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Pay Transparency: Why And How You Should Implement It in Recruitment
Talent Acquisition
Why you should manage your talent pipeline
The candidate experience has an impact on your recruitment costs. Superior experiences decrease costs dramatically, while poor experiences increase them.
When they have bad experiences, candidates will not apply to your company again and, by sharing their experience, will discourage other talented people from applying as well. When your company needs to allocate more effort to find the best talent, your recruitment costs and the lead time for productive searches increase.
Most companies like yours find it more and more challenging to find the right kind of talent. Why do they turn away candidates who are not hired, disconnecting from the talent who could be their potential future stars?
Continue the dialog with the best potential candidates after the recruitment process and turn them into your company advocates.
A more efficient way to manage your talent pipeline is to continue the dialog with the best potential candidates after the recruitment process and turn them into your company advocates. At the same time, you can motivate them to learn new skills they might be lacking. All this can be achieved by providing every candidate with personal and relevant information.
When you communicate clearly to each candidate what you were expecting and what skills or characteristics they were lacking, candidates learn from the experience that they need to develop those skills in the future. Based on this initial communication, candidates will take action as they see fit.
To sum up, the candidate experience with your recruitment process matters. Some studies have shown that almost 70 percent of candidates would accept a lower salary compared to their second-best job offer if they have had a positive recruitment experience.The challenge for your company lies in a lack of time or knowledge (or both). In a typical recruitment process, the hiring manager and HR are involved. Often, HR professionals do not possess all the details about why a candidate is rejected. At the same time, hiring managers do not have the time or the writing skills to prepare high-quality, inoffensive, and legally safe personal feedback.
At TalentAdore, we have developed a solution that takes care of it all for you. Our solution enables you to generate and send 100 percent individual, personal, and relevant feedback to every rejected candidate in no extra time.
Would you like to know more about our solution? Request a demo.
