1. Your internal recruitment metrics focus on the wrong KPIs
In our article on the hidden costs of recruitment, we argued that retention was the true metric for successful executive recruitment. Failure to retain employees costs the UK economy over £2billion each year. If your internal recruitment KPIs are based around time to hire, CV to interview ratios and interview to hire ratios... then you’re missing the whole point of a successful recruitment campaign.
2. You think that more recruiters mean better candidates
Using multiple agencies to fill your vacancy does not motivate your recruiter to do a better job. In fact, it has the opposite effect. Recruiters want to dedicate their time to quality work on your behalf.
More agencies give you more CVs.... not better CVs.
You’ll get a representation of the available candidates within easy reach of the recruiters rather than a representation of the best candidates. Contingent recruiters grade your job according to level of “fillability” and a highly competitive job equates to low priority. Your recruiter will do the bare minimum to submit a shortlist once they have finished working on more fillable jobs for other companies.
3. You aren’t incentivising your internal recruiters or your recruitment agencies in the right way
If you demand the best candidates but then incentivise your recruiter by paying a low margin, a lengthy rebate period, massive payment terms and a raft of competition, it’s no wonder your recruiter isn’t providing the service you need. This also goes for your internal recruiters. If you are incentivising them on fill rates or time to hire, then you won’t get the right outcome.
Instead, incentivise your recruiter to deliver the desired outcome. The true value of any recruitment process is to ensure that the person is still in the post in a year, two years or three years later. Get your recruiter focused on the right job. After all you’ll pay more if you must fill that role twice in the space of six months.
4. Salary and reward structure out of date
This is straightforward. You are offering last year’s salary for this year’s job. Reward structures move so quickly that you need to keep your finger on the pulse. When big pieces of regulation or hot topics hit the market, you need to be aware that salaries go up dramatically and you’ve got to react accordingly. Use your recruitment partners effectively to provide official or unofficial benchmarking. It’s worth investing some money to get a tailored piece of work if you can.
5. Your process doesn’t show that it values applicants
According to Indeed.com, 70% of applicants judge a prospective employer by their recruitment process. Too many recruitment processes are too slow and opaque and fail to move candidates smoothly or quickly through the process. Everyone wants to feel valued by their employer and this applies equally to prospective employers. Waiting for weeks on a response to a CV or feedback for interviews gives a subtle indication that people are applicants rather than valued future colleagues.
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