How Not to Lose a Candidate (In 7 Days!)Shannon Hall
A recent article from CNBC reports that 70% of jobseekers lose interest in a job if they don’t hear back within 7 days. It’s a candidate’s market. With a low unemployment rate and a growing demand to fill jobs, jobseekers are in the driver’s seat. Candidates have greater freedom to explore their options and can find new opportunities at a rapid pace. Without proper engagement, a positive candidate experience, and a streamlined hiring process, candidates will quickly move on. Read our tips below in order to remain a competitive employer in a candidate-driven market.
Speed up Onboarding
Making sure your onboarding process is quick and efficient will help you retain new employees as well as give a great first impression. The onboarding process can sometimes make or break a candidate’s opinion of a company, and if it’s not done correctly it’s more likely for candidates to jump ship for better, quicker opportunities. A recent survey conducted by Harris Insights tells us that almost a third of employees believe their company’s onboarding process was insufficient. One strategy to improve your onboarding process is to digitalize forms and handbooks so that employees can either sign digitally or print and fill them out beforehand. This saves from tedious first-day paperwork and ensures that your employee is prepared to settle in and begin working in their roles. With most of the paperwork out of the way, there’s greater opportunity to focus on the new employee and helping them settle into their role.
Invest in Hiring Technology
Forbes measures the national average number of applications for a single job posting at 118, but for larger companies this number is often even more. With a high volume of applicants comes great responsibility. It’s important that you reach out to potential employees in order to keep them engaged in order to keep their interest. It helps improve the candidate experience if you clearly communicate the steps in the interviewing and hiring process as well as frequent updates regarding the candidate’s status. Investing in the technology to handle some of these steps for you can save a lot of time and help streamline the entire process. A good applicant tracking system (ATS) can help maintain the line of communication during the application and hiring process.
Simplify the Interview Process
Employers need to interview candidates quickly in order to keep their interest and engagement. Scheduling the interview common speedbump when the candidate reaches the interview stage. Too much back and forth between employers and candidates can draw out the process unnecessarily. Employers can streamline this process by sharing their calendar with candidates or using special interview scheduling software. If availability is limited for face-to-face interviews, employers might consider using Skype or other video chat platforms. This is particularly useful for a multi-step interview process in which the candidate will need to speak to more than one interviewer. The worst thing to do is to stretch the interview process out for weeks at a time. Candidates will lose interest if they don’t hear from you in 7 days.
Remain Competitive with Wages & Benefits
Candidates are able to leave their jobs for significantly better pay. We see people being headhunted out of positions for better pay or benefits, sometimes even soon after starting a new job. If you’re not offering at least the current market rate for wages, candidates will look elsewhere. Be sure to stay informed and be aware of changes to market rates. Benefits can also help attract and retain candidates. Sometimes candidates are willing to take a lower salary for better benefits. Work from home options and vacation benefits can help improve the work-life balance which is high in demand for candidates. The best way to stay competitive is to know what your competition is offering. If your wages and benefits don’t compare, candidates will quickly lose interest and move on.
With a growing talent shortage, candidates have more freedom within a tight labor market. It’s essential for employers to remain competitive, simplify and speed up their hiring process, and keep candidates engaged. Candidates will quickly turn away from employers who can’t keep up.
Bradley Staffing Group is a full-service staffing firm based in Wayne, PA. We are committed to matching A-level talent with best-in-class businesses. Our knowledgeable and well-trained staff brings a combined 70+ years of staffing experience to our clients and candidates alike. https://bradleystaffinggroup.com/contact-us/