As the job market and economy continue to grow we have begun to move into a much more candidate-controlled environment.
With that being said, it has now become easier for a hiring manager to justify making the quick hire and not necessarily waiting for the right hire. It is with this that I would like to recommend taking a step back and staying abreast of recruitment market data that may reflect the true story of your recruitment timeline and explain the recently extended time to fill. Understanding the market and your competition will help makes sense of a longer time to fill rate and lead to trust in the process.
Don’t become impatient. Bringing in the wrong candidate can be very expensive, not only financially, (which can be up to $240,000) but with the impact, this can have on the rest of the team. Hiring the wrong employee in order to fill a seat will start out by wasting your time and resources by putting the wrong candidate through the training process. This will then lead to a negative impact on the rest of the team who are now picking up the slack of the employee. The rest of the team will have increased stress and normally begin to develop a negative attitude towards the company.
With the candidate being in more control than they ever have before, it is important to understand the market and track valuable recruitment metrics during the recruiting process to find the right candidate and not the first candidate.
By Peter Pabon | People Science Sr. Talent Advisor