August 21, 2022
An unsuitable hire due to ineffective recruitment and selection processes can affect the morale and productivity of good employees and the larger organization. According to recent research, it has been revealed that at least a staggering 23% of new hires turnover before their first anniversary, while 46% of all new hires fail before 18 months.
One of the primary reasons for this turndown is mismatched recruitment and selection strategies in the HR system that is apt for the modern workforce. Here is a practical guide on how to address this problem.
Personalize The Hiring Process
The modern workforce doesn’t settle just for the job offer or the compensation package. Especially with the rise of the remote workforce, thanks to the pandemic, people now have the flexibility to choose where and whom to work for. This means to fetch top talent from the modern workforce, the hiring and selection process should be upgraded to attract such candidates and meet their demands in a personalized way.
Research the market of potential candidates and understand what benefits attract them the most, and try to personalize your compensation and benefits package accordingly. Address these benefits at the initial discussion, and if you feel a candidate is ideal, consider their expectations from the compensation or benefit package as well.
Improve The Interviewing And Assessment Process
Thankfully with the advancement of cloud-based HR software and related HR technologies, there are many ways you can improve the initial screening or assessment process to filter only the most suitable candidates.
However, to do that, you need to improvise the interviewing or assessment process to learn more about the candidates, their skills, and their capabilities holistically. Running the input obtained from assessments or interviews through a proper recruitment system can then shortlist candidates who meet the expected standards for a given role, thereby making the selection much more effective and simplified.
Having an interesting and creative interviewing or assessment process also represents your organization in a positive light to the modern workforce, who are attracted by innovativeness and futuristic working patterns.
Conduct Peer Interviews
Traditionally it’s the HR staff or manager who conducts job interviews, which in truth may not be fully explanatory about the details of the job to the candidate. The modern workforce prefers to get a thorough idea of their job before accepting a job offer. They also like to analyze if it benefits their long-term career objectives.
Being unsatisfied with the job role, responsibilities, and the limited scope it offers for future career goals after onboarding is one of the main reasons employees leave, sometimes even before completing 45 days.
To address this, it’s recommended to include a peer or an employee already doing the job open for recruitment during the interview process. That way, the employer will get a better understanding through the peer who has hands-on experience on the job if a candidate is good for selection. On the other hand, the candidate will also understand if they can meet the position’s expectations, making it a win-win situation.
Hire Through Placement Firms
One of the main reasons why it’s challenging to recruit and select the right candidate is the large pool of talented applicants and not having enough time to scan all of them. Unfortunately, the tedious manual process associated with a traditional recruitment and selection process poses a high risk of top-talent slipping out.
Thankfully outsourcing your recruitment and selection process to placement firms can make this process simplified from every angle, starting from posting a job on effective platforms to shortlisting, interviewing, and actually selecting.
Placement firms have the relevant HR platform, strategies, and techniques specific to each industry that recruits and selects only the best candidate for a given role. As they are experts in doing this respective HR function for many industries, they know which methods work well for a designation, which perfectly attracts the attention and expectations of the modern workforce.