When it comes to recruitment, above anything else, aligning candidates to your business’ values and culture is so important. This requires assessing someone’s own values, beliefs and behaviors against your own values and culture to evaluate what constitutes as a good ‘fit’ in a candidate.
In Mark Murphey’s Hire for Attitude reports he states that of the 20,000 new hires 46% of them failed within 18 months and of these, 89% left because their attitudes did not align to that of the company. Only 11% failed because of a lack of skills.
It is clear from this report, and so many of our own case studies, that finding a candidate with the same values and vision as your company is so much more important than simply acquiring the right skills. Skills can be taught, behavior can’t.
So how do you find these candidates that are so aligned to your own values?
First, you must define your culture, your values and your beliefs. This sounds obvious, but so many companies we see struggle to put into words what they are all about. And if you can’t put it into words, then how will your candidates know if you are the right fit for them?
Never forget that the recruitment process should work both ways.
While candidates are working hard to impress you, you need to be working just as hard to engage and excite them. Now that you’ve defined your values, you need to live them and help candidates understand who you are. There are two key areas to work on to do this: the overall recruitment process and the interview situation. Refining these things leads to improving the candidate experience.
It can be good…
Whether candidates are appointed or not, maintaining a positive reputation can put you in a good light in the talent industry and ensure you have a pool of talent available for future hiring campaigns. CareerBuilder reported that 56% of candidates who felt they had a positive hiring process experience said they would seek employment with the company again in the future, 37% would tell others to apply there, and 23% would be more likely to purchase products or services from that company. So candidate experience not only affects your hiring, but your business as a whole.
Or it can be very bad
On the other end of the scale, a poor candidate experience can be extremely detrimental to your brand. Global brand PepsiCo have measured the impact candidate resentment can have. Their model estimates that if 100 applicants apply for one role and PepsiCo hires 5,000 people annually, then each year 495,000 candidates will be rejected. If each one of the candidates had a negative experience, and most likely told 1 friend, then that makes 990,000 people with a negative view of PepsiCo. Assuming that around 8% of people who know of the poor experience would stop purchasing the brand’s products and an average customer is worth $20 per year to PepsiCo, then each year of poor candidate experience is responsible for $1,584,000 loss of revenue.
Let that number sink in for a moment. The negative candidate experience is most likely the cause of a lack of communication and positive experience. So in reality this loss of over $1 million is as a result of no effort at all.
In fact, as high as this number is, Russell Beck, an expert in Talent Management, innovation and recruitment thought leadership, presents his theory that the revenue loss should be much higher, meaning poor employee branding and a bad candidate experience could be costing businesses millions every single year.
Zero Fee Recruiter is a new and better way to find great talent.
We are the world’s largest passive candidate marketplace. We provide you with qualified professionals that we have contacted and vetted for each position you are looking to fill. We deliver only candidates that are interested in the position, are available in your location and have agreed to your salary range.
ZFR focuses on passive candidates that we source through our proprietary system, “Reach Out”, and this enables our team to reach candidates that are not actively looking.
We guarantee results! It’s that easy…