The Evolving Job Market in the Eyes of a Recruiter

The recruiting landscape has shifted dramatically in recent years. Candidates now have far more power than they did just a few years ago. In fact, research shows that the current job market is almost 90% candidate-driven. This means that companies no longer have the luxury of picking talent; talent picks them.

As a result, hiring qualified job candidates with in-demand skills, has become difficult. It also costly, and time-consuming. This has led to a major paradigm shift in recruiting. Companies are now focusing on candidates as customers.

Why Companies are Failing to Adapt to the Candidate-Driven Market

Many companies still follow outdated hiring practices despite high competition. This can have a number of negative consequences, including:

● Losing top talent to competitors:

In a candidate-driven market, the best candidates have multiple offers. They have the upper hand and are in the driver's seat. Companies that are slow to make offers or have a lengthy hiring process will likely lose out on top talent.

● Hiring Less-Qualified Candidates:

To fill positions, companies are in a rush to hire less-qualified candidates. However, this can lead to higher turnover rates and lower productivity.

● Creating a Negative Candidate Experience:

A complicated or time-consuming job application process can create a negative candidate experience. This can damage the company's branding and make it more difficult to attract top talent in the future.

How Companies Can Improve their Game?

Companies need to upgrade their hiring practices to succeed in the candidate-driven market. This includes:

● Being responsive to candidates:

Companies should respond to candidate inquiries as soon as possible. This enables the recruiters to move with the process in a smooth manner.

● Providing a positive candidate experience

By prioritizing a positive and inclusive candidate experience, companies can attract and keep top talent. at the same time, solidify their reputation as an employer of choice. This creates a win-win situation for both the organization and its employees. To achieve this, companies should keep a check on the feedback they receive. Especially from the recently interviewed candidates and joiners.

● Willing to train candidates:

Companies should be open to hiring candidates who have the potential to be successful. Despite of their skills and experience. Companies can provide training and development opportunities. This will help these candidates improve their learning curve.

By following these tips, companies can increase their chances of success in the competitive job market.

Recommended Resource: Best Hiring Strategies to Recruit Top Talents

What is Candidate Experience?

Candidate experience isn't about the interview. It includes every interaction and touchpoint from the moment a candidate first hears about your company till the first 45 days of their employment. This comprehensive view ensures you consider the entire journey of the applicant.

It is essential in the recruitment lifecycle as you want your reputation as an employer to stand out. This is especially for those candidates who didn’t make it to the job offer. Their experience in the selection process will determine whether they apply for another job at your company.

As a recruiter, I understand that a poorly executed recruitment process can have a negative impact. This goes for both candidates and the company's reputation.

When candidates feel unappreciated or unnoticed, they are more likely to spread negative reviews. This can lead to a vicious cycle, where the company has difficulty attracting top talent, and its employer brand suffers.

Here are some ways to avoid the pitfalls of a poorly executed recruitment process:

● Be prepared for interviews. Review the candidate's resume and prepare questions to ask them.

● Provide feedback to candidates. Whether the candidate is hired or not, it is important to provide them with feedback on their interview performance.

● One of the biggest mistakes would be “ghosting” candidates. If you decide not to hire a candidate, don't keep them hanging; let them know.

By following these tips, recruiters can help to ensure that candidates have a positive experience, even if they are not hired. This will help to protect the company's reputation and employer brand.

What Can be Done to Implement and Improve this Journey of Candidate Experience?

● Using Metrics to ensure continuous improvement

Important metrics include-

• Offer acceptance rates.

• Candidate feedback surveys.

• Early-stage employee retention rates.

Regularly track these metrics and set up quarterly reviews to discuss results and areas of focus.

● Avoid Negative Experiences Like the Plague

Candidates are more likely to remember and share bad experiences over good ones. One poor interaction can cost you a candidate and tarnish your employer's brand.

● Be Transparent and Communicate

Candidates appreciate knowing what to expect at each stage of the hiring process. Clear communication and transparency will improve the candidate's experience and make the process smoother for your hiring team. Create a hiring roadmap outlining each process stage and share this with candidates.

Wrapping Up (A Good Ending)

Improving candidate experience is not a one-time effort; it's a long-term commitment. Regular feedback loops, performance metrics, and focusing on treating applicants as valued individuals can make a huge difference.

Demonstrate company values

Ensure your job postings clearly articulate the company's values and what it's like to work there. For example, through blogs, articles, and videos on the company's careers website. Asking behavioral interview questions to assess how candidates have demonstrated your company's values in the past.

Providing candidates with a glimpse into your company's culture throughout the recruiting process can give them the opportunity to meet with other employees, learn about the company's mission and vision, and experience its values firsthand.

Lastly, as a recruiter, I also want to remind my fellow recruiters that candidates are people too. They, too, have feelings and deserve to be treated with respect as they themselves are trying to survive this tumultuous job market. You can better understand how your actions may impact them by putting yourself in their shoes. I believe the candidate experience is not just about sending emails or making calls, it’s about empathy, transparency, and treating candidates as valuable individuals.

Naazish Butt is a Mumbai-based Talent acquisition professional with 6+ years of experience. She has helped early-stage SAAS startups across India build awesome teams by fostering positive candidate experiences. She proudly calls herself a passionate learner and believes in upskilling from time to time. Lately, she has been enjoying some documentaries on ancient history and expanding her network actively. You can connect with her in this link.editor@vantagecircle.com