The Evening Standard reported recently “a war for talent” is underway as firms spanning multiple sectors launch hiring sprees after a year of pain. In a competitive recruitment market, job offers are often a frustrating stage in the hiring experience. After investing time and money into recruitment, no one wants to deal with the possibility of rejection in the latter stages. If you are losing out and struggling to attract talent, it’s time to consider the following reasons your applicants are going elsewhere.
1. A lengthy hiring process
Studies have shown that nearly half of candidates who reject a job offer do so because they were unimpressed with the company’s hiring practice. The average recruitment process in the UK takes 28 days. This is a world apart from candidate expectation. A potential employee wants to be interviewed and hired in a matter of days. Working with a specialist recruitment agency to narrow down one’s choices and setting specific time-frames to speed things up can help.
2. The salary isn’t enough
An obvious one but choosing a realistic and competitive figure will help attract the best people for your company. Speak to your recruitment agency to get an overview of the average remuneration for your role. Failing that, most major job boards give an estimated salary range for a position within a certain location. If you cannot go above and beyond competitors, consider the wider remuneration package. Look at flexible and/or remote working, a sabbatical after a certain number of years of service, individual training budgets, birthdays off, paid for team lunches, Friday afternoons off or private healthcare that can be extended to include family members.
3. Lack of progression
The most attractive factor of any new role is the opportunity for growth. Employers can make offers more appealing by going beyond the benefits of the role now, to discover what it can bring in the future. Ask interview questions that reveal the career path your candidate is looking for. Discuss how you can support potential employees personal and professional goals. Consider supporting employees through further academic qualifications (include terms where the employee will have to pay back the money spent should they then leave). Share the type of projects current employees have been involved in or the secondments that have been created to develop existing talent. This will demonstrate to candidates how seriously your company takes growth and development.
4. Company Culture
Organisations are frequently judged on how they engage their employees and the things they do to strengthen company culture. No matter which sector you are in, your employees will want to feel comfortable and supported in their role. Creating the right company culture means helping your staff to work well together, avoiding conflict, and offering opportunities for greater work/life balance. Assess your current company culture and ask team members what they would like you to work on. Highlight those fixes in job specs and when speaking to potential hires.
5. The role hasn’t been sold correctly
Top candidates see beyond the title of a job and salary. Instead, they look at the bigger picture and assess the overall opportunity. Make sure that you highlight the most valuable parts of the role, including the company culture, the standard of leadership they will be working with, the projects/accounts they’ will be working on, your company’s plan for the future and what this means for employees and their career opportunities.
Take time to define your company’s USPs. Remember, an interview is a two-way selling process. It is no longer just the candidate who has to sell themselves.