Increased applicant flow is giving you a false sense of security
Times have changed…quickly.
Companies have re-gained the upper hand in the previously so-called ‘candidate market.’ Applicant flow for open positions is growing, almost to where it was right after the dot com bubble burst.
The ‘post and pray’ strategy is now the ‘post and pick’ strategy. The misconception is that quantity = quality. Sure it increases the likelihood of a successful hire, but your screening and your interview process needs to be air-tight.
The last two years have forced companies to hire a lot of “B” and “C” players due to the challenge of finding and sourcing top talent for their open positions. Companies are laying off their bottom 10 percent, and I don’t mean to generalize or insult anyone reading this, but it is well-known that companies are not laying off their top performers or will they ever. This creates a saturation of unemployed “B” and “C” level professionals that are applying for your open jobs.
Are you looking for a top-notch Sales Manager? If they are ‘top-notch’ they are working and well looked after by their current employer. An up-and-coming stellar marketing manager? You will likely get over 300 applicants in the current market for a job like that, except the one you really want needs to be pro-actively sourced. Be careful and be diligent in your selection process, you have the opportunity not settle for anyone except for ”A” players if you are a great company to work for.
Some companies are handling the increased applicant flow and access to qualified candidates by using screening technology or have implemented top grading interview and selection processes.
The current economy is allowing tremendous opportunities to improve the overall capability of your organization.
The misconception is that the war for talent is over, but it is still very much alive and kicking; it has just taken a different form for the time being.
Organizations need to be heavily focused on their recruitment process right now. The increased candidate flow provides a tremendous opportunity to improve your external employment brand and the speed and efficiency of your screening process is paramount.
Don’t let your increased applicant flow fool you. You still need to chase passive candidates and recruiting is still a priority. A great team full of “A” players is exactly what will push your company ahead of competitors in tough times.
Tags: lay-offs, top grading
