How can your business enhance its hiring process?
What was once an employer’s market in terms of hiring workers and increasing the ranks, is now in the hands of potential applicants and new hires, with a noticeable transition to a job seeker’s market.
As this change occurs, employers must be ready to adapt to new hire needs, as well as in some cases overhauling their on boarding system as a whole.
Why is recruiting take a backseat?
Recent research conducted by Talent Board, a nonprofit research organization for the recruiting industry, found that employers aren’t doing enough to meet this change, causing gaps in applications and jobs to be given to the wrong applicant.
What are businesses actually doing wrong?
Although many businesses are investing in LinkedIn, social media strategies and effective hiring teams, many are missing the mark on consistent, productive communication. The study highlighted how businesses are focusing on wasteful practices such as:
- Bad sourcing selections: Filter out bad applicants using a more in-depth process such as phone screenings or informational interviews. 88 percent of employees admitted to allowing applicants further than they should have in an interview process. This wastes time and money, as well as affects overall team morale.
- Non-specific job inquires: Less than one-third of applicants are asked to take an assessment before being hired, and only 50 percent are asked job-specific questions during the interview process.
- Using job boards: Using job boards at some points in the process may be effective, but only relying on this type of contact will stunt business growth. Relying on word of mouth or employees alerting potential candidates could make all the difference.
Close to 95 percent of companies reported recruiting the wrong people each year, losing thousands of dollars in revenue, as well as a clear path to better potential candidates.
Take a look at your business’s specific hiring process today in order to make an effective change.