5 things to remember when hiring in a booming economy
In the words of Bob Dylan, ‘The times they are a changin’' and luckily for you and I they are changing for the better.
What had proven to be a difficult few years for the Irish economy, with unemployment hitting an all time high of 15% in 2012, things are undoubtedly on the up. With many companies experiencing an increase in growth and hiring managers getting the green light to hire.
Here are five reasons why you should not delay in your hiring process this year
The modern day job seeker is switched on, tech savvy and often spoiled for choice. A great candidate will be offered before they even have the chance of a second interview. Today’s job market is competitive and candidates have multiple offers on the table. Be mindful to make a quick decision or if your decision is delayed - keep a clear line of communication as to why.
According to economic research, the average hiring time has almost doubled in the last five years with some processes taking up to four to five weeks to close off a job requirement. In some industries, due to compliance and legal reasons, this lengthy process cannot be shortened. In the cases that can, smart companies are ensuring they get the best talent on their books by creating a positive candidate experience.
Hiring is a two-way street. Research by the Recruitment and Employment Confederation (REC) has highlighted that while you’re scrutinising an applicant’s qualifications and experience or reflecting on their interview, the same candidate is sizing up your brand, benefits and business like never before. Be smart in selling the benefits of working for your company and why your role will be the best choice for them.
If you're experiencing an increase in growth within your sector, chances are so are your competitors. Particularly in areas such as multilingual and IT skill sets are in short supply. Make sure you know your market and the supply and demand of your required skill set. If you are unsure then contact your specialist recruitment consultant in Morgan McKinley or La Crème.
Make the most of your recruitment consultant. Many employers don’t realise the advantages they have when using an agency. Your recruiter is the middle man between you and your prospective employee. More often than not the relationship between a candidate and their recruiter is open and honest.
You will have a better chance at knowing if your candidate is in numerous processes, has other offers on the table, or if they have an itch about the job or company - which can be nipped in the bud in the early stages. It allows for a more streamlined process and eliminates any lack of control which you may find you have without your recruitment ally.