Is Your Hiring Process Meeting the Demands of The Market

We are now about two years removed from the height of the pandemic. Recession fears have subsided a bit, the inflation rate is showing signs of easing, and consumers for the most part remain optimistic about the economy as a whole. If you are a financial institution, the continued rising rate environment should still give you pause, though, as the Fed has signaled that they are not finished with raising rates.

Undoubtably, the current economic conditions may force financial institutions to curb their hiring initiatives for certain lines of business. Understandable. But for those lines of business that continue to have strategic hiring initiatives, it’s important to understand that the talent market remains extremely competitive and talented people have options. As a result, the more efficient and streamlined your hiring process is, the better position you will be in to land your #1 candidate.

Zoom and Microsoft Teams have created additional efficiencies that can accelerate and make the interview process more convenient for both parties. Take advantage of these enhancements to stay ahead of your competition. Many organizations value input from other line of business leaders but aligning schedules can be challenging. But don’t let that get in the way of conducting an efficient and streamlined interview process. A protracted or slow vetting process can send a mixed message to prospective candidates whereby they may lose interest and choose to pursue other opportunities that are moving at a pace that is more to their liking. Make the coordination of schedules a priority to match everyone’s sense of urgency. Don’t cut corners in your vetting process, just understand the nature of the competitive market for good, talented people. If your organization is aligned with these goals, the odds of landing your top candidate increases dramatically.