If you’ve been here before, you’ll know that we are all about finding ways to improve your hiring process. In the past, we’ve talked about how you can make your hiring process faster and more efficient by using a digital recruitment platform, looked at methods to improve the experience for your candidates, and even detailed ways you can help those you don’t offer the job to. At the end of the day though, what’s the pay off? Why put in all the extra effort to optimize your hiring process? Aside from the obvious benefits, like money saved on expenses and shorter periods of time between vacancies, there are several other bonuses that will make you a believer in better hiring.
You’re Buying Free Press (And It’s the Good Kind)
Maintaining a positive corporate image is a tricky and powerful thing. If your company manages to nurture a winning public persona, the rewards can be great. However, self-promotion will only get a company so far, and the true measure of one’s public appearance is the public’s opinions. According to a survey by Glassdoor, 96% of candidates today read reviews on a company before taking a job there, with 95% stating that their decisions are influenced by those reviews. The influence of other people’s opinions, whether they’re friends or anonymous contributors on the internet, can’t be denied, and considering that an article from The Undercover Recruiter reports that 76% of candidates would “definitely” share the details of a positive hiring experience, it’s power to generate good press for your company shouldn’t be overlooked.
You’ll Save Money… On Salaries
Candidates are constantly searching for jobs that are more than just a paycheck, one where they enjoy the people and culture of the company they work for and don’t dread the hours between nine and five every week. So much in fact, that many are prepared to take a smaller salary if it means they get to work somewhere they feel positive about. According to CareerBuilder’s candidate behavior study, 70% of job seekers from Generation X and 62% from Generation Y said that they would be willing to accept lower salaries at companies with whom they had a positive experience. Making your hiring process faster and more appealing to prospective employees might not land you any pro-bono workers, but it just might help turn your candidates into advocates of your company, and save you some money in the process.
You’ll Avoid the Dreaded “Bad Hire”
Every company has at some point hired a candidate that seemed great at first, but soon proved themselves to be less than exemplary, ultimately leading to their termination. What companies often don’t realize however, is that bad hires are costing them more than just their replacement fees. According to an article from RecruitingBlogs, employers who had experienced a bad hire reported a range of other negative effects, including a loss in productivity, decreased office morale, and a negative impact on client solutions. All of these consequences from a single bad hire can hurt your company long after the candidate is gone, so avoiding the bad hire altogether with an improved hiring process is well worth the effort.
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