Blog
January 12, 2022

A Guide to Leading the Race to Hire Exceptional Talent


Blog
January 12, 2022

A Guide to Leading the Race to Hire Exceptional Talent


Featured image for “A Guide to Leading the Race to Hire Exceptional Talent”

In the competitive business landscape that we live in today, to hire exceptional talent is no longer as easy as posting job openings on the newspaper’s classified ads or hiring a head hunter that holds exclusive access to a pool of talent.

Company executives, HR professionals, and recruiters struggle to hire exceptional talent effectively and on time. Each candidate in the market nowadays already works with five to six recruiters and receives a continuous stream of job offers. Besides that, social media platforms such as LinkedIn and even Facebook are avenues for employers to reach out to potential hires directly.

The competition for the best talent is so steep that the average candidate usually already has three offers on the table before accepting one. With a job-flooded market, how do employers and recruiting companies stay ahead of the race to acquire the best talent?

As the demand for talent continues to rise, employers and staffing businesses should be compelled to adapt to the future of work and implement practices that attract suitable candidates in the most efficient amount of time. It’s a candidate-centric market these days, and many employers are shifting hiring strategies to address potential talent needs and concerns.

With many employment opportunities, providing candidates with a positive but razor-sharp hiring process and a pleasant experience with your company is important. Business executives need to have an inviting and engaging recruitment structure or should consider hiring a staffing company that provides excellent candidate experience. Below are some ways you can be a cut above the competition and hire exceptional talent.

Speeding up the hiring process improves the candidate experience

With candidates having a myriad of job offers to choose from, your competitors can beat you to hire exceptional talent if your hiring process takes too much time.

57% of candidates think it typically takes a long wait to hear back from an employer after the interview. In fact, 39% of job seekers say that 7-14 days are already too long, while 23% of candidates are only willing to wait a week. Source

When the wait is too long, 57% of job seekers claim to lose interest in the job. We’re no longer living at a time when it’s acceptable for a company to take up to a month to hire for an open position. With candidates no longer interested in waiting, businesses and staffing agencies must hasten their time-to-hire.

There are various ways to speed up the hiring process and keep candidates engaged.

1. Organized Candidate Database to Hasten the Hiring Time

Having an existing pool of qualified candidates is one of the best ways to hasten the time it takes to hire exceptional talent. Instead of scouring through job boards and past correspondence, an organized database of candidates is key to a quicker hire. Building a dynamic candidate pool and consistently recruiting passive candidates cuts the candidate search time and shortens the hiring process.

2. Invest in high-quality software to Enhance Time-To-Hire

Investing in quality software hastens time-to-hire. A reliable applicant tracking system, data-driven recruiting technology, and software that removes barriers in the hiring process are highly advised for speedy and quality job placements.

3. Create Compelling Job Descriptions to Improve Time-To-Fill Rates

72% of applicants seeking some information on what it’s like to work for the business. A well-written and high-quality job description or job posting attracts more candidates and is likely to receive more qualified applicants. It is a glimpse into the company’s culture.

Job descriptions need to be clear and precise, giving candidates a straightforward idea of what the job entails. It should include all necessary company information, benefits and salary range, and a list of skills required for the position. This will help the job seekers determine whether they are qualified for the role and will save time spent filtering through unqualified candidates that may apply due to job postings lacking sufficient information. Posting job descriptions on multiple hiring platforms and social media channels also speeds up the hiring process and may even lead to referrals.

Improving interview accuracy leads to quality hires

Underqualified applicants may pass their interviews with flying colors and get hired but not perform very well on the job.

There’s always a possibility of great candidates being overlooked when applicant interviews aren’t streamlined or designed to gauge competency accurately. That’s why reviewing and improving the interview structure is crucial to determine effectively if a candidate is a right fit for the job.

Sometimes job interviews can be very subjective, depending on who is conducting them. Many interviewers use an unstructured approach, with the conversation flowing organically. Unstructured interviews may lead to unconscious bias.

To avoid human error and increase interview accuracy, companies must have a dependable interview structure that qualifies candidates based on data.

How to have a structured interview?

1. Prepare a set of questions to assess if the candidate is qualified.

The questions should be designed to assess if an applicant’s skills, experience, and personality fit the open position and the company’s culture.

2. All screening protocols must be the same for every applicant.

Structured interviews leave less room for error, but there is still a possibility for unconscious bias and misunderstanding. All screening protocols must be the same for every applicant, from background checks to post-interview processes. Panel interviews also help mitigate biases and help gauge how a candidate handles group dynamics.

