Your Approach to Hiring is STILL All Wrong
The Harvard Business Review posted an article in 2019 titled "Your Approach to Hiring is All Wrong". 4 years later and I don't think we've learned the lessons.
1. "Don't post "phantom" jobs". It only burns the credibility of the company, and chips away at the reserve of enthusiasm left in the bank of the candidate.
2. "Design jobs with realistic requirements". Years of experience, target compensation, quotas, degree requirement, etc. Consider if it's realistic and necessary.
3. "Reconsider your focus on passive candidates". I have worked with companies who don't want candidates with the "Open to Work" banner on their LI profile picture. This article cites a LinkedIn study showing that the number one factor for passive candidates to consider a move would be money, while “for active candidates the top factor is better work and career opportunities”. Wouldn’t you rather have a candidate whose top values in a role are qualities other than money?
4. “Understand the limits of referrals”. I have seen job postings from managers who state, “No recruiters, my network and referrals are enough”. However, this article points to the fact that referrals only perform better than other hires when “referrers look after them and essentially onboard them”. If you have the capacity for a team member to onboard and mentor the new hire, and they have an existing connection, I think this is stellar. Otherwise, I wouldn’t rely on referrals performing any better than another well-qualified candidate.
5. “Persuade fewer people to apply”. While we don’t want to set unrealistic standards, we also don’t want thousands of submissions from sub-par candidates as each applicant costs you money. Test candidates’ standard skills, be transparent about compensation, and ask for references up front. Asking the candidate to prepare a document or gather all details required for the process will begin the self-selection process.
6. “Revamp your interviewing process”. While we are using AI and NLP to read resumes and find keywords (please make sure you have a human in the loop in this process), we are leaving Culture Fit, one of the most important aspects of a candidate, up to subjective consideration. Don’t be afraid to tap into machine learning models that can help reduce unconscious bias in the interview process. Aim for fewer and more consistent interviews. Always be aware of the bias prevalent within yourself and the machines, and try to balance for this.
The main thing we haven’t learned after 4 years? How to adequately measure all of this. Internal hires vs external, the true cost per applicant, missed opportunity costs on hires not made, and real costs on the wrong hires. We do the best we can with the knowledge we have, but only if we apply this knowledge!