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Don’t Let Top Talent Slip Away: How to Seal the Deal During Talent Acquisition

  • The demand for top talent in the tech industry is on the rise by 20%.
  • To attract and retain top talent, companies need to streamline and simplify their recruitment process.
  • 46% of candidates lose interest if they do not receive a response within a week or two of the interviews.
  • Quick and informed decision-making is crucial in order to retain top talent.
  • To improve the recruitment process, companies should focus on:

  • Improving candidate engagement and experience
  • Communicating regularly and transparently with candidates
  • Automating repetitive tasks to speed up the process
  • Actively seeking and responding to candidate feedback
  • Identifying the best-fit candidates for the role
  • A prolonged hiring process can be a deal breaker for top talent.  

    Candidates won’t wait months for an offer, especially when other opportunities are available. 

    23% of applicants lose interest if they do not receive a response within a week of the interview. This figure climbs to 46% after two weeks of no response.  

    During this time, 39% of applicants would go on to find other jobs, and 18% might stay back but will question the company’s ability to make decisions.  

    Employers need to work on their recruitment strategies, from increasing transparency to automating repetitive tasks and monitoring candidate engagement. 

    Don’t let your slow process cause valuable candidates to withdraw from the interview process. 

    Learn how to streamline and simplify your talent acquisition to attract and retain the best talent. 

    1. Track and Monitor Candidate Engagement 

    More than 80% of applicants state that a negative experience can influence their decision even at the last minute. 

    By monitoring how long candidates take to respond to your communications, how often they visit your career website, and how they interact with your recruitment team, you can address potential issues that may be causing candidates to lose interest. 

    Various tools and technologies, such as ATS and analytics software, can help you track and monitor candidate engagement.  

    Identifying these issues early on can help you take steps to address them and improve the candidate’s experience. 

    In addition, this information can help you tailor your hiring process and communications to the needs and preferences of candidates. 

    2. Communicate Regularly and Transparently 

    Regular and transparent communication helps build trust and positive relationships with candidates. Data Suggests 84% of candidates want to hear from employers at least once a week during the recruitment process. It also helps to ensure that candidates are aware of the recruitment process, which can help reduce frustration and uncertainty. 

    In case of any delay or change in the process, communicate it to the candidate with an explanation. This will help them understand the situation and not lose interest. 

    3. Automate Repetitive Tasks 

    57% of job seekers consider the long wait after an interview to be the most frustrating part of the job search. 

    Automating repetitive tasks can help you move candidates through the process more quickly. There are several tools to automate repetitive tasks in the talent acquisition process, such as: 

    • Applicant Tracking Systems (ATS) to manage resumes, applications, and candidate information in one place. 
    • Automated Resume screening tools to quickly identify qualified candidates based on specific criteria. 
    • Scheduling Tools to automatically schedule interviews and send reminders to candidates and interviewers. 
    • Automated reference and background check systems to streamline the vetting process. 
    • Chatbots to answer common questions from candidates and provide information about the company and open positions. 

    Automating these tasks can help you to focus on more important and strategic recruitment activities, such as building relationships with candidates and evaluating their skills. 

    4. Act on Candidate Feedback 

    91% of candidates say they would appreciate feedback from the employer, regardless of whether they got the job. 

    By actively seeking, responding, and acting on candidate feedback, you can improve the candidate experience, increase the quality of hires, and build a positive reputation as an employer. 

    Here are some points to keep in mind when responding to candidate feedback: 

    • Gather feedback early and proactively from multiple stages of the recruitment process. 
    • Respond and act on feedback promptly. 
    • Use feedback to improve the recruitment process. 
    • Communicate changes made to candidates. 
    • Track progress to ensure the desired impact and identify persistent issues. 

    5. Predict the Best Fit Candidate 

    Identify the best-fit candidates by analyzing data from resumes, interviews, and other sources to make more informed hiring decisions and reduce the risk of losing valuable candidates. 

    AI-based SaaS solutions like Draup allow you to shortlist desirable profiles and learn more about candidates’ skills, education, and background. This way, you can easily and quickly find candidates and add them to your projects. 

    Draup for Talent delivers targeted insights into the talent ecosystem to help you identify the ideal candidate for your business requirement. 

    It gives a 360-degree view of the global talent ecosystem, talent trends, and specific insights, thereby enhancing the candidate experience and streamlining the recruitment process.