It goes without saying that recruitment can make or break a company. As a business owner, you should be able to rely on your team to get the job done so that you can focus on growth, value addition, and other aspects. Of course, you can only do that if your recruitment is spot on.
As the management of any big corporation, SME (small and medium enterprise), or startup would tell you, finding the right talent can be hard. Whether you’re scouring the market to replace an experienced associate or looking for a part-timer to fill a seasonal vacancy, hiring good and loyal talent can almost feel like getting the stars to align.
Importance of effective recruitment
According to research conducted by the Society for Human Resource Management (SHRM), replacing a longtime employee costs a company around 6 to 9 months’ salary on average. For instance, if someone was making $60,000 a year at a job they recently left, then a replacement is likely to cost their former employers around $30,000 to $45,000 in recruitment, training, and development costs.
According to research conducted by the Society for Human Resource Management (SHRM), replacing a longtime employee costs a company around 6 to 9 months’ salary on average.
This is where the importance of effective recruitment comes in. When you have a robust system in place, it can help you significantly cut down on employee turnover as well as the cost of hiring a replacement.
Characteristics of an effective recruitment process
It takes time (and quite a bit of trial and error) to develop a recruiting mechanism that is always looking for people with the right skills and motivation to work for you. But, once you’re able to establish such a structure, then your life would become that much easier.
A high-quality recruitment and selection process won’t just find great team members. You’ll save a fortune in replacement and training costs, not to mention lots of valuable time. So, how do you go about building a recruitment system that brings great results every time?
The process needs a fair bit of planning and constant evaluation. The idea is to have a streamlined procedure where access to the necessary tools and resources is available to each staff member. In this way, all of them will be able to play their part in the exercise to perfection.
For example, if an IT Manager is conducting technical interviews for a position, the HR people (Recruiter, HR Manager, Talent Acquisition Executive, etc.) should provide all necessary details about each candidate before the start of the evaluation. This includes arranging hard copies of résumés and all necessary background information among other things.
It’s also the responsibility of the HR department to inform each applicant about the complete interview schedule. That way, they won’t be left wondering and guessing about further steps in the process.
Below are some other key objectives that should guide your recruitment policy formulation.
- Data-based decision making
A comprehensive data analytics system is a must-have in the digitized world of today. It will tell you about the number of applications against a particular vacancy, number of candidates shortlisted for interviews, where the top applicants came from, etc. Analyzing this data every time you hire someone new will eventually lead you to streamline the whole process, thereby making it more efficient and effective.
- Maximized automation
Digital technologies can speed up your recruitment efforts quite significantly. In this regard, tools like Asana and LinkedIn Job Feature are good places to start. Moreover, you can utilize an Applicant Tracking System (ATS) to fully automate candidate sourcing.
Through an ATS, you can automate where you’re posting vacancies, keep an eye on the number of job seekers, and screen résumés to shortlist the most competent candidates. All of this will be done almost instantly. And you can invest the time saved into building a more fruitful relationship with potential hires.
- Employee referrals
An active employee referral system involves existing team members in the recruitment process. When your people know that their input is valuable, they’ll be more eager to spread the word about an open position in their circle.
Such referrals usually lead to employers finding highly qualified candidates. In fact, organizations that rely on their employees’ networks end up building a talent pool that can be as much as 10 times larger.
- Swift application response mechanism
Ensuring that there are no delays in responding to job applications is a vital but often overlooked portion of a recruitment exercise. Job seekers, especially those who believe they have the right credentials for a particular position, usually expect swift callbacks from a potential employer.
Unnecessarily delaying this simple step may lead to them looking elsewhere for their dream job. As a result, you may end up losing highly qualified and experienced candidates.
Role of effective candidate feedback management
After you put out a job ad, the kind of experience that candidates go through during the evaluation process can have an impact in different ways. On the one hand, your chosen applicant(s) will take it into account when considering your offer. Moreover, the rejected candidates need to be given timely feedback so as not to leave them hanging.
Telling someone they aren’t good enough for your organization is certainly not easy. However, providing them feedback (and resultantly closure) is important. Only then will they be able to work on their flaws and prepare better for their next interview. They will also be more likely to say good things about your hiring policy if you provide proper feedback on their application.
Ways to perfect candidate feedback management
Don’t leave the rejects hanging
Get to the point when rejecting someone
Consider candidate recruitment feedback
So, effective feedback management doesn’t just impact the quality of job seekers turning up at your company. It can also affect your reputation within the industry. Here are some no-fail ways to perfect candidate feedback management.
- Don’t leave the rejects hanging
As stated already, every job seeker wants feedback. And this means doing a little bit more than sending out an automated email along the lines of,
“Thank you for your interest. Unfortunately, your profile is not what we’re looking for at this point in time.”
A more personalized approach is recommended. Frankly tell them about the things they need to improve upon. They may be disappointed by the rejection but will thank you in the long run for the honest feedback.
- Get to the point when rejecting someone
You might be tempted to sugarcoat the message when letting someone know they are rejected for a role. Try not to do that. Instead, let them know of their shortcomings in an easy-to-understand way.
Discuss what you liked about their profile and how they can improve on their weak spots. Give them a few minutes to ask questions and sign off by encouraging them to keep looking out for future opportunities at the company. They may not have been the right fit for this particular role, but that doesn’t mean they won’t be for a different one in future.
- DON’T delay
This goes for both people you plan to hire and those you’re going to say “no” to. Once a decision has been made, be quick with the communication. Extend offers to the selected people and provide proper feedback to the rejected ones so that they can work on their weaknesses.
- Consider candidate recruitment feedback
You know that listening to your employees is crucial. The same applies to candidate recruitment feedback. Find out what the applicants think of your recruitment process. This is a better data collection method than having to read reviews about your systems online.
So, give the candidates an opportunity to share their views at (ideally) every step of the evaluation. Do this for the rejected ones too. What were the things they liked? What practices didn’t impress them? How can they be improved?
Asking such questions will not just help you learn, improve, and streamline the recruitment process. It will show all job seekers that you value their views and provide an equal opportunity to everyone to prove themselves.
Reach out to a specialist recruitment agency
Recruitment agencies like Easy2Employ make a living finding the right candidates for businesses operating in various industries. They are well aware of their local demographics and talent pools. Not only will they provide effective recruitment through quality referrals, but they also maintain a relationship with job seekers to help them improve and learn new skills.
You might want to consider getting in touch if you’re struggling to build a robust recruitment mechanism. Easy2Employ can help you with that while also improving your people management ability so that you can have a reputation as a good employer. Reach out today!