Subline – A recruitment report by Harvard Business Review claims that employers in the US spend an average of $4,129 per job during the hiring process. 40% of US companies outsource much, if not all, of the hiring process.
The situation in India is not hunky-dory either. You will be surprised to know that only 13% of employers across the country have upbeat hiring plans every quarter, according to the 2019 ManpowerGroup Employment Outlook survey.
Despite the slowdown, the job market, overall, looks consistent with employers focusing more on hiring quality rather than doing so in bulk in recent times.
Since significant amounts of money, time, and human resources are allocated for the job, companies must meet the required standards or retain even their best candidates.
Let us see how recruiters can roll out job offers in a more efficient manner, with 7 actionable tips and examples.
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1. Compensation and benefits
One of the most common reasons for employers not being able to retain potential candidates is their inability to match up to candidates’ expectations when it comes to compensating them and giving apt benefits when they join.
While not every candidate might deserve the compensation they expect, negotiating to the last penny is not a very good idea either because it reflects poorly on the employer, and also costs time.
Therefore, it is essential for you, as the employer, to be able to gauge a candidate’s capability and experience and compensate him or her accordingly.
While this is the ideal scenario, as per a survey titled “2019 Compensation Best Practices”, the majority of companies do not share the pay range with their employees and job candidates.
2. Job description and expectations
Right from the start, communicate with potential candidates what the job role entails and the company culture. No one likes to come into work, not knowing what their day will look like. Four percent of employees leave a company because of a bad first day.
Conduct a casual meeting that enables candidates to interact with their peers and reporting managers. The practice will help them ease into their position and become familiar with the work and the people they will be working with.
GitHub, the world’s leading community for developers to share, discover and build projects does an excellent job at describing their job requirements precisely, at the same time covering all the details.
Rolling out a job offer too soon and being pushy may scare the candidates off. However, making them wait too long before offering them the job is not a good idea either.
As an employer, depending on the need to hire, make sure you ask your candidates how much time they need to think about the offer. Discuss and clear their queries. Then take the process forward.
4. Screening and assessment
Most companies carry out various screening tests, assessment programs, and interviews over a period of time. The long, drawn-out process is tedious, often loses out on promising candidates, and become an expensive affair for the employer.
Therefore, you would benefit from streamlining the screening and recruitment process by having predefined processes in place. For example: don’t have more than two rounds for a fresher or lock it at five rounds for filling a VP position.
G2Crowd, a business services and software review firm has shared an overview of their interview process on their “Career page”.
A candidate, once hired, must be appropriately acknowledged and updated regularly before joining the company. Sharing updates and personalized emails tell the candidate that the company cares about its employees.
The cosmetics brand L’Oreal goes a step further. They have created a game-like app for onboarding, which serves as a support buddy and is an information center.
The app assists newcomers to understand the company culture. It reaches 10,000 new hires every year and is available in 11 languages, thus embracing multi-culturism.
89% of companies say that incorporating company culture into the onboarding process is vital. On the same lines, ensure that your team and the senior management invest in an onboarding process to give the new employees all the opportunities to succeed.
6. Clear communication
With most of the recruitment processes being done online, there is little human interaction, and this sometimes creates a gap in communication. Candidates want complete information about the company, the job role, and the compensation. It is essential to communicate and update the candidate regularly.
Another useful approach would be for employers to gather feedback from candidates about the recruitment process and what improvements can be made to better the same.
At our company Springworks, we assign a SpringBuddy to every new hire. This helps the new members to understand our work culture and their role quicker and efficiently.
Selected candidates must be given a pre-onboarding orientation that allows them to interact with other employees, take part in org-wide events, and so on. This will enable them to connect with peers and develop a sense of loyalty for the organization.
For Warby Parker, a retailer of prescription glasses and sunglasses, the onboarding starts before the new hire arrives to work on the first day.
They start with sending an electronic welcome packet that has the company’s history, values, press coverage and information they should know in their first day, week and month. Also, to ensure that the newcomer turns up on the first day, the night before, they get a call from their supervisor with “why and when to show up”.
Summing it up
90% of large enterprises and 68% of small businesses are estimated to use an Application Tracking System (ATS) to simplify their hiring process.
With ATS, you can sift through multiple online profiles and various data sources to find candidates that match the skills and location of your job quickly and efficiently. Structure of your interviewing approach and focus on metric-based recruiting.
If you choose the right tool, you can save time and money, and ensure quality hiring for your company. SpringRecruit is an upcoming tracking system for the same. Learn more about it here.