How to secure the top candidates

In Luxembourg companies are losing out on the talent they want in around 20% of recruitment processes because those processes are too slow. For the vast majority of roles the Luxembourg job market is candidate driven i.e. there are few candidates relative to the number of roles, meaning that good candidates will receive multiple offers.

 

     The problems with slow recruitment processes

  • A slow recruitment process is indicative of a bureaucratic company. Top candidates want a framework in which they can make things happen rather than be stifled by bureaucracy.
  • Resource wastage is HUGE. If you don’t secure a strong candidate at the first attempt then the whole process starts from scratch… time spent reviewing CVs, interviewing, negotiating, checking references etc.

 

Typically good candidates are on the market for less than three weeks which means that from receiving a CV through to making an offer you cannot afford delays or you may need to restart the process.

 

Planning and communication are critical to attracting the best people so here are three tips for a nimbler recruitment process and what you can say to other internal stakeholders to help keep them on track:

  • Identify likely obstacles before you begin – it only takes one decision maker to derail your recruitment process. Identify who needs to be involved and either find ways to circumnavigate anyone likely to slow the process down or make sure they buy into the importance of the timetable.

Key message: 20% of companies in Luxembourg are missing out on their preferred candidate(s) because internal processes are too slow. Good candidates won’t wait for us so we need to quick responses and a flexible process.

  • Communication & scheduling – with two weeks from receiving CVs to making an offer everyone involved must be decisive and structured. Get everyone to block out relevant times and dates in their diaries. Point out that it is a candidate led market and pauses in the process mean they’ll likely have to go through the process again.

Key message: There are more roles than candidates at the moment and if our process is delayed the best candidates will likely accept offers elsewhere meaning you and your colleagues need to go through the whole process again.

  • Liaise with your recruiter – let your recruiter know asap about any preferred candidate(s). They can find out where that individual is with other recruitment processes and may be able to help persuade them to delay accepting other offers.

Key message: Feedback to us the same day as you interview so we can update the recruitment agency who can then get the candidate enthused.

Tuesday Apr 4, 2017