It’s a candidate’s market: 3 tips for employers
Wednesday, August 08, 2018
The recruiting process can be tough. A stronger economy and increasingly competitive sectors are making it even more difficult to retain the best candidates through multiple rounds of interviews to the offer.
How do you successfully land a great new employee when they have multiple strong offers? Here are three tips for employers in a candidate’s market.
One critical thing to remember is that candidates are more mobile and empowered than ever. In other words, they still have the power to walk out three months down the road and get another job.
The burden is on the employer to provide the work environment described in the interview process. Because of this, leaving a job quickly does not necessarily hurt a candidate when he returns to the job market.
How does this translate to the interview? Do not exaggerate, leave out information or gloss over challenges.
If anything, this is the time to be the most honest with candidates. By making sure they have a clear picture of what they will face on a daily and long term basis, we can reduce the risk of immediate turnover.
In competitive industries and markets, it pays to move quickly. We have to assume there are other offers on the table even during the first interview. Yet as critical as it is to move with haste, it is equally important not to skip steps in the interview process.
The pressure may be on, but to maintain control and objectivity in the interview process, we must continue to ask all appropriate questions; maintain the interview schedule; check references; and allow for follow-up.
If it is critical to accelerate the process, then do so without compromising it. Each step is just as important in a competitive market to ensure we weed out the posers and maintain our professionalism.
Similarly, if there is a budget for the position — stick to it. While we may have to raise the range a bit more, completely throwing it out the window is a recipe for disaster.
Some of the challenges of over-offering include disrupting internal parity in the office; setting a new trend; and losing our power in the interview process.
Instead, if it is important to get the person on board quickly and money seems to be the best way to do it, then consider a signing bonus. It allows for additional monies to the candidate but does not throw off the long term budget or the salary ranges.
The bottom line is, even if the position we are trying to fill is extremely competitive, it is still important to be transparent, stick to the process and honor the budget. Doing so respects current staff, maintains the organization’s professionalism and increases the likelihood of making a successful, long-term hire.
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