They are the enemies of every recruiter: turndowns and falloffs. And they’re on the rise everywhere. I hear about them frequently from other recruiters and agency owners:
“I had three offers not accepted last month!”
“My candidate took the job, then resigned a week later due to a delayed counter offer!”
“In the middle of the hiring process, my perfect candidate started ghosting me and I have not heard from her in over a week”
We’ve all been there. We’re often left scratching our heads asking… ―How could this happen? Here is why it’s happening at record levels RIGHT NOW.
- There is 10.9 Million more jobs than people- BLS report - July 2021
- Global Hiring Intentions up 4th Quarter – 23%(Manpower) versus 3rd Quarter 2021
- 59% Companies expect to Add to Payroll (Manpower) 2021
- 69% report difficulty filling vacancies – 15 year high 2021(Manpower)
- Unemployment rate – 5.2%, 3.1% College or higher (2.8% Seasonally adjusted) BLS – Table A-4
The demand for talent has increased substantially over the last 6 months. And they know it. Top talent can afford to be picky about their teams. Adding to the mix is the growing commitment employers have to protecting and retaining their best employees. Hiring managers know how difficult (and expensive) it is to find and train replacements for top performers, so they’re willing to do whatever it takes to keep them. It’s a tough market for recruiters, and it’s getting harder and harder to shake loose firmly embedded talent from their comfortable positions.
We make it harder on ourselves, too. Most turndowns and falloffs happen thanks to our own professional carelessness. Let’s face it: recruiters aren’t perfect. No matter how professional or experienced we are, we sometimes miss critical steps in the process. Things fall through the cracks. And when we take shortcuts in the placement process—simple mistakes like failing to cover the counter offer early and often, or not following up after a placement is made, increases the likelihood of a turndown or fall off dramatically.
STEP 1: Talk to your client about what is needed to be successful in bringing onboard top performers in this environment.
It all starts with getting your client onboard to be ready to compete for talent in this market. You are their business advisor, help them get ready to be successful by the following:
Explain The High Demand Low Supply Market we are in and the data above as well as ….Explain what the Current Market Conditions will NOT Tolerate:
a. Long Hiring Processes
b. Waiting to see more candidates versus making decsions5-7 Candidates, expect 2 to 3
Candidates Submitted
c. Not selling the Candidate on the Role and Company EVP
d. A Lack of Sense of Urgency
e. Under Pay based on Market Rates
f. A Non Priority by the Hiring Manager/Hiring Team
If your clients are not willing to make changes internally to compete for the talent in todays market, do you really want them as clients? By helping your clients get in shape to compete in the current market for talent it will be first step toward helping YOU stop turn downs and fall offs.
Learn more about SearchPath here>
Part 2 coming next month. Want to learn more about Jon Bartos?
