Now is the time for employers to be adding talent to their 2018 teams. Hiring the right employees is essential in keeping current with the latest trends and staying ahead of the competition. Finding the right candidates can take months, and vacant positions mean loss of revenue, as well as increased responsibilities to other staff, so time is of the essence.
- Retention Is Stronger
In this market, employers are highly focused on retaining their talent. There is a small pool of qualified, passive candidates willing to consider new opportunities. For example, the higher the level of skill and experience required for a position, such as in engineering or IT, the smaller the number of candidates who can perform the work. Also, because employees are more engaged in their tasks, they remain loyal to the company longer. In addition, many seasoned employees are now exiting the mainstream workforce and becoming consultants or retiring, further shrinking the pipeline of active and passive candidates.
- Hiring Time Is Lengthening
It takes much longer to hire employees now than it did in previous years. in many cases it’s 2 to 3 months. For example, rounds of interviews may involve multiple staff members meeting with candidates two or three times during a two or three-week period. After meeting everyone, the candidate might not be a proper fit with company culture. Today, because many companies require additional assessments as well as pre-hire testing, candidates may lose interest in moving forward with the hiring process. Another thing to consider, the competition is fierce, and the candidate you want to hire may be receiving multiple offers from other employers. Even after extending an offer there are scenarios that could lead to lengthening the hiring process such as: candidates could expect a higher salary than the budget allows and the negotiation process begins, or they may be unable to start when needed.
- Begin the Interviewing Process Now
Fall is a perfect time to begin interviewing job candidates. Whether a business is expanding or replacing employees who are retiring or moving on, having the proper amount of time to recruit and train new employees to take over those positions is critical. Also, because staff members often take vacation during December, this will slow down the hiring process. In addition, because candidates are more open to new opportunities in Fall, there is a larger pipeline to draw from. Lastly, college students graduating in December want to secure careers early and seamlessly transition into the workforce.
- Partner with Next Level Professional