Many companies we hear from each week remain oblivious to the fact that hotly contested talent in key cities from coast-to-coast have multiple opportunities and offers available to them. Between those multiple offers and counteroffers, the tug-of-war for talent is now in full swing. Only those companies with the right blend of perks, incentives, working conditions, fringe benefits, and compensation packages are going to stand any chance at winning the battle.
At times, even incentives and great working conditions may become insufficient if a company’s hiring process is lethargic. The hiring process becomes critical as organizations herd candidates along from first interview to the offer and (hopefully) acceptance stage. Only the quickest and most efficient of those companies will claim victory .
One large insurance company we’re aware of makes a great example of a company that rapidly hires and on-boards individuals faster than the competition can blink. In fact in several cities ranging from Northern California, to Phoenix, Arizona, and Dallas to Florida, they have hired rapidly while the competition lost out. Stringing along talent through unnecessary or lengthy interviews, or arduous profile testing procedures, is likely to dissuade rather than persuade. We’ve observed a few cases this year where the individual candidate decided he/she is worth much more just from making it to the offer stage suddenly increasing their salary requirement beyond the company’s budget. Another example of the pitfalls of a protracted process.