"Now that the power shifted, candidates who only a short time ago would easily tolerate slow hiring, no feedback and hiring manager arrogance will simply now drop out of the hiring process or gladly accept an offer from another firm." Dr. John Sullivan
Are you aging wine or acquiring talent?
In the new 'War For Talent' old school hiring methods continue to wreak havoc on business. By: Mike Frazier
Old school is my favorite school- and 'there's no school like old school' is one of my favorite quotes.... I still train Peak staff on the way I had to do my job to get here, but remain very aware that the way we've always done it doesn't necessarily jive with today's economic and workforce demands. I teach core, address the here and now and drill for the future.
I've added my own twist to that old school statement: 'There's old school and then there's old fool.' There's a big difference between the two attitudes and the latter is stalling business growth by driving the best candidates away. To remain the captive of antiquated hiring practices that slow acquisition of the best and brightest is just foolish.
Today I overheard yet another high caliber candidate turn down a career offer with a prestigious local manufacturer. I bear witness to this scenario multiple times each week. The candidate accepted an offer from another organization that made acquiring her talents a priority.
Why did this happen? The candidate exercised her options- and my client made themselves the least desirable of those options by refusing to budge off business as usual. No matter how hard we advised them to move on their #1 choice-as she continued to interview- they remained blazingly slow and painfully methodical. I like slow and methodical if you're talking small batch bourbon, but it can create a nightmare for you in today's tight talent marketplace. If you truly need talent. If you need to scale. If you're serious. You hustle. You move. You make a decision. Acquiring talent should be a top priority not a bloated process.
A recent Dice-DFH duration index report provides one statistic that immediately stands out:
This year, businesses will take approximately 22.5 days to fill a job - six days longer than the reported time-to-fill at the end of the recession - the highest its been since 2009.
The all too common scenario:
Your organization needed that (fill in blank here) proficient talent in your building YESTERDAY. All other traditional recruiting methods have failed.
FACT: Your ideal candidate is more than likely gainfully employed. (I've got news for you- they're certainly not dropping off trees like crabapples) and is considered a 'passive candidate' -elusive, yet looking to obtain a better opportunity. Happy where she is-but career and life demands have awoken her spirit to achieve more. And you identified her as a potential only after the 100th resume you perused. You connect via email. The face to face is now a solid GO.
She takes off work on a Monday so you and part of your team can meet with her (sorry, our Director is in upper Georgia tantalizing trout.) First interview went great! So------how about a 2nd interview? Of course, on a Monday (if she can't make it, she's not serious- riiiiiiiiiight?) She makes it and Earl is back (less the trout.) The 2nd interview goes swimmingly well. Pun intended.
'Well..now wait a minute!', you interject after the 2nd interview in the 3rd week after identification of the talent that would securely fill the position you required filled two months ago, 'I think we should have her come to a larger panel interview next week and see if she makes it past Julie. She's a bear.' You ruminate on past hiring mistakes, so slow and steady infiltrate your grey matter. You drop back into your comfort zone and adopt a pace that would make even Slow Poke Rodriguez antsy.
3rd interview? Julie buys her a pack of crackers out of the vending machine and they exchange care bear collection stories. 'Talent!', you say with a wide toothy grin- we will have you an offer in writing by this Friday. Clasping of hands and hearty chuckles fill the corridor. You can relax now-talk trout with Earl and check your Facebook page.
Friday passes. Your competition doesn't. Monday rolls around and you're out one hell of an employee. Why? Because by the time you and your team get around to making the offer ('sorry, Julie wasn't here because she got stuck Friday handling a toaster misfire at home)- your competition, who were intelligently operating under Official Talent Scarcity Rules, moved to rapidly secure the talent made available through your unnecessarily protracted process. They have adapted to new talent acquisition protocols and dared to....GASP!....move to action. Your deceleration allowed them to pass you as if you were standing still. This is common- too many are secure in the processes of yesterday and convinced candidates can be put on hold as long as necessary.
You start over. No closer to the talent you so desperately needed- now almost 3 months later. What will you do? You should realize there is a serious talent shortage at many levels and adapt your hiring and onboarding methods to ensure your talent acquisition goals are met and work diligently to develop a talent pipeline to ensure your organization's workforce demands stay met..
Will you cling to a system that clearly doesn't work? 'It's the way we've always done it!', you may explain. 'It's part of our Standard Operating Procedure. REALITY CHECK: SOP means nothing when candidates have OPTIONS.
As Dr. Sullivan so eloquently sums it up:
After numerous years of operating in an employer-driven market where numerous candidates applied, few dropped out during the hiring process, and almost no one rejected your offers, hiring managers and recruiters are in for a shock. The shock will come because my research indicates that most recruiting leaders and almost all hiring managers are not yet aware that the market has shifted. Not being aware of the shift will mean a lot of frustration among recruiters and recruiting leaders when they realize that their recruiting processes are suddenly ineffective. Beyond the frustration, failing to adapt in time will unfortunately cost their corporations millions of dollars unnecessarily as a result of the large number of lost or weak hires.
Slow and steady will not win this race. Strategy and Action will. We're armed for the new War on Talent.
Six Factors That Caused the Power to Shift to Candidates By Dr. John Sullivan
If you were a recruiter during 1999, you already experienced the last quantum shift in power to the candidate, which occurred during what was known as “The War for Talent.” If you’re curious as to why the power shifts to the candidate, here are the major factors that can cause this shift to occur.
The shift occurs when: