Blog
January 12, 2022

Leading the Race to Hire Exceptional Talent


Blog
January 12, 2022

Leading the Race to Hire Exceptional Talent


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

In the competitive business landscape that we live in today, finding effective 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. Each candidate in the market nowadays already works with five to six recruiters and receives a continuous stream of job offers. Apart from that, social media platforms such as LinkedIn and even Facebook are avenues for employers to reach out to potential hires directly. Company executives, HR professionals, and recruiters all struggle to find qualified talent effectively and on time. 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 such 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 at hand, it is important to provide candidates with a positive but razor-sharp hiring process and a pleasant experience with your company. Business executives need to have an inviting and engaging recruitment structure in place 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 attract qualified talent.

Speeding up the hiring process improves candidate experience

With candidates having a myriad of job offers to choose from, your competitors can beat you to acquiring great talent if your hiring process takes too much time.  57% of candidates think that it typically takes a long wait to hear back from an employer after the interview. We’re no longer living at a time where it’s acceptable for a company to take up to a month to hire for an open position. 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. When the wait is too long, 57% of job seekers claim to lose interest in the job. With candidates no longer interested in waiting, it’s necessary for businesses and staffing agencies to hasten their time-to-hire.

There are a variety of ways to speed up the hiring process and keep candidates engaged. Having an existing pool of qualified candidates to choose from is one of the best ways to hasten the time it takes to hire 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. Apart from an existing talent pool, investing in quality software considerably 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.

Compelling job descriptions are extremely helpful when it comes to improving time-to-fill rates. A well-written and high-quality job description or job posting not only attracts more candidates, but is likely to receive more qualified applicants as well. It’s important for job descriptions to be clear and precise, giving candidates a straightforward idea of what the job entails. They should include all the details needed for job seekers to determine whether they are qualified for the role. This helps save time spent filtering through unqualified candidates that may apply due to job postings lacking sufficient information. Job descriptions should include all necessary company information, benefits and salary range, and a list of skills required for the position. A glimpse into the company’s culture is also recommended, with 72% of applicants seeking some information on what it’s like to work for the business. Posting these job descriptions on multiple hiring platforms and social media also speeds up the hiring process and may even lead to referrals.

Improving interview accuracy leads to quality hires

It’s very common for hires to pass their interviews with flying colors but end up not performing 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. Underqualified applicants may even get hired if a company’s interview screening protocol isn’t properly developed.  Reviewing and improving the interview structure to effectively determine if a candidate is the right fit for the job is crucial to effective hiring.

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 tend to be more subjective and may even lead to unconscious bias. Because of this, companies must have a dependable interview structure in place that qualifies candidates based on data. This structure helps avoid human error and increases interview accuracy. Structured interviews typically have a set of prepared questions to assess if the candidate is qualified. These questions should be designed to assess if an applicant’s skills, experience, and personality fit the open position and the company’s culture.

Though structured interviews leave less room for error, there is still a possibility for unconscious bias and misunderstanding. To avoid this, all screening protocols must be the same for every applicant, from background checks to any post-interview processes. Panel interviews also help mitigate biases and help gauge how a candidate handles group dynamics. Apart from this, providing written skills tests or job-simulation activities further aid 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 largest firms still can’t keep up with the demand for top-tier talent. To compensate for this, a significant quantity of companies and even staffing agencies resort to Recruitment Process Outsourcing in an effort to efficiently and quickly fill open positions.

Many benefits come with working with an RPO provider. Outsourcing recruitment processes considerably lowers the cost of hiring, and service requirements can be scaled up or down depending on current recruiting needs. Hiring an RPO provider dramatically reduces the amount of resources and time spent by HR to source candidates. It also streamlines the recruitment process, and with most RPO companies already having a large pool of candidates, the chance of finding quality hires rises dramatically.

For staffing and recruiting firms, utilizing an 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. 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. It also reduces the need for direct advertising and promotion. When selecting an RPO provider, it’s important to choose one that can handle high-volume recruiting with speed and precision.