3. Skills assessment exams and activities objectively evaluate the applicant’s abilities.

Written skills tests or job-simulation activities can play a vital role in hiring. It plays a critical role in predicting on-the-job success. It further aids employers in making the right hiring decisions.

Make use of an RPO hiring model with speed-to-interview efficiency

Today’s job market is so congested that the US Staffing Industry is expected to reach $157.4 billion this year. This is a 16% increase from 2020, according to Staffing Industry Analysts

Many businesses have turned to staffing agencies to meet their hiring needs, yet even the most prominent firms still can’t keep up with the demand for top-tier talent. To compensate for this, many companies and even staffing agencies resort to Recruitment Process Outsourcing to efficiently and quickly fill open positions.

Many benefits come with working with an RPO provider

  1. Outsourcing recruitment processes considerably lowers the cost of hiring, and service requirements can be scaled up or down depending on current recruiting needs.
  2. Hiring an RPO provider dramatically reduces the amount of resources and time spent by HR to source candidates.
  3. RPO increases the chance of finding quality hires since most RPO companies already have a large pool of candidates.
  4. RPO provider helps manage large quantities of job orders. Many staffing agencies turn to RPO when the demand for talent is too high for the company to fill on its own. 
  5. RPO streamlines the recruitment process. An RPO provider sources, credentials, interviews, and hires candidates on behalf of the firm. This reduces the cost-to-hire and time-to-hire while improving the quality of hires. 
  6. It also reduces the need for direct advertising and promotion.
When selecting an RPO provider, choosing one that can handle high-volume recruiting with speed and precision is important.

The bottom line: hire faster and smarter

With businesses bouncing back after Covid-19, we can expect the market to be more congested and the competition fiercer than ever before.

It’s a race to the finish, and business executives and staffing agencies that don’t adapt will definitely get left behind.

With the right tools and processes in place and a committed RPO provider, you can outshine the competition and reach the finish line with the most outstanding talent.


teamrecruit,logo,transparent,white

TeamRecruit is a global recruiting firm and RPO services provider with workforce solutions tailored to meet the continuously evolving needs of healthcare and technology companies worldwide. Partnering with global talent acquisition leaders, we deliver the talent you need from anywhere in the world.

We are dedicated to improving talent acquisition in every setting – one hire and one partner at a time. TeamRecruit provides outstanding client care, scalable and flexible service, guaranteed speed and efficiency, and a top-notch talent pool. We help companies uncover deep insights into their long-term talent acquisition goals with data-driven actions to maintain a competitive position in the market.

For more information, visit https://teamrecruit.com/meet-teamrecruit/



Image

About Author


M&A expert, a healthcare advocate, and currently the President and Managing Partner of Staffing Venture Capital. He previously founded, operated, and served as an advisor to several USA- and APAC-based businesses, including Pulse Healthcare Staffing, Parallel Consulting, and Global Response. You can find Eric's thought leadership articles on Staffing Industry Analysts, Score.org, The Inspiring Journal, and Medium.com, among other publications.

Eric Allison

CEO of Staffing Venture Capital & TeamRecruit


Image

About Author


M&A expert, a healthcare advocate, and currently the President and Managing Partner of Staffing Venture Capital. He previously founded, operated, and served as an advisor to several USA- and APAC-based businesses, including Pulse Healthcare Staffing, Parallel Consulting, and Global Response. You can find Eric's thought leadership articles on Staffing Industry Analysts, Score.org, The Inspiring Journal, and Medium.com, among other publications.

Eric Allison

CEO of Staffing Venture Capital & TeamRecruit


Image

About Author


M&A expert, a healthcare advocate, and currently the President and Managing Partner of Staffing Venture Capital. He previously founded, operated, and served as an advisor to several USA- and APAC-based businesses, including Pulse Healthcare Staffing, Parallel Consulting, and Global Response. You can find Eric's thought leadership articles on Staffing Industry Analysts, Score.org, The Inspiring Journal, and Medium.com, among other publications.

Eric Allison

CEO of Staffing Venture Capital & TeamRecruit

About Author


Image
M&A expert, a healthcare advocate, and currently the President and Managing Partner of Staffing Venture Capital. He previously founded, operated, and served as an advisor to several USA- and APAC-based businesses, including Pulse Healthcare Staffing, Parallel Consulting, and Global Response. You can find Eric's thought leadership articles on Staffing Industry Analysts, Score.org, The Inspiring Journal, and Medium.com, among other publications.

