can afford to be picky and it’s proven that a poor employer brand has rippling effects. A Harvard Business Review survey found nearly 50% of the individuals surveyed would not accept a job with a company with a negative reputation. And for those who think money is the key to happiness, a 10% raise would only tempt 28% of those individuals to join such a company.

Loss of interest: According to Robert Half, 46% of job seekers say they lose interest in a role if they have not heard back from a company within 1-2 weeks. This is the perfect way to miss out on top talent. Timing and communication is everything. While companies moving at a slower pace aren’t able to keep a candidate, the companies moving at a quicker pace will have already extended an offer and received an acceptance from the same candidate. The competition in 2017 is real and it’s undeniable that it comes down to the speed of the hiring process and the organization’s ability to make important hiring decisions under a strict timeline.

Bidding wars & unnecessary costs: The last situation any two competitors want is a bidding war on behalf of one talented candidate. In many cases, a bidding war will force an organization to pay up to 25% more by the end of the hiring process for the same talent they could have locked down weeks in advance. Expediting the hiring process is necessary for organizations to save money and stay on budget.

How to speed up the process
Remove unnecessary interviews: Candidates are run through the wringer when it comes to interviews. Usually, it begins with an initial phone screen, then an initial in-person interview, followed by one more panel interview and possibly yet another interview to finalize the process. This interview process is not only lengthy, but unnecessary. Glassdoor statistics show that on average, a phone interview will add roughly 8 days to a hiring process, in addition to a one-on-one and a panel interview each dragging out the hiring process another 5-6 days each. Although each step of the interview process is meant to create efficiency, it’s creating the exact opposite. In recent studies conducted by Robert Half, 33% of job seekers say that delays to set up interviews were the most aggravating part of applying for jobs. So, what are the options?

A popular go-to is a Skype video call. It’s personable, informative and convenient for both a candidate who is currently employed and a hiring manager who might have a busy travel schedule. According to Korn Ferry, 75% of companies say that a video is the best way to interview a candidate. Another way to speed up the process is by simply removing unnecessary interviews. If a phone screen is required, cut down on the on-site interviews. One on-site interview, if handled properly by the organization, should be plenty. Otherwise, the more drawn out the scheduling process is, the more likely top talent will drop out, forcing an organization to start their search over.

About Dawson
Dawson, a family-owned staffing and recruitment agency, is celebrating 70 years establishing careers. Operating in Columbus since 1946, Dawson places professionals in temporary, temp-to-hire, and full-time jobs in the fields of administrative, call center, skilled trades, accounting & finance, creative, information technology, engineering, legal, and healthcare. The acquisition of Atrium Personnel in 2016 added administrative and light industrial staffing operations in Mount Vernon, Heath/Newark, and Strasburg/New Philadelphia. Dawson is committed to the community with strong philanthropic and volunteer initiatives and has been honored with multiple “Top Workplace” awards by Columbus CEO magazine and “Best of Business” awards from Columbus Business First. Learn more, or find your next job today at dawsoncareers.com.

Dawson is a preferred partner with the OSCPAs. For additional information or to take advantage of your member benefit, contact Emily Costanzo, CSP at 614.255.1316 or ecostanzo@dawsoncareers.com. To view what we have to offer: https://www.ohiocpa.com/membership/ways-to-save/affinity-partners/dawson

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