How to Cut Your Recruiting Time in Half
Here are two common scenarios. Do you recognize either?
Scenario #1: The HR generalist creates a job description, the hiring manager signs off on it and the job description is posted on a handful of high-traffic job websites. Hundreds of individuals send in resumes, but only a handful appear to be remotely qualified. The recruiter and hiring manager spend days screening and sorting to find that one or two gem of a candidate – if they’re lucky.
Scenario #2: The HR generalist creates a job description and the hiring manager signs off on it before it’s handed over to a recruiter. The recruiter shops the position around to qualified candidates, who dismiss the position out of hand. The recruiter and hiring manager spend days and possibly weeks finding the right candidate and then tries to sell her on the merits of the job.
In both situations, the hiring company assumes all they must do is drop a line in the water to catch the right fish. In the first one, the company catches hundreds of the wrong kind of fish and has to throw them back. In the second, the company isn’t even getting a bite on their line. Both of these approaches to filling job positions are time-wasters, pure and simple.
Don’t get caught in these situations! You can cut your recruiting time in half by doing a market analysis.
How to conduct a quick market analysis
If you’re rolling your eyes at the thought, don’t. Market analyses needn’t be time-consuming. If you want to reduce your recruiting time, take the time upfront to look at similar positions in online job websites such as Monster.com or Indeed.com. As you do, ask yourself these three questions:
What’s the supply and demand ratio? Are there several high-profile companies looking for the same level of talent you want? Conversely, is there an absence of hiring activity but a number of job seekers?
This is supply and demand, pure and simple. For example, if like the second scenario above, you’re not finding qualified candidates, the demand is outpacing the supply. By doing a simple supply and demand analysis in additional markets – either geographical or industry. This can lead you to target your search to cities where the supply of qualified candidates is higher.
What’s the salary range? If you planned to offer $95,000 for a senior-level position, you might think differently after seeing similar positions paying $120,000. Don’t lose the battle for talent because you’re unaware of what the market is paying.
Use these statistics to revisit your numbers and check for possible increases. The other option could be to relax some of the requirements so that you can afford to get a candidate onboard. He or she may not be perfect, but within months can be developed to your requirements.
How can I make my job listing more attractive? Job seekers look at dozens or hundreds of job listings. The details in these job postings are your first point of contact with candidates. They need to get candidates interested and excited in the opportunity. Treat the listing as your storefront window.
Gaining alignment from internal stakeholders
Once you’ve done the online homework, gather your internal stakeholders together to discuss what you’ve learned. Together you may agree to increase or decrease the salary, to entice candidates by adding more responsibilities to the job, et cetera. The point here is that you have considering relevant information to make your job more attractive to your target candidates.
Conducting a low-cost market analysis and gaining internal alignment around your job description might take a few days to complete, but it can save you weeks or even months of recruiting time. Now that’s a good investment!