08 Dec Candidate engagement and expectation in Financial Services
These are the thoughts and takeaways from the latest Resourcing Think Tank held on Tuesday the 13th of October and hosted by Harrods’ Hannah Howe. This Think Tank sought to discuss the approaches to Candidate engagement and expectation in Financial Services.
The following summary has been prepared to reflect a segment of the discussion held amongst senior Talent Acquisition professionals from leading national and international businesses. Specific company details, experiences and examples have been omitted from this summary as all discussions are held under ‘Chatham House Rules’.
Building Candidate engagement has become an ever growing battle! With external resources now playing such a strong influential part in the candidates attraction and engagement with your company, how are you insuring that the right candidates are searching for you and that your company is being perceived effectively ?
At this Resourcing Think Tank we focused on how to attract and engage in the Financial Services sector. Below are 5 things to focus on that will help you attract and engage with your candidates.
External perception. This is where the journey should begin and end. Stepping away from the internal recruitment pressure to ‘hire the right talent’ and focus on how you are being perceived in the market, is the first step. In sectors such as Financial Services the perception or ‘stigma’ around the industry is already there. So knowing this will help you differentiate yourself from the common perception of this industry and will help you attract those engaged candidates.
How to Attract – A lot of well established companies think that just having the ‘brand’ is enough to bring in good candidates, this may have been the case about 5 years ago, however a good recruiter needs to be interacting with candidates even before they have applied for a job with the company. They need to be functioning as a marketer as well as a recruiter. Breaking away from the normal ‘social media’ attraction and trying something new might just lead to candidates ‘banging on your door’, for a change.
Ensuring the best experience for candidates – Every high level candidate that interacts with your company can be a promoter or a detractor. Making sure that every touch point with your company is perceived in a good light is extremely significant, because even if the person isn’t right for the job, they may know someone who is. Treating the candidates the way that you would like to be treated and showing them that they are valued will bring them back around in the future.
Managing expectations – Making sure that you are as transparent as possible will ensure that the candidates expectations are met. They will go into an interview feeling calm and confident that they are applying for the right job. All those strong candidates who end up not being hired are much more likely to remain interested in your company if their expectations are managed and reaffirmed. Showing consideration towards your candidates and their feelings can significantly enhance candidate engagement.
Finding success – Measuring success has gotten a lot easier from the ‘old school’ processes of just handing in your CV, with ATS systems tracking every candidate that applies for a job. As a recruiter you should now have the power to make every experience with the candidate a valuable one. Word of mouth is the biggest promoter and deterrent for any business, making sure you have that in the back of your mind every time you interact with candidates will grow your talent pool immensely. What you want to leave them with is a positive experience no matter the circumstance.
Engagement is half the battle! You can build your company up and have the best brand name out there, however if the journey or expectations are not met, you will still be unable to bring in the engaged candidates. So spend time thinking about how every person in your business is engaging with your customers, therefore you are presenting the company as a united front and will hopefully start to eliminate the “bad experience’ side of things and create a talent pool of engaged candidates that really know your business.
To find out more about the Think Tank Candidate engagement and expectation in Financial Services: