From Applicant to Employee: The Evolution of Hiring Processes
Let’s face it—the process of sourcing talents really changes over time. From an employer-centric perspective where the company’s requirements are met, there was a turn towards catering to the needs of the potential candidate in order to lure them into signing to the company.
A lot of factors can be attributed towards this. For one, there’s the rising costs of living. Even the most bashful Filipinos nowadays would make income their primordial consideration in applying for a job, as opposed to the previous decades where proving oneself worthy comes first than the salary. Then, there’s the mentality shift. Most of the good candidates are now considering companies that would give them chances to grow and enjoy their personal lives. They usually gauge this from reading employee reviews and, surprisingly, from their impression of the company during the interview phase.
Because of these changes, a self-reflection on your current application procedures is important: is your hiring process at par with what potential candidates are looking for? To answer this, a recent survey conducted by Lighthouse Research and Advisory shows the top candidate priorities between the years 2023 and 2024. According to the study, the top three candidate priorities for the current year are the following:
Starting rate. Understanding hourly rates is crucial since aside from the usual cost of living and overhead expenses, candidates now factor in the current market demand and their skill level in figuring out a starting rate that works for them.
A smooth and easy application process. The application process can significantly impact your ability to attract qualified candidates and maintain a positive employer brand. A simple email post-interview goes a long way.
Career growth. Offering chances for career growth is essential for attracting and retaining top talent, fostering employee engagement, and ensuring the long-term success of your company. A commitment to supporting employees' professional development not only benefits individual employees but also contributes to a positive company culture and a competitive edge in the marketplace.
With these in mind, it is high time for companies to realize that the hiring process does not only lead towards the fulfillment of the current vacancies; it also becomes the key role in engaging the future stakeholders of the company which would help gear it towards their success. Keeping a steady eye on the evolution of hiring processes helps the company in the long run, and there is no harm in tweaking it every now and then to cater to the current demands of the applicant market.
