Less Is More In A Talent Scarce Market
Currently, Amazon offers over 480 million products online. That’s an amazing amount of choices and great news if you’re looking to stock your home with the latest tech gadgets, cleaning products, beauty items and mouthwatering snacks.
However, when it comes to recruiting top talent in a talent scarce market, using a process that focuses on volume isn’t the best solution. Did you know that the average company reviews 250 resumes for each job opening but only interviews 6 of those people? That’s a lot of time and energy wasted on mediocre candidates!
What if there was a recruiting process that focused on spending more time interviewing and vetting a fewer number of highly qualified candidates?
Good news…there is! It’s called Performance-based Hiring. The process focuses on LESS IS MORE – spending more quality time with fewer candidates. This recruiting process leads to better results and top performers – Guaranteed.
Here are 3 reasons why LESS IS MORE in recruiting is a Win/Win for everyone.
- Improved Time to Fill and Cost Per Hire. Spending time sourcing and reviewing resumes for hundreds of candidates takes a lot of time, money and resources. Today, many human resource departments say that their number one issue is that they don’t have the time necessary to fill all the open positions. If you create a process to eliminate sourcing time and reviewing resumes of candidates who weren’t the right fit from the beginning…you’re already ahead. In addition, your human resource departments and hiring mangers valuable time is spent interviewing the right candidates from day one.
- Hiring true Top Performers – Guaranteed. How many times have your hired somebody just to realize that they were the dreaded “one hit wonder”. They looked good on the outside, but when it came to truly performing, didn’t have the staying power. With the Less is More mentality, recruiters spend more quality time truly vetting qualified candidates with the Performance-based Hiring process. This process has unique vetting components that really dig deep into a person’s background and accomplishments to truly see if they can achieve the goals and objectives outlined by a company—a process that ultimately guarantees performance and the right hire.
- Increased Retention Rate. One of the big issues in business today is retention rate. And one of the top reasons for people leaving a company is what they were hired to do and what they actually do were not the same. With the Less Is More Performance-based Hiring Process, spending more time a smaller number of qualified candidates allows recruiters to take the time to clearly communicate key goals and objectives and help the candidate see the opportunity as a true career move. If the candidate looks at the opportunity as a true career move and performance objectives are clearly defined, they are more likely to be successful and fulfilled in the role.