Have you ever lost a good candidate because they accepted another offer? Or because you couldn’t get the paperwork done quickly enough? Or because you couldn’t demonstrate your value proposition well enough? Or because you simply didn’t provide a good enough candidate experience? If you answered no to all of the above you are either blocking out a painful memory or you’re doing a great job.
Anecdotally we’ve all experienced this. However when you add some rigor to the numbers it really begins to look scary. Tekcorus has done just that with its latest IT Workforce Insights report. Let’s have a look at the numbers, and what we can do to improve the odds for you.
Current data shows that 38% of those actively seeking work are only on the market for a month or less, and 33% for 1 – 3 months. That’s about 70% of active job seekers who are in and out of the market in a matter of weeks. Experience tells us that these 7 out of 10 people are the ones you want to hire as compared to the remaining 3, who are typically much less employable. At such narrow windows of availability, you need to be prepared to move quickly.
The decision making process also needs to be tuned for optimum efficiency. Data from the report says that 42% received an offer within a week of interview, 25% within a fortnight, 23% in 3-4 weeks, and 10% waited an extraordinary 5+ weeks to receive an offer. We’re left to speculate on the quality of those who are happy to wait in hope five weeks after their job interview.
The report also tells us that a massive two thirds of job seekers have lost interest in a job because the process took too long. Ouch.
Let’s put some icing on this cake. While you’re going through the recruitment process, there is a world of other recruiters out there who are determined to persuade your dream candidate to consider an alternative job offer. 84% of respondents to Tekcorus’ survey received at least one unsolicited approach in the past 12 months. Of those, 39% secured a new role from that approach. These numbers clearly prove that this is a strategy that really works.
So how will Tekcorus help you make sure you don’t miss out on your dream candidate?
- Have a robust ‘path to hire’ mapped out, that covers everything from a PD that doesn’t have cobwebs on it to providing an engaging candidate experience to identifying who the interviewers will be (and making sure they’re not about to go on a month’s holiday).
- Figure out what your value proposition is. Why would your dream candidate want to work for you? What is awesome about working for the company? Is it the culture? The cool tech they’ll use? The above-market salary and incentive structure? The positive impact on the community of the work they’ll be doing? The professional development opportunities? The perks? We’ll be ready to wow that person from the minute they click ‘apply’.
- Get all the information you need to make a fully informed, delay-free decision.Because we’ll have all of the above information and will have agreed your path to hire, we’ll be your wingman to getting the best person hired in a flash. We’ll ask interview and reference check questions to qualify against the competencies that you need, we’ll do any technical and/or psychometric testing, do all the due diligence, manage them through the offer and resignation process and ward off any counter-offers that inevitably arise. We stay in frequent contact with candidates throughout the selection process to make sure they don’t go cool on your opportunity or consider offers from other recruiters.
We’ve created a free guide to guarantee a best-practice recruitment exercise. Click here to get your copy of So You Think You Need To Hire.