At this point in the hiring process, you should already have a position description with clear requirements outlined, a set of objectives for the position, and a measuring stick for screening candidates.
You may have potential candidates in hand from a number of sources – an internal candidate, a referral from someone in your organization, and several candidates from a recruiter.
In order to initially rank the candidates there are 3 questions you need to ask:
1. Does the candidate have the required experience and/or do they meet some of the desired requirements? If a candidate falls outside of the qualifications and you still want to talk to them, understand that the candidate will require more questioning in the interview process.
2. Does the candidate have quantifiable accomplishments that can make you comfortable that they could achieve the objectives you have determined for the position? Have they grown a portfolio? Have they run a loan department? If that information is not readily available, you need to ensure that you note the questions for the interview process to capture quantifiable results.
3. How much do you know about the candidate? Is the candidate known to you, referred to you by someone you respect, or is he/she a cold candidate? It is always better to have a candidate that has a reference point, but even if the candidate comes highly referred to you, it is critical to review their experience to ensure that they meet your requirements. If the candidate is coming to you cold, you need to be especially diligent in the screening process.
After conducting the three steps above, you should be able to rank the list of candidates.
The next step is to understand each candidate’s current situation and their motivators. What is the situation at their current organization? Are they likely to want to move to your organization? Are they underpaid? Are they stuck in a position with little chance for promotion in their current job? Understanding this should be part of the conversation in the interview process.
Next month, my post will dig deeper into tactics that can be used to make the interviews as productive as possible, resulting in the ability to make a good decision about each candidate’s readiness for the position.