Eric Allison

CEO of Staffing Venture Capital & TeamRecruit

In the competitive business landscape that we live in today, to hire exceptional talent is no longer as easy as posting job openings on the newspaper’s classified ads or hiring a head hunter that holds exclusive access to a pool of talent.

Company executives, HR professionals, and recruiters struggle to hire exceptional talent effectively and on time. Each candidate in the market nowadays already works with five to six recruiters and receives a continuous stream of job offers. Besides that, social media platforms such as LinkedIn and even Facebook are avenues for employers to reach out to potential hires directly.

The competition for the best talent is so steep that the average candidate usually already has three offers on the table before accepting one. With a job-flooded market, how do employers and recruiting companies stay ahead of the race to acquire the best talent?

As the demand for talent continues to rise, employers and staffing businesses should be compelled to adapt to the future of work and implement practices that attract suitable candidates in the most efficient amount of time. It’s a candidate-centric market these days, and many employers are shifting hiring strategies to address potential talent needs and concerns.

With many employment opportunities, providing candidates with a positive but razor-sharp hiring process and a pleasant experience with your company is important. Business executives need to have an inviting and engaging recruitment structure or should consider hiring a staffing company that provides excellent candidate experience. Below are some ways you can be a cut above the competition and hire exceptional talent.

Speeding up the hiring process improves the candidate experience

With candidates having a myriad of job offers to choose from, your competitors can beat you to hire exceptional talent if your hiring process takes too much time.

57% of candidates think it typically takes a long wait to hear back from an employer after the interview. In fact, 39% of job seekers say that 7-14 days are already too long, while 23% of candidates are only willing to wait a week. Source

When the wait is too long, 57% of job seekers claim to lose interest in the job. We’re no longer living at a time when it’s acceptable for a company to take up to a month to hire for an open position. With candidates no longer interested in waiting, businesses and staffing agencies must hasten their time-to-hire.

There are various ways to speed up the hiring process and keep candidates engaged.

1. Organized Candidate Database to Hasten the Hiring Time

Having an existing pool of qualified candidates is one of the best ways to hasten the time it takes to hire exceptional talent. Instead of scouring through job boards and past correspondence, an organized database of candidates is key to a quicker hire. Building a dynamic candidate pool and consistently recruiting passive candidates cuts the candidate search time and shortens the hiring process.

2. Invest in high-quality software to Enhance Time-To-Hire

Investing in quality software hastens time-to-hire. A reliable applicant tracking system, data-driven recruiting technology, and software that removes barriers in the hiring process are highly advised for speedy and quality job placements.

3. Create Compelling Job Descriptions to Improve Time-To-Fill Rates

72% of applicants seeking some information on what it’s like to work for the business. A well-written and high-quality job description or job posting attracts more candidates and is likely to receive more qualified applicants. It is a glimpse into the company’s culture.

Job descriptions need to be clear and precise, giving candidates a straightforward idea of what the job entails. It should include all necessary company information, benefits and salary range, and a list of skills required for the position. This will help the job seekers determine whether they are qualified for the role and will save time spent filtering through unqualified candidates that may apply due to job postings lacking sufficient information. Posting job descriptions on multiple hiring platforms and social media channels also speeds up the hiring process and may even lead to referrals.

Improving interview accuracy leads to quality hires

Underqualified applicants may pass their interviews with flying colors and get hired but not perform very well on the job.

There’s always a possibility of great candidates being overlooked when applicant interviews aren’t streamlined or designed to gauge competency accurately. That’s why reviewing and improving the interview structure is crucial to determine effectively if a candidate is a right fit for the job.

Sometimes job interviews can be very subjective, depending on who is conducting them. Many interviewers use an unstructured approach, with the conversation flowing organically. Unstructured interviews may lead to unconscious bias.

To avoid human error and increase interview accuracy, companies must have a dependable interview structure that qualifies candidates based on data.

How to have a structured interview?

1. Prepare a set of questions to assess if the candidate is qualified.

The questions should be designed to assess if an applicant’s skills, experience, and personality fit the open position and the company’s culture.

2. All screening protocols must be the same for every applicant.

Structured interviews leave less room for error, but there is still a possibility for unconscious bias and misunderstanding. All screening protocols must be the same for every applicant, from background checks to post-interview processes. Panel interviews also help mitigate biases and help gauge how a candidate handles group dynamics.