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 to be 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 as well as a committed RPO provider, you can outshine the competition and reach the finish line with the most outstanding talent every single time.


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, finding effective 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. Each candidate in the market nowadays already works with five to six recruiters and receives a continuous stream of job offers. Apart from that, social media platforms such as LinkedIn and even Facebook are avenues for employers to reach out to potential hires directly. Company executives, HR professionals, and recruiters all struggle to find qualified talent effectively and on time. 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 such 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 at hand, it is important to provide candidates with a positive but razor-sharp hiring process and a pleasant experience with your company. Business executives need to have an inviting and engaging recruitment structure in place 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 attract qualified talent.

Speeding up the hiring process improves candidate experience

With candidates having a myriad of job offers to choose from, your competitors can beat you to acquiring great talent if your hiring process takes too much time.  57% of candidates think that it typically takes a long wait to hear back from an employer after the interview. We’re no longer living at a time where it’s acceptable for a company to take up to a month to hire for an open position. 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. When the wait is too long, 57% of job seekers claim to lose interest in the job. With candidates no longer interested in waiting, it’s necessary for businesses and staffing agencies to hasten their time-to-hire.

There are a variety of ways to speed up the hiring process and keep candidates engaged. Having an existing pool of qualified candidates to choose from is one of the best ways to hasten the time it takes to hire 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. Apart from an existing talent pool, investing in quality software considerably 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.

Compelling job descriptions are extremely helpful when it comes to improving time-to-fill rates. A well-written and high-quality job description or job posting not only attracts more candidates, but is likely to receive more qualified applicants as well. It’s important for job descriptions to be clear and precise, giving candidates a straightforward idea of what the job entails. They should include all the details needed for job seekers to determine whether they are qualified for the role. This helps save time spent filtering through unqualified candidates that may apply due to job postings lacking sufficient information. Job descriptions should include all necessary company information, benefits and salary range, and a list of skills required for the position. A glimpse into the company’s culture is also recommended, with 72% of applicants seeking some information on what it’s like to work for the business. Posting these job descriptions on multiple hiring platforms and social media also speeds up the hiring process and may even lead to referrals.

Improving interview accuracy leads to quality hires

It’s very common for hires to pass their interviews with flying colors but end up not performing 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. Underqualified applicants may even get hired if a company’s interview screening protocol isn’t properly developed.  Reviewing and improving the interview structure to effectively determine if a candidate is the right fit for the job is crucial to effective hiring.

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 tend to be more subjective and may even lead to unconscious bias. Because of this, companies must have a dependable interview structure in place that qualifies candidates based on data. This structure helps avoid human error and increases interview accuracy. Structured interviews typically have a set of prepared questions to assess if the candidate is qualified. These questions should be designed to assess if an applicant’s skills, experience, and personality fit the open position and the company’s culture.

Though structured interviews leave less room for error, there is still a possibility for unconscious bias and misunderstanding. To avoid this, all screening protocols must be the same for every applicant, from background checks to any post-interview processes. Panel interviews also help mitigate biases and help gauge how a candidate handles group dynamics. Apart from this, providing written skills tests or job-simulation activities further aid 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 largest firms still can’t keep up with the demand for top-tier talent. To compensate for this, a significant quantity of companies and even staffing agencies resort to Recruitment Process Outsourcing in an effort to efficiently and quickly fill open positions.

Many benefits come with working with an RPO provider. Outsourcing recruitment processes considerably lowers the cost of hiring, and service requirements can be scaled up or down depending on current recruiting needs. Hiring an RPO provider dramatically reduces the amount of resources and time spent by HR to source candidates. It also streamlines the recruitment process, and with most RPO companies already having a large pool of candidates, the chance of finding quality hires rises dramatically.

For staffing and recruiting firms, utilizing an 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. 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. It also reduces the need for direct advertising and promotion. When selecting an RPO provider, it’s important to choose one that can handle high-volume recruiting with speed and precision.

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 to be 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 as well as a committed RPO provider, you can outshine the competition and reach the finish line with the most outstanding talent every single time.


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