Recruiters, It’s Time To Put a Ring On It
We’ve all seen that romantic movie plot.
The one where the guy wants the girl but by the time he makes up his mind, she’s already engaged to someone else. However, the guy rushes and interrupts the wedding, and how about that, she realizes she made a mistake. They live happily ever after together! While the beginning may sound familiar to recruiters, the ending definitely doesn’t.
After over 20 years of recruiting, I have seen many love affairs between companies and candidates that don’t work out in the end. The reason why? Timing. Recruiters are taking too long to close the deal.
Too much time is taking place between receiving the resume and setting the initial phone call. Then there’s the waiting period between initial phone call and the in-person interviews. Finally, when they’ve decided on a candidate, they’re taking too long to make the offer.
It’s not all on the recruiters; it’s the managers and interviewers as well. Scheduling becomes difficult to manage, and the long amount of time can kill a deal. By the time a decision is made, a candidate may have already accepted another job offer. Don’t forget – you’re not the only place the candidate is interviewing.
Don’t believe me? Here are some facts that may wake you up:
- For 40% of recruiters the process takes 5 -6 weeks, and for 31%, 3 – 4 weeks.
- The 2 key obstacles to growing headcount are a shortage of candidates and lengthy hiring practices.
- 48% of recruiters said they usually conduct three interviews per candidate.
- 47% of declined offers in the second half of 2015 were due to candidates accepting other jobs
- Most rejections come after a candidate has to endure 2 – 3 interviews. Job seekers most often reject offers 3 – 4 weeks after the first interview.
- As for callbacks, 66% of job seekers said they would wait only two weeks. After, they consider the job a lost cause and move on to other opportunities.
- The best candidates are off the market within 10 days.
Time is not your friend. You have to act fast in order to snag the best candidates. Otherwise, trust me, someone else will swoop in and pick them up.
However, there are ways you can use these stats to your advantage.
Know you need to work quickly. If there is a job opening, have a coordinated effort in place between Human Resources and managers. Have preselected interview dates and times to choose from. Set a salary and expectation beforehand. Most importantly, be ready to close the deal the day of the interview. Or, at the very least, the next day.
Speed will help you succeed in finding the best candidates and beating your competition. Unlike the romantic comedy, someone else will never even court the prospect before you put a ring on it.
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