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Deal Cycle for Human Resources

Are you looking to streamline the deal cycle for Human Resources in your organization? airSlate SignNow offers a simple and efficient solution to manage all your HR document signing needs. With the help of airSlate SignNow, you can automate the entire process, saving time and resources along the way.

Deal cycle for Human Resources

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Hey friends, Josh, you're from HR University and this video I'll cover full life cycle of recruiting. And the concept and question is actually a specific type of recruiting, one that's very common with certain types of companies. And before we dive into it though, don't forget to like this video, of course, subscribe to our channel for more educational HR videos. So what is full lifecycle recruiting? In short, it encompasses an entire process of finding a new employee from recruiting to. The name doesn't refer so much to the process itself, but to the single person who plans, organizes and executes the process. This person is a full life cycle recruiter, someone who has to be good at evaluating applicants during all stages of the hiring process. This includes interviewing shortlisting and negotiating salaries too. From here, the recruiter is supposed to showcase a diverse skillset in handling the prospect. Of course they'll be expected to judge and we through all the applicants ing to the needs of the company, but they'll also have to be extremely well acquainted with the type of employee their company needs at that particular time. And timing is often everything. If you hire an employee. Three months too early, then they won't fit in right. And often they may just leave the company cuz they have a bad onboarding experience. Full lifecycle recruiting is often employed when a company is looking for long term permanent employees who will function as particular pillars for the business' success. So every little detail matters, every skill, education, experience, or experience point is essential to. And this is why a single recruiter who knows all candidates for the given position inside out can be very useful in getting the job done. But make no mistake here, the fact that full life cycle recruiting is useful doesn't mean that it's not extremely stressful or difficult to manage. Quite the contrary, actually, the process requires. A lot of knowledge in many different fields as well as a very keen eye for judging people. At the end of the day, ing to one study, 52% of the interviewed recruiters said that the entire process almost always lasts for more than three weeks. 18% of them said that it can take up to two months. And that's why in order to make it easier and more manageable for potential recruiters, this recruitment type is usually divided into six stages. And by going through each one of these, the recruiter will successfully carry out the entire process of hiring new employees without cracking under the pressure of this huge responsibility. Okay, so what exactly are these six? Let's look at the roadmap that will explain to you all about the six stages involved in the recruitment life cycle. So we have preparing, sourcing, screening, selecting, hiring, and onboarding. And I'll go through each one of these separately and explain how they're integrated into the entire process. So the first stage of the recruitment life cycle I mentioned is preparing, as the name itself suggests This step E encompasses everything that you need to do. Physically start looking for applicants. Review the company, take down all the types of skills that you need from an employee, and maybe look at your HRS system and see what you're missing. And that way you have a good idea of the data that's going to back this decision. And you can also be able to convey it to stakeholders as well, that this is who you need to hire. So you wanna try to profile a candidate for that given position. And by the end of this, You'll know exactly every single aspect of the job vacancy from the education or experience that the newcomer's supposed to have, to the more general aspects of the new role that will be incorporated within the company. Now, once you've mastered the step and have almost perfect control, well hopefully over the type of portfolio of a person that you're looking for, you can go on to the next one. And this is, This is when you actually start looking for candidates. Share the job description that you've created through as many sources as possible, and advertise for potential candidates. For this purpose, you can rely on physical advertising, web sourcing, referrals, or even in-house recruiting. Post a job description on social media. Collaborate with partners who will share the advertisement and try testing current employees as well. Some of them may be a perfect fit for the current job vacancy, or if not, ask them if they perhaps know someone who they think will be a suitable candidate. And if so, ask them to put you in touch with this person. Now, essentially, you're free to try as many methods as possible to get as many applicants as you can, and once you're there, move on to the next step of the process. And this is screening, and I'm sure by now you have a huge pile of resumes and cover letters on your desk, and you know, by the end of this recruitment process, you're only gonna end up with a single employee. The screening step of the process is, are you really the most time consuming one since it requires you to often, manually, to some extent go through every single one of these submitted applications? Review them in detail and filter out applicants who seem not really fitted for the job or unreliable and don't possess the relevant job skill set. You can also be using software to help you with this to do keyword filtering through resumes and cover letters. Just weed out ones right away, but sometimes just get rid of