If you know anything about real estate, you know that the market is usually described as either a buyer’s or a seller’s market. The same is true of the job market – and right now, it’s a candidate-driven market. So, what exactly does this mean for your company? In this day in age, candidates are afraid to make the wrong choice for their next career move since they have so many options in the workplace. Below, we’ve listed four key ways to make your interview process more efficient so candidates can be confident in their decision to work for you.
Know what you’re hiring for.
First and foremost, you need to be clear about the position for which you’re trying to hire. Brainstorm and make sure all expectations and job duties are agreed upon when posting an open role. This not only helps applicants know what to expect from the position, but also keeps your hiring team on track when screening resumes. Make sure your job description reflects all requirements and expectations so there will be no surprises for the candidate when it comes to the interview. Having a clear job description will save you time by narrowing down your candidate pool to only the most qualified candidates.
Maximize use of a personality assessment.
When you hire employees who fit within your culture, you’re ensuring a better chance of success for everyone. Decide on a personality test, have your team participate (that means you, too!), and ask the candidate to do the same. We never encourage anyone to use an assessment as a knock-out tool, but it does help you understand who the candidate is and how best to work together. When you find someone whose skills pass the test and their personality complements the rest of the team’s, you’ve got yourself a winner. The onboarding process will be simpler, the team will mesh quicker, and the new hire will be more likely to stay for the long haul if you maximize what you learn about each other.
Keep the process short.
Out of respect for the candidates and your team members, keep the process short and sweet. Like in real estate, offers are made all the time and in this market, candidates are receiving offers after one interview. If you are asking for multiple interviews spread out over a month, your candidate may take the other offer. For non-executive roles, we suggest keeping the process to two weeks – three if you must. This should give ample time for rearranging schedules to conduct screening calls and a few in-person interviews. For executive-level positions, you should allow up to 30 days, keeping in mind that scheduling is a bit more difficult with executives who are still employed. Efficiency is key when it comes to hiring, so make sure your team is prepared to take on the challenge.
Stay in contact.
No matter the length of the hiring process, communication is of the utmost importance. Keep in touch with your candidates to build a foundation and keep the door open for questions. Communication – whether it’s good news, bad news, or just an update on the timeline – keeps you at the top of the list for potential hires. Build rapport and show your candidates why they should choose your company, especially when they have an abundance of opportunities at their fingertips.
Using these tips will help create a more efficient hiring process and, in turn, help you and your company enjoy the added benefits of a better candidate experience. Remember, the job market can change just as quickly as the real estate market, so it’s important to keep your finger on the pulse of what the market is doing. This ensures that not only are you in a position to find the best candidate for the job, but your leadership in the hiring process will set a tone for all others in your space and set you apart from the crowd.