Where's the spark? Candidate relationships an increasingly important part of the hiring process

A gig economy, coupled with hybrid work arrangements and the Great Resignation fuelled by COVID are giving employers real hiring headaches. A new report from GoodTime, “Hiring Insights Report,” shows that businesses are struggling with hiring new employees and are facing a lack of qualified candidates due to supply/demand gaps.

Related: Expanding and de-risking the hiring process can help organizations address labor shortages

After surveying 560 HR, talent and recruiting professionals around the country, GoodTime discovered:

• 50% of hiring goals were not met in 2021
• 60% surveyed said the time-to-hire increased in the past 12 months
• 46% surveyed said the No.1 hiring goal in 2022 is to create genuine relationships with candidates – which includes scheduling flexibility and demonstration of the company’s culture, mission and values
• 36% said they consider improving candidate relationships a priority but struggle to execute
• 31% said they made diversity, equity, inclusion and belonging (DEIB) a measurable priority in the past 12 months

Interestingly, there’s some disagreement on whether the hiring landscape has become more or less competitive, with CHROs perceiving the influx of workers who have recently quit their jobs contributing to a less-competitive talent pool.

Talent pool aside, talent managers expect to see creating meaningful candidate relationships take on greater importance in the next 12 months. The report identified four keys to success:

1. Genuine connection with the company’s core values, mission, and culture, including DEI strategy
2. Transparency and open communication between employers and employees
3. Adaptability and flexibility in the hiring process
4. Candidate wellbeing, including mental health support and other wellness benefits

Hiring managers and HR teams would do well to heed the recommendations and update their hiring processes; according to GoodTime, more than a third of recruiting teams’ time is currently spent on scheduling interviews, with the average time-to-hire at three weeks.

“Winning the war for talent moves beyond the one-sided, staged candidate experience to the two-way, genuine candidate relationship. Companies that take a human-centered approach to talent acquisition are two times more likely to achieve financial goals,” said Ahryun Moon, CEO & Co-Founder, GoodTime. “The report findings clearly show that winning talent through outdated methods like free lunches and ping pong tables are over. Companies need to put more emphasis on cultivating the candidate relationship if they want to create impactful hires in today’s Distance Economy.”

Read more: 

• 2022 will be a big year for workplace agility and innovation
• Attracting new grads in an unprecedented candidate’s market
• Hiring during the Great Resignation: It’s okay to think outside the box