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“What is the HR market like at the moment?” This is a question that we are constantly asked by candidates and clients alike. We know that the world of HR is evolving at a rapid pace, and with the fluidity of Sydney and Melbourne’s HR markets at the moment, the competition for talent is fiercer than ever. Although we recognise that it’s critical to ensure the right decisions are made, moving quickly and decisively is just as important to securing the talent you need. 

A Competitive Market

The fight for talented HR professionals has reached boiling point in recent times, with individuals being recognised and snapped up by employers quickly. A contributing factor to this is Australia’s low unemployment rate, which recently hit its lowest level in six years.

With such competition in today’s market, this means that HR professionals now have more choice and influence over where they work. As a result, we are often seeing excellent candidates receive two, sometimes three offers, in the space of just a few days.

Getting Your Process Right

Although it’s important to ensure that processes and procedures have the appropriate rigour and thoroughness to make the right decision, timing is everything. Take some time to review your recruitment process and assess each step, looking at how each could be streamlined, particularly when it comes to the involvement of stakeholders and interviews.

Remember, the longer the wait to make a decision, the greater the risk of losing candidates to more nimble competitors. So, whether it’s moving too slowly, or there are too many steps in the process, you don’t want to miss out and be forced into starting the hiring process all over again.

Involvement of Key Stakeholders

Although sometimes there is no other way around it, having too many stakeholders involved will inevitably lengthen the recruitment process. Do you have the right people making the decisions to approve the appointment? Instead of two or three executives weighing in on the decision, perhaps the panel could be reduced?

Too often, we see organisations get off to a quick start, only to be delayed by lack of availability in key decision makers. Of course, we understand that there are times when they need to be invested in the decision, so be sure to pre-book time in people’s diaries, even if it’s only a placeholder. 

Organisation of interviews

When organising multiple rounds, it’s even more critical to keep it as efficient as possible. Aim to have the first and second interviews completed within a matter of days. Allowing the process to be drawn out over weeks will only increase the chances of top candidates being approached by competitors with more streamlined recruitment processes.

Fast-tracking the hiring process also shows genuine interest in a candidate, communicating to them that you are serious about bringing them onboard.

Summary

With an influx of HR opportunities in the market, the very best talent is being snapped up by those who are moving quickly. In order to recruit the very best talent for your company, it’s critical to stay ahead of the game. Although you don’t want to compromise any recruitment processes, those that move too slowly will see their organisation repeat recruitment efforts, costing time and money.

If you feel that your recruitment process needs improvement or if you’re looking for support in your HR Recruitment, get in touch with me here.