The High-Level Professional Employment Market Mirrors Housing Market Once Again
From 2014 to 2018 if you were looking for a home in one of the prominent Houston suburbs you would have looked at a number of homes, narrowed that group to your favorites, then you come back a week later for a second look. Your offer would likely be 5-10% below list price to start negotiations.
Today in that same suburb, you’ll receive notification of ideal properties coming on to the market, look the very next day, and must make a full price offer on the spot or risk losing it to the very next qualified buyer.
Surprise, surprise, the competition for high level professionals (10+ years) is very similar. Many of our candidates are getting multiple offers in the first two or three weeks of earnest searching. Many with signing bonuses and other perks. In IT right now, if you want to hire a Sr. Developer and your job is not fully remote, your top candidate will get 2 or 3 offers that are.
This puts a lot of pressure on companies to be prepared to make significant hiring decisions much faster than in the past. As competitive as the job market currently is, there is almost no time for delays in the interview process. If you’ve found the right one, DON’T DRAG YOUR FEET! If they are truly talented, they’re getting approached by companies on a regular basis. Don’t delay your hiring decisions, a competitor will take your ideal candidate(s).
Here are a few tips from our hiring managers that we published in our September 2021 newsletter:
1. Set clear expectations
Is your interview team ready? Are they prepared to impress a star candidate? Do you have clear expectations for each person’s role in the interview, what questions they need to ask, what information needs to be communicated? After all this, are there clear expectations regarding the interview timeline and when they can expect to hear feedback?
2. Make a good first impression
For a top candidate – who is talking to multiple companies – the client who has a smooth, seamless, and upbeat interview process will make the best impression. That’s often a difference maker. Put your best foot forward, sell your company, sell the opportunity, and let people know it! Your competitors are already out in the marketplace making connections, building recognition and selling their company to top performers.
3. Transparent communication
“There needs to be a focus on attentiveness and improved communications throughout every stage of the process is critical to ensure the candidate feels informed,” Indeed
said. “Being transparent, empathetic and authentic can go a long way in building more comfort and trust into your relationship with the candidate.”
4. Close the deal!
If it’s a great candidate, move quickly, don’t let them get away (and don’t give them time to go interview with your competitors).
“My greatest frustration in this business is seeing a good client miss out on hiring the very best person because of missteps in the interview process.” Bruce Whitaker, President of The Whitaker Companies
Want to know more about how we are helping our client companies attract and retain their top IT and Engineering talent? Let’s schedule a brief call so you can learn more about how we can help you achieve your staffing goals quickly and efficiently.