Whenever you’re looking to spend money on something, you probably take the time to research the product you want. Whether it’s a new phone, a new house or even just a new pair of running shoes, you want to get it right the first time. You might spend hours comparing online, cross-referencing reviews and asking questions, all to make sure the choice you make is correct. Getting it wrong, no matter what it is, is frustrating, a waste of time and can be costly.
The same goes for hiring staff. Making sure you’re hiring the best person for the job is obviously always the top priority, but now it’s more important than ever that we’re getting it right the first time. With the recession rearing its ugly head and inflation levels high, taking on the wrong person can cost you anywhere between 30-150% of an employee’s salary – not a light consideration for many businesses.
Where does the problem lie?
It makes sense then, that many organisations are now opting for more rigorous interview stages to help sieve through applicants. But in the chase for the best person for the job, are you making sure you’ve grabbed the right choice, or are these lengthy applications actually deterring the ideal candidate?
Long and drawn-out application processes can damage your reputation – 26% of people say they would leave an anonymous negative review if they felt they were being strung along by employers. So, how do make sure you’re getting the right person, without scaring them away with endless interview stages?
Much like dying and paying taxes, recruiting staff is an inevitability
Recruitment is an unavoidable aspect for every business and despite predictions of downsizing, 77% of businesses leaders are expecting their headcount to either stay the same or grow over this next year.
Fundamentally, even in an economic downturn, the simple fact remains – people need jobs and jobs need people. Interestingly, job adverts were up by 26.8% in February of this year compared to January and depending on location and industry, you might be able to afford to be a bit pickier in selecting an applicant.
Hospitality, construction, and retail generally have lower retention rates but, with increasing labour shortages due to the fallout of both Brexit and the COVID-19 pandemic, they’re becoming harder to fill. Streamlining the process to make sure you have a solid talent pipeline will be key to helping eliminate these gaps.
This can be done by using chatbots to schedule interviews to help businesses reduce the administrative burden on recruiters. With cutting costs at the top of this year’s business agenda, technology has been revolutionary in helping automate tasks and saving on time and resources.
Slow and steady doesn’t always win the race
Some sectors, such a tech or finance, find that more specialised roles require a more in-depth recruitment process. This is to determine how appropriate someone might be: what is their experience with coding? Have they worked with a certain software? And beyond the nitty gritty of experience, there are also other factors you might be considering – are they an appropriate cultural fit or not?
With so many factors to consider, it makes sense that you don’t want to rush the application process and instead be thorough in your selection. Despite this logic, by staggering the process through steps that can take weeks if not months, this system can be detrimental rather than useful.
More selection stages don’t always equate to finding the best candidate at the end; they may only attract those willing to go through them all. Rather than ‘breadcrumbing’ candidates, businesses are turning to AI to streamline recruitment. Chatbots and AI can be programmed to ask candidates pre-screening questions to help filter out unqualified candidates and save recruiters’ time. It can also be used to analyse CVs and provide insights on candidate fit for even the most specialised roles.
In this climate, it’s every employer for themselves
Google recently reviewed their past hiring data and found that they could decide on a hire, with 86% confidence, after four interviews. Speed is especially important right now, as not only will competitors be hanging on to their top staff right now, but the assessment of risk will be heightened too. People will be less willing to hang on, waiting for an answer from an employer. Long gaps between hearing back might give them cold feet and you lose out capturing your competitors.
‘One size doesn’t fit all’
Ultimately, it will be up to you how you navigate your hiring process – in some sectors, it’s unavoidable to have multiple interviews and longer considerations, and that’s why having the right technology to help you hire more effectively truly matters.
It can be hard to keep a candidate engaged throughout the process, and chatbots can provide real-time communication with candidates, answering their questions and providing status updates throughout the hiring process. Long wait times between interviews can indicate an indecisive company and might give off the wrong impression of management and culture. Regardless of outcome, making sure your potential employees are informed and involved will leave the right taste in their mouth and keep the overall experience positive.
Original Article: Employer News
Save time and money with our efficient recruitment services, contact our recruitment specialist Gareth Allison or give us a call on 02920 620702.
