The Key Traits of a Successful Hiring Process
Written by Truity Partners team member Christine (Bradford) Thome !
Hiring in 2024 continues to be a challenging endeavor for many companies.?
With a competitive market, businesses often feel as though they need a magic wand to land the right candidate. There is also risk in making a bad hire, I’ve talked to several leaders who worry about the reputation of themselves within an organization and how a bad hire can negatively impact a company’s reputation. As a recruiter specializing in accounting, finance, and HR roles in Wisconsin, I’ve seen seamless hires unfold and watched hiring mistakes derail a process entirely.??
So, what makes a hiring process truly effective? Let’s explore the key traits that lead to success.?
1. Define the Role and the Ideal Candidate Clearly?
One of the most important first steps is knowing exactly what you’re hiring for. It’s not enough to have a vague idea of the position—get specific. What will this person need to do from day one, and what are you willing and able to train them on? In 2024, with many companies facing skills gaps, this clarity is crucial. According to the Society for Human Resource Management (SHRM), poorly defined job requirements are one of the leading causes of failed hires.??
2. Set a Realistic Timeline?
Is this hire a priority? Then treat it like one. Set a realistic timeline, and don’t let the process drag out. Research shows that the average time-to-hire in the U.S. is 41 days, but that can stretch to nearly 50 days for technical roles, like finance and HR. Long hiring processes can mean losing top candidates. A 2022 survey by LinkedIn found that 60% of candidates will drop out if the process takes too long. Make room in your schedule for interviews and prioritize this hire.??
3. Leverage Professional Networks?
Tap into your network and use your resources, whether you’ve hired recently, or it’s been a decade. In 2024, with many positions requiring niche skills, getting a pulse on the market can make a huge difference. Are you offering competitive compensation? Are you targeting a rare skill set? Consult with a trusted recruiter for real-time insights.?
4. Streamline the Interview Process?
A streamlined interview process is key. Prepare targeted questions and involve the right stakeholders at each stage. Each interview should have a specific purpose, whether it’s to assess cultural fit, technical ability, or growth potential. Too many interviews, or unstructured ones, can prolong the process and frustrate candidates. LinkedIn found that 55% of candidates believe it should take less than two weeks from first interview to a job hire. Be proactive in communicating with interviewees on the outlined process and likely timeline.?
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5. Evaluate and Decide Quickly?
When you’ve defined the role and qualifications, it becomes easier to make a decision. Delaying a decision often leads to losing candidates to faster-moving competitors. Be confident in your evaluation and prepared to move forward. LinkedIn also found that the most desired candidates are off the market in 10 days!?
6. Make a Compelling Offer?
Your offer should be competitive, both in terms of salary and growth opportunities. In 2024, candidates expect to receive offers that align with market rates, and a lowball offer can quickly sour the relationship. A LinkedIn report found that 49% of workers cite compensation as the most important factor in accepting a new job. This is followed by professional development and better work life balance. When presenting an offer, ensure you’re outline the long-term development you and be clear about what hours and expectations look like.?
7. Onboarding Is Part of the Hiring Process?
Hiring doesn’t end with the offer letter. Candidates are evaluating you throughout the entire process, including onboarding. Make sure expectations for the first day are clear, the training plan is solid, and the new hire feels supported. SHRM reports that structured onboarding programs increase retention by 58% at the 3-year mark after someone is hired on.?
By focusing on these key traits—clarity, speed, and effective communication—you can improve your hiring process and increase the likelihood of securing the best talent in 2024.?
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Sources:?
Manager | Finance, Accounting & Tax Recruiter | Lover of the outdoors!
5 个月Great article, Christine! Lots of good content here for companies who are looking to hire in this competitive market.