Author: Victoria Cohen
Losing Out on Top Talent During
the Hiring Process? Here's Why..
In today’s competitive job market, companies are finding it increasingly difficult to win over candidates and keep them engaged throughout the hiring process.
We’ve got some insights into why this is happening and how you can turn things around. So sit back, grab a cup of coffee, and let’s dive into why companies are losing candidates – and more importantly, how you can win them back!
1. Taking Too Long to Make a Decision
The hiring process can be lengthy, and by the time a company finally makes an offer, the candidate may have already accepted another position. A lengthy hiring process can also cause candidates to withdraw their application or even ghost the hiring manager altogether. The key to winning back these candidates is to keep them updated throughout the process and let them know when they can expect to hear back from you.
In addition, companies should focus on a quick and efficient hiring process. The length required for your process will vary depending on what type of role you are filling, but if you’ve left multiple candidates hanging for 30 days or longer, chances are your hiring process is too long. To speed up the process:
- Quickly and efficiently schedule interviews
- Be decisive
- Don’t over-hesitate on extending offers
By moving faster, companies can show candidates that they’re serious about hiring them and increase their chances of landing the top talent.
2. Poor Communication Throughout the Process
Candidates who feel like they are in the dark during the hiring process are more likely to go with a company that keeps them updated throughout the process. Unfortunately, many companies are still not doing a good enough job of communicating with their candidates.
There are a few key things that companies should be doing to improve communication with candidates:
- Set clear expectations from the start. Candidates should know exactly what the process is and how long it will take.
- Keep candidates updated on the status of their application. If there are any delays or changes, let them know as soon as possible so they can adjust their expectations accordingly.
- Be responsive to candidate questions and concerns. If a candidate reaches out with a question, make sure to get back to them in a timely manner.
- Follow up after the process is complete, whether the candidate was successful or not. It’s always courteous to thank candidates for their time and effort and provide feedback if they were not successful this time around.
3. Not Offering Competitive Salaries or Benefits
In order to attract and retain top talent, companies need to offer competitive salaries and benefits. Unfortunately, many companies are not doing this. As a result, they are losing out on great candidates to their competitors.
There are a few key reasons why companies may not be offering competitive salaries or benefits. First, they may not be aware of the market rates for these positions. Second, they may be trying to save money by paying less than what the market demands.
Consider sweetening the deal. Offer more money or additional perks and benefits. Let them know that you’re willing to negotiate to make the job offer more attractive.
4. Waiting For the “Perfect Candidate”
Many companies today are losing out on top talent in the hiring process by fixating on the idea of finding the perfect candidate. Often, these companies fall into the trap of waiting for that one individual who ticks off every box on their list, even if they have already interviewed multiple candidates who are well-suited for the position.
This approach can be detrimental as it overlooks the potential of highly capable individuals who possess the right work ethic, passion, and energy for the role and the company. Rather than waiting for someone who appears flawless on paper, companies should shift their focus towards identifying individuals with the right drive and enthusiasm for the role, as these qualities often contribute significantly to an employee’s overall performance and potential for growth.