Spoiler Alert: Your interview process may be what’s sabotaging your quality of hire and talent recruiting. What a hiring manager may see as a thoughtful and thorough hiring approach, a candidate may view a long, drawn-out process as poor communication, and may even give a bad impression of how things are done at the company. Hiring standards are extremely important, and when a perfect candidate is found, employers have got to be fast or else they’ll risk missing out on a great employee.
Paradox of Choice
Essentially, it pays to be thorough when you’re evaluating a candidate, but be aware that the longer you deliberate, the higher the chance you might lose the candidate to a competitor…. Especially with candidates constantly being approached by recruiters. Candidates have more options in the commercial real estate industry and the very best talent is in high demand, likely to be receiving multiple offers.
It’s very possible while you’re thinking about a candidate and the next steps for them…. your competition is acting! While you are waiting a couple weeks to schedule that last person to meet with your candidate… your competition is flying them to meet key players (or virtually meeting with key players within the company). Recruiting faster doesn’t mean you have to abandon your hiring standards, but it might mean you have to re-evaluate your process in order to make it more efficient.
Higher Quality of Hires
Supported with a great employer brand, moving fast ultimately means that you won’t miss out on top talent. Being decisive with your hiring process helps you differentiate yourself from competitors, essentially bettering your candidate experience. Responding rapidly to talent and making fast hiring decisions is something candidates will notice and indicate to them the culture of the company. A common problem many hiring managers face is that by the time a decision is made and a candidate is fully approved, the candidate is no longer interested or available due to increase in demand.
Higher Acceptance Rates
Reducing the time from interview to offer gives candidates less time to reconsider whether they want to join your company. It also gives them less time to interview elsewhere or to listen to counteroffers from their current employer. Don’t waste unnecessary time debating with HR over salary or spending months getting more and more resumes merely for comparison.
Ultimately, there are clear benefits to speeding up your recruitment, and creating a faster and more efficient hiring process might be the secret to hiring the best candidates. Recruiting and hiring faster doesn’t mean you have to abandon your hiring standards, but it does mean you should move with a sense of urgency and not dilly dally!
Diane Blake, Managing Director, About Diane
The RETS Team brings a deep, strategic understanding of the real estate industry to your recruitment needs. Click here for more insights & tips.
