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Where did all the candidates go?
Online job availability is on the rise, rapidly. As a result, candidates have multiple job opportunities and managers who delay, even by days, in selecting a candidate are more often than not, left holding the bag. . . and very disappointed. Gone are the days when you could "take your time" and wait for more candidates to see if there was "someone even better out there."
Date: June 22, 2006
Category: Everything Else
WHERE DID ALL THE CANDIDATES GO?
Problem: Losing good candidates.
Solution: Streamlining your hiring process to make decisions in days, not weeks.
Online job availability is on the rise, rapidly. As a result, candidates have multiple job opportunities and managers who delay, even by days, in selecting a candidate are more often than not, left holding the bag. . . and very disappointed. Gone are the days when you could "take your time" and wait for more candidates to see if there was "someone even better out there."
That's the quick extrapolation from the results of the recent Monster Local Employment Index, where online job recruitment activity jumped significantly in more than half of the major US metro areas tracked.
"In response to the flourishing economy, many companies are expanding their business and are looking to hire talented workers to fill new positions. Improved job market conditions have also been driving worker turnover, as employees take advantage of new opportunities and a tighter job market for skilled workers. The hiring outlook continues to bode well for job seekers and for this spring's new crop of college graduates," said Steve Pogorzelski, Group President, International at Monster Worldwide.
What bodes well for job seekers can be a challenge for employers.
“With a smaller pool of applicants finding the right employee is a greater, and potentially more expensive, challenge,” explains Stephanie Schroeder, NetEffects Vice President.
"Where managers could take weeks before making a decision, looking around for even more options, hiring decisions are now down to days because qualified candidates have more choices.
Case in point: NetEffects recently had a candidate interview and during the interview, the client stated they would get back to NetEffects with an offer. When the candidate returned to his car, he had a voice mail with another offer from a previous interview. Fortunately, the consultant accepted the position with NetEffects.
NetEffects' experience is that over 50% of candidates have more than one offer put on the table.
"Many of our clients are losing candidates simply because it took them so long to make a final decision," she said.
Stephanie added an important reminder: "To help you feel confident in making a quick decision, NetEffects implemented our unique Net3 Selection Process in order to present you with the best qualified candidates from day one.
"If you find a candidate that meets your needs, regardless of whether or not it's from us, hire them, now," she urges.