Process, Process, Process is to hiring talent…as Location, Location, Location is to real estate.
In real estate, location is an important determining factor in value.
In hiring talent, process is an important determining factor in hiring “desired” talent.
Why do I say “desired”? Without efficient process you may hire talent; but it likely won’t be the desired talent…as that talent will be lost to competitors with better process; and you’ll settle for talent leftover. Efficient process is highly valuable; while the lack thereof is expensive.
Unemployment is at 3.9%. Great news for candidates (!) but not great for employers. The DOL has noted more job openings than people to fill them. And this doesn’t distinguish between simply bodies in a seat vs truly qualified contributors.
If you have hiring authority, be strategic in how to update your hiring process of the PAST to achieve victory over the shrinking talent landscape of TODAY.
You may not have individual control over your company’s reputation, culture, compensation, location, benefits, etc…but you do have control over process! In this tight labor market, it’s CRITICAL that you establish the most efficient hiring process possible.