Time Kills Deals

"Time Kills Deals" - Most professional salespeople have heard this saying and it's absolutely true, but what does it mean in the current candidate-short marketplace, when it comes to recruiting people?

Here’s a top-line view of what’s happening in the market right now:

• There are more opportunities for candidates than ever before.
• We're seeing unprecedented levels of salary inflation.
• More and larger counter-offers are being offered, to persuade candidates to stay, even if they're halfway out of the door.

Slow & steady does not win

Clearly, the market is drastically different to the way it was 2 years ago. It's undoubtedly challenging, so what can we influence to improve outcomes? The time.

• The time taken to communicate;
• The time taken to give feedback;
• The time taken during the entire hiring process;
• The time between interviews (and the number of them) that are involved to make a job offer

The Chase

As a Recruiter, one of my least favourite tasks (and I do it several times daily) is chasing clients for CV feedback.

Here's a scenario: A client briefs us on an opportunity they want to recruit. They tell us how critical the position is to the business and how much of a headache not having this person is causing. We then scour the marketplace to produce three qualified candidates who fit the brief. We send the candidates' CVs to the client. We call the client excited to be able to tell them they're on the way to solving that business-critical issue and then we hear…

“WELCOME TO O2 MESSAGING SERVICE” (other mobile service providers are available)

We call the client for 2 weeks. Nothing - no response. Just at the point where we're about to place a missing person advert for the client, they reappear! There is a semi-apology something else has cropped up that got in the way and the client wants to know if the candidates are still 'interested' and if they can come in tomorrow for an interview.

Now I need to be clear here, I haven't written this expecting or wanting sympathy for professional Recruiters - THIS IS ABOUT INFLUENCING THOSE HIRING TO ACT IN THEIR OWN BEST INTERESTS.

Back to the scenario – even if those three candidates are still available, their interest may have waned. When they were sold the role 2 weeks ago, they were excited. Since then, they've gone to bed and got up 13 times; their life has moved on in one way or another. Therefore, we now have to assess:

• Are they as interested now as they were then?
• Is the star candidate the best one on the shortlist still available (there's always a star candidate)?
• Have they been approached about other opportunities?
• Are they at the interview stage elsewhere?
• Do they have several other job offers?
• Are they even still in the market?!

Procrastinating drastically reduces your chances of being able to hire your preferred candidate now more so than ever - so don't do it.

So, what does best practice for this part of the recruitment process look like:

1. As a client, you need to give feedback on CVs within 24 hours – the longer you leave it the less likely you are going to be able to hire your preferred candidate.
2. Ask your Recruiter to highlight the areas of experience you want to see which are critical to your decision-making. This should make reviewing CVs easier.
3. If your timescales change, make your Recruiter aware so they can then manage candidates' expectations.

I'll let you in on a secret: Recruiters don't enjoy chasing you for feedback any more than you enjoy being chased. Maximise your chances of getting the best outcome with candidates by being efficient throughout the process.?

It would be great to hear how you manage this part of the process. Comment below to share your thoughts.