The dangers of one stage interview processes

For recruiters, recruitment processes with just one stage of interviewing can be very appealing. Less time spent arranging interviews, and generally a quick process to manage with fewer decision makers for the applicant to please/upset. In most cases however, this is a false economy.

It may be convenient for an employer to reduce the time spent interviewing during busy periods or for urgent hiring requirements, and in some instances, such as when it’s for an interim assignment it’s also convenient and anticipated by the potential employee. But in other cases, these one stage processes often do not provide the opportunity for potential candidates to build up enough of a connection to the employer or hiring manager.

Recent recruitment industry surveys in the UK have shown that whilst demand for staff is on the increase, the availability of candidates is decreasing, which inevitably means that jobseekers who are actively interviewing will have more options to consider. Whilst on the one hand it’s important to move quickly in order to secure high calibre candidates, if the focus is all on speed of hire, the candidate engagement process will be compromised, which could lead to offers being rejected as candidates join competitor businesses.

For the instances when time is at a premium, adding in a 15 minute telephone interview to the recruitment process can make all the difference, even if only for the preferred applicant. It adds another layer of selection in to the process, giving the candidate confidence that they’re being selected on merit, not just availability, and crucially it allows them time to reflect on the opportunity after their first meeting, so they can follow up with any questions or raise any potential concerns they might have. The chances of them accepting any offer would undoubtedly increase and potentially save the employer having to go back to the drawing board.

Do you agree, or you do feel one interview should be sufficient to identify and attract the right candidate to your business? Please add your thoughts below. 

Financial Recruitment Continues to Make Gains (Guest Blog)

A guest blog from James McCaffrey - with a number of years of accounting experience, James now focusses on recruitment and the financial jobs market, writing for Total Jobs.

As recently documented in the latest edition of Balance Recruitment’s Quarterly Update, financial recruitment is continuing to make gains. The latest update also pointed out that there had been an increase in the number of vacancies in the financial sector, coinciding with a demand for more staff – especially those with backgrounds as Analysts or within Billing, Revenue, and financial reporting.

In a recent Google Hangout for Total Jobs, Tom Newcombe, a leading journalist for HR magazine also agreed that growth was taking place in the financial sector, pointing to figures from PWC which highlighted that by 2020, there could be an additional 200,000 financial jobs vacancies which could contribute to a 3% growth in GDP- but only if the financial sector can improve regulation.

These figures hold relevance for the wider financial industry too, as the recession has forced businesses to increase their focus on due diligence, accuracy and transparency- and in recognising the importance of sufficient monitoring; the financial sector, and indeed the financial departments across all industries have made a demonstrable commitment to tidying up processes across the board. It’s this commitment that is reflected not only in the increased number of vacancies, but also in the roles that are currently high in demand. In the same session, Jane Clarke, Head of Campus Recruitment at Barclays Bank, also noted that over the next year, the biggest intake of new graduates would be in the fields of compliance and legal capabilities, roles centred on analysis, monitoring and managing processes efficiently.

There have long been calls for more transparency in business, especially when it comes to balancing the books and reporting on performance – now that more businesses are making a commitment to delivering on transparency, they are starting to recognise the vital importance of hiring teams of skilled people who can deliver the processes, monitoring and accurate reporting that will go into making sure that finances are in order and that balance sheets add up.

When businesses can present themselves to the public, stakeholders and potential investors, as well as potential staff that they are committed to honesty and thorough processes, it helps to boost the reputation of company, making it more attractive for business opportunities and skilled jobseekers – the figures reflect the truism that investing more in staff makes sense for all areas of business. Jane also pointed out that graduates who had been studying during the worst phases of the recession were keen to ensure that they found work in companies that were seen to have honest practices – in as much as companies of all sizes have re-evaluated their recruiting criteria since the worst days of the crisis, jobseekers are also showing a desire to work for a company which has a will to organise its finances and processes too.