Finding the Right Candidate From a Big Mass of Applicants
Recruitment is the process of finding skilled job candidates, screening them, hiring them, and then onboarding them. It’s a very simple process, but the hiring the right candidate can be extremely difficult. Factors like technological advancements, a competitive labor market, and a large application pool can faze even the most efficient human resources team. It gets even more difficult when there are hundreds or even thousands of applicants for a single position. The process is extremely tedious, time-consuming, and expensive as you need to sift through scores of resumes and make countless screening calls.
While hiring managers and others involved in the search for new staff members recognize recruitment as an integral aspect of human resource (HR) management, it’s important that the process results in finding the perfect fit for the role as this can have a direct effect on a company's bottom line and impact the company’s appeal to qualified candidates.
Why is finding the right candidate is important?Research shows that a bad hire costs the company nearly one-third of first-year income on average, illustrating the high cost of making a poor hiring decision. Budget benefits alone are reason enough to hire only the best candidate, but there are more factors that should also be taken into consideration.
Hiring The Right Candidate Promotes Business SuccessNothing establishes the foundation for the future than employing wisely now. When you hire the best people for the job, you can be sure that they will grow along with your company, contributing to its overall success and eliminating the need to continually hire for any future leadership positions that may arise. Employees who can take pride in their jobs and their role in the organization will not only contribute to its success but will also work to maintain and enhance its stability and growth.
As your business expands, it will become necessary to hire more employees; however, if you make smart hires now, you may be able to cut down on that need. Candidates who are enthusiastic about your company and want to see it succeed are more valuable and should be entitled to promotions as the company expands. Take into account how appointing better employees to even entry-level positions can result in better-staffed management positions in the future. Naturally, this all begins with the hiring process, which includes creating effective job descriptions, selecting the appropriate questions for interviews, checking references, and more.
As your business expands, it will become necessary to hire more employees; however, if you make smart hires now, you may be able to cut down on that need. Candidates who are enthusiastic about your company and want to see it succeed are more valuable and should be entitled to promotions as the company expands. Take into account how appointing better employees to even entry-level positions can result in better-staffed management positions in the future. Naturally, this all begins with the hiring process, which includes creating effective job descriptions, selecting the appropriate questions for interviews, checking references, and more.
Boosts Company culture, and overall moraleThe workflow and connection your teams have may be temporarily disrupted by the addition of a new person. The ideal hire, however, should come in and add to the organic cohesiveness of your teams as soon as they are fully onboarded and have recovered from the adjustment phase. This person can bring new ideas, and fresh insights and find the right balance between understanding the culture and challenging the status quo.
On the other hand, a poor hire can breed discontent and increase stress where it might not even have existed previously. Before bringing someone on full-time, consider whether they have the potential to be a team player.
A company's culture can be improved by hiring the right person, just as it can be hampered by hiring a wrong fit.
On the other hand, a poor hire can breed discontent and increase stress where it might not even have existed previously. Before bringing someone on full-time, consider whether they have the potential to be a team player.
A company's culture can be improved by hiring the right person, just as it can be hampered by hiring a wrong fit.
The Right Hire Reduces Turnover CostsTurnover expenses are among the most frustrating forms of money loss for a business. Nothing beats investing in an employee, only to have them leave for whatever reason. Can you imagine what else you could have bought with that sum of money?
Leigh Branham's (Branham, 2000) book, "Keeping the People Who Keep You in Business," states that losing an employee can cost the company 25-200% of its annual income. The expenses can be from customer service disruption, a decline in employee morale, employee burnout, and staff turnover.
How many chances does a company have to keep losing this money? Small businesses definitely cannot afford this.
Leigh Branham's (Branham, 2000) book, "Keeping the People Who Keep You in Business," states that losing an employee can cost the company 25-200% of its annual income. The expenses can be from customer service disruption, a decline in employee morale, employee burnout, and staff turnover.
How many chances does a company have to keep losing this money? Small businesses definitely cannot afford this.
The Right Hire Saves TimePersonnel management is time-consuming enough, but managing a "bad performance" worker can consume as much as 70% more time compared to a "high performance" employee.
When a new employee is fully integrated into the company, they should increase rather than decrease overall productivity. However, if you hire the wrong person, you may have to spend time and money on retraining, follow-ups, and even disciplinary action. Poor performance hires can interfere with your schedule, increase turnover time, and even make you lose clients. When you hire the right people, you won't have to worry about irrelevant factors affecting your productivity. When you have reliable employees, you can focus on growing your business rather than wondering if they'll do their tasks on time and correctly.
