There is a positive feel to the market at the moment and the ability to make a quick decision is needed!
With the new financial year in full swing many companies are hungry to secure new talent; this increase in active roles has created conditions for the best candidates available to be snapped up quickly. “We have seen a number of companies miss out on their ideal candidate because the ability to offer the candidate took a long time and the candidate was off the market with another offer” says Scott Allen.
“The perception of many hiring managers is that the candidate market is rich with choice. Agencies are really able to add value in this market because of the need to find the best option quickly” says Damien Miller.
Recent LinkedIn talent trends have shown that nearly 85% of the market is passively looking or at least open to a conversation about a new role. “The passive candidate market is really coming into its own” explains Stuart Alpen . “Passive candidates are less likely to be engaged in multiple processes so they tend to be on the market longer than active candidates”
How do you keep hot candidates engaged in the process we here you ask?
Candidates require a level of comfort that their application is still being considered and that they haven’t disappeared into a black hole of other applicants. “Communication is key during the process if there is a candidate you want it needs to be communicated otherwise they may cool off and look elsewhere” says Susan Lindsay.
On many occasions candidates have failed to hear back from companies and agencies about the progress of their application and that lack of feedback means fear the worst and start looking elsewhere. Constant communication and reassurance to candidates on a daily basis is key to keeping them engaged in a long process.
It is always best practise to manage the expectations a candidate may have around timing and the amount of steps within each recruitment process.
“As a recruitment consultant, we need to make a conscious effort to keep all parties informed throughout the process. This will keep the engagement levels of your candidate high and also maintain service levels to your candidate” explains Dean Mumford. “I aim to remind my clients that it is their brand on display in the open market which is a double edged sword. Whilst it is a great opportunity to increase your brand awareness and profile within the market, a poorly run process can have an adverse effect”.