Companies large and small will be impacted by the final version of the Tax Cuts and Jobs Act. Whether you’re a large company receiving tax cuts or a smaller business with increased deductions, you’ll have some form of ‘new’ cash this year.
No matter what your personal opinion is about the tax bill, it’s important medical sales recruiters look at it as an opportunity to grow their workforce.
But don’t go allocating everything at once. First, you need a clear idea of the most effective tools and strategies to spend your budget on.
Here’s how you can put that money toward your recruiting strategy:
1. Pre-interview screening
The formal interview process is extensive and expensive. When unqualified candidates end up in this process, medical sales recruiters end up draining money into an unproductive search.
Budget in an extra pre-interview screening step. This will help you better identify a candidate’s skills and sales experience beyond their resume without wasting time on a formal interview if they are not a great fit. Additionally, they’ll be equipped to have more detailed and productive interviews with candidates who make it through to the next step.
Prepare an online pre-interview screening that takes candidates between 20 and 30 minutes to complete. While you want to know more about potential employees, many won’t stick around for longer than 30 minutes.
Here are a few questions to get you started:
- Describe your sales style.
- What was your biggest sales challenge? How did you overcome it?
- Do you like working independently or on a team?
- What’s the biggest benefit/cultural factor you value in an employer?
2. Video interviews
You’ve found the perfect candidate. They have experience, a strong track record, determination, and passion for sales.
And you didn’t even get an interview with them because they live across the country.
Many medical sales recruiters lose qualified candidates — or never know they exist — due to location. By investing in a video interview platform, you’ll open your company up to a whole new array of candidates. Those who were once too far away to interview, can interact face-to-face without spending time and money travelling in person.
Video interviews are also the perfect opportunity to easily bring your team in for collaboration. With the ability to record and take notes in one location, busy sales schedules won’t hold you back from meeting with your team and quickly responding to eager candidates.
3. AI recruiting assistant
Investing in technology makes the recruiting process more personal.
This sounds incredibly backwards, but with new AI advancements, medical sales recruiters can frequently connect with candidates at every stage of the process. For example, Olivia, Paradox’s AI recruiting assistant, answers candidates’ questions in real-time, schedules interviews, and engages with candidates through the web, mobile platforms, or social channels. Additionally, she intelligently provides next steps and routes “green light” candidates right to recruiters.
Today’s candidates expect immediate responses and personal interaction. If you’re having trouble connecting with and responding to candidates in a timely manner, an assistant, like Olivia, will personalize your process and keep job seekers in your talent pool longer.
4. Predictive analytics
Unfortunately, you can’t get it right every time. Sometimes, a bad hire is made and it’s a costly mistake. That’s why 95 percent of HR pros say access to analytics that could predict candidates’ performance and on-the-job success would be helpful, according to an October 2017 report by Outmatch. However, only 35 percent say they’re using data and analytics to hire employees.
This disconnect between how you’re hiring and how you want to hire can easily be resolved. Use an increased budget to know exactly how to hire for quality, not quantity. The predictive analytics process actually begins by collecting early performance data on new hires. Then, it matches the data to assessments and creates a feedback loop.
As this loop grows, you’ll refine a profile showing you the exact traits of a successful candidate — leaving guesswork in the past.
How is the tax reform changing your recruiting strategy? Let us know!