The Need for Speed in the Talent War

April 16th, 2019 by ifi-admin

Photo of technology business people from all over the globe having a discussionScott Wintrip presented the keynote speech recently at the NPAWorldwide’s* annual conference on the topic of “Just-in-Time Talent.” This topic inspired us to round up top tips to help improve your company’s speed in talent acquisition.

Is Your Hiring Process Up To Speed?

Hiring technically talented individuals in today’s incredibly tight market is difficult, labor-intensive, and stressful. Worse, quite often all that hard work goes to waste because by the time you’re ready to make an offer to a candidate, he or she is already off the market, scooped up by your competitor.

“It’s extremely competitive out there. If your company’s employment process can’t adapt to agile hiring practices, there’s a good chance you could lose out on the best candidates,” says Kay Durkin, founder of Phoenix Partners.

“Time invested in creating a well-designed, fast, efficient hiring process pays great dividends in team building. It also communicates the kind of corporate culture candidates seek,” she said.

Recruiters’ Secrets – Nurture the Pipeline!

The reason many Independent Recruiters such as Durkin are more adept at quickly filling open positions is because they nurture the candidate pipeline before there’s even a job opening to fill. Having a candidate pool that is too small puts a company at risk of being left behind. So your choices are to constantly build and communicate regularly with a prospective candidate pool, or choose to using Independent Recruiters for this portion of the hiring process.

Fast, Early Candidate Communication – Studies on candidate engagement show that this activity actually starts early in the hiring process, and that communication is key. When a top candidate applies for one of your key jobs, act quickly before they are off the job market. Even if a candidate is not “perfect” for the open position, quick and frequent communication about the process and other opportunities will help you build credibility with candidates that may fill future roles.

Reduce Delays in Assessment – In many cases, slow scheduling of interviews and then delayed decision making by hiring managers are two problem areas. One way to combat this is to use telephone interviews for the first round of assessment because they are easier to schedule and they don’t require travel. “Speed dating” type interviews can also be used to reduce the time it takes to identify both top-quality and outlier candidates. For the second round of interviews, remote video interviews also reduce travel and scheduling roadblocks.

Reduce the Number of Interviews – Research by Google revealed that after two interviews, very little assessment accuracy is added. And after four interviews with a single individual, almost no assessment value is added. Reducing the number of interviews can save time, reduce candidate frustration, and speed up your decision- making.
Schedule a Weekly Open Day for Hiring Managers – By setting aside a pre-agreed day each week for all hiring managers with open positions to do candidate interviews, you can avoid schedule delays and be ready for fast, efficient decisions. To add even more effectiveness to this strategy, create a “block” of off-hours time for scheduling interviews in order to increase the likelihood that candidates are available to meet.

Engage In Simultaneous Reference Checking – Don’t wait until the final candidate is selected to start reference checking. Instead, check the references of the two or three top candidates at the same time as their final interviews. Also, in order to speed up the process, consider using an outside vendor to check references.

Same-Day Interviews – Holding all interviews for a given open position on a single day makes it much easier to compare candidates side by side and gives the hiring committee a dedicated day to ensure the assessment is broad and thorough.

Use a Hiring Committee – According to Forbes, many individual managers hire infrequently. And as a result, their decision-making tends to be slow. Firms like Google and Intuit have found that a well-trained permanent hiring committee with a structured process and using a skills profile defined by the hiring manager, is clearly superior in both speed and decision quality. The fact that committee members are involved in hiring so frequently makes it much easier for them to make fast and accurate decisions.

Do you need help speeding up your hiring process? Contact Phoenix Partners.

*NPAWorldwide is an international recruiter network that enables members to extend their reach throughout the Americas, Europe, Asia, Australia and Africa. Phoenix Partners is an NPAWorldwide network member. Contact us to learn more.

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