Strong job numbers continue to beat expectations in 2023, with 339,000 jobs added in May. Yet 41% of small business owners say they are having trouble finding talent to fill open roles. The biggest struggle – balancing rapid hiring with finding qualified candidates that want to be there for the long haul and growth of the business. So how can growing small businesses hire these people in a competitive market?
It’s all about creating a thoughtful, structured, and scalable hiring process before you need the role.
Brian Nephew, a Wizehire partner and the Head of Coaching at Signal Advisors, says that it’s vitally important for a small business to have a structured, scalable hiring process, “Small businesses need a thoughtful and structured hiring process because they cannot afford to miss on a hire. The financial and energy costs of hiring are far greater as a percentage of their overall budget than larger firms.”
Here’s what we’ll cover:
- Why you need a good hiring process in today’s market
- 6 steps to build a scalable hiring process
- How to get the best hiring practices on day one with the right solution
Why should growing businesses have a hiring process?
It’s critical to your growth. A well-planned hiring process is essential for small businesses to find the right talent that can help you achieve your goals. Each employee is an investment in the future of your company.
Not having one can result in bad outcomes. Without a structure you risk wasting time and resources on hiring the wrong people. This translates to high turnover rates and lower productivity. Not having a clear process can result in a lack of consistency and fairness, leading to legal issues and reputational damage.
You can repeat success. You can identify the skills and attributes that are essential for success within your company. A structured hiring process can also create a positive candidate experience, which can enhance your reputation and make it easier to attract top talent in the future.
Ensure you make the best hiring decisions. While it may require some upfront investment in time and resources, the benefits of having a structured approach to hiring far outweigh the risks of not having one.
Chad Nieswand, Senior Recruiter at Signal Advisors, also notes that a structured hiring process removes bias from your hiring, “Structuring a process will bring every candidate through the same process with the same questions, where you have an immense focus on data and objective answers, using past experience to predict future success.”
6 steps to build a scalable hiring process
Your hiring and interviewing process doesn’t have to be hard. Approach it with a go slow to go fast mindset. Spend time thoughtfully laying out your steps to move fast on quality candidates.
- Clearly define the job role and requirements. Is that certification, 7 years of experience, and college degree a must have or a nice to have? To attract the right candidates you need to define your employer value proposition, open role, and requirements. Then create an accurate and compelling job post tailored for your ideal candidate.
- Make applying easy. SHRM says 92% of people don’t complete job applications. A complicated application process can deter qualified candidates from applying. Create mobile friendly, easy to apply applications to increase candidate applicant volume.
- Prescreen to save time. Spend quality time with candidates that meet your skill and culture requirements. Tools like skill tests and personality assessments help you quickly surface top talent.
- Create templates for every decision. Be proactive instead of reactive. Your email invite for a phone screen, next round interview, skill assessment, and empathetic candidate rejection letter – should all be ready to send before you start hiring.
- Run equitable interviews. You can’t have a structured interview with one candidate and then have a free-flowing dialogue about baseball with another. Interviews should assess every candidate’s fit with your company culture and job requirements.
- Onboard new hires the right way. First impressions matter and you want it to be a positive one. Ensure they have a smooth transition into the company with a solid onboarding process. Here’s a comprehensive onboarding checklist to follow.
The benefits of having a hiring process mapped out
From your phone screen to job offer, having a process laid out leads to:
- Faster follow-up time with candidates
- Not worrying about missing steps or making it up as you go
- Winning more candidates by delivering a great experience
- Ensuring you’re getting to the ground truth on who can be successful
Signal Advisors has had incredible success using a structured hiring process, “Since implementing a structured hiring process with our internal teams at Signal, our small team has hired nearly 100 team members in the last 2 years and has seen an increase in retention, understanding of our unique environment, and we’ve identified better overall culture adds aligned with our mission. This has added more diverse perspectives, skillsets, and experiences to better our team,” says Nieswand.
Wizehire’s best-in-class technology, integrations, and tools helps you stay organized and agile. Our team of coaches are fluent in your industry and by your side every step of the way.
Change the way you hire for good, start building your scalable hiring process today with us!