Hiring the best talent can be challenging, and keeping them within your firm is an even greater challenge. It is essential for firms to understand the common obstacles of the hiring process and why the best talent won’t stay with them.
Obstacles can already be present during the recruitment process, spending between 15% to 25% of an employee’s annual salary to fill the position. In other words, if a business is looking to hire for a role with an annual wage of up to $100,000, the recruitment expenses could reach $25,000. This is a non-negligible cost, especially when we know that over 50% of employees are likely to leave the company within the year.
Therefore, it becomes indispensable to identify and review the main obstacles to hiring and retaining talent in your firm.
The recruitment process takes too long
An ineffective recruitment process can be a huge deterrent when attracting and hiring the best talent. A long and tedious recruitment process can cause candidates to become frustrated and disinterested. If the recruitment process is overly long and unstructured, it will likely lead to candidates losing interest or completely dropping out of the process.
Additionally, an ineffective recruitment process can make it harder for employers to keep track of applicants. Candidates may drop out of the process at any time, making it difficult to know where they are in the process. This lack of visibility can lead to frustration on both sides and make it harder to assess which candidates are the best fit for the role.
To ensure the recruitment process is effective and efficient, employers should focus on collecting the right data throughout the process and offering a positive experience to candidates.
The workplace fails to avoid discrimination issues
Discrimination in the workplace can take many forms and has been a persistent problem throughout history. Even in today’s increasingly open and diverse workforce, companies often fail to address discriminatory practices adequately. This not only creates a negative environment for employees but also makes it difficult to recruit and retain the best talent.
Fortunately, there are measures that can be taken to help ensure that the workplace is free from discrimination. One of the most important steps companies can take is to keep their employment manuals and best practices up-to-date. This includes working with labor law professionals such as Bingaman Hess to set clear policies that describe and prohibit discrimination. It’s also important to ensure that all employees are aware of these policies and that they are actively enforced.
The recruitment process is biased
Unconscious bias can creep into the recruitment process in a variety of ways, from how employers source candidates to how they evaluate resumes. Research suggests that people tend to hire based on their own experiences and preferences rather than objectively evaluating candidates.
This type of bias can lead to a lack of diversity in hiring and perpetuate stereotypes. Bias can be detrimental to the recruitment process as it fails to capture the full talent pool and prevents employers from making informed decisions about the best candidate for the job.
High turnover rates are common in organizations where bias is present, as employees may become disgruntled with the lack of diversity and may not feel respected or appreciated in their roles.
Of course, many more issues could contribute to difficulties in finding and retaining talent. However, a problematic recruitment process and harmful bias and discrimination throughout the hiring and employment journeys need to be your top priorities.