good applicants, so you have to be a little careful. And at this point, you'll be comparing applicant skills with the skills required by the job description. You'll need a lot of patience and energy here, mostly because reviewing potentially hundreds of similar applications may result in you making. Poor choice. Once you've eliminated all the candidates that clearly don't correspond to what you're looking for, you may even start conducting short phone call interviews where you introduce yourself to viable candidates and schedule a physical interview with them. Through these interviews, you'll additionally eliminate. Then not as desirable candidates and be left with a suitable selection only. And that's where you proceed to the next step here. So after you're done with the screening phase, then comes the selection part. This revolves around the interviewing process itself. And by this point you should already know exactly what you're looking for in a candidate. And if you have multiple applicants, then review their resume. Over at various times to learn their exact strengths and weaknesses and also not forget an idea about who they are. Now, you'll need to spend some time formulating the interview questions, so you wanna do some through research as to what questions are posed or in such job interviews for these type of candidates that you're hiring. And of course, you know, make sure to tailor them to the specific job requirements after interviewing all the candidates. You narrow down the selection and if necessary, conduct a double or triple interviews until you have a clear favorite. Or a couple favorites in mind. Now, at this point, you have one foot into the next step of the process, and then we have the hiring part. So now when hiring applicants, consult your coworkers, your boss, or even your existing employees, and make a final decision. The job offer issued electronically or in person should include a lot of information with everything carefully detailed and explained so as to avoid further confusion or disagreements be clear with the exact salary amount the chosen employee will be receiving. The same goes for determining the hours and methods of work and the execution of tasks that the employee will need to accomplish. Be aware that not all candidates will readily accept whatever you propose. Some may ask for some time to mull over the details. Well, others will immediately try to negotiate their salary, working hours, benefits, or some other aspects the job may or may not include. And during the hiring process, it's important to be patient. Take into consideration all these factors. First, also consider this routing circumstances. For example, if this one candidate. By far the most suitable one for the position. You'll be willing to accommodate them and maybe reach a little bit further in what you can provide them to get them to join your team. And if you have a second or third choice in mind, maybe you'll want to additionally interview them before making a deal with your first candidate. And sometimes you have such great candidates and there's a couple of them that you end up hiring both, even though that wasn't your original intention. And as soon as all these steps are resolved and a final decision is made on both sides, the employee will accept the offer and you'll officially have hired them. Now, as for the final step here, let's discuss onboarding. By this point, a great portion of the process has been completed, although there's still one more challenging hurdle to overcome. Introducing a new employee to their coworkers and incorporating them within the. This step usually includes processes such as training and employee orientation, as well as answering any questions a newcomer might have about their position, and once they're properly introduced in, incorporated into the company, the full lifecycle cream process is considered finished. You're now prepared to go through the entire process all over again and fill out other job positions required by the company in these six steps, pretty much sum the entire process up, but each step has. Smaller minute steps under them. So it's important to keep in mind that there's a whole ecosystem of things you have to take care of here. And as a potential employer, recruiter, HR professional, you should be aware that you may counter this process under a different name, depending on that source. And all in all, there are three essential stages to stick to though. First is attract and engage, which encompasses the preparation and sourcing stage. And next is the manage and interview, which encompasses the screening and interviewing stage. And the final one is offer and onboard, which encompasses the hiring and introduction stages. And once you have mastery over steps. You'll be able to do this on a whim. You'll get so used to it that you'll be able to go through the resumes, the cover letters, and you'll be able to onboard effortlessly. Now, full lifecycle recruiting shouldn't be assessed based on benefits and downsides. Well, it truly has both. You need to ensure that a conscious choice is made by the company one, selecting applicants. A well developed company will divide this process between multiple recruiters, whereas a small business do will have the same person go through full life cycle recruiting, whether they like it or not. You know, just a small company and they only have one person to do it. And there we have it. That's the rundown of this topic, and hopefully we painted a clear picture of what's at hand when finding a great employee for your. And if you found this video helpful in understanding this concept more, don't forget to like the video. Subscribe to our channel and of course make sure to watch some of our other videos where we cover many different concepts in hr. And with that said, I'll see you on some of those videos and take care. Cheers.

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