According to a recent survey completed by Monster, 80% of organisations say they are having difficulty filling openings due to an ongoing shortage of skills.
Interesting statistic, I hear you say, but what am I supposed to do with that information?
Well, the key insight from this statistic, in our opinion, is that when you see a good candidate, you need to move FAST as 8 out of 10 of your competitors are likely to be interested in hiring this person too!
This is where planning comes in; so many companies and hiring managers completely underestimate the time and planning they need to commit for a recruitment process to run effectively. You have a day job and you are busy, right? We get it, but if you want to get your role filled and you don’t want to lose out on talent to your competitors, it's essential that you plan your recruitment process before you start it and your resource plan to ensure you can be agile and dip out of your day job to commit to the hiring process.
On average, a hiring manager's total time spent away from their day job when involved in an active recruitment process can be as much as a week! You can’t just "wing it"; you need a plan, and it is that plan that will give you the edge over your competitors.
Let’s imagine for a minute that you’re a job seeker. You’ve been approached about an opportunity with two competing start-up MedTech companies, both in the diabetes diagnostics space, an area that interests you, and both opportunities are on par in terms of overall opportunity, remuneration, culture, etc. So, you decide to put an application forward for both...
Company one: a week goes by since you applied, and then you get a response. They like the look of your profile and want to arrange a first-stage interview. Diaries are full; are you available two weeks from now? Sure. See you then. Two weeks roll around, the first stage interview is done, and you’re eagerly awaiting feedback. Another week goes by and it turns out, although the feedback is positive, the hiring manager is on holiday next week and when they return they are in back-to-back meetings for a further week, so you’re going to need to wait a few more weeks. Sorry! Two weeks on, your second stage interview is done. A week later, you find out that it went well, but now the hiring manager must consult with HR and their line manager to see if they want to meet you before a decision is made. We’ll be in touch ASAP.
Company two: the day after applying, you get a response. They like the look of your profile. When are you free to come in? We can work around you. Later that week, you complete a first-stage interview, and within 24 hours, they are back on the phone with feedback and next steps. When are you available for another interview to complete our process? We can do it any afternoon this week or any morning next week. Two days later, you’ve had your final interview, and later that day, a verbal offer follows.
If these processes were running side by side, would you still be in process one? Let’s be honest, you might not have even made it to the first stage interview with company one, certainly not the second stage anyway!
The key takeaway here is: stop winging it, start planning it!