When a new employee is fully integrated into the company, they should increase rather than decrease overall productivity. However, if you hire the wrong person, you may have to spend time and money on retraining, follow-ups, and even disciplinary action. Poor performance hires can interfere with your schedule, increase turnover time, and even make you lose clients. When you hire the right people, you won't have to worry about irrelevant factors affecting your productivity. When you have reliable employees, you can focus on growing your business rather than wondering if they'll do their tasks on time and correctly.
Simple, yet effective strategies to find the right candidate from a big mass of applicantsFinding the right candidate is one of the biggest challenges in recruitment. Despite this, a large number of candidates apply for open roles, making it harder to find the already few qualified candidates.
Recruiters need well-developed recruiting and hiring strategies to find qualified candidates for open positions. It's important to keep in mind that Talent Acquisition is an ongoing process whenever you're developing a strategy like this.
Recruiters need well-developed recruiting and hiring strategies to find qualified candidates for open positions. It's important to keep in mind that Talent Acquisition is an ongoing process whenever you're developing a strategy like this.
OutsourcingOutsourcing means entrusting your hiring entirely or partly to an external party. In general, outsourcing uses the same basic framework for finding new employees. Professional talent scouts are always on the lookout and ready to hire. Therefore, outsourcing releases strain on businesses so that they may concentrate on their primary functions.
While outsourcing is great, it raises concerns about if the recruitment agency will actually find the perfect fit for your company. It can also be expensive-- costing just as much, or even more than you would have spent if you handled the hiring internally.
While outsourcing is great, it raises concerns about if the recruitment agency will actually find the perfect fit for your company. It can also be expensive-- costing just as much, or even more than you would have spent if you handled the hiring internally.
Improve your recruitment process A large applicant pool can reveal weaknesses in your hiring process. It also takes longer to hire when there is no systematic hiring process and you have to start from scratch each time you have to fill a new position.
It's worth taking a break to analyze your process and identify areas for improvement. This will make it easier for both you and the applicants. Even if you already have a process in place, think about the candidate's journey from start to finish. What are the steps they have to take and how long does each stage take?
If you discover that your process is strenuous or poor, you can take a few steps to improve and streamline your hiring practices. Break down the application steps into stage-by-stage details that make it easy for both you and the applicant to walk through. If you do this, you’ll notice a drastic decrease in the amount of time hiring takes, and even an increase in the quality of the applicant.
It's worth taking a break to analyze your process and identify areas for improvement. This will make it easier for both you and the applicants. Even if you already have a process in place, think about the candidate's journey from start to finish. What are the steps they have to take and how long does each stage take?
If you discover that your process is strenuous or poor, you can take a few steps to improve and streamline your hiring practices. Break down the application steps into stage-by-stage details that make it easy for both you and the applicant to walk through. If you do this, you’ll notice a drastic decrease in the amount of time hiring takes, and even an increase in the quality of the applicant.
Use recruitment software for hiring pre-screeningA study shows that while the evaluation process uses cognitive ability tests, personality questionnaires, and talent tests to help you identify the ideal candidate, it also consumes time throughout the recruiting process:
Without sacrificing quality, an effective screening tool can drastically shorten the hiring process. For instance, you don't need to develop and use extensive evaluations to screen candidates for the relevant skills, personality traits, and cultural fit.
- A cognitive abilities test often extends your schedule by 2.6 to 4.4 days.
- A job skills test extends your schedule by 0.6 to 1.5 days.
- An average personality test extends your schedule by 0.9 to 1.3 days.
Without sacrificing quality, an effective screening tool can drastically shorten the hiring process. For instance, you don't need to develop and use extensive evaluations to screen candidates for the relevant skills, personality traits, and cultural fit.
Create a video resume optionResearch states that 93% of employers believe that soft skills are "vital" or "extremely important" when making hiring decisions. You can engage your candidate better by requesting they showcase their personality, communication skills, excitement, and work ethic in their first application, rather than waiting to read through their CV/resume and schedule interviews. One advantage of video resumes is that they allow hiring managers to get to know the candidate on a more personal level before the interview process even begins, giving the right applicant a leg up on the competition.
What's more, applicants can reinforce their intangibles with a traditional CV. A resume may state that they have "great communication skills," but this is difficult to confirm in writing. However, with a video CV, they can demonstrate their fluency in public speaking and other communication skills. With iVCV, you can request video CVs and sort through dozens quickly and easily.
What's more, applicants can reinforce their intangibles with a traditional CV. A resume may state that they have "great communication skills," but this is difficult to confirm in writing. However, with a video CV, they can demonstrate their fluency in public speaking and other communication skills. With iVCV, you can request video CVs and sort through dozens quickly and easily.
ConclusionYour recruitment process is peculiar to your company and can be influenced by several factors. The best way to fill open positions is to employ selection procedures that have been proven to be accurate and predictive. Drop us a message to learn how iVCV provides the best recruitment tools to quickly scan through and sort mass applicants to find the right candidate.