Urbanhire Jobseeker

How Do Big Companies Hire?

2

Aug 2017

Urbanhire has thousands of businesses hiring on the platform including many large corporates with annual plans like BPJS Kesehatan, MPM, Elnusa, Kompas Group, Biznet, and many other leading companies.

In servicing these companies, we consistently observe the same best practices and thinking:

1. The best companies use an applicant tracking system that publishes jobs to their own corporate website or career site.

Some companies use SaaS-based solutions like Urbanhire, and others use home-grown systems. Regardless the platform, established brands prefer candidates who have spent time understanding their companies better. This way, they can simply point job seekers to the company’s website in all of their recruitment sourcing campaigns.

2. They understand applicants come in through many different channels from employee referrals to social media, or through many portal sites.

Some technology companies have internal referral rates of over 80 percent. Getting and managing referrals from your own staff cannot be underestimated. They also take advantage of many different channels (social media, media portals, universities, career fairs) and not just 2-3 job portals. They boost their candidates amount using relevant premium advertising or career fairs.

3. They build their resume database over time.

Big companies understand that posting the jobs when the position is vacant is already too late. Recruitment is a strategic advantage for them and they prefer to build a pool of candidates they can choose over time. How? They do so by letting their job post run over months or through the year.

4. Their recruiters sift through and auto-disqualify resumes quickly.

They spend time in understanding clearly who they are looking for and they set up pre-qualification questions specific to the job. Some even incorporate the STAR METHOD into their pre-assessment questions listed in their application form. Recruiters generally spend a very short amount of time on most candidates — one study pegged it at six seconds.

5. Once the recruiters and hiring managers sift through candidates, there’s a screening process.

They’ll sometimes phone screen up to 20 candidates to make sure they a) can do the job and b) are an initial culture fit. There’s generally at least one recruiter call and two other screens, usually by the hiring manager and a team member.

6. They’ll usually whittle it down to about 5 candidates they bring in for in person interviews.

Depending on the company, they range from 4 to 8 one-hour interviews, after which they do a retrospective of how the candidates did. By the time the candidate is at this stage, it’s less about qualifications and more about culture fit. Bloomberg LP is known to have up to 7 interviews to ensure culture fit. Again they use an Applicant Tracking System to monitor the evaluations from different parties.

7. The smart companies present their offer quickly after this process.

Some companies have seen a significant drop-off of rejected offers by acting really fast. These companies knew exactly who they were looking for and the compensation scheme they have in the company for them. Offer quick and reduce rejection rate.

We believe SMEs should learn from big companies who have mastered the art of leveraging recruitment as their competitive advantage. We hope this helps your own practice. Have a great week ahead!

 

Benson
CEO, Urbanhire
@bensonengelbert