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How to Boost Your Candidate Retention Rate

It is no surprise that a company’s greatest asset is its workforce. Regardless of its size, every organization should have retention high on the priority list. The cost of losing an employee can be significant, both for the business and the individual. There are several ways to improve retention, but one of the most important is attracting and engaging candidates throughout the hiring process. In this article, we’ll explore some of the biggest barriers to candidate retention and what your business can do to avoid them.

Be clear on the type of candidate you want to hire

Before you start advertising for your position, it’s a good idea to be clear about the role you’re trying to fill and what the ideal candidate for that role looks like. Candidates can sense when they’re not a good fit for a position, and they’re more likely to leave if they don’t feel like they’re a good match. It’s important to be upfront about the role and what you’re looking for so that candidates aren’t wasting their time applying for positions that aren’t a good fit and so that your organization isn’t spending valuable time and resources on the wrong hire.

Write accurate job descriptions

Along with being clear about the role, it’s important to be accurate in your job descriptions. Job seekers are increasingly turning to the internet to research potential employers and if they see a job that sounds like a good fit, they’re going to want to learn more. If the job description is inaccurate or incomplete, it’s going to be difficult for candidates to assess whether they’re a good fit and they’re likely to move on. When writing a job description, make sure it’s simple, concise, and easy to read and make a list of the must-have requirements your potential candidate needs so that job seekers can accurately assess whether or not they’ll be a good fit for the role.

Make it easy to apply

When a candidate is interested in a job, the last thing they want to do is jump through hoops just to apply. Candidate experience should be a top priority for your organization and making it easy for candidates to apply for your job openings is one way to improve it. Difficult to find careers pages, unclear instructions, and a long application process will all contribute to low candidate retention rates. Instead, make it easy for candidates to find the information they need and make the application process as straightforward as possible.

Communicate throughout the hiring process

It’s a good idea to keep in touch with candidates throughout the hiring process to avoid losing them along the way. Communication ensures that job seekers are up to date with the latest developments and increases transparency, making it more likely that they’ll choose your organization when you extend an offer. Keep in regular contact with candidates, provide updates about the hiring process and stay connected via social media channels. It’s also a good idea to ask if they have any questions or concerns and proactively provide support when needed, which can go a long way toward improving candidate retention rates.

Follow up with them frequently

Keeping with the theme of communication, it’s important to follow up with candidates often and as early as possible in the hiring process. Numerous studies have found that candidates who don’t hear back after applying for a job will ultimately lose interest in the role. Therefore, it’s important to follow up with candidates as soon as you’ve decided about whether or not they’re moving on in the process and to let them know when they can expect to hear from you. Once the interview process is underway, you’ll likely receive thank you and follow-up emails from candidates. Taking the time to respond to these emails shows that you’re interested in the candidate and can go a long way toward increasing your retention rate.

Give and receive feedback

Candidates often appreciate getting information about their application so that they can learn from the experience and improve their chances of being successful in the future. Sending structured feedback to let them know what went well or where they could have improved is a great way to show you appreciate their time and effort and allows candidates to get additional feedback and insights into what you’re looking for in potential hires. At the same time, asking candidates for feedback on your hiring process can help you to identify areas where you can improve and in turn retain candidates throughout the recruitment process in the future.

Finding top talent can be tough, but by taking the time to focus on candidate retention, you can improve your chances of finding the perfect fit for your organization. By making it easy for candidates to apply, communicating throughout the process, and following up frequently, you can keep candidates interested and engaged until the very end. Allowing candidates to give your organization feedback can also provide valuable insight into your hiring process and help you to keep making improvements to further boost your candidate retention.

Need expert help? At Career Connections Canada we’re passionate about bringing great people and companies together. Contact us today to discuss your hiring needs.

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