You Snooze You Loose

It happened again. You lost a perfectly good candidate to another company. How could this be? Your company has a good reputation, innovative products, and positive work environment. You’re able to attract top candidates and pique their interest. However, all too often, you fail to close the deal.

You’re not alone. This happens to hiring managers at all levels and it can usually be attributed to delays or indecision during the hiring process. In other words, you snooze…you lose.

Take this mini test to find out if you suffer from what I call, Hiring Paralysis:
1) Do you have a fear of making a wrong choice?
2) You tell candidates: “We’ll get right back with you” but actually let one to two weeks go by?
3) Your busy schedule, business trip, and/or vacation take priority over filling the vacant position?
4) Your choice candidate accepts another job before you even make an offer?
5) Your candidate has a change of heart after accepting your offer?

If you answered yes to one or more of these questions, you may be losing good candidates due to a clogged hiring system. Delays and indecision on your part give candidates more time to look at other opportunities, receive promotions or land a big account. The solution is to shorten your hiring cycle. Here are a few suggestions:

 Strike while the iron is hot. If you have a great candidate, move quickly.
 Research the market prior to interviewing. Know the going rate for the job and budget for it. Your candidate will know if your offer is fair and competitive.
 Keep your story straight. Nothing is worse for a candidate than changing the requirements and job description from one interview to the next.
 Don’t wait until the eleventh hour to negotiate. Try to reach an agreement with a candidate prior to making a final offer.
 Limit the number of people involved in the hiring process. The more staff you involve, the longer it will take to make a final decision.
 Keep your candidate informed. Stay in close contact with your candidate every step of the way. Don’t let days go by without communication or your candidate will think you have lost interest or hired another candidate.

If too many candidates are turning away, you need to rethink your hiring process. Make the necessary adjustments immediately or while you’re sweating the small stuff and letting the clock tick, your competitor’s offer for a job may already have been accepted.