This continuation of the two-part article covers specific actions that corporate recruiters can implement to speed up their hiring during each individual step of the recruiting process. Part 1 covered the cost of slow hiring and some advanced steps on how to improve the speed of the overall hiring process.
This two-part in-depth article covers the how-to steps that corporate recruiters can use to speed up their hiring process. Speed of hire is an important topic for recruiting leaders because without it you won’t be able to successfully land high-quality candidates who are in and out of the job market quickly. This article is a follow up to last week’s companion article “The Top 12 Reasons Why Slow Hiring Severely Damages Recruiting And Business Results.”
How Much Money Slow Hiring Costs a Firm
Of course costs vary depending on the organization and the job, but as a rule of thumb, I estimate that the “on job performance” of those you hire into competitive jobs decreases by as much as 1 percent for every extra day that you delay a hiring decision. So if you add just 10 days to your normal average time to fill, you can expect the “on the job performance” of your new hire to drop by 10 percent. For a firm like Amazon, a 10 percent drop in its average revenue per employee of $750,000 would mean a loss of $75,000 for every new hire. Obviously this amount is many times higher than the standard cost per hire and it is a significant dollar loss that is almost always unreported.
Steps in the Hiring Process That Are the Biggest Bottlenecks to Hiring Speed keep reading…
We all agree that nothing ruins a workplace culture like a jerk co-worker or a rude manager. But how do you uncover those characteristics in your pre-employment interviews? Even Vladimir Putin can seem charming if you only ask questions like What are your career goals? What motivates you? and What are you looking for in a job? before making an offer.
Your hiring process needs to occasionally challenge the candidate to see how they react to pressure. The best way to do this is to share criticisms with the candidate so you can experience firsthand — through your own eyes and your own ears — how they respond.
Before I expand upon that concept, I want to make sure my advice is balanced. Yes, the candidate should be challenged, but you must also achieve these five emotional outcomes during your interview process: keep reading…
A candidate from a well-known benchmark firm dropped out of our search for a General Manager position because the hiring manager took a week to respond to his interest. He said…
It’s not like I need their job. If it takes them a week to respond to a resume like mine for a job of this importance, they’re not the kind of company I want to work for. I move fast, and I can already see that my style wouldn’t fit their culture. –Wind River Associates
As a corporate recruiting leader, know that in a highly competitive college marketplace, there may be nothing that damages corporate recruiting results more than slow hiring.
Many firms now go the first step and track some variation of the “time-to-fill” metric. But despite that metric, not only are firms still almost universally guilty of painfully slow hiring, but to compound the problem, few recruiting leaders truly understand the many negative business and recruiting impacts that result from slow hiring. I estimate that the impact at most corporations exceeds tens of millions of dollars each year. And the dollar loss from this factor may be as much as 10 times higher than losses resulting from low recruiting efficiency related to the more popular “cost-per-hire” metric.
It’s not enough to be conscious and aware of slow hiring. Identify and then quantify in dollars each of the negative impacts of slow hiring, so that everyone from the CEO on down will support the streamlining of the process. After several decades of work on “speed hiring,” I have put together an extensive list of the negative consequences associated with taking too long to hire. The top 12 most damaging factors are listed below.
The Top 12 Reasons Why “Slow Hiring” Damages Recruiting and Your Business Results keep reading…
Companies with call centers or large customer service centers need to hire high volumes of employees on a continual, routine basis. This type of hiring presents unique challenges and requires dedicated, results-focused recruiters to keep a steady pipeline of candidates flowing through the system. If you are responsible for class hiring, here is a primer and some tips on how to succeed. keep reading…
This post is sponsored by SilkRoad.
Hiring the right talent is just the beginning. The next challenge is transitioning new hires so they are ready to become great employees. Onboarding can lay the foundation of a strong workforce and, according to the Human Resources Corporate Leadership Council, it can also improve employee performance by 20 percent and reduce probability of departure by 87 percent. keep reading…
I don’t work at Google. I never have. I know multiple managers and former directors in HR & recruiting who’ve been there and shared their experiences. I, like many, have read countless articles on why Google is so great place to work. In terms of products, I’m a fan but not devoted to any cult of Google. Some of its past hiring practices were arrogant, inefficient, and any experienced talent acquisition leader could tell you were a waste of time.
There are articles in the LA Times and elsewhere whose main premises are that Google is ignoring how smart applicants really are by not using intelligence testing any longer. “GPAs are worthless as a criteria for hiring, and test scores are worthless … We found that they don’t predict anything,” noted Lazlo Bock, head of talent at Google. They feel it’d be mistake to follow Google’s lead. I disagree.
I think they’re missing the big point. Companies should hire like Google but adapt to their needs. keep reading…
Nobody wants a selfish lover or a selfish recruiter, so take a lesson from Barry White and warm up your talent prospect before popping the question.
The business of recruiting is a unique one, but in many ways there are parallels to the dating game. Finding an appealing talent prospect is like spotting someone across a crowded bar: you have to be aware that any candidate you’re talking to is also being looked at/assessed by a at least a half-dozen other thirsty companies.
With what is probably a bombardment of attention, the prospect most certainly has his/her shields up — and rightly so. To establish that relationship you have to get around those shields and bring something to the table that makes you stand out from the crowd.
And that begs the question: what if Barry White were a recruiter? How would he approach talent?
Immediate Gratification vs. Performance keep reading…
Less crippled than economists predicted by the nasty weather that gripped much of the nation last month, the U.S.Department of Labor reported this morning the economy improved hiring in February, adding 175,000 new jobs. That was 25,000 more jobs than the average of analyst estimates.
