Is your Recruitment Process fit for purpose?

08/08/2022

Is your Recruitment Process fit for purpose?

by Simon Read, Financial Careers Ltd

In 25 years of working in recruitment I cannot remember a time when good candidates, either active or passive, have been so hard to find.

Post pandemic flexible working and a better the devil you know mentality, perhaps as result of the cost of living and economic situation, means it is becoming increasingly difficult to find the ideal candidate.

As a result, it is more important than ever for us to work with our clients to make sure they have an optimised recruitment process to increase the chance of success.

Why does your recruitment process matter?

A poorly defined recruitment process will lead to you missing out on the top talent and your competitors will gain advantage, as well as potentially costing you revenue, having stalled projects etc.

A good recruitment process will help you secure the best candidate, is more cost-effective, and will save you time. Making your recruitment more efficient means you have time available to spend elsewhere or to hire more people.

How do you audit your process?

It should involve all people involved in the process, managers, heads of departments, to the candidates themselves. The more areas you look at, the more complete picture you will get, and data you can gather, will make the decisions more fact-based than opinion based.

Map out your entire process from start to finish. This should cover everything from writing the job description to onboarding a successful hire. Once you have the process mapped out, you can look at starting to identify any bottlenecks or opportunities for improvement. Communication is vital in recruitment, so ensure you are communicating with the candidate at each relevant stage, as well as internally.

The candidate journey

It’s important to consider the stages the candidate goes through, you should really spend time focusing on the full journey that each candidate experiences, to help you to understand what the process looks like from the other side. A poor candidate experience means you may lose them during the process to a competitor, or put them off from joining you by painting a negative picture of your company.

Get feedback

Talk to candidates to find out how they felt about the process. This could be both with unsuccessful candidates and those hired. You want to leave everyone with a positive impression of your company, so it is just as important that you treat your rejections well.

In fact, many times we have found clients who want to a revisit an unsuccessful candidate who might be right for another role or was an acceptable second choice. Also follow up with those who drop out of the process, to understand why and act.

The data doesn’t lie

It is so important to have data to identify trends and monitor performance. Data to collate should include:

  • time to hire
  • how many candidates drop out of your process and at which stage
  • the percentage of candidates that accept offers
  • 1st interview to 2nd ratios
  • 2nd to offer to start.

Analysing the data and combining it with your feedback can help you improve each of these areas and is also useful for you to benchmark recruitment suppliers.

We are here to help

We are here to help you, with our many years of experience we can help you identify areas for improvement and help you save time and money while hiring the best talent. So, if you are planning a new campaign, or looking to improve your process, please get in touch, email simon@financialcareersltd.co.uk

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