Don’t miss out on top talent: How efficient is your interview process?

A slow interview process can have a negative impact on your business’ hiring capabilities, have you considered that this delay could be the reason your vacancies remain unfilled? The finance market is experiencing a particularly competitive period, and ensuring your business has an efficient recruitment process could be the differentiator you need to find talent in a manner that is both professional and timely. Want to learn more,  John Falconer, Recruitment Consultant – Finance & Accounting, shares his tips for streamlining your interview process.

While it is undoubtedly important to ensure that you hire the right person for the job, drawing out your interview process over 2, 3 or even 4 weeks will allow for candidates to attend interviews elsewhere. If this person ends up being your ideal candidate, you are ultimately reducing your chances of securing the hire. In my experience, the key factor with this is determining an appropriate timeframe for interviewing, regardless of the number of stages involved. For example, a three-stage process over a week would be far more effective to narrow down your candidates than a two-stage process over 2 weeks. Not only does this reduced period ensure your ideal candidate is deterred from seeking a role elsewhere during this process, but it also demonstrates to potential future employees that you have a clear strategy, creating a far more attractive proposition.

Another mistake commonly made by hiring teams is waiting until they have multiple candidates on a shortlist before arranging any interviews. In an ideal world, it would be great to have six candidates all at same stage to compare, however in the current buoyant job market – time is of the essence. Flexibility and willingness to interview on an ongoing basis will enable a far better candidate experience and will only increase your chances of finding a suitable candidate.

As with most recruitment processes, there generally isn’t a one-size-fits-all approach. However, ultimately, if you are able move quickly, demonstrate your interest and be prompt with decision-making, you stand a much better chance of hiring the best talent available. I have recently worked with many businesses in the finance sector to support them in clearly defining and refining their hiring process. If you are looking to add to your team in the future, please don’t hesitate to reach out on LinkedIn or give me a call on 01223 803055.

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