Our job market trend research has tracked hiring conditions that favor the job seeker since 2013. We are anticipating 2017 to continue this momentum. Over those study years, job candidates personified the trend, describing themselves as confident with their employment prospects and optimistic of their success under current job market conditions.
Despite this unrelenting demand for talent, some employers are operating with no particular sense of urgency when it comes to moving on candidates well-suited both functionally and culturally. In today’s hiring market, this approach is a high-risk gamble.
Candidates Have the Upper Hand
Hiring managers who see themselves in the driver’s seat are out of step with today’s reality. Talent holds the cards, particularly passive candidates in high-demand roles. While employers draw out the recruiting process, their most desirable first and second choice candidates either lose interest or accept more timely offers. Suitors who move the fastest with their best proposal are more likely to win the candidate’s heart. If not, companies find themselves in a bidding war over a candidate entertaining multiple offers simultaneously. Early birds rarely get sucked into such skirmishes.
Slow & Steady Doesn’t Always Win the Race
Companies with a protracted hiring approach usually don’t realize the message they may be signaling to candidates. Is this dawdling a sign of how things work at the company? Does it contradict how important the role was originally positioned? These are just a few negative thoughts candidates may begin to consider, potentially turning them off on the opportunity altogether.
Hiring standards are important and shouldn’t be sacrificed for hiring speed. But when a candidate who’s nearly perfect is found, swift action is best. The faster the role is filled the faster strategic initiatives move forward, the workload is better distributed, and overall team morale improves.
To learn more about optimizing your hiring process download the full position paper here.