Guest blog spot by Outside-In® Team Member Alex Patton
Recently, the idea of an improving economy and job environment has been mentioned often, with the support of statistics released by the Bureau of Labor Statistics (BLS). Along with the aforementioned numbers, we’ve spoken to the challenges of sourcing and recruiting within a changing employer/employee market. To support strategic sourcing techniques, there are a few ways to keep potential candidates (and customers) engaged while there are 4.7 million open jobs.
That’s right. According to the BLS, there were 4.7 million open jobs on the last day of July, 2014. That is more than any time since February, 2001. The increasing number of open jobs has also led to the lengthiest time-to-fill average nationally in thirteen years at 24.9 days, according to Dice Holdings, Inc. recent survey.
We are all aware that time is money, and time-to-fill is a critical metric when recruiting. A great way to cut down on the time-to-fill a job, continuous engagement with the candidate and customer, should be a point of emphasis. Specifically, those passive candidates, who again, have other options with 4.7 million jobs currently open. Keep the candidate involved in the process, don’t let them slip away and let your job contribute to that lengthy average time-to-fill. Respond quickly, keep them informed, and help your candidate understand the process. Keeping a candidate guessing is a great way to lose interest, think, “more is always better” when considering engagement with passive candidates.
Candidate engagement isn’t alone when trying to cut down on a lengthy time-to-fill. The customer can also become “lost”, and keeping your customer completely engaged should not be overlooked. In the next CBI Way blog, we’ll explore how to keep the customer engaged, and the factors than can be influenced otherwise.
The CBI Way blog series explores the tools and practices used in Talent Acquisition. CBI Way is CBI Group’s recruiting approach and methodology – it’s how we do what we do! Check in with CBI Way for insights around workforce education and training, the latest trends in recruiting technology, and how to best utilize these tools towards improving your own recruiting practices.