In this touch-and-go recovery, gains higher than expected are good news. But the numbers over the last three months are anemic compared to last year’s average 190,000 new monthly jobs. February 2013, unencumbered by bitter weather, saw 280,000 new jobs. keep reading…
An employer trying to hire the perfect candidate is in many ways a good thing. It’s a significant improvement from the days of hiring anyone who could fog a mirror. But has the pendulum gone too far?
The answer is a resounding yes. A perfect candidate does not exist. He never has, he never will. The best any manager could hope for is the candidate who has many of the essential skills and experiences, lots of potential, a willingness to learn and develop continuously, and is engaged with and by the culture. That’s a tall order — a very tall order and one that many managers take to extremes.
The result of falling victim to The Perfect Fit Syndrome is that sometimes these positions are never filled. I’ll admit that might be the extreme case but it’s also not so uncommon. Many managers place the sole blame on the poor quality of job applicants.
But that’s a cop-out and one excuse that senior management has bought hook, line, and sinker. keep reading…
Sourcing has always been the hardest part of recruiting experienced, employed professionals (my experience has been with software developers). It’s much easier for me after I get into a serious conversation with candidates. I can establish rapport and find out what it takes to make them happy. But getting them to talk to me in the first place? Now that’s tough. keep reading…
On Wednesday, Facebook announced its nearly $19 billion purchase of the instant-messaging firm WhatsApp. But the real news about the acquisition relates to the colossal recruiting failure that occurred a handful of years earlier (as reported by Forbes) when both WhatsApp founders Jan Koum and Brian Acton applied for a job at Facebook and were rejected (Acton was also rejected by Twitter).
As Brian Acton put it ,“We’re part of the Facebook reject club.” You could easily argue that this colossal “hiring miss” cost Facebook billions, and as a result, this hiring error has to rank near the top “not hired” errors, only rivaled by HP’s rejection of Steve Jobs for not having a college degree. If you are a corporate talent manager, this and similar errors should now become a critical part of your business case for fully funding an effective recruiting team and flawless hiring process.
The Top Eight “Billion-dollar Hiring Miss Lessons” for Talent Leaders keep reading…
I receive frequent requests for pre-employment tests that provide a job fit score. These scores provide a pseudo “Dummies Guide to Hiring” — a lazy manager’s approach to screening job applicants.
Make no mistake about it: assessment systems that include a score make it easy to screen out high-risk candidates. They are a time-saver and reduce the assessment learning curve for recruiters and hiring managers.
But the inclusion of a job fit score or “hire/don’t hire” rating is susceptible to abuse and misuse. It’s not the inclusion of the score that is inherently bad. The problem arises when Mike the Manager hires or rejects a candidate based exclusively on the score alone. keep reading…
OK, so you’re a hiring manager, and you’ve just arrived at the office, grabbed your coffee, and opened up your email inbox. There — in boldfaced lettering — the subject line of my email screams
JOB PROPOSAL MEMO.
And you’re thinking … great. Another spam from some job seeker. But you open it anyway.
And that’s how my story at Beyond.com began. keep reading…
The Age of the Customer is the title and the focus of Jim Blasingame’s new book. I like the tagline even more — Prepare For The Moment of Relevance.
This got me thinking about manpower — human capital — whether are our employees capable of preparing for that moment of delivering service in an epic way? Moreover, how does the organization consider this in the hiring and recruiting process — hiring employees who are “customer-ready” and prepared to deliver exceptional service in that moment of relevance.” keep reading…
“Hire, reward, and tolerate only fully formed adults,” writes Patty McCord in the Harvard Business Review. “The best thing you can do for employees — a perk better than foosball or free sushi — is hire only “A” players to work alongside them. Excellent colleagues trump everything else.”
If you hire the right people, so much of what companies do in the name of human resources becomes, if not superfluous, at least of much less importance. keep reading…
A friend of my neighbor manages a call center. He has had, as he puts it, the worst luck in finding people who both do a good job and stay. I asked how he sources his talent, and he showed me his boilerplate posting:
Wanted – experienced call center employees.
There was some other generic ad text, but that was about it. You can believe that no two people have the same definition of what this means. His lack of clarity about the behaviors, skills, and experience he needs in his roles encourages his swinging employment door.
As a workplace consultant and executive coach, I see the reason recruiting is so difficult is that most organizations don’t have and religiously use a process to clearly, fully, and accurately define the role’s qualifications; this includes behaviors in addition to skills and experience. keep reading…
We’re heading into another new year, a year full of promise and opportunity and predictions from the experts about which techniques and technologies will remain or become vital weapons in the recruitment arsenal.
- Mobile Accessibility
- QR Codes
- SMS Texts
- Applicant Tracking System Upgrades
- Search Engine Optimization and Search Engine Marketing
- Local Market SEO
- Talent Community/CRM/Relationship Marketing
- Source Identification/Tracking
- Social Media
- Employment Branding
- Employee Referral
- Talent Segmentation/Targeted Marketing
- Employment/Internal Communications
- Alumni Outreach
- Job Description Upgrades
- Branding people with RIFD codes and tracking their every movement and behavior … keep reading…
The report, released this morning by the U.S. Bureau of Labor Statistics, contradicts other, positive signs of economic strength, including strong home sales and a rise in the manufacturing index over the last several months. The National Employment Report from ADP and Moody’s Analytics, out Wednesday, estimated the private sector in December added 238,000 non-farm jobs.
The job growth number was the worst since May 2011. keep reading…
Influenced by the budget uncertainty in Washington, HR professionals and hiring managers in CareerBuilder’s annual survey of hiring intentions said they expected to increase headcount in 2014, but the numbers and the rate of hire would depend on Congressional action about the debt ceiling.
The budget bill President Obama signed last week resolved only part of the national fiscal uncertainty. The debt ceiling, which is due to come in February, is a different matter. Both parties has so far signaled their intention not to compromise on raising the federal borrowing limit. keep reading…