It never fails me, in my week to week engagement with senior leadership of Fortune 100 companies or large privately owned companies across the USA, how often the urgent can crowd out the important when it comes to speed to talent!
All too often, members of my staff and I, observe an incredible fit between an extraordinary talent and a job opportunity about to finalize only to be hijacked by an extended hiring protocol or process by the client or a distraction that the key client contact cannot extricate themselves from and resulting in the failure to place this one in a million talent for the job. Job opportunities to go to work for great companies all have a “shelf life” relative to availability, accessibility, and a timeline to engage and finalize. The same is true for the “shelf life” of extraordinary talent in the job market. They are NOT available all the time, awaiting for the client contact’s call back or follow up. Contrary to the organization that is courting such talent, the smartest and most capable candidates are NOT placing all of their chances in one basket but are out there aggressively interviewing and creating new opportunities in their job searches.
All too often, a sense of the job opportunity as viewed as the “only game in town” from the hiring manager’s perspective blinds any understanding or awareness that a lack of speed to talent will sabotage the best efforts of any organizations interest in landing the best and the brightest! A lengthy hiring process could be negatively impacting a company’s ability to hire the Tech and Digital Marketing talent you are after. The average length of the job interview process in the US sits at 23.8 days, according to Glassdoor’s 2017 analysis, up from only 13 days in 2011. And that is just the national average. A 2015 Deloitte study found that it took, on average, 94 days to recruit for highly skilled Tech roles. If your hiring process lasts several weeks or longer, it is time to reevaluate. Discover the benefits of hiring faster and learn why speed is crucial to netting your teams the hires they need. One of the top benefits of hiring faster is the money and valuable resources your business will save. Shortening the length of your hiring process reduces the amount of time hiring managers and HR or hiring departments have to spend recruiting, researching, and screening candidates. It also limits the amount of time hiring managers and team members that work directly with the available role have to spend interviewing, which, as we all know, is valuable time spent away from their day-to-day responsibilities. There is also the impact of missed opportunity costs. The ongoing cost of your unfilled role cannot be dismissed. Depending on the role, you may have to supplement the vacancy by expanding the workloads of your other employees, outsourcing to freelancers, or pushing back releases of new software or products all of which can only increase costs to your business revenue and money.
By hiring faster, you will save on valuable resources, like your hiring managers time, and the costs associated with the vacant role. A common problem many hiring managers and departments face is that by the time the decision is made, and a candidate is fully approved and cleared, the candidate is no longer interested or available due to increased demand for their niche skill sets. Having a longer interview process means you risk losing the high-end candidates you are interested into other opportunities. Limiting the interview process to a few days or weeks rather than a month or longer ensures the high-quality talent you are most interested in is still available once the final decision is made. The faster and more efficient your hiring process, the fewer offers you will have to compete with to land the high-end Digital Marketing or Tech expert you want. If they do not have time to interview or explore opportunities elsewhere during the hiring process, then they will be more likely to accept the job offer you extend. While a longer hiring process will give the decision makers at your business more time to fully agree on a hire, it could result in more back and forth with the candidate in terms of negotiations or a rejected job offer. While additional screening elements have lengthened the hiring process of companies across the board, there are invaluable benefits to prioritizing speed. Speed to Talent needs to be the MANTRA of any organization interested in topflight talent that can dramatically move the needle for their company.
This “What do you say Jay?” Blog is supported by not only the real time experience of Jay Martin and the staff at Talentmatch, but also an article by Shannon Vize and her article on DIGITAL MARKETING HIRING FEATURED HIRING TIPS TECH HIRING published by CIO, Forbes, TechRepublic, and others.
For a listing of new job opportunities, coast to coast and a selection of Professional Services and Sales and Marketing Aid downloads, please visit TalentMatch, a 20 year LLC Professional Services and Recruitment Agency (www.talentmatch.net )