3. Skills assessment exams and activities objectively evaluate the applicant’s abilities.

Written skills tests or job-simulation activities can play a vital role in hiring. It plays a critical role in predicting on-the-job success. It further aids employers in making the right hiring decisions.

Make use of an RPO hiring model with speed-to-interview efficiency

Today’s job market is so congested that the US Staffing Industry is expected to reach $157.4 billion this year. This is a 16% increase from 2020, according to Staffing Industry Analysts

Many businesses have turned to staffing agencies to meet their hiring needs, yet even the most prominent firms still can’t keep up with the demand for top-tier talent. To compensate for this, many companies and even staffing agencies resort to Recruitment Process Outsourcing to efficiently and quickly fill open positions.

Many benefits come with working with an RPO provider

  1. Outsourcing recruitment processes considerably lowers the cost of hiring, and service requirements can be scaled up or down depending on current recruiting needs.
  2. Hiring an RPO provider dramatically reduces the amount of resources and time spent by HR to source candidates.
  3. RPO increases the chance of finding quality hires since most RPO companies already have a large pool of candidates.
  4. RPO provider helps manage large quantities of job orders. Many staffing agencies turn to RPO when the demand for talent is too high for the company to fill on its own. 
  5. RPO streamlines the recruitment process. An RPO provider sources, credentials, interviews, and hires candidates on behalf of the firm. This reduces the cost-to-hire and time-to-hire while improving the quality of hires. 
  6. It also reduces the need for direct advertising and promotion.
When selecting an RPO provider, choosing one that can handle high-volume recruiting with speed and precision is important.

The bottom line: hire faster and smarter

With businesses bouncing back after Covid-19, we can expect the market to be more congested and the competition fiercer than ever before.

It’s a race to the finish, and business executives and staffing agencies that don’t adapt will definitely get left behind.

With the right tools and processes in place and a committed RPO provider, you can outshine the competition and reach the finish line with the most outstanding talent.


teamrecruit,logo,transparent,white

TeamRecruit is a global recruiting firm and RPO services provider with workforce solutions tailored to meet the continuously evolving needs of healthcare and technology companies worldwide. Partnering with global talent acquisition leaders, we deliver the talent you need from anywhere in the world.

We are dedicated to improving talent acquisition in every setting – one hire and one partner at a time. TeamRecruit provides outstanding client care, scalable and flexible service, guaranteed speed and efficiency, and a top-notch talent pool. We help companies uncover deep insights into their long-term talent acquisition goals with data-driven actions to maintain a competitive position in the market.

For more information, visit https://teamrecruit.com/meet-teamrecruit/



Image

About Author


M&A expert, a healthcare advocate, and currently the President and Managing Partner of Staffing Venture Capital. He previously founded, operated, and served as an advisor to several USA- and APAC-based businesses, including Pulse Healthcare Staffing, Parallel Consulting, and Global Response. You can find Eric's thought leadership articles on Staffing Industry Analysts, Score.org, The Inspiring Journal, and Medium.com, among other publications.

Eric Allison

CEO of Staffing Venture Capital & TeamRecruit


Image

About Author


M&A expert, a healthcare advocate, and currently the President and Managing Partner of Staffing Venture Capital. He previously founded, operated, and served as an advisor to several USA- and APAC-based businesses, including Pulse Healthcare Staffing, Parallel Consulting, and Global Response. You can find Eric's thought leadership articles on Staffing Industry Analysts, Score.org, The Inspiring Journal, and Medium.com, among other publications.

Eric Allison

CEO of Staffing Venture Capital & TeamRecruit


Image

About Author


M&A expert, a healthcare advocate, and currently the President and Managing Partner of Staffing Venture Capital. He previously founded, operated, and served as an advisor to several USA- and APAC-based businesses, including Pulse Healthcare Staffing, Parallel Consulting, and Global Response. You can find Eric's thought leadership articles on Staffing Industry Analysts, Score.org, The Inspiring Journal, and Medium.com, among other publications.

Eric Allison

CEO of Staffing Venture Capital & TeamRecruit

About Author


Image
M&A expert, a healthcare advocate, and currently the President and Managing Partner of Staffing Venture Capital. He previously founded, operated, and served as an advisor to several USA- and APAC-based businesses, including Pulse Healthcare Staffing, Parallel Consulting, and Global Response. You can find Eric's thought leadership articles on Staffing Industry Analysts, Score.org, The Inspiring Journal, and Medium.com, among other publications.

Eric Allison

CEO of Staffing Venture Capital & TeamRecruit