Sometimes recruiting new employees can seem like a never-ending cycle of job postings, resume screenings, interviews, and hiring decisions. What if there was a way to skip the first two steps and jump straight to a one-on-one chat with a prequalified candidate?
Every round of recruitment ends up with “silver medalists” – the almost perfect applicants who didn’t quite make the cut against your chosen candidate. If the gap between the newly-hired and the almost-hired was a mere sliver, why not go back to the well when you need another prospect? Revisiting the pool of previous job applicants is called candidate rediscovery, and it could significantly cut your time to hire.
Here are five reasons you should consider using ATS rediscovery when filling new vacancies:
1. Faster Candidate Sourcing
Posting a job only takes a few minutes per platform, but going through resumes can take days or weeks – even though the average resume only gets 6 seconds of review before being sorted into a yea or nay pile.
By using candidate rediscovery, you can rapidly surface your previous silver medalists and invite them back in for a catch-up interview. An offer can be made rapidly and the gap in your company filled. This can be dually effective if the former applicant is a prime candidate for upskilling on the job.
2. Greater Candidate Goodwill
If you communicated well with previous applicants and took the time to touch base with them instead of sending a canned email, they may be more receptive to a new advance. If you were honest about their position as a great second choice and left the door open for the possibility of a similar opening in your organization in the future, it may not take much to get them back in the door.
Talent is four times as likely to consider a job offer from a company that provided constructive feedback and was able to make rejection sting as little as possible. By keeping your word, you build a level of loyalty and trust that is hard to replicate in a freshly recruited new hire, and they’ll be eager to grow and learn in a position at your organization.
3. Closer Candidate Matches
If job applications have already been filtered through your ATS, you’ve weeded out the chaff and narrowed the field. Revisiting these resumes can allow a candidate previously passed over to jump into your line of vision in a new way. You may see a qualification you overlooked since it was phrased awkwardly, or you might recognize their potential for upskilling rapidly once hired.
Since “silver medalist” candidates have already completed the majority of the application process, resurfacing these candidates for active consideration can have multiple benefits. They may have added new requisite skills to their portfolio and gained more experience since last you spoke. Revisiting the candidates could lead to a quick job offer, leading to a significant reduction in time per hire and cost per hire.
4. Rediscovered Candidate Quality
In 2010, Google ran an experiment to test its recruitment practices. As part of the Google Hire ReVisit Program, they sifted through 10,000 previously submitted resumes looking for specific keywords to identify skills. The company ended up hiring 150 software engineers without having to source additional candidates. A decade later, more than 700 out of 800 employers in one survey say they have extended job offers to candidates they had previously passed over.
5. Back-Up Candidates On Tap
Nearly half of new hires are no longer with a company within 18 months. Being able to quickly assemble a shortlist of prequalified candidates can significantly reduce the time required to replace those employees, and reduce their negative financial impact on your organization. If you’re still missing a skill, review each potential hire’s skills closely to see who would be a good choice for an upskilling program within your organization.
How Censia Can Help You Leverage Silver Medalist Candidates
The Censia Talent Intelligence Platform can swiftly review your needs and build an Ideal Candidate Model. Once key attributes and skills are identified, they can be sorted in order of importance.
The resulting model can then be used to select and score previous applicants within your ATS to surface high-value candidates that may have been undervalued. Sometimes the best talent may have been right under your nose only a month or two ago. These past applicants can also be compared against employees inside your organization and passive or active members of the outside talent pool to ensure you call only the best of the best in for a new interview.
Previous candidates with a strong grasp on skills at the top of the list, but gaps near the bottom, can be readily trained on the job, upskilling them to create your perfect employee. You can increase your time to hire by up to 60%, and gain a loyal employee who will be easy to retain.