By Thea Raskin, Founder, The Inventory
In the highly competitive landscape of talent recruitment in 2023, it’s becoming increasingly challenging for companies to attract, and retain, top talent.
Despite the availability of resources and advanced technology, many organizations don’t even realize the factors that are negatively impacting their recruitment efforts and are missing opportunities to enhance their talent acquisition strategies, leaving them behind the competition and facing unforeseen struggles.
It’s more important than ever for businesses to streamline their recruitment process to thrive during turbulence and reduce turnover. There are some critical strategies to navigating a successful recruitment process in today’s changed business landscape.
So what are the most critical mistakes companies are making? And how can your business avoid these mistakes that are undermining your talent recruitment – and retention?
1. Failing to make employees feel valued
Which of your employees have shown above-and-beyond dedication? Been with you through the thick and the thin? It’s time to reward them.
And it doesn’t have to be monetary – you can simply honor their growth trajectory, celebrate their wins, or provide exciting opportunities. This can go a long way in boosting morale and loyalty among existing employees. According to a study by LinkedIn, 94% of employees would stay at a company longer if it invested in their careers.
People talk – how you treat current employees affects your recruitment efforts. Get a plan in place to reward your existing talent for their work and their loyalty – otherwise it will either directly or indirectly affect your ability to attract the best talent.
2. Taking too long to onboard candidates
Even with a downturn in the market there is still a candidate and talent shortage. Don’t fall for thinking the power is all in your hands – today’s landscape is better than 2022 but there is still very tough competition vying for the best talent.
The swifter you can move candidates through the process and keep the momentum high, the better it will be for securing them as a hire for your company. You will convey professionalism and the talent will get a sense of an organized company.
A chaotic recruitment process portrays a chaotic company. A survey by Glassdoor found that the average interview process in the US takes 23.8 days, but some companies take months to make a decision, which leads to frustration and disengagement among candidates. This is a serious mistake companies are making, and keeping your hiring process tight with high momentum is a foundational strategy in a turbulent landscape like we are still experiencing.
3. Not walking the talk when it comes to DEI
Talent are frustrated by hearing companies are committed to DEI – diversity, equity and inclusion – when most use it as lip service.
If you are committed to DEI, this means looking beyond the industry norms and hiring for skills and potential, even if there is a learning curve involved.
Craft an updated DEI vision, mission, and strategy. Develop a DEI recruitment and retention plan. Get everyone engaged. Get involved in diverse communities and integrate your recruiting tactics.
Obtaining top diverse talent from your competitors does not contribute to true diversity, but rather is a redistribution of people who were not going to have challenges finding a job in their industry already.
4. Check-off-box interviews
The #1 complaint from talent is that the person meeting them did not have thorough knowledge on the role they were interviewing for and were simply checking off boxes.
If you have someone interviewing your candidates who does not know the niche, that needs to be a point of transparency so a dialogue is formed. Having someone check off boxes is not a positive candidate experience, and it negatively impacts candidates’ desire to join your company. Be a human. Be authentic. Every single person at the company is an ambassador of the company, and especially the recruitment team. The talent experience is paramount to building a company image and retaining it.
A 2021 research study conducted by CareerPlug found that 58% of candidates have had a poor candidate experience and declined job offers – which can damage a company’s reputation and make it harder to attract top talent.
5. Ghosting candidates who you don’t hire
Close the loop. Get back to talent. While it may not be possible to achieve 100% perfection due to workload, strive for maximum professionalism and always follow up with candidates who have reached out to inquire about the results. Saying you don’t know is okay too! Communication and openness with candidates is key.
Talent recruitment has become a lot more complex and challenging for companies in 2023. To attract and retain top talent, you need to calibrate your recruitment process and increase your focus on the candidate’s expectations. Address gaps in your hiring strategies and factors that could be hindering your recruitment results. In the even more competitive landscape of talent recruitment in 2023, prioritizing these factors can give your company a significant advantage in attracting, and retaining, the best talent for your organization.
Thea Raskin is the founder of The Inventory, a people consultancy specializing in recruitment and retention services in the creative, brand and marketing space, connecting companies with talent, coaching people on their careers and job search, and providing tools and skills to those looking to become a creative executive and thrive in business.