Momentum is the impetus and driving force gained by the development of a process or course of events. So how does this relate to hiring in your niche markets?
It is no secret that most companies are feeling the effects of the talent shortage, this is evident no more so than in specialized, hard-to-fill roles. With competition high, companies are making every effort to impress candidates to ensure they are the potential employer of choice, and this means that the duration when a candidate is considering new opportunities is getting shorter. Flooded with choice, it is vital that not only your company stands out but also that you can move through the process with the correct momentum.
You must have a defined hiring strategy that includes the positions you are trying to fill and the timeframe. You should then be sharing this strategy with your recruitment partner to ensure that your goals are clearly communicated so everyone will be working on the same plan. While job descriptions aren’t always necessary, there must be a clearly defined profile of the desired individual, their experience, cultural fit, and certifications. Time spent correcting misunderstandings around the requirements of the role will be detrimental to your strategy and will impact your hiring momentum.
You would be right to assume that any candidates you are interviewing will also be interviewing elsewhere. Your recruitment partner will be able to advise on how the other interview process is progressing, but you should ensure your stages are moving at a similar pace. Creating a structured, flexible process is the best way to do this.
Your candidates do not need to meet with everyone on the team. Therefore, decide on the key decision-makers and make sure they have time in their schedule to conduct interviews. Making candidates wait a few weeks to meet with one person increases the risk of losing out to a competing company or recruiter. Similarly, if time is of the essence to your candidate, you could combine two interview stages into one. You should take these steps to demonstrate your interest and ensure you will not get left behind.
Some of the greatest delays during hiring occur while waiting for feedback. Setting target response times is a terrific way to stop this from happening. For example, the hiring manager should give feedback to the recruiter within 24 hours of the interview. Not only is this good practice but it will also resonate with candidates, as 69% of candidates would most like to see employer response time improved. In some cases, timely feedback to this extent may not be possible but remaining in contact and setting expectations (and sticking to them) can also be very effective.
Time kills deals. This is something we have all heard of but when talent is in such short supply the clock ticks faster. A timely process is crucial to building momentum, but you must also ensure that the process isn’t rushed. A candidate that is rushed through the process may feel they haven’t had the time to address all considerations in their mind and get a good understanding of role and company, meaning they may not have the confidence in what’s being present, to accept.
Following these steps will increase your success rate against competitors and when this continues to happen, the market will begin to take note, becoming interested in your company and growth. The more positive noise in the market, the more interest, the more interest the more interviews, the more successful interviews, the more the momentum grows!