With the world at a standstill and most of us on lockdown, many are left feeling scared. These feelings are primarily for our safety and the safety of those we love, but also for the future of our businesses. COVID-19 has brought many organizations to a halt, as businesses explore how to keep operations running and continue the momentum wherever possible.
Prior to the beginning of 2020, I saw one of the hottest job markets that I’ve ever seen. Candidates would tell me, “I currently have 3 offers on the table.” Beyond this, many that were junior in their career were making base salaries that were extremely high.
Clearly, this was great for candidates, however, it wasn’t as positive for the companies making hires. This presents challenges and lots of competition for most organizations unless of course, you’re a big Fortune 1000 company with very deep pockets. This scenario resulted in bidding wars for businesses hoping to retain top talent, which is stressful and resource intensive.
Due to the uncertainty of our current reality, all of this has come to a screeching halt. Despite the challenges that we find ourselves dealing with, now is a good time to interview candidates. Here are the top 5 reasons why now is an ideal time for this:
Something that I hear all of the time from companies in the midst of hiring is that they don’t have the time to interview. This lack of time is a completely justified result of near-constant travel, trying to close a big deal, or focusing on a time-sensitive project.
Unfortunately, at this moment, many of these time-consuming items are not taking place or are reduced in scale. Now you have the time, so do what you can to make the most of it.
Similarly, all candidates are currently working from home and some are unemployed. Therefore, it is relatively easy for these individuals to jump on the phone or a video call. This freedom is not only a result of their lack of workload but also because they’re at home which provides a lot of freedom as opposed to working in the office.
It’s simple supply and demand. Before this pandemic, candidates had a lot of companies contacting them. This plethora of incoming offers led to candidates asking for big compensation packages. The sudden reduction in calls and offers will inspire many to remain more flexible.
Even the most talented candidates must have concerns about the stability of their current company. Use this time to get in front of receptive candidates in a way that your competition is not.
Now is the ideal time to INTERVIEW candidates (notice that I didn’t say HIRE).
It is a good time to speak with talented candidates and let them know that, “Until we have more clarity around what’s going on in the world, we’re not going to hire. However, as soon as we have clarity, we plan to pull the trigger.”
This is an effective method, as once things settle and we return to normalcy, you can either make them an offer or they’ll already be 80% through the interview process. What this means is that you are positioning yourself ahead of potential competition. While other companies are starting to reach out, you’ll be giving talented candidates an offer.
Technology can help guide the interview process, as it offers all the solutions that you might need. While working through this lockdown or quarantine, we can still have phone calls, video calls, and utilize eLearning software. For example, Lessonly offers a great platform that allows for the design of your own eLearning solutions at a very reasonable price. Technology puts the power in your hands to conduct interviews and work through this process in a way that makes sense for you and any potential candidates.
There is no way to underplay the severity of our current situation due to COVID-19. It is stressful, harmful, and worrying to say the least. Despite the challenges that are presented, we can still figure out where progress can be made and do our best to take action. Interviewing candidates is one of these areas that present an opportunity when viewed in the right light.