5 reasons why hiring processes are putting off top talent
In the complex world of hiring, finding the right balance often feels like a juggling act. You've secured additional positions and are in a rush to bring in professionals, yet the pressure to make the right hiring decisions from the outset looms large.
In these circumstances, when every new hire is like gold dust, it’s not uncommon for companies today to conduct six or more interviews, introducing the preferred candidate to every stakeholder in the business before signing off. Sometimes, even expanding the role requirements to meet additional priorities throughout the recruitment process.
As a consequence, these extended hiring processes are leading to increased time-to-hire, negatively affecting the candidate experience, and this, along with other factors is resulting in top talent dropping out of the recruitment process.
“70% of hiring managers lost out on hiring talent in the last 6 months.”
-Morgan Mckinley Global Workforce Survey 2023
How can companies adapt their recruitment strategies to ensure they have the greatest chance of success when hiring top-tier talent?
By strategically optimising the process, you not only save time but also create a positive candidate experience that reflects your company's professionalism.
We recently conducted research into various workplace trends by surveying 3,400+ professionals globally, including what causes them to walk away from potential opportunities during the interview/application process.
Here are the 5 top reasons and how you can tackle this in your business::
1. Ensuring competitive salaries for skilled talent
Benchmark your offers on current market conditions: Pay is obviously one of the primary drivers when it comes to moving jobs. Ensuring that your offers align with industry standards and candidate expectations is crucial - partnering with recruitment agencies can really help here.
2. Unprofessional approach from their interviewer negatively affects brand perception
Make sure your interviewers are well-informed and trained: It’s vital that anyone conducting an interview on behalf of your company understand that they are not only assessing the potential new employee, but the candidate will also be assessing your company based on their attitude and approach.
3. Jobseekers seek more flexibility on work patterns and locations
Consider how you can offer flexible working: In a world where work-life balance is a priority for many candidates, flexibility is a prized trait. Candidates are more likely to accept an offer from you over your competitors if you offer greater flexibility in working patterns.
4. Lack of clarity on the specifics of the role
Take time to create clear job descriptions at the beginning of the recruitment process: Start with well-crafted job ads that outline the responsibilities, qualifications, and expectations. This simplifies the hiring process by reducing the chance of applications from ineligible people, and avoids roles being undefined during the interview process.
5. Frustration mounts for candidates as a result of too many interview rounds and slow decision making in hiring
Keep your interview rounds sharp: Think about combining technical and cultural evaluations or employing panel interviews to evaluate candidates from various angles at once. The length and complexity of the interview process can vary significantly, depending on the nature of the role and the industry.
For managerial positions, 3-5 rounds are considered reasonable. Individual contributors and many temp and contract roles would benefit from a streamlined approach. A longer interview process can generate insecurity and frustration among the candidates.
Bonus: Provide timely feedback: Candidates have high expectations of communication throughout the process. Delayed responses may cause candidates to become uninterested or frustrated, and could result in you losing out on excellent talent to competitors.
Employer Branding: Shaping perceptions and culture
Employer branding is a potent tool that can sway a candidate's decision in your favour - it’s extremely important to your hiring process.
Our survey revealed these as the top three ways candidates research your company when applying:
1. Your company website
2. Third-party company reviews
3. Contact existing employees they already know
A candidate's decision to join your company can be greatly influenced by a strong and genuine employer brand. Ask your staff to post about their experiences on websites like LinkedIn; genuine endorsements offer candidates a distinct perspective and give them an inside look at how your company functions.
Leverage technology to enhance your hiring process
Leveraging technology such as AI in recruitment doesn't just make the process efficient; it also adds a touch of modernity to your hiring practices. Yet only 7% of employers who responded to our research said that they use AI or Automation in their recruitment processes - there is an opportunity to get ahead of the curve if you adopt these tools early.
Those that use AI in recruitment already do so in the following ways:
- Sourcing candidates
- Scheduling candidates
- Onboarding candidates
- Screening candidates
Encourage feedback from candidates throughout
Feedback - both good and bad - from candidates who take part in your hiring process is important to help you understand strengths and weaknesses.
Professionals value the opportunity to have their say - and it will boost your employer brand as they perceive your company as open and transparent!
It is up to you whether you implement any changes on the back of their feedback, but there could be some useful insights that help improve your hiring process.
What are the benefits of optimising your hiring process?
An enhanced hiring process holds numerous advantages in today's business landscape:
- Efficiently attracting top talent
- Reducing the time to hire
- Saving costs through more streamlined operations
- Providing a positive experience for candidates
- Bolstering your employer brand
- Higher-quality hires
- More inclusive, diverse teams
- Fostering innovation
- Elevating employee engagement
Partner with recruitment experts for efficient hiring
You can find the best candidates faster with the help of experienced recruiters who bring industry-specific knowledge, extensive networks, and refined methodologies to the table.
A recruiting partner can offer key expertise and resources to streamline your hiring processes, whether you need specialised skills, have high-volume recruitment needs, or want to scale quickly. This can make a big difference in helping you meet your talent objectives and keep your business competitive.
Looking for hassle-free recruitment? Contact us today
