You might think that the biggest hiring mistake a company can make is hiring the wrong person for the position. And you would be right.
However, about the only thing as bad as hiring the wrong person is letting the right person get away.
The problem is that organizations make this mistake all of the time. Even worse is the fact that they rarely know when they commit it.
That’s the bad news. The good news is that this mistake is completely avoidable. However, in order to avoid a mistake, you must first be aware of it.
Letting the right person for your position get away is actually a two-step process. That’s right: the mistake is actually comprised of two smaller, interrelated mistakes. However, considering what’s at stake, these are two of the biggest hiring mistakes that companies can make.
And here they are:
#1—Not letting candidates know where they stand in the process
Effective communication is crucial during the interviewing and hiring process. This is especially the case when it comes to top candidates. That’s because these are the candidates who are in demand the most. There’s a good chance that they’re interviewing with more than one company and not just your organization.
Ideally, you should lay out the process for candidates, letting them know the specific stages that it contains. Then, when you communicate to them where they stand in the process and the timeline involved, they’ll have a better idea of the situation.
When candidates don’t have a good idea of the situation? They assume the worst: that the company is not interested in their services. So they mirror that assumption, and you lose out on great talent.
#2—Allowing the process to drag out too long
With top candidates, the longer the process drags out, the more likely it is that the candidate will receive an offer from a competitor. Remember, they’re probably interviewing with more than one organization. As such, you’re competing against that organization.
The interviewing and hiring process should last no more than four to six weeks. Any longer than that and you’re in danger of losing top candidates who are part of that process. Sure, you want to make the best hire possible. Yes, you want to do your due diligence. But don’t analyze yourself into oblivion. You don’t have that kind of time.
The worst-case scenario is when a company commits both of these mistakes in tandem. First they don’t let candidates know where they stand in the process. Second, they allow the process to drag on longer than they should. That’s a recipe for hiring disaster if you’re looking to hire the best candidates in the marketplace.
Those are the candidates you’re looking to hire, right? A-level candidates? If you’re not interested in those or if B and C-level candidates are okay with you, then committing these hiring mistakes is no big deal.
But what do you think your competitors are doing? In which candidates are they the most interested?
The Doepker Group can help you hire the best talent in the industry! Click here for more information about The Doepker Group’s services for employers.