There's nothing more satisfying than closing the perfect candidate. But getting from job posting to offer doesn't come easily. For each position, you've screened dozens, if not hundreds of applicants: research shows that 98% of job seekers are eliminated at the initial screening.(1) And it's taken time: according to Glassdoor Economic Research, the average time to hire is now 23.7 days - up from 22.9 days in 2014.(2) To top it off, you've spent money: the average cost-per-hire today rings in at over $4,000.(3)
Your Biggest Recruiting Challenge: Quality Candidates
It's no wonder recruiting is still a challenge despite all the advances in applicant tracking systems, job posting options, and company career portals. In a recent survey of 750 U.S. & UK hiring decision makers, we asked for the top recruiting challenges that face talent acquisition teams today (in the context of attracting informed candidates).
Top Recruiting Challenges (4)
- Quality of candidates
- Budget constraints
- Trouble competing with compensation and benefits packages at other firms
- Knowing where to advertise jobs to attract the right people
- Attracting millennials
Quality Candidates = Informed Candidates
If finding quality candidates is your number one challenge, it's worth the time and effort to define who they are and figure out the best ways to reach them.
Nine in ten (88%) hiring decision makers agree that an informed candidate is a quality candidate, so let's take a closer look at the characteristics and benefits of attracting and hiring informed candidates.
Who Is an Informed Candidate?
Definition: An informed candidate is one that is prepared, engaged, relevant and knowledgeable - is a quality candidate
Characteristics of Informed Candidates
Our survey proved that informed candidates are prepared, have the right experience, and understand the role and the company. They've done their homework, and they stand out in your initial screening all the way through the interview process.
Key Attributes of Informed Candidates (5)
- Prepared for interviews and ask pertinent questions
- Demonstrate right experience
- Knowledgeable about the role
- Knowledgeable of the organization's culture and values
- Prepared so that they have the right expectations about compensation and benefits
Informed Candidates Make Hiring More Efficient
Candidates who have done their homework on the company and understand the role make your hiring process easier, faster, and less expensive.
Top Benefits of Interviewing Informed Candidates (6)
- Improved candidate experience
- Reduced time to hire
- Improved hiring manager satisfaction
- Reduced number of interviews per candidate
- Reduced costs for sourcing and recruiting
While there's no doubt informed candidates are easier to screen and interview, what's the benefit of hiring them? Our survey revealed key reasons that impact your HR metrics.
Informed Candidates Make Better Employees
Higher retention rates, improved productivity, and increased employee engagement are some of the benefits of hiring informed candidates.
Top Benefits of Hiring Informed Candidates (7)
- Better employee retention
- More productive employees
- More engaged employees
- Better team players
- Improved employee experience
Now that you know what informed candidates are why you should look for them, learn how to target them in your recruiting efforts by downloading our new eBook, How to Recruit Informed Candidates at Scale. And watch our new video clip about what makes informed candidates great.