HR & RecruitingInsight

3 ways to win candidates over your competitors

4-minute read

Across Innovation, Design & Strategy, companies are popping up everywhere and are hungry to grow. With talent in high demand, the competition between businesses in the industry is big. So, how can you stand out amongst your competitors to ensure that you get the right people?

Speed

When recruiting for “in-demand” talent, it is important vital that you prioritise and respect the process, acting quickly and with confidence. Dragging out the process can leave strong talent disinterested and all too often we see great businesses lose out to competitors as candidates drop out to take other offers.

We would advise going for a balanced, steady process that keeps up momentum – particularly as you get towards the latter stages. More than that, make sure that you stick to this structure. We have noticed businesses extending their interview processes, or adding in more stages as they try to take fewer risks and attempt to assess candidates to a greater degree. Although it’s important to make sure that you are making smart hiring decisions, unnecessarily long processes can leave candidates disillusioned. Bare in mind that this process is a candidate’s first interaction with your company – it’s a first impression.

Offer

It is not unusual to see difficulties arise at the final stage, and to see potential employees reject offers. Why? Because, often, very little focus or planning has been considered here as businesses assume it is a given that candidates will accept. To avoid this, don’t neglect it. In preparing to extend an offer, think about the information you need – what does the candidate want and what are their motivations to be seeking a new role? Transparency is key, too – don’t undercut, keep the offer competitive and make sure to offer what you think is fair based on all the information you have. Then, make sure that you do it in the right way – don’t offer the role over email, offer it in-person or over the phone. We have known clients even take candidates out to lunch to offer them the role so it can make it really special. Finally, speed is crucial. If you are ready to make an offer, then do it. Delay here can be the fine line between a great person joining your business or going to a competitor.

Communication

This goes a long way in making sure candidates are in-touch with you over the process.  If they are considering other opportunities then make sure you’re staying in touch with them. If difficulties come up which means that you have no choice but to delay or extend the process, then make sure to let them know why and to reassure them that you are still interested. Speed and a very good offer are great but, without effective communication, candidates can often feel lost or distanced from the process and company, which will ultimately play into their final decision.

Alex
I’m a Founding Partner of Bamboo Crowd. I help our clients invest better in people and scale through Engine. I solve recruitment challenges and help our clients source the best talent across operations, business development, programme management, and technology. Ask me about good films, beards and hip hop.